Cayman National Amends Articles of Association


George Town, Cayman Islands: At the 2009 Annual General Meeting of Shareholders of Cayman National Corporation Ltd. (CSX:CNC KY) (the “Company”), held on 5th March 2009, shareholders approved, as special resolutions, the amendment of the Company’s Articles of Association.


Part of Article 107.1 of the Company’s Articles of Association was amended to change the mandatory age of retirement of a director on the Board of Directors. Article 107.1 now provides:


107. The office of a director shall be vacated, if a director:-


107.1 attains the age of 70 save in the case of an Existing Director.


Article 41 was amended to add the following new provisions, namely Articles 41.1 and 41.2:


41.1 The Company may, by resolution of its Directors purchase its own shares (including any redeemable shares and fractions of a share) in any manner whatsoever.


41.2 The Company may make a payment in respect of the redemption or purchase of its own shares otherwise than out of profits or the proceeds of a fresh issue of shares.


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About Cayman National

Established in 1974 and celebrating its 35th anniversary this year, Cayman National Corporation Ltd. is the largest financial services company based in the Cayman Islands, providing banking, trust and company management, fund administration, wealth management, and insurance services to clients locally and around the world, from the Cayman Islands and the Isle of Man. Cayman National is publicly traded on the Cayman Islands Stock Exchange.

Cayman National comprises: Cayman National Bank Ltd., Cayman National Fund Services Ltd., Cayman National Securities Ltd., Cayman National Trust Co. Ltd., Aon Cayman National Insurance Brokers Ltd., Cayman National Bank and Trust Company (Isle of Man) Limited and Cayman National Fund Services (Isle of Man) Limited, Cayman National Bank Ltd. Oficina de Representación (Panama) and Cayman National (Dubai) Ltd.


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Claudia Welds

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