CREST Entitlement Credited

RNS Number : 6786G

Randall & Quilter Inv Hldgs PLC

16 May 2011

 



Date:	16 May 2011
On behalf of:	Randall & Quilter Investment Holdings plc ("Randall & Quilter" or the "Company")
For immediate release

Randall & Quilter Investment Holdings plc

CREST Entitlement Credited

Further to its announcement of a proposed Return of Value on 11 April 2011, Randall & Quilter Investment Holdings plc (AIM: RQIH) announces that the CREST accounts of Shareholders holding Existing Ordinary Shares in CREST have now been credited with one interim CREST entitlement for each of their Existing Ordinary Shares as held on 5.00 p.m. on Friday 13 May 2011.

The interim CREST entitlements were also enabled today, allowing both Shareholders who hold their Existing Ordinary Shares in CREST, to elect for either the Capital Alternative or the Dividend Alternative electronically through the CREST system.

Such election should be made before 11.00 a.m. on Tuesday 24 May 2011 and in the manner set out in the circular sent to Shareholders on 11 April 2011 (the "Circular").  Shareholders whose elections are not validly received by such time, and as further set out in the Circular in relation to the Return of Value, will be deemed to have elected for the Dividend Alternative.

Timetable of Principal Events

Circular published to Shareholders in respect of the Return of Value	11 April 2011
Last time and date for receipt of forms of proxy or CREST proxy instructions for the General Meeting	9.30 a.m. on 25 April 2011
General Meeting Held	9.30 a.m. on 27 April 2011
Record time (for determining entitlement to C Shares and D Shares, the Capital Repayment on the C Shares and the Special Dividend on the D Shares)	5.00 p.m. on 13 May 2011
Credit CREST accounts with interim CREST entitlements in respect of Existing Ordinary Shares	16 May 2011
Existing Ordinary Shares commence trading ex-dividend	16 May 2011
Latest time and date for receipt of Forms of Election or USE instructions from CREST holders in respect of the Alternatives	11.00 a.m. on 24 May 2011
Court hearing to confirm the Reduction of Capital	25 May 2011
Effective date for Reduction of Capital	26 May 2011
Credit CREST accounts with, make BACS payments (with respect to the Dividend Alternative) to mandated accounts in respect of or despatch cheques in respect of the Capital Repayment on the C Shares and the Special Dividend on the D Shares	On or around 2 June 2011

Notes:

1 All references to time in this announcement are to London time unless otherwise stated.

2 The dates and times given in this announcement are based on the Company's current expectations and may be subject to change. If any of the above times or dates should change, the revised times and/or dates will be notified to Shareholders by an announcement on a Regulatory Information Service.

Further information on the Return of Value and interim CREST entitlements, can be found in the Circular.

Defined words and terms used in this announcement shall have the same meaning as ascribed to them in the Circular.

Copies of this announcement and the Circular in relation to the Return of Value are available on the Company's website at www.rqih.com.

-Ends-

Enquiries:

Randall & Quilter Investment Holdings plc	www.rqih.com
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 Polhill 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, 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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