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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
R&q Insurance Holdings Ltd | LSE:RQIH | London | Ordinary Share | BMG7371X1065 | ORD 2P (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.155 | 5.45% | 3.00 | 2.50 | 3.49 | 742,939 | 16:35:20 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Title Insurance | 82.8M | -297M | -0.7929 | -0.04 | 10.64M |
TIDMRQIH
RNS Number : 4723E
Randall & Quilter Inv Hldgs Ltd
09 May 2017
Randall & Quilter Investment Holdings Ltd.
Notice of AGM and Proposed Return of Capital to Shareholders of 5.2 pence per Ordinary Share and Reduction of Capital
9 May 2017
Following the announcement of the Group's full year results on 20 April 2017, the Board of Randall & Quilter Investment Holdings Ltd. (AIM:RQIH) ("Company"), the specialist non-life insurance investor, service provider and underwriting manager, is pleased to confirm that a notice of annual general meeting incorporating a circular which sets out details in relation to a proposed return of capital to the Company's shareholders ("Return of Capital") and convening the annual general meeting of the Company to be held at 3:00 p.m. on 1 June 2017 at 71 Fenchurch Street, Ground Floor, London EC3M 4BS ("Annual General Meeting"), has been posted to the Company's shareholders today ("Circular"), together with the Company's 2016 Annual Report.
The Return of Capital involves the creation and capitalisation of the X Shares from monies standing to the credit of the Company's share premium account and the Reduction of Capital. To effect the Return of Capital:
-- Shareholders will be issued one X Share for each Ordinary Share held by them at 5.00 p.m. on 1 June 2017, being the Record Time.
-- On or around 8 June 2017, the X Shares will be cancelled pursuant to the Reduction of Capital and holders of the X Shares will be paid the capital paid up on the X Shares (being 5.2 pence per X Share).
-- Payments in respect of the Return of Capital are expected to be made on or around 15 June 2017.
The Return of Capital (including the creation and capitalization of the X Shares and the Reduction of Capital) is subject to the approval of the Shareholders at the Annual General Meeting.
A copy of the Circular, containing more information in relation to the Return of Capital and Reduction of Capital, and the 2016 Annual Report are available on the Company's website at www.rqih.com.
Terms defined in the Circular have the same meaning when used in this announcement.
Ends
Enquiries to:
Randall & Quilter Investment www.rqih.com Holdings Ltd. Tom Booth Tel: +1 441 247 8330 Numis Securities Limited Stuart Skinner (Nominated Tel: 020 7260 Adviser) 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 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 close to 400 insurance professionals based in the UK, US, Bermuda, 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 the UK, US and Europe with net assets of GBP161m as at 31 December 2016;
-- 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 GBP5.6m as at 31 December 2016.
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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May 09, 2017 02:00 ET (06:00 GMT)
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