Result of General Meeting and Open Offer

RNS Number : 9086R

Randall & Quilter Inv Hldgs Ltd

05 March 2019

 

Randall & Quilter Investment Holdings Ltd.

Result of General Meeting and Open Offer

5 March 2019

The Board of Randall & Quilter Investment Holdings Ltd. (the "Company"), the Bermuda based global program underwriting management and legacy acquisitions specialist, today held the General Meeting referred to in the notice to shareholders of the Company dated 8 February 2019.

The resolutions set out in the notice convening the General Meeting have been duly passed.

The Company also announces that under the open offer of new ordinary shares ("Open Offer"), it received valid applications from Qualifying Shareholders (as defined in the circular posted on 08 February 2019 (the "Circular")) in respect of an aggregate of 4,499,438 new ordinary shares, being the maximum amount available under the Open Offer.

Accordingly, a total of 65,359,477 new ordinary shares will be allotted under the firm placing of new ordinary shares ("Placing") and 4,499,438 new ordinary shares will be allotted under the Open Offer. In aggregate the Company has raised approximately £107 million via the issue of 69,858,915 new ordinary shares (before expenses).

Application has been made for the new ordinary shares to be admitted to trading on AIM and it is expected that Admission will occur on 6 March 2019. Following Admission, the Company will have 195,843,195 shares in issue.

Ends

Enquiries to:

Randall & Quilter Investment Holdings Ltd. Ken Randall	www.rqih.com [phone]
Numis Securities Limited (Joint Bookrunner, Nomad and Joint Broker) Stuart Skinner Charles Farquhar Akshman Ori Francesc Uriel Shore Capital Stockbrokers Limited (Joint Bookrunner and Joint Broker) Stephane Auton Anita Ghanekar James Thomas	[phone] [phone]
FTI Consulting Edward Berry Tom Blackwell	[phone]

Notes to Editors:

About R&Q 

The overall mission of the Bermuda based Group is to:

·      Generate profits and capital extractions from expert management of legacy non-life insurance acquisitions/ reinsurances, including in Lloyd's; and 

·      Grow commission income from its licensed (and rated) carriers in the US and EU/UK, writing niche and profitable program business, largely on behalf of highly rated reinsurers.

Our aim is to continue to grow sustainable profit streams to support our business model and increase book value and cash distributions to shareholders. 

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

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

Website: www.rqih.com

 

END

 

 

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