AGREEMENT AND PLAN OF MERGER dated as of October 14, 2004 by and among PENN- AMERICA GROUP, INC., UNITED NATIONAL GROUP, LTD., U.N. HOLDINGS II, INC. and CHELTENHAM ACQUISITION CORP.Agreement and Plan of Merger • October 15th, 2004 • Penn America Group Inc • Surety insurance • Pennsylvania
THIS AGREEMENT AND PLAN OF MERGER (this “Agreement”), dated as of October 14, 2004, is entered into by and among Penn-America Group, Inc., a Pennsylvania corporation (the “Company”), United National Group, Ltd., an exempted company formed with limited liability under the laws of the Cayman Islands (“Parent”), U.N. Holdings II, Inc., a Delaware corporation and an indirect, wholly-owned subsidiary of Parent (“Buyer”), and Cheltenham Acquisition Corp., a newly-formed Pennsylvania corporation and a wholly-owned subsidiary of Buyer (“Merger Subsidiary”).
