REG - R&Q Insurance Hldgs - Comment on recent press speculation

R&Q Insurance HoldingsAnnouncement

01/03/2024 07:00

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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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