Formation of RiiG Limited
London, UK. December 20, 2013 – following a recent announcement of impending changes within the Resources in Insurance Group plc, Chairman John French and CEO Gordon Vater today announced that they have led a management buyout of the commercial and trading business of Resources in Insurance Group plc, supported by Funds advised by Thames Valley Capital Ltd.
Gordon Vater will continue to lead the business as CEO, and will be participating in equity in the new operation. In early December all operations were transferred to a new company, RiiG Limited, which will continue all trading activities. The board will remain: John French as Chairman; Gordon Vater as CEO, and Stephen Coke as Finance Director and Company Secretary, and is supported by a representative of Thames Valley Capital Limited.
Gordon Vater, CEO, RiiG Limited commented “In all respects, the formation of RiiG Limited represents business as usual for clients and staff with the advantage of a simplified and more flexible operation going forward without the limitations imposed by a plc structure. The Directors and I are very excited about the future growth prospects of the business and look forward to strengthening current relationships and building new opportunities.”