REG - R&Q Insurance Hldgs - Update

R&Q Insurance HoldingsAnnouncement

24/06/2024 07:00

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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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