– BERMUDA, Hamilton – Till Capital Ltd. (NASDAQ:TIL TSX.V: TIL) a Bermuda domiciled company, announces that its Board has appointed Dr. John T. (“Terry”) Rickard as Director to replace David Atkins, who previously announced he would not stand for reelection at the Company’s upcoming Annual General Meeting (the “Meeting”). In view of Dr. Rickard’s appointment, Mr. Atkins has resigned from the Board effective July 31, 2015. Dr. Rickard will stand for election to the Board at the Meeting. Mr. Atkins will remain in his current position as Chairman of the Board of Omega Insurance Holdings, Inc. (“Omega”), a wholly owned subsidiary of Till. The Company thanks Mr. Atkins for his valuable service as a Director of Till, particularly in facilitating the Company’s acquisition of Omega, and appreciates his continuing stewardship in serving as Chairman of the Omega Board.
Dr. Rickard has 44 years of experience in advanced technology and financial organizations, all of it in management, oversight and technology development positions. He has been an executive and a director of several private companies and one public reporting company. He was President and later Chief Scientific Officer of OptiMark Technologies, Inc. and served on its board. He was a co-inventor of the OptiMark transaction matching system and was instrumental in the development of this company from a start-up enterprise to an operating entity on the Pacific Stock Exchange, the Nasdaq market and the Osaka Securities Exchange, including the securing of over $350 million in investment capital from major investors in the U.S. and internationally. Prior to that, he was President of the brokerage firm Mitchum, Jones & Templeton. He has authored/co-authored over 70 refereed technical publications in engineering, electronic market structure, matching algorithms and trading strategies, and has coauthored 11 issued patents. He has also served as an expert witness in multiple intellectual property litigations involving financial markets. He received a Ph.D. degree in Engineering Physics from the University of California, San Diego, in 1975.
As the Director of Quantitative Research for Till Management Company, a wholly owned subsidiary of Till, Dr. Rickard is responsible for designing computationally intelligent systems for automated trading and investment due diligence. He currently beneficially owns or directs 271,666 shares (7.6%) of the Company’s outstanding stock.
Till Capital Ltd.
Till Capital Ltd. is a Bermuda-domiciled company with two wholly-owned subsidiaries, Omega Insurance Holdings Inc. and Resource Re Ltd. Omega Insurance Holdings Inc. owns Omega General Insurance Company, a Canadian insurance company offering innovative and customized insurance industry solutions, including fronting and run-off services for insurers/reinsurers, within the Canadian marketplace. Omega Insurance Holdings Inc. also operates Focus Group Inc., a consulting and project management company servicing the local and international needs of its Property Casualty Insurance clients. Resource Re Ltd. is a Bermuda-domiciled reinsurance company regulated by the Bermuda Monetary Authority with a Class 3A insurance license directed to underwrite reinsurance policies within a long term investment strategy. Through its regulated subsidiaries, the Company has been structured to produce underwriting profits as well as above average returns on assets under management.
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