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RNS Number : 0369F R&Q Insurance Holdings Ltd 01 March 2024
R&Q Insurance Holdings Ltd
Comment on recent press speculation
1 March 2024
R&Q Insurance Holdings Ltd (AIM: RQIH) ("R&Q" or "the Company") notes
the recent press speculation regarding the Company.
In April 2023, the Board of R&Q announced that it was exploring strategic
options for the separation of its Program Management business, Accredited, and
its Legacy Insurance business. As announced on 20 October 2023, R&Q has
entered into a conditional agreement with funds advised by Onex Corporation to
sell 100% of its equity interest in Randall & Quilter America Holding
Inc., the holding company of the Accredited business. On the basis set out in
the circular sent to shareholders on 14 December 2023 and in recent
announcements, R&Q continues to work expeditiously towards achieving
satisfaction of the conditions to enable that sale to take place. R&Q
currently expects closing of that sale to occur in Q2 2024. In the meantime,
the Board of R&Q continues to evaluate any and all options so as to
realise value from its Legacy Insurance business for the benefit of all its
stakeholders, including its shareholders, whether that be through the ongoing
trading of that business or through alternative strategic options.
Further announcements will be made, as appropriate, in due course.
-Ends-
Enquiries to:
R&Q Insurance Holdings Ltd
Tel: +44 (0)20 7780 5850
Jeff Hayman
William Spiegel
Tom Solomon
Fenchurch Advisory Partners LLP (Financial
Adviser) Tel: +44
(0)20 7382 2222
Kunal Gandhi
Brendan Perkins
John Sipp
Richard Locke
Tihomir Kerkenezov
Barclays Bank PLC (Financial Adviser and Joint
Broker) Tel: +44 (0)20 7632
2322
Gary Antenberg
Richard Bassingthwaighte
Anusuya Nayar Gupta
Grant Bickwit
Howden Tiger (Financial Adviser)
Tel : +44 (0)20 7398 4888
Rob
Bredahl
Leo
Beckham
Deutsche Numis (Nominated Adviser and Joint
Broker) Tel : +44 (0)20
7260 1000
Charles
Farquhar
Giles
Rolls
FTI
Consulting
Tel: +44 (0)20 3727 1051
Tom
Blackwell
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