Randall & Quilter Inv Hldgs Ltd Notice of AGM and Proposed Return of Capital (4723E)
May 09 2017 - 2:00AM
UK Regulatory
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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