Exercise of Share Options

RNS Number : 3461Q
Randall & Quilter Inv Hldgs Ltd
11 October 2013
 

 

 

 

Randall & Quilter Investment Holdings Ltd

 

 ("Randall & Quilter" or the "Company")

 

Director/PDMR shareholding

 

Exercise of Share Options

Pursuant to the disclosure of Existing Incentive Awards which was made in the Company's AGM notice and scheme circular sent to shareholders on 17 May 2013 and under the terms of a grant of options made on 1 October 2013, Tom Booth, Chief Financial Officer of the Company has exercised options over 500,000 ordinary shares in Randall & Quilter today. The Company has issued new shares to satisfy these options, which on admission to AIM (expected to be on 17 October 2013) will bring the total number of ordinary shares in the Company in issue to 71,466,335, an increase of 0.7%.  Of these, 298,338 shares are held by the Randall & Quilter Employee Benefit Trust and have waived their voting rights.  The total number of voting rights will therefore be 71,167,997.

Mr Booth is retaining 500,000 shares from the exercise bringing his total shareholding in the Company to 500,000 shares which will represent 0.7% of the enlarged issued share capital.

Following this exercise, there are 545,000 options outstanding including those under the Group's approved and unapproved option schemes of which all have vested but have not been exercised.

- ends -

 

 

Enquiries to:

 

Randall & Quilter Investment Holdings Ltd                  www.rqih.com

Tom Booth                                                                          Tel: +00 1 441 247 8330

 

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

 

FTI Consulting

Edward Berry / Tom Blackwell                                           Tel: 020 7269 7297              

 

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 three core areas:

 

·     Insurance Investments;

 

·     Insurance Services; and

 

·     Underwriting Management

 

The Group currently:

-     has a team of up to 400 insurance professionals based in the UK, USA, Bermuda, and Continental Europe with wide service capability in both the 'live' and 'run-off' market;

 

-     has a portfolio of 12 insurance companies in run-off (from the UK, US and Continental Europe) with net assets of c.£96.4m as at 30 June 2013;

 

-     provides 'turnkey' management services to Lloyd's syndicate 1897, manages two RITC ('run-off') syndicates and owns and operates 4 MGAs;

 

-     acquires and manages a portfolio of insurance receivables, with a carrying cost of c. £8.9m as at 30 June 2013;

 

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
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