Result of Special General Meeting

RNS Number : 3135Z
R&Q Insurance Holdings Ltd
13 September 2022
 

13 September 2022

 

R&Q Insurance Holdings Ltd

 

Result of Special General Meeting

 

R&Q Insurance Holdings Ltd (AIM: RQIH) ("R&Q" or the "Company"), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, announces the result of the Special General Meeting ("SGM") held today.

 

In line with the Board's recommendations that shareholders should vote against all of the resolutions and following a poll conducted at the meeting, Resolutions 1 and 2 as set out in the notice convening the SGM have not been approved by shareholders of the Company. The results of both resolutions put to the SGM are set out below. The resolutions were proposed as ordinary resolutions requiring the support of a minimum of 50% of the total votes cast in order to be passed.

 

Resolution

For

Against

Total votes cast

Total votes cast as % of Issued Share Capital

Votes Withheld


Number of Votes

% of votes cast

Number of votes

% of votes cast

1.  To remove William Spiegel as a director

105,025,549

30.44%

239,997,677

69.56%

345,023,226

91.42%

1,697

2.  To appoint Ken Randall as a director

121,227,672

35.14%

223,787,182

64.86%

345,014,854

91.42%

10,069

 

Alastair Campbell, Non-Executive Director, said:

 

 "We are pleased with the result of the meeting and would like to thank our shareholders for their support. The certainty provided by this outcome means that William, the Board and the management team can now ensure their full focus is on executing against our strategy and delivering on our targets. The R&Q Board will also continue with its priority of enhancing its composition, including the appointment of an Independent Non-Executive Chairman as soon as possible."

 

A copy of these votes is also available on the Company's website.

 

  -Ends-

 

Enquiries to:

 

R&Q Insurance Holdings Ltd.

  Tel: 020 7780 5850

William Spiegel

Alan Quilter

 

 

Tom Solomon

 

Fenchurch Advisory Partners LLP (Financial Adviser)  Tel: 020 7382 2222
Kunal Gandhi
Brendan Perkins
Richard Locke
Tihomir Kerkenezov

 

Numis Securities Limited (Nominated Advisor & Joint Broker)   Tel: 020 7260 1000

Giles Rolls


Charles Farquhar 

 

Barclays Bank PLC  (Joint Broker)

Andrew Tusa

Anusuya Nayar Gupta

 

 

 

  Tel: 020 7632 2322

 

FTI Consulting

Tom Blackwell

 

 Tel: 020 3727 1051

 

 

About R&Q 

 

R&Q is a non-life global specialty insurance company operating two highly complementary businesses: Program Management and Legacy Insurance. Both of these businesses are leaders in markets with high barriers to entry and significant growth opportunities. Legacy Insurance generates profits and capital extractions from expert management of legacy non-life insurance portfolios. Program Management generates commission income from its licensed (and rated) carriers in the US, EU and the UK, writing niche and profitable program business, largely on behalf of highly rated reinsurers.

 

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

 

Website: www.rqih.com

 

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