Randall & Quilter Inv Hldgs Ltd Notice of AGM and Proposed Return of Capital (3162O)

TIDMRQIH

RNS Number : 3162O

Randall & Quilter Inv Hldgs Ltd

17 May 2018

Randall & Quilter Investment Holdings Ltd.

("R&Q", the "Group" or the "Company")

Notice of AGM and Proposed Return of Capital to Shareholders of 5.4 pence per Ordinary Share and Reduction of Capital

17 May 2018

Following the announcement of the Group's full year results on 30 April 2018, 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 12:00 p.m. on 11 June 2018 at 71 Fenchurch Street, Ground Floor, London EC3M 4BS ("Annual General Meeting"), has been posted to the Company's shareholders today ("Circular").

The Return of Capital involves the creation and capitalisation of the Z 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 Z Share for each Ordinary Share held by them at 6.00 p.m. on 11 June 2018.

-- On or around 12 June 2018, the Z Shares will be cancelled pursuant to the Reduction of Capital and holders of the Z Shares will be paid the capital paid up on the Z Shares (being 5.4 pence per Z Share).

-- Payments in respect of the Return of Capital are expected to be made on or around 18 June 2018.

The Return of Capital (including the creation and capitalization of the Z 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 is 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-

 
  Randall & Quilter Investment 
    Holdings Ltd. 
   Alan Quilter                     Tel: [phone] 
                                     5943 
 
    Numis Securities Limited (Nominated Adviser) 
   Stuart Skinner                   Tel: [phone] 
                                     1000 
   Charles Farquhar                 Tel: [phone] 
                                     1000 
 
    Shore Capital Stockbrokers Limited 
   Dru Danford / Stephane Auton     Tel: [phone] 
                                     4090 
   FTI Consulting 
    Edward Berry/Tom Blackwell       Tel: [phone] 
                                     1046 
 

Notes to Editors:

About R&Q

The overall mission of the Bermuda based Group is to:

   --     generate profits and capital extractions from expert management of legacy non-life insurance acquisitions/ reinsurances, including in Lloyd's; and 

-- grow commission income from its licensed (and rated) carriers in the US and EU/UK, writing niche and profitable programme business, largely on behalf of highly rated reinsurers.

Our aim is to continue to grow sustainable profit streams to support our business model and increase book value and cash distributions to shareholders.

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

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May 17, 2018 02:00 ET (06:00 GMT)