Result of Intraday

RNS Number : 3132J

Randall & Quilter Inv Hldgs PLC

29 June 2011

 



Date:	29 June 2011
On behalf of:	Randall & Quilter Investment Holdings plc ("R&Q", "Randall & Quilter" or "the Company")
Embargoed until:	0700hrs

Randall & Quilter Investment Holdings PLC

Results of intraday share repurchase and transaction in own shares

Randall & Quilter Investment Holdings PLC (the "Company") announces that on 28 June 2011 it purchased 1,723,406 Ordinary Shares of 2 6/91p at a price of 124 pence per share as part of the bookbuilding process announced on 28 June 2011. These shares will be cancelled.

The number of Ordinary Shares purchased represents approximately 3.2% 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, and announced by the Company prior to this announcement, 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 51,265,608 Ordinary Shares in issue, including 718,358 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 50,547,250 Ordinary Shares in issue with exercisable voting rights following the repurchases. 

* 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: [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 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, 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.

 

END

 

 

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