Exercise of Options

RNS Number : 2194J
Randall & Quilter Inv Hldgs PLC
28 June 2011
 

Date:

28 June 2011

On behalf of:

Randall & Quilter Investment Holdings plc ("R&Q", "Randall & Quilter" or "the Company")

For immediate release


 

 

Randall & Quilter Investment Holdings PLC

 

Exercise of Options

 

Randall & Quilter announces that following an exercise of 685,000 options, 625,000 shares will be transferred from the Group EBT and 60,000 new ordinary shares of 2 6/91p each have been issued.

 

Application has been made for the 60,000 new ordinary shares to be admitted to trading on AIM and such admission is expected to occur on 4 July 2011.

 

The new shares will rank in full for all dividends and distributions declared, made or paid after their issue and otherwise pari passu with all existing ordinary shares.

 

Following the exercise of these options and prior to the cancellation of any of the shares purchased by the Company, and announced by the Company prior to this announcement, since it began its repurchase programme on 23 June 2011, the total number of shares in issue will be 55,133,002 ordinary shares of which 718,358 are held by the Company's employee benefit trust which has agreed to waive its dividend and voting rights and which are treated by the Company as being held in treasury. Accordingly, there are 54,414,644 Ordinary Shares in issue with exercisable voting rights.

 

The above figures may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.

 

Following the cancellation of the purchased shares subject to the announcements made by the Company prior to this announcement, the total number of shares in issue will be 52,989,014 ordinary shares of which 718,358 will be held by the Company's employee benefit trust and in respect of which the voting rights have been waived. Accordingly, there will be 52,270,656 Ordinary Shares in issue with exercisable voting rights.

 

 - ends -

Enquiries:

Randall & Quilter Investment Holdings PLC               www.rqih.com 

Tom Booth                                                                  Tel: 020 7780 5850

 

Numis Securities Limited

Stuart Skinner (Nominated Adviser)                           Tel: 020 7260 1000

Charles Farquhar (Broker)                                         Tel: 020 7260 1000

 

Shore Capital Stockbrokers Limited

Dru Danford/Stephane Auton                                     Tel: 020 7408 4090

 

Redleaf Communications                                           r&q@redleafpr.com 

Emma Kane/Alicia Jennings                                       Tel: 020 7566 6741

 

Notes to Editors:

 

Since formation, Randall & Quilter has pursued a buy and build strategy to create a comprehensive range of investment activities and services in the global non-life insurance market and is focused on the following four core areas:

 

-   Insurance Investments;

-   Insurance Services;

-   Underwriting Management; and

-   Captives.

 

The Group currently:

 

-   has a portfolio of nine insurance companies in run-off (from the UK, US and Europe) with net assets of c.£73m as at 31 December 2010;

-   has wide service capability in both the 'live' and 'run-off' markets

-   has a team of approximately 350 insurance professionals based in the UK, USA, Bermuda, Canada and Gibraltar; and

-   provides 'turnkey' management services to new Lloyd's syndicate 1897 and manages two RITC ('run-off') syndicates.

 

The Group was founded by Ken Randall, Executive Chairman and Chief Executive, and Alan Quilter, Chief Operating Officer, who both have extensive experience in the industry including as Head of Regulation of Lloyd's and as Head of the Market Financial Services Group respectively.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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