• Strategy
  • Innovation
  • Expertise

Scheme of Arrangement – Court Approval

3 July, 2013

The directors of Randall & Quilter (AIM:RQIH), the specialist non-life insurance investor, service provider and underwriting manager, are  pleased to announce that the High Court of England and Wales (“Court”) has today approved the scheme of arrangement between Randall &  Quilter Investment Holdings plc (“Old R&Q”) and its members under sections 895 to 899 of the Companies Act 2006 (the “Scheme”) at the Scheme Sanction Hearing.

The Scheme, which is expected to become effective on 5 July 2013 following the completion of certain mechanical processes, will result in New R&Q, which has adopted the name Randall & Quilter Investment Holdings Ltd., becoming the holding company of Old R&Q.

On the Scheme becoming effective, Scheme Shareholders will receive one new R&Q share for every one Old R&Q Share held at the Scheme Record Time (expected to be 6.00 p.m. (BST) on 4 July 2013).

Subject to the completion of necessary mechanical processes, it is expected that the cancellation of the Old R&Q Shares and the issue of the New R&Q Shares to Scheme Shareholders will each occur at 7:00 a.m. (BST) on 5 July 2013; and that the cancellation of the Old R&Q Shares from trading on AIM, the admission of New R&Q Shares to trading on AIM, the crediting of Depository Interests representing New R&Q Shares held in uncertificated form to CREST accounts and the commencement of dealings in New R&Q Shares on AIM, will each occur at 8:00 a.m. (BST) on 5 July 2013. The Company will make an appropriate announcement to the market on these events taking place.

The ticker for New R&Q shares will remain the same (AIM:RQIH), while there will be a new ISIN for New R&Q, which is BMG7371X1065, applicable upon Admission.

Capitalised terms used but not defined in this announcement have the meaning given to them in the circular despatched to shareholders of Old R&Q on 17 May 2013.

Click to download the full press release

Scheme of Arrangement – Court Approval

Latest News

Directors’ Shareholding/Total Voting Rights
Directors’ Shareholding/Total Voting Rights

The Company has been notified that on 11 July 2019 Alan Quilter, Joint Chief Executive Officer and Chief Financial Officer of the Company, sold 400,000 of his holding of ordinary shares in the Company. Mr Quilter continues to hold 2,992,088 …

Loss Portfolio Transfer
Loss Portfolio Transfer

Randall & Quilter Investment Holdings Ltd. (‘R&Q’ or ‘the Group’) is pleased to announce that its wholly owned subsidiary, Accredited Surety & Casualty Company Inc (‘ASCC’), has signed a loss portfolio transfer agreement with Northern California Regional Liability Excess Fund …

Acquisition Announcement
Acquisition Announcement

Randall & Quilter Investment Holdings Ltd. (‘R&Q’ or ‘the Group’) is pleased to announce that its wholly owned subsidiary, Randall & Quilter II Holdings Limited, has signed an agreement to acquire, subject to regulatory approval from the Bermuda Monetary Authority …