Comment on recent press speculation

R&Q Insurance Holdings Ltd
01 March 2024
 

R&Q Insurance Holdings Ltd

 

Comment on recent press speculation

 

1 March 2024

 

R&Q Insurance Holdings Ltd (AIM: RQIH) ("R&Q" or "the Company") notes the recent press speculation regarding the Company.

 

In April 2023, the Board of R&Q announced that it was exploring strategic options for the separation of its Program Management business, Accredited, and its Legacy Insurance business. As announced on 20 October 2023, R&Q has entered into a conditional agreement with funds advised by Onex Corporation to sell 100% of its equity interest in Randall & Quilter America Holding Inc., the holding company of the Accredited business. On the basis set out in the circular sent to shareholders on 14 December 2023 and in recent announcements, R&Q continues to work expeditiously towards achieving satisfaction of the conditions to enable that sale to take place. R&Q currently expects closing of that sale to occur in Q2 2024. In the meantime, the Board of R&Q continues to evaluate any and all options so as to realise value from its Legacy Insurance business for the benefit of all its stakeholders, including its shareholders, whether that be through the ongoing trading of that business or through alternative strategic options.

 

Further announcements will be made, as appropriate, in due course.

 

-Ends-

 

Enquiries to:

 

R&Q Insurance Holdings Ltd                                                                          Tel: +44 (0)20 7780 5850

Jeff Hayman

William Spiegel

Tom Solomon

 

Fenchurch Advisory Partners LLP (Financial Adviser)                              Tel: +44 (0)20 7382 2222

Kunal Gandhi

Brendan Perkins

John Sipp

Richard Locke

Tihomir Kerkenezov

 

Barclays Bank PLC (Financial Adviser and Joint Broker)                          Tel: +44 (0)20 7632 2322

Gary Antenberg

Richard Bassingthwaighte

Anusuya Nayar Gupta

Grant Bickwit

 

Howden Tiger (Financial Adviser)                                                                 Tel : +44 (0)20 7398 4888

Rob Bredahl                                                                                 

Leo Beckham                                                                                            

 

Deutsche Numis (Nominated Adviser and Joint Broker)                           Tel : +44 (0)20 7260 1000

Charles Farquhar                                                                                 

Giles Rolls                                                                                           

 

FTI Consulting                                                                                         Tel: +44 (0)20 3727 1051

Tom Blackwell                                                                                       

 

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