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Resources In Insurance Group

  • BY: Andrew Hore |
  • POSTED: 30/08/2013 |

Claims management services provider Resources In Insurance Group (RIIG) has raised additional working capital so that it can handle the additional business that it has won. 

Significant shareholder Bob Morton has lent a further 150,000 through Hawk Investments, which takes the total to 285,000. The latest loan is repayable in August 2014. A party related to executive chairman John French has lent a further 251,500. 

RIIG has secured a new contract with a major insurance brand and it will be signed in the near future. In the previous three months, RIIG had won additional business with a global bank worth 1.5m. 

At 0.16p a share, RIIG is valued at 624,000.

The financial year end has been changed to 31 March.

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