30 October, 2017
The Board of Randall & Quilter Investment Holdings Ltd. (AIM:RQIH) (the “Company”), the specialist non-life insurance investor, service provider and underwriting manager, today held the General Meeting referred to in the notice to shareholders of the Company dated 6 October 2017.
The resolutions set out in the notice convening the General Meeting have been duly passed.
The Company also announces that under the open offer of new ordinary shares (“Open Offer”), it received valid applications from Qualifying Shareholders (as defined in the circular posted on 6 October 2017 (the “Circular”)) in respect of an aggregate of 3,309,117 new ordinary shares, being the maximum amount available under the Open Offer.
Accordingly, a total of 34,883,720 new ordinary shares will be allotted under the firm placing of new ordinary shares (“Placing”) and 3,309,117 new ordinary shares will be allotted under the Open Offer. In aggregate the Company has raised approximately £49 million via the issue of 38,192,837 new ordinary shares (before expenses).
Application has been made for the new ordinary shares to be admitted to trading on AIM and it is expected that Admission will occur on 31 October 2017. Following Admission, the Company will have 125,875,620 shares in issue.
These Placing and Open Offer subscriptions by the Directors named in the official release (see below for link), are considered to constitute related party transactions pursuant to AIM Rule 13 of the AIM Rules. The Directors (excluding Ken Randall, Alan Quilter and Tom Booth) consider, having consulted with Numis, that the terms of the related party transactions are fair and reasonable insofar as shareholders of the Company are concerned.
A.M. Best has affirmed the Financial Strength Ratings of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a -“ of Accredited Surety and Casualty Company, Inc. (“ASC”) and Accredited Insurance (Europe) Limited (“AIEL”). ASC and AIEL are wholly owned …
Further to the announcement made on 7 February 2019 by the Company that it has conditionally raised gross proceeds of approximately £100 million through an oversubscribed placing of new ordinary shares (the “Placing”) and it is proposing to raise gross …
R&Q is pleased to announce that it has conditionally raised gross proceeds of approximately £100 million through an oversubscribed placing of new Ordinary Shares to investors and is proposing to raise gross proceeds of up to a further c. £7 million …