R&q Insurance Share Discussion Threads

[foreverbull] 13/6/2024 17:04

Do you think the Company started going downhill after Ken Randall retired and Alan Quilter's retirement excelerated the downfall ? Or is it things where pretty bad (toxic) when they aggressively acquired it and it's just crystallised recently?

[simon gordon] 13/6/2024 16:48

It seems most of the penny share dreamers are on London South East, not ADVFN.

Good luck.

[the codger] 13/6/2024 16:27

Blah blah blah

[simon gordon] 13/6/2024 16:19

Has been since the new Non-Execs, who specialise in liquidation/restructuring, joined the BoD.

BrandyWine has turned into a poison.

-

19 April 2024

R&Q Insurance Holdings Ltd (AIM-RQIH) ("R&Q" or the "Group") announces the appointments to the Board of Stephen Welch and Lawrence Hirsh as Non-Executive Directors, effective from 18 April 2024.

Stephen Welch has worked for financial sponsors and investors in both executive and non-executive roles. He has extensive experience managing complex corporate issues, including several restructuring situations of regulated financial services and insurance businesses. Stephen is also a Non-Executive Director of Telegraph Media Group Limited, The Spectator (1828) Limited and the Primary Group Limited. Stephen was a partner at McGrathNicol and a Senior Managing Director at FTI Consulting, and is a Chartered Accountant.

Lawrence Hirsh has acted as an independent board member and advisor to a number of companies, providing financial and operational services. Lawrence was previously a Managing Director for Alvarez & Marsal, leading its Southeastern US Corporate Restructuring Practice, and a Partner at Arthur Andersen LLP. As both an advisor and during his career, Lawrence has a track-record of helping drive operational improvements and cost reduction programs.

[the codger] 13/6/2024 16:11

We will see

[simon gordon] 13/6/2024 16:09

Oops, I read it wrong, they've not been able to do Legacy transactions since December.

Liquidation looks 100% nailed on.

[the codger] 13/6/2024 15:49

Those that panicked and sold,understandable
But certainly worth a punt here now

[foreverbull] 13/6/2024 15:00

This is brutal from RNS"The Directors believe that in such circumstances there would be very little, if any, chance of any value accruing to the Company's shareholders.""As stated in the Circular, if the Sale does not proceed on its original terms and the Available Net Cash Proceeds are not available to facilitate a financial de-leveraging of R&Q, R&Q will not be able to repay its debt facilities as they become due, and R&Q would therefore be unable to continue as a going concern."

[simon gordon] 13/6/2024 14:36

Is it possible that both businesses, Legacy and Fronting, will be destroyed by the toxic legacy book?

They've not been able to write new Fronting paper since December. Are customers looking for new partners?

Is Colin Johnson leaving a sign that the Fronting business is shot?

[tia01] 13/6/2024 14:26

Even a 1000% rise don’t help most investors so it’s a huge risk to throw good money after bad money. You’re a chaser in that situation. Best lose the first jump if there’s any hope than risk more but sometimes the gambles do pay off!

[foreverbull] 13/6/2024 10:47

Exactly.... That's what the management have indicated in the rns

[sbb1x] 13/6/2024 10:07

Just drop it to 0.2

[tomboyb] 13/6/2024 10:06

This is a zero I'm afraid -

Look @ the balance sheet and debt -

[foreverbull] 13/6/2024 08:40

Basically this has caused panic (extracts from RNS...."Shareholders should note that the implementation of the Alternative Proposal would involve the parent company, R&Q Insurance Holdings Ltd., filing for a provisional liquidation in Bermuda and then completing the sale of Accredited to Onex through that process. The provisional liquidators would then look to realise value from the Group's remaining assets. The Directors believe that in such circumstances there would be very little, if any, chance of any value accruing to the Company's shareholders.As stated in the Circular, if the Sale does not proceed on its original terms and the Available Net Cash Proceeds are not available to facilitate a financial de-leveraging of R&Q, R&Q will not be able to repay its debt facilities as they become due, and R&Q would therefore be unable to continue as a going concern.In the event that the Company were to enter provisional liquidation, R&Q would request that trading in the Company's ordinary shares on AIM be suspended immediately

[simon gordon] 13/6/2024 07:20

The CEO of Accredited Europe is leaving. Would imagine much of the top talent is being head hunted.

[sbb1x] 13/6/2024 07:10

#RQIH RNS out - looks like liquidation unfortunately

[tia01] 12/6/2024 10:49

The RSI and moving averages all positive

[gkace] 12/6/2024 10:25

the 65m payment is worth 17p per share

[gkace] 12/6/2024 09:09

here it goes. massive multi bag coming Available Net Cash Proceeds on closing are now expected to be between approximately $65 million and $110 million (previously $170 million and $210 million).

[foreverbull] 12/6/2024 07:14

Sale of legacy business??

[bri15] 12/6/2024 02:29

If the sale goes through this will spike, massively.

[foreverbull] 11/6/2024 14:57

Is this bottomed out? My sneaky guess is yes, any thoughts?