RNS Number : 4435Z
R&Q Insurance Holdings Ltd
11 January 2024

R&Q Insurance Holdings Ltd

Shareholders approve sale of Accredited

11 January 2024

R&Q Insurance Holdings Ltd (AIM: RQIH) ("R&Q" or "the Company") provides an update following the special general meeting held earlier today. Capitalised terms used, but not defined, in this announcement have the meanings given to them in the circular sent to R&Q's shareholders on 14 December 2023 (the "Circular").

The Board is pleased to announce that, at the Special General Meeting held earlier today, the resolution in relation to the proposed Sale of Accredited was duly passed. Accordingly, shareholder approval to the Sale has been obtained. The results of the voting on the ordinary resolution put to the Special General Meeting are set out below.

Notwithstanding shareholder approval, the Sale remains conditional on a number of other matters, as explained in the Circular. R&Q continues to work expediently towards satisfying all other remaining conditions to the Sale and remains hopeful that appropriate agreements can be reached with all of its lending banks, providers of credit and other finance providers (the "R&Q Finance Providers") to enable the Sale to take place. Further details on all these matters were set out in the Circular. Shareholders should note that there is no guarantee that all conditions to the Sale will be satisfied (or waived, if applicable) or that all necessary agreements will be reached with all of the R&Q Finance Providers. Closing of the Sale is expected to occur in late Q1 2024 or early Q2 2024.

Further announcements will be made, as appropriate, in due course.

Resolution

For

Against

Total votes cast

Total votes cast as % of Issued Share Capital

Votes Withheld

Number of Votes

% of votes cast

Number of Votes

% of votes cast

To approve the sale of Accredited

155,182,983

55.22%

125,838,348

44.78%

281,021,331

74.46%

1,009,618

-Ends-

This announcement contains inside information as stipulated under the UK market abuse regulation no 596/2014, which is part of English law by virtue of the European (withdrawal) act 2018, as amended. On publication of this announcement via a regulatory information service, this information is considered to be in the public domain.

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

FTI Consulting Tel: +44 (0)20 3727 1051

Tom Blackwell

Tel: 020 3727 1051




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