REG - R&Q Insurance Hldgs - Shareholders approve sale of Accredited

R&Q Insurance HoldingsAnnouncement

11/01/2024 16:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240111:nRSK4435Za&default-theme=true

RNS Number : 4435Z  R&Q Insurance Holdings Ltd  11 January 2024

R&Q Insurance Holdings Ltd

Shareholders approve sale of Accredited

11 January 2024

R&Q Insurance Holdings Ltd (AIM: RQIH) ("R&Q" or "the Company")
provides an update following the special general meeting held earlier today.
Capitalised terms used, but not defined, in this announcement have the
meanings given to them in the circular sent to R&Q's shareholders on 14
December 2023 (the "Circular").

The Board is pleased to announce that, at the Special General Meeting held
earlier today, the resolution in relation to the proposed Sale of Accredited
was duly passed. Accordingly, shareholder approval to the Sale has been
obtained.  The results of the voting on the ordinary resolution put to the
Special General Meeting are set out below.

Notwithstanding shareholder approval, the Sale remains conditional on a number
of other matters, as explained in the Circular. R&Q continues to work
expediently towards satisfying all other remaining conditions to the Sale and
remains hopeful that appropriate agreements can be reached with all of its
lending banks, providers of credit and other finance providers (the "R&Q
Finance Providers") to enable the Sale to take place. Further details on all
these matters were set out in the Circular. Shareholders should note that
there is no guarantee that all conditions to the Sale will be satisfied (or
waived, if applicable) or that all necessary agreements will be reached with
all of the R&Q Finance Providers.  Closing of the Sale is expected to
occur in late Q1 2024 or early Q2 2024.

Further announcements will be made, as appropriate, in due course.

 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
 To approve the sale of Accredited  155,182,983      55.22%           125,838,348      44.78%           281,021,331       74.46%                                         1,009,618

 

-Ends-

This announcement contains inside information as stipulated under the UK
market abuse regulation no 596/2014, which is part of English law by virtue of
the European (withdrawal) act 2018, as amended.  On publication of this
announcement via a regulatory information service, this information is
considered to be in the public domain.

 Enquiries to:

R&Q Insurance Holdings Ltd

 Tel: +44 (0)20 7780 5850                                                                                                                                                                        Tel: 020 3727 1051

 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

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCGPUBAGUPCGAG