R&Q Insurance Holdings Ltd Appointment of Joint Provisional Liquidators
June 27 2024 - 2:00AM
RNS Regulatory News
RNS Number : 1206U
R&Q Insurance Holdings Ltd
27 June 2024
R&Q Insurance Holdings
Ltd
Appointment of Joint
Provisional Liquidators and Related Matters
27
June 2024
Further to the announcement on 24
June 2024 explaining that on 21 June 2024 R&Q Insurance
Holdings Ltd (AIM: RQIH) ("R&Q" or "the Company") had filed in the Supreme Court of
Bermuda an application to appoint joint provisional liquidators
("JPLs") to oversee the
liquidation and ultimately the winding up of the Company, a hearing
of an application took place at 11 am (Atlantic Daylight Time)
yesterday at which Michael Morrison, Mark Allitt and Charles Thresh
of Teneo (Bermuda) Limited were appointed as JPLs of
R&Q.
Consequently, Deutsche Numis
informed the Company of its intention to resign as Nominated
Adviser and Broker to the Company with immediate effect. The
Company's shares remain suspended from trading and pursuant to AIM
Rule 1, if a replacement Nominated Adviser is not appointed within
one month, the admission of the Company's shares to trading on AIM
will be cancelled. The Company has no intention of appointing a
replacement Nominated Adviser.
Shortly following the appointment of
the JPLs, Jeffrey Hayman, William Spiegel, Tom Solomon, Philip
Barnes, Eamonn Flanagan, Jo Fox, Lawrence Hirsh, Jerome Lande and
Robert Legett tendered their resignations as directors of the
Company.
As a consequence of the provisional
liquidation, it's anticipated that there will be very little, if
any, chance of any value accruing to the Company's
shareholders.
Any enquiries regarding the
provisional liquidation of R&Q should be submitted to:
RQIH-info@teneo.com.
-Ends-
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