Lemma Europe Insurance Company Limited

A Directive was issued pursuant to section 40 (1) (a) of the Financial Services Commission Act, 2001 to Lemma Europe Insurance Company Limited requiring that it: 1. With immediate effect, to cease and desist from accepting or binding any risks whatsoever, whether new or renewal in the Virgin Islands, and to cease and desist from entering into any new contracts for any class or type of business. 2. With immediate effect, not to accept transfers, remittances or payments of any kind from its intermediary in the Virgin Islands; namely, Caribbean Insurers Limited. 3. With immediate effect, the Company, its agents, employees, assigns and successors are prevented from transferring, disposing of or otherwise dealing with the funds held in account no. 15.202.532.900 in the name of the Company, which amounted to approximately $1,504,622.80 as at 24 August 2012.