Transaction in Own Shares

RNS Number : 7482J

Randall & Quilter Inv Hldgs PLC

05 July 2011

 

Date:	5 July 2011
On behalf of:	Randall & Quilter Investment Holdings plc ("R&Q", "Randall & Quilter" or "the Company")
For immediate release

Randall & Quilter Investment Holdings PLC

Transaction in own shares

Randall & Quilter (AIM: RQIH), the specialist non-life insurance investor, today announces it has purchased 18,360 Ordinary Shares of 2 6/91p each at an average price of 124.75 pence per share.

The highest price and lowest price paid for these shares was 124.75 pence. All the purchased shares will be cancelled.

The number of Ordinary Shares purchased represents approximately 0.03% of the voting rights* attributable to the total Ordinary Shares in issue prior to such purchases.

Prior to the cancellation of any of the shares purchased by the Company since it began its repurchase programme on 23 June 2011, the Company has 55,133,002 Ordinary Shares in issue and following the cancellation, the Company is expected to have 51,122,543 Ordinary Shares in issue, including 718,338 Ordinary Shares held by the Company's employee benefit trust (EBT) which has waived its voting and dividend rights in respect of such shares and which the Company therefore treats as held in treasury.  Accordingly, there are expected to be 50,404,205 Ordinary Shares in issue with exercisable voting rights following the repurchases.  

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.

* The denominator in this calculation excludes the shares held by the EBT, which are deemed to be held in treasury as voting rights have been waived in respect of these shares.

 - ends -

Enquiries:

Randall & Quilter Investment Holdings PLC               www.rqih.co.uk 

Tom Booth                                                                  Tel: [phone]

Numis Securities Limited

Stuart Skinner (Nominated Adviser)                           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.£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.

 

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