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Randall & Quilter (RQIH)

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Thursday 11 August, 2011

Randall & Quilter

Transaction in Own Shares

RNS Number : 1525M
Randall & Quilter Inv Hldgs PLC
11 August 2011
 



Date:

11 August 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 54,399 Ordinary Shares of 2 6/91p each at an average price of 110.0 pence per share.

 

The highest price and lowest price paid for these shares was 110.0 pence. All the purchased shares will be cancelled.

 

The number of Ordinary Shares purchased represents approximately 0.10% 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 50,251,237 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 49,532,899 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: 020 7780 5850

 

Numis Securities Limited

Stuart Skinner (Nominated Adviser)                           Tel: 020 7260 1000

Charles Farquhar (Broker)                                         Tel: 020 7260 1000

 

Shore Capital Stockbrokers Limited

Dru Danford/Stephane Auton                                     Tel: 020 7408 4090

 

Redleaf Polhill                                                              r&q@redleafpr.com 

Emma Kane/Alicia Jennings                                       Tel: 020 7566 6741

 

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.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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