REG - R&Q Insurance Hldgs - Result of Special General Meeting

R&Q Insurance HoldingsAnnouncement

13/09/2022 14:30

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RNS Number : 3135Z  R&Q Insurance Holdings Ltd  13 September 2022

13 September 2022

 

R&Q Insurance Holdings Ltd

 

Result of Special General Meeting

 

R&Q Insurance Holdings Ltd (AIM: RQIH) ("R&Q" or the "Company"), the
leading non-life global specialty insurance company focusing on Program
Management and Legacy Insurance businesses, announces the result of the
Special General Meeting ("SGM") held today.

 

In line with the Board's recommendations that shareholders should vote against
all of the resolutions and following a poll conducted at the meeting,
Resolutions 1 and 2 as set out in the notice convening the SGM have not been
approved by shareholders of the Company. The results of both resolutions put
to the SGM are set out below. The resolutions were proposed as ordinary
resolutions requiring the support of a minimum of 50% of the total votes cast
in order to be passed.

 

 Resolution                                        For                               Against                           Total votes cast  Total votes cast as % of Issued Share Capital  Votes Withheld
                                                   Number of Votes  % of votes cast  Number of votes  % of votes cast
 1.    To remove William Spiegel as a director     105,025,549      30.44%           239,997,677      69.56%           345,023,226       91.42%                                         1,697
 2.    To appoint Ken Randall as a director        121,227,672      35.14%           223,787,182      64.86%           345,014,854       91.42%                                         10,069

 

Alastair Campbell, Non-Executive Director, said:

 

 "We are pleased with the result of the meeting and would like to thank our
shareholders for their support. The certainty provided by this outcome means
that William, the Board and the management team can now ensure their full
focus is on executing against our strategy and delivering on our targets. The
R&Q Board will also continue with its priority of enhancing its
composition, including the appointment of an Independent Non-Executive
Chairman as soon as possible."

 

A copy of these votes is also available on the Company's website.

 

 -Ends-

 

Enquiries to:

 

 R&Q Insurance Holdings Ltd.           Tel: 020 7780 5850
 William Spiegel

 Alan Quilter
 Tom Solomon

 Fenchurch Advisory Partners LLP (Financial
 Adviser)               Tel: 020 (Tel:020) 7382 2222

Kunal Gandhi

Brendan Perkins

Richard Locke

Tihomir Kerkenezov

 Numis Securities Limited (Nominated Advisor & Joint Broker)  Tel: 020
 7260 1000
 Giles Rolls
 Charles Farquhar

 Barclays Bank PLC (Joint Broker)      Tel: 020 7632 2322

 Andrew Tusa

 Anusuya Nayar Gupta

 FTI Consulting                        Tel: 020 3727 1051

 Tom Blackwell

 

About R&Q

 

R&Q is a non-life global specialty insurance company operating two highly
complementary businesses: Program Management and Legacy Insurance. Both of
these businesses are leaders in markets with high barriers to entry and
significant growth opportunities. Legacy Insurance generates profits and
capital extractions from expert management of legacy non-life insurance
portfolios. Program Management generates commission income from its licensed
(and rated) carriers in the US, EU and the UK, writing niche and profitable
program business, largely on behalf of highly rated reinsurers.

 

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

 

Website: www.rqih.com (http://www.rqih.com/)

 

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