Resources In Insurance Group PLC Notice of Results, Loan, and Trading Update (9328M)
30 Agosto 2013 - 6:51PM
UK Regulatory
TIDMRIIG
RNS Number : 9328M
Resources In Insurance Group PLC
30 August 2013
RESOURCES IN INSURANCE GROUP PLC
("RiIG", the "Group" or the "Company")
Final Results, Related Party Loan and Trading Update
Final Results
Further to the Company's trading update announcement of 25 June
2013, the Board of RiIG, a leading provider of claims management
and consultancy solutions to the UK insurance profession, announces
that its Audited Results for the 15 months to 31 March 2013 will be
released no later than 30 September 2013 rather than today as
previously announced.
Related Party Loan
To support the uplift in trading primarily through new business,
the Board has secured additional working capital via the provision
of loan capital of GBP150,000 from a significant shareholder, Bob
Morton via Hawk Investment Holdings Limited. The interest on the
loans is 1 per cent per month, payable monthly. The loan is
repayable in August 2014. As Hawk Investment Holdings Limited is
connected to Bob Morton, a substantial shareholder, the loan is
considered to be related party transactions pursuant to Rule 13 of
the AIM Rules for Companies. The Company's directors, having
consulted with the Company's nominated adviser, Zeus Capital,
consider that the terms of the loan are fair and reasonable insofar
as the Company's shareholders are concerned.
Following the provision of the loan above, John French, through
Spread Trustee Company Limited on behalf of The French Settlement,
and Bob Morton, through Hawk Investment Holdings Limited, have
provided loans totalling GBP251,500 and GBP285,000 respectively
demonstrating their commitment to the future of the Company.
Trading Update
The Company is pleased to announce that it has been advised that
it has secured, in competition with other parties, an important new
contract from a leading name in the insurance sector. Terms have
been agreed and we expect the contract to be signed in the near
future when details will be announced. This confirms that RiIG is
continuing to move forward on a positive platform based on
increasing business from existing and new clients. This win follows
the contract wins referred to in the RNS announcement of the 25
June 2013.
For further information:
Resources in Insurance Group plc
John French, Executive Chairman
www.riig.co.uk
Nominated Adviser/and Joint Broker +44 (0) 7836 722 482
Zeus Capital Limited
Ross Andrews / Andrew Jones +44 (0) 161 831 1512
Joint-Broker
Peterhouse Capital Finance Limited
Jon Levinson +44 (0) 20 7469 0935
Financial PR
Yellow Jersey PR Limited
Dominic Barretto / Harry Fielder +44 (0) 7768 537 739
This information is provided by RNS
The company news service from the London Stock Exchange
END
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