Result of Special General Meeting

RNS Number : 3135Z

R&Q Insurance Holdings Ltd

13 September 2022

 

13 September 2022

R&Q Insurance Holdings Ltd

Result of Special General Meeting

R&Q Insurance Holdings Ltd (AIM: RQIH) ("R&Q" or the "Company"), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, announces the result of the Special General Meeting ("SGM") held today.

In line with the Board's recommendations that shareholders should vote against all of the resolutions and following a poll conducted at the meeting, Resolutions 1 and 2 as set out in the notice convening the SGM have not been approved by shareholders of the Company. The results of both resolutions put to the SGM are set out below. The resolutions were proposed as ordinary resolutions requiring the support of a minimum of 50% of the total votes cast in order to be passed.

Resolution	For		Against		Total votes cast	Total votes cast as % of Issued Share Capital	Votes Withheld
	Number of Votes	% of votes cast	Number of votes	% of votes cast
1.  To remove William Spiegel as a director	105,025,549	30.44%	239,997,677	69.56%	345,023,226	91.42%	1,697
2.  To appoint Ken Randall as a director	121,227,672	35.14%	223,787,182	64.86%	345,014,854	91.42%	10,069

Alastair Campbell, Non-Executive Director, said:

 "We are pleased with the result of the meeting and would like to thank our shareholders for their support. The certainty provided by this outcome means that William, the Board and the management team can now ensure their full focus is on executing against our strategy and delivering on our targets. The R&Q Board will also continue with its priority of enhancing its composition, including the appointment of an Independent Non-Executive Chairman as soon as possible."

A copy of these votes is also available on the Company's website.

  -Ends-

Enquiries to:

R&Q Insurance Holdings Ltd.   Tel: [phone] William Spiegel Alan Quilter Tom Solomon Fenchurch Advisory Partners LLP (Financial Adviser)  Tel: [phone] Kunal Gandhi Brendan Perkins Richard Locke Tihomir Kerkenezov Numis Securities Limited (Nominated Advisor & Joint Broker)   Tel: [phone] Giles Rolls Charles Farquhar  Barclays Bank PLC  (Joint Broker) Andrew Tusa Anusuya Nayar Gupta   Tel: [phone] FTI Consulting Tom Blackwell  Tel: [phone]

About R&Q 

R&Q is a non-life global specialty insurance company operating two highly complementary businesses: Program Management and Legacy Insurance. Both of these businesses are leaders in markets with high barriers to entry and significant growth opportunities. Legacy Insurance generates profits and capital extractions from expert management of legacy non-life insurance portfolios. Program Management generates commission income from its licensed (and rated) carriers in the US, EU and the UK, writing niche and profitable program business, largely on behalf of highly rated reinsurers.

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

Website: www.rqih.com

 

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