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Randall & Quilter Investment Holdings Ltd - Bermuda-based firm focused on non-life legacy insurance and program management - Completes share exchange and the allotment of shares to Brickell Insurance Holdings LLC in exchange for the transfer of its shares in Randall & Quilter PS Holdings Inc. Exchanges 49.8 million shares in an USD80 million deal. R&Q will have 274.2 million shares in issue following exchange.
"We are pleased to announce today that sufficient regulatory approvals have now been obtained and therefore Brickell has elected to exchange the preferred stock for new ordinary shares in the company. The total number of ordinary shares which Brickell will receive has been adjusted, pursuant to the terms of the original subscription, to take into account the bonus share issue approved at the company's annual general meeting held on July 9, 2020," R&Q adds.
Current stock price: 185.50 pence
Year-to-date change: up 5.4%
By Paul McGowan; paulmcgowan@alliancenews.com
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