30 June 2011
On behalf of:
Randall & Quilter Investment Holdings plc ("R&Q", "Randall & Quilter" or "the Company")
Randall & Quilter Investment Holdings PLC
Transaction in own shares
Randall & Quilter (AIM: RQIH), the specialist non-life insurance investor, today announces it has purchased 55,569 Ordinary Shares of 2 6/91p each at an average price of 124.15 pence per share.
The highest price and lowest price paid for these shares was 124.5 and 123.0 pence respectively. All the purchased shares will be cancelled.
The number of Ordinary Shares purchased represents approximately 0.10% of the voting rights* attributable to the total Ordinary Shares in issue prior to such purchases.
Prior to the cancellation of any of the shares purchased by the Company since it began its repurchase programme on 23 June 2011, the Company has 55,133,002 Ordinary Shares in issue and following the cancellation, the Company is expected to have 51,210,039 Ordinary Shares in issue, including 718,338 Ordinary Shares held by the Company's employee benefit trust (EBT) which has waived its voting and dividend rights in respect of such shares and which the Company therefore treats as held in treasury. Accordingly, there are expected to be 50,491,701 Ordinary Shares in issue with exercisable voting rights following the repurchases.
The above figures may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.
* The denominator in this calculation excludes the shares held by the EBT, which are deemed to be held in treasury as voting rights have been waived in respect of these shares.
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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 email@example.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
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, Chief Operating Officer, 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.