Syncora Holdings Ltd. Announces Seating of Two New Directors

HAMILTON, Bermuda, Dec. 6, 2016 /PRNewswire/ -- Syncora Holdings Ltd. (the "Company") today announced that, following conclusion of a review by the New York Department of Financial Services, Messrs. Frederick Arnold and Robert Mills have been seated on the Company's Board.  Mr. Arnold and Mr. Mills were both nominated on August 23, 2016, by the surplus noteholders who had signed the Transaction Support Agreement ("TSA") on July 1, 2016.  In accordance with the terms of the TSA, Mr. L. Spencer Wells, who was elected to the Board by shareholders who previously held the Series A Preference Shares of the Company on September 3, 2014, has resigned from the Company's Board of Directors.  Messrs. Arnold and Mills will each have one 3 year term.

About Syncora Holdings Ltd.
Syncora Holdings Ltd. (OTC: SYCRF) is a Bermuda-domiciled holding company. For more information please visit www.syncora.com.

Contact:
R. Sharon Smith
Syncora Holdings Ltd.
1-212-478-3413

Important Information

This press release contains statements about future results, plans and events that may constitute "forward-looking" statements within the meaning of the U.S. federal securities laws.  The Company cautions you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release.  In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "plan," "seek," "comfortable with," "will," "expect," "intend," "estimate," "anticipate," "believe" or "continue" or the negative thereof or variations thereon or similar terminology.  Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's control. These risks and uncertainties include, but are not limited to, the factors described in the Company's historical filings with the NYDFS, and in the Company's, Syncora Guarantee Inc.'s and Syncora Capital Assurance Inc.'s GAAP and statutory financial statements, as applicable, posted on its website at www.syncora.com.  Readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statements are made.

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/syncora-holdings-ltd-announces-seating-of-two-new-directors-300373815.html

SOURCE Syncora Holdings Ltd.