RQIH R&q Insurance Holdings Ltd

TIDMRQIH

RNS Number : 9767U

Randall & Quilter Inv Hldgs Ltd

03 August 2020

Randall & Quilter Investment Holdings Ltd.

("R&Q", the "Group" or the "Company")

Allotment of Shares

3 August 2020

Further to the appointment of Tom Solomon as Chief Financial Officer, the Company has issued a total of 1,210,707 new ordinary shares of 2p each to Tom Solomon in accordance with his remuneration package. The award represents 0.54% of the shares in issue. The shares will not vest until 13 August 2023, being the third anniversary of the date of hire subject to Tom's continued employment with the Company. Vesting of the award will be accelerated if Tom's employment is terminated prior to the third anniversary by the Company without cause or by Tom for good reason or if a change in control of the Company occurs. Tom will forfeit the shares if the Company terminates his employment for cause prior to vesting or if he terminates without good reason.

Applications will be made to the London Stock Exchange for the admission of the 1,210,707 new ordinary shares to trading on AIM. Admission of the new shares is expected to take place on 13 August 2020.

As a result of this transaction the total issued share capital of the Company will increase to 223,885,612.There are 111,525 shares held in Treasury and the total voting rights will therefore be 223,774,087.

-Ends-

 
  Randall & Quilter Investment Holdings Ltd. 
    Ken Randall                                  Tel: +44 (0)7831 145440 
     William Spiegel                              Tel: +001 917 826 5877 
    Numis Securities Limited (Nominated Adviser) 
    Stuart Skinner / Huw Jeremy                  Tel: 020 7260 1000 
    Charles Farquhar                             Tel: 020 7260 1000 
 
     Shore Capital Stockbrokers Limited 
    Stephane Auton                               Tel: 020 7408 4090 
     James Thomas 
 
     FTI Consulting                               Tel: 020 3727 1046 
     Edward Berry 
     Tom Blackwell 
 

Notes to Editors:

About R&Q

R&Q is a non-life global specialty insurance company operating two core, highly complementary, businesses: Program Management and Legacy Insurance. Both these businesses are leaders in markets with high barriers to entry and significant secular growth opportunities.

Legacy Insurance generates profits and capital extractions from expert management of legacy non-life insurance portfolios. Program Management generates commission income from its licensed (and rated) carriers in the US, EU and the UK, writing niche and profitable program business, largely on behalf of highly rated reinsurers.

For the financial year ended 31 December 2019 R&Q reported pre-tax profits of over GBP40 million.

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

Website: www.rqih.com

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END

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