Further to the announcement on 24 June 2024 explaining that on 21 June 2024 R&Q Insurance Holdings Ltd (AIM: RQIH) ("R&Q" or "the Company") had filed in the Supreme Court of Bermuda an application to appoint joint provisional liquidators ("JPLs") to oversee the liquidation and ultimately the winding up of the Company, a hearing of an application took place at 11 am (Atlantic Daylight Time) yesterday at which Michael Morrison, Mark Allitt and Charles Thresh of Teneo (Bermuda) Limited were appointed as JPLs of R&Q.
Consequently, Deutsche Numis informed the Company of its intention to resign as Nominated Adviser and Broker to the Company with immediate effect. The Company's shares remain suspended from trading and pursuant to AIM Rule 1, if a replacement Nominated Adviser is not appointed within one month, the admission of the Company's shares to trading on AIM will be cancelled. The Company has no intention of appointing a replacement Nominated Adviser.
Shortly following the appointment of the JPLs, Jeffrey Hayman, William Spiegel, Tom Solomon, Philip Barnes, Eamonn Flanagan, Jo Fox, Lawrence Hirsh, Jerome Lande and Robert Legett tendered their resignations as directors of the Company.
As a consequence of the provisional liquidation, it's anticipated that there will be very little, if any, chance of any value accruing to the Company's shareholders.
Any enquiries regarding the provisional liquidation of R&Q should be submitted to: rqih-info@teneo.com.
