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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Resources In | LSE:RIIG | London | Ordinary Share | GB0006158686 | ORD 0.1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.21 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMRIIG
RNS Number : 9328M
Resources In Insurance Group PLC
30 August 2013
RESOURCES IN INSURANCE GROUP PLC
("RiIG", the "Group" or the "Company")
Final Results, Related Party Loan and Trading Update
Final Results
Further to the Company's trading update announcement of 25 June 2013, the Board of RiIG, a leading provider of claims management and consultancy solutions to the UK insurance profession, announces that its Audited Results for the 15 months to 31 March 2013 will be released no later than 30 September 2013 rather than today as previously announced.
Related Party Loan
To support the uplift in trading primarily through new business, the Board has secured additional working capital via the provision of loan capital of GBP150,000 from a significant shareholder, Bob Morton via Hawk Investment Holdings Limited. The interest on the loans is 1 per cent per month, payable monthly. The loan is repayable in August 2014. As Hawk Investment Holdings Limited is connected to Bob Morton, a substantial shareholder, the loan is considered to be related party transactions pursuant to Rule 13 of the AIM Rules for Companies. The Company's directors, having consulted with the Company's nominated adviser, Zeus Capital, consider that the terms of the loan are fair and reasonable insofar as the Company's shareholders are concerned.
Following the provision of the loan above, John French, through Spread Trustee Company Limited on behalf of The French Settlement, and Bob Morton, through Hawk Investment Holdings Limited, have provided loans totalling GBP251,500 and GBP285,000 respectively demonstrating their commitment to the future of the Company.
Trading Update
The Company is pleased to announce that it has been advised that it has secured, in competition with other parties, an important new contract from a leading name in the insurance sector. Terms have been agreed and we expect the contract to be signed in the near future when details will be announced. This confirms that RiIG is continuing to move forward on a positive platform based on increasing business from existing and new clients. This win follows the contract wins referred to in the RNS announcement of the 25 June 2013.
For further information:
Resources in Insurance Group plc John French, Executive Chairman www.riig.co.uk Nominated Adviser/and Joint Broker +44 (0) 7836 722 482 Zeus Capital Limited Ross Andrews / Andrew Jones +44 (0) 161 831 1512 Joint-Broker Peterhouse Capital Finance Limited Jon Levinson +44 (0) 20 7469 0935
Financial PR
Yellow Jersey PR Limited
Dominic Barretto / Harry Fielder +44 (0) 7768 537 739
This information is provided by RNS
The company news service from the London Stock Exchange
END
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