Brief: R&Q Insurance Hldgs Issues Update On Proposed Sale Of Accredited

R&Q Insurance Holdings

24/04/2024 17:46

April 24 (Reuters) - R&Q Insurance Holdings Ltd
 RQIH.L :
    * R&Q INSURANCE HLDGS  - UPDATE ON PROPOSED SALE OF
ACCREDITED
    * R&Q INSURANCE HOLDINGS LTD: BELIEVES LEGACY PLAN OUTLINED
IN
CIRCULAR PUBLISHED ON 14 DECEMBER 2023 REMAINS ACHIEVABLE
    * R&Q INSURANCE-  ENTERED LOCK-UP AGREEMENT WITH SYNDICATE
MEMBERS
OF MAIN BANKING FACILITY, SYNDICATE MEMBERS OF FALLOC, PROVIDER
OF SAFER LC
    * R&Q INSURANCE HOLDINGS LTD: LEGACY PLAN MAY NOW TAKE
LONGER TO
FULLY IMPLEMENT THAN PREVIOUSLY OUTLINED
    * R&Q INSURANCE HOLDINGS LTD: CONTINUES TO EVALUATE ANY AND
ALL
OPTIONS TO REALISE VALUE FROM ITS LEGACY INSURANCE BUSINESS
    * R&Q INSURANCE- LOCK-UP DEAL ALSO WITH SENIOR NOTES
HOLDERS,
PROVIDER OF CAYMAN LC FACILITY & BERMUDA LC FACILITY, MAJORITY
OF SUBORDINATED NOTES HOLDERS
    * R&Q INSURANCE HOLDINGS LTD: AVAILABLE NET CASH PROCEEDS ON
CLOSING OF SALE ARE NOW EXPECTED TO BE BETWEEN ABOUT $65 MILLION
AND $110 MILLION

Source text for Eikon:  ID:nRSX9255La 
Further company coverage:  RQIH.L 

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