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22 Jun 2011 12:38
Date: | 22 June 2011 |
On behalf of: | Randall & Quilter Investment Holdings plc ("R&Q", "Randall & Quilter" or "the Company") |
For immediate release |
|
Randall & Quilter Investment Holdings PLC
Result of Annual General Meeting
Randall & Quilter (AIM: RQIH), the specialist non-life insurance investor, announces the result of voting on the resolutions at its Annual General Meeting ("AGM") held earlier today. Each of the resolutions was passed by the required majority. Details are set out below of the votes cast in respect of each resolution. In order to comply with the City Code on Takeovers and Mergers, Resolution 15 was passed on a poll.
The following table shows the votes cast on each resolution:
| Total Votes For | Total Chairman's Discretion | Total Votes Against | Votes Withheld |
Resolution 1 | 36,942,427 | 9,159 | 1,275 | 0 |
Resolution 2 | 36,938,927 | 7,159 | 4,775 | 0 |
Resolution 3 | 36,938,927 | 7,159 | 4,775 | 0 |
Resolution 4 | 36,936,135 | 7,159 | 6,775 | 792 |
Resolution 5 | 36,938,135 | 7,159 | 4,775 | 792 |
Resolution 6 | 36,920,635 | 7,159 | 4,775 | 18,292 |
Resolution 7 | 36,938,135 | 7,159 | 4,775 | 792 |
Resolution 8 | 36,934,927 | 7,159 | 4,775 | 4,000 |
Resolution 9 | 36,736,246 | 7,159 | 4,775 | 0 |
Resolution 10 | 36,914,827 | 7,159 | 20,875 | 8,000 |
Resolution 11 | 36,910,827 | 7,559 | 20,875 | 12,000 |
Resolution 12 | 36,919,527 | 7,159 | 12,775 | 11,400 |
Resolution 13 | 36,937,427 | 7,159 | 6,275 | 0 |
Resolution 14 | 36,921,927 | 7,159 | 4,775 | 17,000 |
Resolution 15 | 10,202,681 | 9,159 | 4,775 | 21,141,127 |
The number of votes validly cast on resolution 15 represented approximately 18.53% of the issued ordinary share capital of the Company.
If the authority granted by Resolution 12 (market purchases of own shares) were exercised in full by the Company and no disposals of Ordinary Shares of 2 6/91p each in the capital of the Company ("Ordinary Shares") by any member of the R&Q Concert Party (consisting of Ken Randall, his son, Mark Randall and Alan Quilter) took place and no other options or rights to subscribe for Ordinary Shares were exercised or taken up and no issues of Ordinary Shares made, the aggregate percentage of the voting rights in the Company attributable to the R&Q Concert Party, excluding shares deemed to be held in treasury, would represent approximately 59.12 per cent of the then issued Ordinary Shares.
ENDS
Enquiries:
Randall & Quilter Investment Holdings PLC www.rqih.co.uk
Tom Booth Tel: 020 7780 5850
Numis Securities Limited
Stuart Skinner (Nominated Adviser) Tel: 020 7260 1000
Charles Farquhar (Broker) Tel: 020 7260 1000
Shore Capital Stockbrokers Limited
Dru Danford/Stephane Auton Tel: 020 7408 4090
Redleaf Communications r&q@redleafpr.com
Emma Kane/Alicia Jennings Tel: 020 7566 6741
Notes to Editors:
Since formation, Randall & Quilter has pursued a buy and build strategy to create a comprehensive range of investment activities and services in the global non-life insurance market and is focused on the following four core areas:
- Insurance Investments;
- Insurance Services;
- Underwriting Management; and
- Captives.
The Group currently:
- has a portfolio of nine insurance companies in run-off (from the UK, US and Europe) with net assets of c.£73m as at 31 December 2010;
- has wide service capability in both the 'live' and 'run-off' markets
- has a team of approximately 350 insurance professionals based in the UK, USA, Bermuda, Canada and Gibraltar; and
- provides 'turnkey' management services to new Lloyd's syndicate 1897 and manages two RITC ('run-off') syndicates.
The Group was founded by Ken Randall, Executive Chairman and Chief Executive, and Alan Quilter, Group Finance Director, who both have extensive experience in the industry including as Head of Regulation of Lloyd's and as Head of the Market Financial Services Group respectively.
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