Notice of General Meeting

RNS Number : 0017D

Randall & Quilter Inv Hldgs Ltd

05 October 2018

 

 

Randall & Quilter Investment Holdings Ltd.

Notice of General Meeting and Proposed Return of Capital to Shareholders of 3.6 pence per Ordinary Share and Reduction of Capital

5 October 2018

Following the announcement of the Group's interim results on 19 September 2018, the Board of Randall & Quilter Investment Holdings Ltd. (AIM:RQIH) ("Company"), the Bermuda based global program underwriting management and legacy acquisitions specialist, is pleased to confirm that a notice of general meeting incorporating a circular which sets out details in relation to a proposed return of capital to the Company's shareholders ("Return of Capital") and convening the general meeting of the Company to be held at 11:00 a.m. on 30 October 2018 at 71 Fenchurch Street, Ground Floor, London EC3M 4BS ("General Meeting"), has been posted to the Company's shareholders today ("Circular").

The Return of Capital involves the creation and capitalization of the AA Shares from monies standing to the credit of the Company's share premium account and the Reduction of Capital. To effect the Return of Capital:

·    Shareholders will be issued one AA Share for each Ordinary Share held by them at 6.00 p.m. on 30 October 2018, being the Record Time. 

·      On or around 31 October 2018, the AA Shares will be cancelled pursuant to the Reduction of Capital and holders of the AA Shares will be paid the capital paid up on the AA Shares (being 3.6 pence per AA Share).

·      Payments in respect of the Return of Capital are expected to be made on or around 7 November 2018.

The Return of Capital (including the creation and capitalization of the AA Shares and the Reduction of Capital) is subject to the approval of the Shareholders at the General Meeting.

A copy of the Circular, containing more information in relation to the Return of Capital and Reduction of Capital, and the Company's interim results, are available on the Company's website at www.rqih.com  

Terms defined in the Circular have the same meaning when used in this announcement.

Ends

Enquiries to:

Randall & Quilter Investment Holdings Ltd. www.rqih.com Ken Randall Tel: [phone] Numis Securities Limited (Nominated Adviser) Stuart Skinner Tel: [phone] Charles Farquhar Tel: [phone] Shore Capital Stockbrokers Limited Dru Danford / Stephane Auton Tel: [phone] FTI Consulting Edward Berry/Tom Blackwell Tel: [phone]

Notes to Editors:

About R&Q

The overall mission of the Bermuda based Group is to:

·     generate profits and capital extractions from expert management of legacy non-life insurance acquisitions/ reinsurances, including in Lloyd's; and 

·    grow commission income from its licensed (and rated) carriers in the US and EU/UK, writing niche and profitable programme business, largely on behalf of highly rated reinsurers.

Our aim is to continue to grow sustainable profit streams to support our business model and increase book value and cash distributions to shareholders. 

The Group was founded by Ken Randall and Alan Quilter in 1991.

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

Website: www.rqih.com

 

END

 

 

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