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Results of General Meeting and Open Offer

12 July, 2022

Randall & Quilter Investment Holdings Ltd. (AIM:RQIH), the leading non-life global specialty insurance company focusing on Program Management and Legacy Insurance businesses, is pleased to announce that, further to the announcement on 17 June 2022, the Resolutions put to Shareholders at the General Meeting held earlier today, to seek authority to issue and allot the New Ordinary Shares under the Conditional Issuance, were duly passed. Full details of the proxy voting results will be published on this website shortly.

Result of Open Offer

In addition, the Company is pleased to announce that valid applications have been received in respect of, and the Company will issue, 4,355,371 Open Offer Shares, raising gross proceeds of c. $5.5 million (£4.6 million) and taking the total proceeds of the Fundraise to c. $129.5 million (£107.3 million).

Admission & Total Voting Rights

Application has also been made for the Conditional Issuance Shares, totalling 74,758,355 new Ordinary Shares, to be admitted to trading on AIM and dealing will commence at 8.00 a.m. on or around 12 July 2022 (“Second Admission”). Following Second Admission the Company will have 377,395,235 Ordinary Shares in issue. The aforementioned figure of 377,395,235 Ordinary Shares may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA’s Disclosure Guidance and Transparency Rules.

William Spiegel, Executive Chairman of R&Q, said: “We are pleased to confirm the completion of our fundraise, with the strong level of investor appetite demonstrated by the significant upsizing of this to circa $129.5m in total. This new capital means R&Q enters the second half of the year with the balance sheet strength needed to underpin the growth we are seeing in Program Management and our well-established position as a leading global provider of Legacy Insurance solutions. We would like to thank our shareholders for their support and we look forward to R&Q moving ahead with renewed momentum and a clear focus on achieving our objectives for 2022 and beyond.”

Capitalised terms used, and not defined elsewhere, in this announcement shall have the meaning given to them in the announcement on 13 June 2022 regarding the proposed Placing to be conducted by way of the Bookbuild, save where the context requires otherwise.

Click here for the full press release.

Results of General Meeting and Open Offer

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