REG - R&Q Insurance Hldgs - Appointment of Non-Executive Directors

R&Q Insurance HoldingsAnnouncement

19/04/2024 07:00

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RNS Number : 2401L  R&Q Insurance Holdings Ltd  19 April 2024

R&Q Insurance Holdings Ltd

 

Appointment of Non-Executive Directors

 

19 April 2024

 

R&Q Insurance Holdings Ltd (AIM-RQIH) ("R&Q" or the "Group") announces
the appointments to the Board of Stephen Welch and Lawrence Hirsh as
Non-Executive Directors, effective from 18 April 2024.

 

Stephen Welch has worked for financial sponsors and investors in both
executive and non-executive roles. He has extensive experience managing
complex corporate issues, including several restructuring situations of
regulated financial services and insurance businesses. Stephen is also a
Non-Executive Director of Telegraph Media Group Limited, The Spectator (1828)
Limited and the Primary Group Limited. Stephen was a partner at McGrathNicol
and a Senior Managing Director at FTI Consulting, and is a Chartered
Accountant.

 

Lawrence Hirsh has acted as an independent board member and advisor to a
number of companies, providing financial and operational services. Lawrence
was previously a Managing Director for Alvarez & Marsal, leading its
Southeastern US Corporate Restructuring Practice, and a Partner at Arthur
Andersen LLP. As both an advisor and during his career, Lawrence has a
track-record of helping drive operational improvements and cost reduction
programs.

 

Jeff Hayman, Chairman of R&Q, said: "Stephen and Lawrence both bring
relevant additional experience to the Board, in particular with regards to our
priorities of reducing debt and improving the efficiency and expense base of
the go-forward business. As we continue to work towards completing the sale of
Accredited, these appointments also support our ongoing discussions with
lenders to achieve their necessary approvals."

 

 

Regulatory disclosure - The following disclosures are made in accordance
with Schedule 2(g) of the AIM Rules for Companies:

 

Lawrence Randall Hirsh, aged 61, holds no ordinary shares or options in the
Company. Lawrence Hirsh's current and previous directorships are as follows:

 

 Current Partnerships / Directorships               Previous Partnerships / Directorships (last 5 years)
 Acousti Engineering Company Of Florida              Alvarez & Marsal North America, LLC
 Air Pros Solutions, LLC                            American Physician Partners, LLC
 Angel Oak Mortgage Income Opportunity Fund LLC     Angel Oak Bridge Lending Fund
 Angel Oak Real Estate Investment Trust I           Central Security Group, INC
 Angel Oak Real Estate Investment Trust II          Georgia Renewable Power, LLC
 Angel Oak Real Estate Investment Trust II LP       Sierra Hamilton Holdings Corporation
 Angel Oak Real Estate Investment Trust III         Sierra Hamilton LLC
 CSI Financial Services, LLC                        Vondrehle Corporation
 Hylan Novellus, LLC
 Marx Okubo Associates, Inc
 Pluto Parent, LLC
 Premier Kings Of Alabama, LLC
 Premier Kings, Inc.
 PRGX Global Inc.
 Redlobster management, LLC
 Tom Barrow Company, INC
 Verano Holdings Corporation
 Virtex Investment Holdings, LLC

  Alvarez & Marsal North America, LLC
 American Physician Partners, LLC
 Angel Oak Bridge Lending Fund
 Central Security Group, INC
 Georgia Renewable Power, LLC
 Sierra Hamilton Holdings Corporation
 Sierra Hamilton LLC
 Vondrehle Corporation

 

In his role as a restructuring advisor at Alverez and Marshall, Lawrence Hirsh
was on the board of the following companies at the time of the following
insolvency processes:

 

·      American Physician Partners - Chapter 11 in 2023

·      Vondrehle Corporation - Receiver appointed in 2023

·      Product quest manufacturing - Chapter 11 2018

 

 

Stephen Hamilton Welch, aged 50, holds no ordinary shares or options in the
Company. Stephen Welch's current and previous directorships are as follows:

 

 

 Current Partnerships / Directorships                                               Previous Partnerships / Directorships (last 5 years)
 B.UK. Limited                                                                      ABS Limited
 Best Doctors Insurance Limited                                                     Alter Domus Management Company SA
 Cadmus Media Group Holdings Limited (formerly known as Telegraph Media Group       Alter Domus SARL
 Holdings Limited)                                                                  Essar Oil (UK) Limited
 Ellerman Investments Limited (formerly known as Barclays Hotels Group Limited)     The Raynar Investment Trust PLC
 Globoforce Group plc (subject to legal proceedings)
 May Corporation Limited
 Press Acquisitions Limited (formerly known as 2252nd Single Member Shelf
 Investment Company Limited)
 Press Holdings Limited
 Primary Group Ltd
 Rodimus Holdings Ltd
 Rodimus Infrastructure Ltd
 Rodimus Operations Limited (formerly known as Hamilton Welch Limited)
 Rodimus Securities Ltd
 Telegraph Media Group Holdings Limited (formerly known as Hackremco (No.2679)
 Limited)
 Telegraph Media Group Limited (formerly known as Telegraph Group Limited)
 The Chelsea Magazine Company Limited
 The Spectator (1828) Limited (formerly known as The Spectator (1975) Limited)

 ABS Limited
 Alter Domus Management Company SA
 Alter Domus SARL
 Essar Oil (UK) Limited
 The Raynar Investment Trust PLC

 

In his role as a restructuring advisor, Stephen Welch was on the board of the
following companies at the time of their insolvency processes:

·      ABS Limited - solvent scheme of arrangement

·      Bakeholdco 1, 2, 3 & 4 - creditors voluntary winding up in
2015

 

In addition, following the sale of the UK broking operations, Stephen Welch
acted as a director and senior creditor petitioning the wind-up of R P Martin
Group and associated group companies: MBG Europe Limited, WOWS 1 Limited, WOWS
8 Limited and R P Martin AG, which was a nil assets dormant subsidiary.

 

Save for the disclosures above, there are no further disclosures to be made in
accordance with Rule 17 and Schedule 2(g) of the AIM Rules.

 

 

 

-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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