24 Jun 2024 07:00
RNS Number : 4910T
R&Q Insurance Holdings Ltd
24 June 2024
R&Q Insurance Holdings Ltd
Update
24 June 2024
R&Q Insurance Holdings Ltd (AIM: RQIH) ("R&Q" or "the Company") announced on 19 June 2024 that R&Q will be filing for provisional liquidation in Bermuda in due course.
R&Q confirms that, on 21 June 2024, at approximately 15.30 Bermuda time (19.30 BST) the Company filed, in the Bermuda Supreme Court, an application to appoint Joint Provisional Liquidators to oversee the liquidation and ultimately the winding up of the Company and a petition to take the initial steps to commence that winding up of the Company.
The Company anticipates that this process will result in the prompt closing of the sale of the Company's program management business, Accredited, to funds advised by Onex Corporation, as referred to in the Company's previous announcements. The Board believes that this will provide the best possible result in the circumstances for the Company's stakeholders.
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 Ankura Consulting (Europe) (Debt Financial Adviser) Tel : +44 (0)20 7469 1111 Alistair Dick FTI Consulting Tel: +44 (0)20 3727 1051 Tom Blackwell |
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