RNS Number : 5452J
R&Q Insurance Holdings Ltd
16 August 2023
 

 

R&Q Insurance Holdings Ltd

("R&Q" or the "Company")

 

PDMR/Director Shareholding and Total Voting Rights

 

R&Q announces that 1,210,707 restricted ordinary shares of 2p each ("Ordinary Shares") awarded to Thomas Solomon, a director, in August 2020, vested on 14 August 2023. To fund tax liabilities arising from the vesting Thomas Solomon has sold 541,612 Ordinary Shares which, in accordance with the share award agreement, have been purchased by the Company to be held in Treasury.

R&Q also announces that 509,672 restricted ordinary shares of 2p each ("Ordinary Shares") awarded to Patrick Rastiello, a PDMR, in September 2020, vested on 14 August 2023. To fund tax liabilities arising from the vesting Patrick Rastiello has sold 208,714 Ordinary Shares which, in accordance with the share award agreement, have been purchased by the Company to be held in Treasury.

Director Dealing

Name of Director

Total Restricted Ordinary Shares Vested

Total Ordinary Shares Sold

Total Ordinary Shares Retained

Total R&Q Ordinary Shares now held

% of voting rights

Thomas Solomon

1,210,707

541,612

669,095

1,223,957

0.33%

PDMR Dealing

Name of Director

Total Restricted Ordinary Shares Vested

Total Ordinary Shares Sold

Total Ordinary Shares Retained

Total R&Q Ordinary Shares now held

% of voting rights

Patrick Rastiello

509,672

208,714

300,958

339,625

0.09%

 

Total Voting Rights

As a result of this transaction the total issued share capital will remain 377,395,235 Ordinary Shares. Of which 3,572,697 Ordinary Shares are now held in Treasury. Therefore, the total number of voting rights will be 373,822,538 and 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 FCA's Disclosure Guidance and Transparency Rules.

 

 



Enquiries to:

 

R&Q Insurance Holdings Ltd


William Spiegel

Tel: 0207 780 5850

Tom Solomon 

Tel: 0207 780 5850

 

Numis Securities Limited (Nominated Advisor and Joint Broker)

Giles Rolls 

Tel: 020 7260 1000

Charles Farquhar 

 

Barclays Bank PLC (Joint Broker)

Andrew Tusa

Richard Bassingthwaighte

 

Tel: 020 7260 1000

 

 

Tel: 020 7632 2322

FTI Consulting

Tom Blackwell

 

Tel: 020 3727 1051

 

 

     Notes to Editors:

 

About R&Q 

 

R&Q is a global non-life specialty insurance company. We operate two core, highly complementary, businesses: Program Management and Legacy Insurance. Both these businesses are leaders in their respective markets.

 

Our approach is to deploy our origination and underwriting capabilities, alongside our licensed and rated carriers in the US, EU and the UK, to generate attractive fee returns in Program Management and Legacy Insurance.

 

Legal Entity Identifier (LEI): 2138006K1U38QCGLFC94

 

Website: www.rqih.com

                                                               

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

  

1

Details of the person discharging managerial responsibility / person closely associated

 

 

a)

 

Name

 

Thomas Solomon  

2

Reason for the notification

 

a)

 

Position/status

 

PDMR (Executive Director)

 

b)

 

Initial notification/amendment

 

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

R&Q Insurance Holdings Ltd

 

b)

 

LEI

 

2138006K1U38QCGLFC94

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

 

a)

 

Description of the financial instrument, type of instrument

 

Ordinary shares of 2 pence each of the Company

 

 

Identification code

 

Ordinary share ISIN: BMG7371X1065

 

 

b)

 

Nature of transaction

1. Vesting of 1,210,707 Ordinary Shares

2.Sale of 541,612 Ordinary Shares

 

c)

 

Price(s) and volume(s)

 

Price(s)

 

Volume(s)

 

1.   Par value of 2p at Grant

Par value of 2p: £24,214.14

 

 

 

 

2    £0.53

 

 

 

Sale of 541,612 shares for a total consideration of £287,054.22

 

 

 

d)

 

Aggregated information

 

 

Aggregated volume

As above

 

 

Price

 

As above

 

 

e)

 

Date of transaction

 

14 August 2023  

 

 

f)

 

Place of transaction

 

Outside of trading location

 

 

 

1

Details of the person discharging managerial responsibility / person closely associated

 

 

a)

 

Name

 

Patrick Rastiello  

2

Reason for the notification

 

a)

 

Position/status

 

PDMR (Senior Executive)

 

b)

 

Initial notification/amendment

 

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

 

a)

 

Name

 

R&Q Insurance Holdings Ltd

 

 

 

b)

 

LEI

 

2138006K1U38QCGLFC94

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

 

 

a)

 

Description of the financial instrument, type of instrument

 

Ordinary shares of 2 pence each of the Company

 

 

Identification code

 

Ordinary share ISIN: BMG7371X1065

 

 

b)

 

Nature of transaction

1. Vesting of 509,672 Ordinary Shares

2.Sale of 208,714 Ordinary Shares

 

c)

 

Price(s) and volume(s)

 

Price(s)

 

Volume(s)

 

1.   Par value of 2p at Grant

Par value of 2p: £10,034.76

 

 

 

 

2    £0.53

 

 

 

Sale of 208,714 shares for a total consideration of £110,618.53

 

 

 

d)

 

Aggregated information

 

 

Aggregated volume

As above

 

 

Price

 

As above

 

 

e)

 

Date of transaction

 

14 August 2023  

 

 

f)

 

Place of transaction

 

Outside of trading location

 

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