Result of Meeting

RNS Number : 5751F

Randall & Quilter Inv Hldgs PLC

27 April 2011

 

Date:	27 April 2011
On behalf of:	Randall & Quilter Investment Holdings plc ("R&Q" or the "Group")
For immediate release

Randall & Quilter Investment Holdings plc

Result of General Meeting

Return of Value to Shareholders of 4.45 pence per Existing Ordinary Share

The Board of Randall & Quilter Investment Holdings plc (AIM:RQIH), the specialist non-life insurance investor, service provider and underwriting manager, has today held the General Meeting referred to in the Circular to shareholders of the Company ('the Circular'), announced on 11 April 2011.

The special resolution set out in the Notice convening the General meeting has been duly passed.

As a result, the Company will now seek to make a return of value ("Return of Value") to shareholders through the issue of C and D Shares. The Return of Value, which is subject to the approval of the Court, which is expected to occur on 25 May 2011, is in place of the final dividend for the 2010 year but the Company may choose to make future returns of value in addition to or instead of ordinary dividend payments, whilst maintaining its stated policy to grow total distributions to shareholders by at least 5 per cent. per annum from the base level of 7 pence per share paid for the financial year ended 2009.

The Return of Value will involve the issue to Shareholders of C Shares and/or D Shares and is intended to give Shareholders, where eligible under their prevailing tax regime (such as in the UK), the flexibility to receive a return of cash from the Company as capital or income for tax purposes, or a combination of the two.

ENDS

Enquiries to:

Randall & Quilter Investment Holdings plc	www.rqih.co.uk
Tom Booth	Tel: [phone]
Numis Securities Limited
Stuart Skinner (Nominated Advisor)	Tel: [phone]
Charles Farquhar (Broker)	Tel: [phone]
Shore Capital Stockbrokers Limited
Dru Danford / Stephane Auton	Tel: [phone]
Redleaf Communications	r&[e-mail]
Emma Kane/ Alicia Jennings	Tel: [phone]

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.£74m as at 30 June 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, Group Finance Director 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.

 

END

 

 

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