Result of General Meeting

RNS Number : 6549A

Randall & Quilter Inv Hldgs Ltd

27 March 2017

 

Randall & Quilter Investment Holdings Ltd.

Result of General Meeting

27 March 2017

The Board of Randall & Quilter Investment Holdings Ltd. (AIM:RQIH) (the "Company"), the specialist non-life insurance investor, service provider and underwriting manager, today held the General Meeting referred to in the notice to shareholders of the Company dated 2 March 2017.

The resolutions set out in the notice convening the General Meeting for the proposed placing of up to 15,278,291 new ordinary shares have been duly passed.

Application has been made for the new ordinary shares to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur on 28 March 2017. Following Admission, the Company will have 87,396,247 shares in issue.

Ends

Enquiries to:

Randall & Quilter Investment Holdings Ltd. Tom Booth	www.rqih.com [phone]
Numis Securities Limited (Bookrunner, Nomad and Joint Broker) Stuart Skinner (Nominated Adviser) Charles Farquhar (Broker) Akshman Ori Harry Trueman	[phone]
FTI Consulting Edward Berry Tom Blackwell	[phone]

Notes to Editors:

About R&Q

Randall & Quilter pursues a buy and build strategy and has created a comprehensive range of investment activities and services in the global non-life insurance market.

R&Q is focused on the following three core areas:

·      Insurance Investments

·      Insurance Services

·      Underwriting Management

The Group:

·      provides a range of services to both the live and legacy (re)insurance markets to support growing businesses and address complex and challenging run-off issues;

·      employs close to 400 insurance professionals based in the UK, US, Bermuda, and Europe with wide service capability in both the 'live' and 'run-off' markets;

·      owns and manages a portfolio of insurance companies, both active and in run-off, in the UK, US and Europe with net assets of £123.7m as at 31 December 2015;

·      owns an admitted P&C Insurer, A- rated by AM Best, with licenses throughout the US; owns a Bermuda Class 3A insurance company which currently supports the Group's syndicate participations;

·      launched Syndicate 1991, which commenced underwriting from January 1, 2013 and has an agreed capacity of £130m for 2016, manages one RITC ('run-off') syndicate, 3330, and owns and operates an MGA platform;

·      acquires and manages a portfolio of insurance receivables, with a carrying cost of £6.0m as at 31 December 2015, of which R&Q holds a 50% interest

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

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

Website: www.rqih.com

 

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