Randall & Quilter Inv Hldgs Ltd Posting of Circular (9663S)
06 October 2017 - 11:18PM
UK Regulatory
TIDMRQIH
RNS Number : 9663S
Randall & Quilter Inv Hldgs Ltd
06 October 2017
6 October 2017
Randall & Quilter Investment Holdings Ltd.
("R&Q", the "Group" or the "Company")
Posting of circular
Further to the announcement made on 5 October 2017 by the
Company that it has conditionally raised gross proceeds of GBP45.0
million through a firm placing of new ordinary shares (the
"Placing") with certain institutional shareholders and it is
proposing to raise gross proceeds of up to approximately GBP4.3
million through an open offer of new ordinary shares to Qualifying
Shareholders (the "Open Offer"), the Company is pleased to announce
that a circular has been posted today to shareholders (the
"Circular") to convene a general meeting of the Company for the
purpose of considering the resolutions required in connection with
the Placing and Open Offer and including the terms and conditions
of the Open Offer to Qualifying Shareholders (as defined in the
announcement made on 5 October 2017).
A copy of the Circular is available online at
http://www.rqih.com/investors/shareholder-information/documents/.
Correction to announcement released on 5 October 2017
Further to the RNS released on 5 October 2017, the Company
advises an amendment in relation to Ken Randall's participation in
the Placing under the paragraph headed 'Directors' participation in
the Placing and Open Offer' which should be as follows:
Director Number of Value of Total holding Percentage
Placing Placing of Ordinary of the Company's
Shares Shares at Shares following enlarged
the Issue Placing issued share
Price (GBP) capital
------------- ---------- ------------- ------------------ ------------------
Ken Randall 1,550,387 1,999,999.23 14,061,852 11.45%
------------- ---------- ------------- ------------------ ------------------
The corrected version of the announcement can be found on the
Investor Relations section of the Company's website at
www.rqih.com/investors/shareholder-information/documents. All other
details in the announcement released on 5 October 2017 remain
unchanged.
For further information please contact:
Randall & Quilter Investment Holdings www.rqih.com
Ltd. +1 441 247
Tom Booth 8330
Numis Securities Limited (Bookrunner, +44 (0)20
Nomad and Joint Broker) 7260 1000
Stuart Skinner
Charles Farquhar
Akshman Ori
Harry Trueman
Shore Capital Stockbrokers Limited
(Joint Bookrunner and Joint Broker) +44 (0)20
Stephane Auton 7408 4080
FTI Consulting
Edward Berry +44 (0)20
Tom Blackwell 3727 1046
Notes to Editors:
About R&Q
Randall & Quilter pursues a buy and build strategy and has
created a comprehensive range of investment activities and services
in the global non-life insurance market.
R&Q is focused on the following three areas:
-- Insurance Investments
-- Insurance Services
-- Underwriting Management
The Group:
-- provides a range of services to both the live and legacy
(re)insurance markets to support growing businesses and address
complex and challenging run-off issues;
-- employs over 400 insurance professionals based in Bermuda,
the US and Europe with wide service capability in both the 'live'
and 'run-off' markets;
-- owns and manages a portfolio of insurance companies, both
active and in run-off, in Bermuda, the US and Europe with net
assets of GBP201m as at 30 June 2017;
-- owns an admitted P&C Insurer, A- rated by AM Best, with
licenses throughout the US; owns a Bermuda Class 3A insurance
company;
-- launched Syndicate 1991, which commenced underwriting from
January 1, 2013 and has an agreed capacity of GBP127m for 2017,
manages one RITC ('run-off') syndicate, 3330, and owns and operates
an MGA platform;
-- acquires and manages a portfolio of insurance receivables,
with a carrying cost of GBP5.1m as at 30 June 2017
The Group was founded by Ken Randall and Alan Quilter in
1991.
Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94
Website: www.rqih.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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