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.
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