R&Q Insurance Holdings Ltd PDMR/Director Shareholding and Total Voting Rights (5452J)
16 August 2023 - 4:37PM
UK Regulatory
TIDMRQIH
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 Total Restricted Total Ordinary Total Ordinary Total R&Q % of voting
Director Ordinary Shares Sold Shares Retained Ordinary rights
Shares Vested Shares now
held
Thomas Solomon 1,210,707 541,612 669,095 1,223,957 0.33%
PDMR Dealing
Name of Total Restricted Total Ordinary Total Ordinary Total R&Q % of voting
Director Ordinary Shares Sold Shares Retained Ordinary rights
Shares Vested Shares now
held
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 Tel: 020 7260 1000
Barclays Bank PLC (Joint Broker)
Andrew Tusa Tel: 020 7632 2322
Richard Bassingthwaighte
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
Details of the person discharging managerial responsibility
1 / person closely associated
a) Name Thomas Solomon
--------------------------------- -----------------------------
Reason for the notification
2
----------------------------------------------------------------
a) Position/status PDMR (Executive Director)
--------------------------------- -----------------------------
b) Initial notification/amendment Initial notification
--------------------------------- -----------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------
a) Name R&Q Insurance Holdings Ltd
--------------------------------- -----------------------------
b) LEI 2138006K1U38QCGLFC94
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
Description of Ordinary shares of 2 pence each of the Company
the financial
instrument, type
of instrument
Identification Ordinary share ISIN: BMG7371X1065
a) code
-------------------------- ---------------------------------------------------------------------
1. Vesting of 1,210,707 Ordinary Shares
b) Nature of transaction 2.Sale of 541,612 Ordinary Shares
-------------------------- ---------------------------------------------------------------------
Price(s) Volume(s)
------------------------- ---------------------------------------
1. Par value Par value of 2p: GBP24,214.14
of 2p at Grant
------------------------- ---------------------------------------
2 GBP0.53 Sale of 541,612 shares for a
c) Price(s) and volume(s) total consideration of GBP287,054.22
-------------------------- ------------------------- ---------------------------------------
Aggregated information
-------------------------------------------------------------------------------------------------
As above
Aggregated volume
-------------------------- ---------------------------------------------------------------------
d) Price As above
-------------------------- ---------------------------------------------------------------------
e) Date of transaction 14 August 2023
-------------------------- ---------------------------------------------------------------------
f) Place of transaction Outside of trading location
-------------------------- ---------------------------------------------------------------------
Details of the person discharging managerial responsibility
1 / person closely associated
a) Name Patrick Rastiello
--------------------------------- -----------------------------
Reason for the notification
2
----------------------------------------------------------------
a) Position/status PDMR (Senior Executive)
--------------------------------- -----------------------------
b) Initial notification/amendment Initial notification
--------------------------------- -----------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------
a) Name R&Q Insurance Holdings Ltd
--------------------------------- -----------------------------
b) LEI 2138006K1U38QCGLFC94
Details of the transaction(s): section to be repeated for
4 (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
Description of Ordinary shares of 2 pence each of the Company
the financial
instrument, type
of instrument
Identification Ordinary share ISIN: BMG7371X1065
a) code
-------------------------- --------------------------------------------------------------
1. Vesting of 509,672 Ordinary Shares
b) Nature of transaction 2.Sale of 208,714 Ordinary Shares
-------------------------- --------------------------------------------------------------
Price(s) Volume(s)
------------------ ---------------------------------------
1. Par value Par value of 2p: GBP10,034.76
of 2p at Grant
------------------ ---------------------------------------
2 GBP0.53 Sale of 208,714 shares for a
c) Price(s) and volume(s) total consideration of GBP110,618.53
-------------------------- ------------------ ---------------------------------------
Aggregated information
------------------------------------------------------------------------------------------
As above
Aggregated volume
-------------------------- --------------------------------------------------------------
d) Price As above
-------------------------- --------------------------------------------------------------
e) Date of transaction 14 August 2023
-------------------------- --------------------------------------------------------------
f) Place of transaction Outside of trading location
-------------------------- --------------------------------------------------------------
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END
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