image

AIM RULE 26 DISCLOSURE

AIM RULE 26 DISCLOSURE

The following information is disclosed further to Rule 26 of the AIM Rules:

Description of Business

R&Q Insurance Holdings Ltd (Provisional Liquidators Appointed) is a diverse insurance group, headquartered in Bermuda and with operations in the UK and the US. The Group is a leading provider of finality solutions for run-off portfolios.

Country of Incorporation and Main Country of Origin

R&Q Insurance Holdings Ltd (Provisional Liquidators Appointed) is incorporated in Bermuda. Operations are predominantly located in Bermuda, the US, Malta and the UK.

Statement on Shareholders Rights

As a Bermuda incorporated company, the rights of shareholders may be different from the rights of shareholders in a UK incorporated company.

Constitutional Documents

Click here to view the Company’s Bye-Laws.

Trading Platform

The Company is listed on the Alternative Investment Market (AIM) 100 Index of the London Stock Exchange and the OTCQX Best Market, a US trading platform that is operated by OTC Markets Group.

Due to the Company entering provisional liquidation, its shares are currently suspended on AIM and will cease trading on all markets on 26 July 2024.

The Company’s  $70,00,000 Senior Unsecured Guaranteed Floating rate Notes due 2028 were admitted to trading on the Global Exchange Market of Euronext Dublin on 27 March 2019.

The Company’s $125 million Unsecured Floating Rate Notes due 2033 were admitted to trading on the Global Exchange Market of Euronext on 31 March 2021.

For a copy of the more recent written resolution and amendment documentation in respect of these notes, click here.

Issued Share Capital

Total shares in issue: 377,395,235 2p Ordinary Shares as at last close.
Total voting shares in issue: 373,532,305 2p Ordinary Shares as at last close.

Significant Shareholders Information

 

Shareholder Name Amount % Holding
Brickell PC Insurance Holdings LLC 47,604,083 12.74
Obra Capital Management, LLC (formerly Vida Capital Management LLC) 34,218,366 9.16
Gresham House Asset Management Ltd 28,715,000 7.69
Scopia Capital Management LP 26,342,148 7.05
GLG Partners LP 22,242,024 5.95
Two Seas Global Master Fund 16,684,794 4.47
Hudson Structured Capital Management 15,966,385 4.27
Phoenix Asset Management Partners Limited 14,665,751 3.93
Slater Investments 13,554,895 3.63
Harwood Capital Management (Gibraltar) Limited 13,250,002 3.55

 

Shares not in public hands

Total Amount % Holding
Total 142,871,831 38.226

 

Shares held in Treasury

Total Amount
Total 3,862,930

 

Information correct as at 2 July 2024

 

Notifications of Major Interest in Shares

Date Company Download
20/06/2024 Two Seas Global Master Fund Click Here
20/06/2024 Gresham House Asset Management Ltd Click Here
19/06/2024 Two Seas Global Master Fund Click Here
19/06/2024 Slater Investments Click Here
18/06/2024 GLG Partners LP Click Here
17/06/2024 Slater Investments Click Here
14/06/2024 Slater Investments Click Here
11/03/2024 Two Seas Global Master Fund Click Here
20/12/2023 Scopia Capital Management LP Click Here
15/11/2023 Scopia Capital Management LP Click Here
13/10/2023 Two Seas Global Master Fund Click Here
18/09/2023 Two Seas Global Master Fund Click Here
18/08/2023 Aberdeen Standard Investments Click Here
17/07/2023 GLG Partners LP Click Here
06/06/2023 Gresham House Asset Management Ltd Click Here
05/06/2023 J O Hambro Capital Management Ltd Click Here
02/06/2023 GLG Partners LP Click Here
15/05/2023 Gresham House Asset Management Ltd Click Here
10/05/2023 GLG Partners LP Click Here
10/05/2023 J O Hambro Capital Management Ltd Click Here
01/03/2023 Scopia Capital Management LP Click Here
17/10/2022 Phoenix Asset Management Partners Limited Click here
31/08/2022 Gresham House Asset Management Ltd Click here
02/08/2022 Phoenix Asset Management Partners Limited Click here
13/07/2022 GLG Partners LP Click here
13/07/2022 Brickell PC Insurance Holdings LLC Click here
13/07/2022 Vida Longevity Fund, LP Click here
13/07/2022 Vida Insurance Credit Opportunity Fund III, LP Click here
13/07/2022 Vida Insurance Credit Opportunity Fund II, LP Click here
13/07/2022 Phoenix Asset Management Partners Limited Click here
12/07/2022 Harwood Capital Management (Gibraltar) Limited Click here
12/07/2022 Slater Investments Click here
06/07/2022 Brickell PC Insurance Holdings LLC Click here
30/06/2022 Vida Longevity Fund, LP Click here
30/06/2022 Vida Insurance Credit Opportunity Fund III, LP Click here
30/06/2022 Vida Insurance Credit Opportunity Fund II, LP Click here
15/06/2022 GLG Partners LP Click here
15/06/2022 Slater Investments Click here
24/05/2022 GLG Partners LP Click here
04/05/2022 J O Hambro Capital Management Ltd Click here
04/04/2022 Slater Investments Click here
25/03/2022 Slater Investments Click here

 

Restrictions on Transfer

The rights attaching to the Ordinary Shares are set out in the Company’s Bye-Laws.

Annual Accounts

Click here to view the annual accounts for the Company.

Notifications

Click here to view the Company’s announcements.

Admission Document

The Company’s shares were admitted to AIM on 5 July 2013.

Click here to view the admission document.

Corporate Governance Code

The Company has adopted the Quoted Companies Alliance Code for Small & Mid-sized Quoted Companies 2018.

Click here to view the statement setting out how we are complying with the 10 principles.

Takeover Code

As a Bermuda domiciled entity, the Company is not subject to the City Code on Takeovers and Mergers. There is no equivalent in Bermuda. Relevant provisions are, however, contained in the Bermuda Companies Act 1981 and the Company’s Bye-Laws.

Adviser Contacts

Joint Broker
Barclays Bank PLC
Barclays 5 The North Colonnade
Canary Wharf
London
E14 4BB

Auditors and Reporting Accountants
PKF Littlejohn LLP
1 Westferry Circus
Canary Wharf
London
E14 4HD

Principal Bankers
NatWest Bank PLC
250 Bishopsgate
London
EC2M 4AA

Registrar
Computershare Investor Services (Bermuda) Limited
5 Reid Street
Hamilton HM11
Bermuda