ECGI ECGI Holdings Inc (PK)

On August 11, 2016, our Board of Directors (the “Board”) approved and authorized the adoption of amendments to our By-laws (the “Bylaw Amendments”), which Bylaw Amendments became effective immediately upon their adoption by the Board.  The Bylaw Amendments amend Article II, Section 3 (“Special Meetings”) to eliminate the right of shareholders to call a special meeting and add a new Section 13 to Article II which provides, to the fullest extent permitted by law, (i) for the shifting of litigation expenses to an unsuccessful plaintiff in intra-corporate litigation who does not obtain a judgment on the merits that substantially achieves, in substance and amount, the full remedy sought and (ii) that a plaintiff in intra-corporate litigation is required to pay all of its own litigation expenses, and will not be entitled to recover such litigation expenses from our company, regardless of whether the plaintiff is successful.

The foregoing description of the Bylaw Amendments is not complete and is qualified in its entirety by reference to the full text of the By-law Amendments included in the Amended and Restated By-laws, filed as Exhibit 3.3 to this report and incorporated herein by reference.