REG - R&Q Insurance Hldgs - Appointment of Joint Provisional Liquidators

R&Q Insurance HoldingsAnnouncement

27/06/2024 07:00

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RNS Number : 1206U  R&Q Insurance Holdings Ltd  27 June 2024

 

R&Q Insurance Holdings Ltd

Appointment of Joint Provisional Liquidators and Related Matters

27 June 2024

Further to the announcement on 24 June 2024 explaining that on 21 June 2024
R&Q Insurance Holdings Ltd (AIM: RQIH) ("R&Q" or "the Company") had
filed in the Supreme Court of Bermuda an application to appoint joint
provisional liquidators ("JPLs") to oversee the liquidation and ultimately the
winding up of the Company, a hearing of an application took place at 11 am
(Atlantic Daylight Time) yesterday at which Michael Morrison, Mark Allitt and
Charles Thresh of Teneo (Bermuda) Limited were appointed as JPLs of R&Q.

Consequently, Deutsche Numis informed the Company of its intention to resign
as Nominated Adviser and Broker to the Company with immediate effect. The
Company's shares remain suspended from trading and pursuant to AIM Rule 1, if
a replacement Nominated Adviser is not appointed within one month, the
admission of the Company's shares to trading on AIM will be cancelled. The
Company has no intention of appointing a replacement Nominated Adviser.

Shortly following the appointment of the JPLs, Jeffrey Hayman, William
Spiegel, Tom Solomon, Philip Barnes, Eamonn Flanagan, Jo Fox, Lawrence Hirsh,
Jerome Lande and Robert Legett tendered their resignations as directors of the
Company.

As a consequence of the provisional liquidation, it's anticipated that there
will be very little, if any, chance of any value accruing to the Company's
shareholders.

Any enquiries regarding the provisional liquidation of R&Q should be
submitted to: RQIH-info@teneo.com (mailto:RQIH-info@teneo.com) .

-Ends-

   Media Enquiries:

Joint Provisional
 Liquidators

 Douglas Campbell (douglas.campbell@teneo.com
 (mailto:douglas.campbell@teneo.com) )

 Laura Marshall (laura.marshall@teneo.com)

 

 

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