Randall & Quilter Inv Hldgs Ltd Notice of AGM and Proposed Return of Capital (3162O)
May 17 2018 - 1:00AM
UK Regulatory
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: 0207 780
5943
Numis Securities Limited (Nominated Adviser)
Stuart Skinner Tel: 020 7260
1000
Charles Farquhar 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
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
END
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