Validus Holdings Ltd. yesterday announced today the final results of its 'modified Dutch auction' tender offer, which expired on June 8, 2010.

Validus had accepted for purchase 12,000,000 of its common shares at a price of $25 per share for a total cost of $300 million, excluding fees and expenses relating to the tender offer.

The common shares bought pursuant to the offer represented approximately 9.5 percent of the shares outstanding as of June 7, 2010. Validus has been informed by BNY Mellon Shareowner Services, the depositary for the tender offer, that the final proration factor for the tender offer is approximately 86.3 percent. Validus funded the purchase of the shares in the tender offer using cash on hand.

Based on the final count by the depositary, 13,896,804 shares were properly tendered and not withdrawn at or below a price of $25 per share.

The depositary will pay for the shares accepted for purchase, and will return the 1,896,804 shares tendered and not purchased, pursuant to the terms of the tender offer. Upon completion of the tender offer, Validus had approximately 114.7 million shares outstanding.

Following completion of the tender offer, Validus has approximately $364 million remaining under its current share repurchase programme.