TIDMQLT
RNS Number : 5711M
Quilter PLC
24 May 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION
24 May 2022
Quilter plc
Redemption of B Shares, Cash Proceeds in respect of fractional
entitlements
Further to its announcement on 23 May 2022 in relation to the
proposed GBP328 million return of capital by Quilter plc ("Quilter"
or the "Company") by way of a B Share Scheme, the Company confirms
that the redemption of the B Shares issued pursuant to the B Share
Scheme will occur today.
It is expected that the holders of Ordinary Shares entitled to
receive payments in respect of the proceeds from the redemption of
the B Shares will have such payments despatched to them by 6 June
2022.
In accordance with the FCA's Disclosure Guidance and
Transparency Rule 5.6.1(A) and further to the announcement on 12
May 2022, the Company confirms that, post completion of the
previously announced B Share Scheme and Share Consolidation, the
Company's total issued share capital consists of 1,404,105,498
Ordinary Shares of 8 1/6 pence each, with each Ordinary Share
carrying the right to one vote.
As noted in the Circular published by the Company on 29 March
2022 (the "Circular") and in the Company's announcement of 23 May
2022, as part of the Share Consolidation all allocations of New
Ordinary Shares were rounded down to the nearest whole number and
fractional entitlements arising from the Share Consolidation will
be aggregated and sold in the market on behalf of Shareholders.
Given the proceeds from the sale of any fractional entitlement are
expected to be less than GBP3.00 per Shareholder (the rand
equivalent is 60.19995 rand, based on the exchange rate used for
determining the return per B Share redeemed), the Board intends to
donate the aggregated proceeds to the Quilter Foundation.
In accordance with the JSE Listing Requirements, if the proceeds
of the sale of fractional entitlements were remitted to
shareholders on the South African register this amount would be
determined with reference to the volume weighted average price in
rand of a New Ordinary Share on 23 May 2022 (being the first date
on which Quilter shares traded 'ex' the entitlement to receive the
New Ordinary Shares) reduced by 10% ("Cash Proceeds"). On this
basis, Quilter Shareholders are advised that the Cash Proceeds
would be 2148.30 ZA cents per New Ordinary Share (being 2387.00 ZA
cents x 0.9). However, as noted above, the aggregated proceeds of
the sale of fractional entitlements of shareholders on both the UK
and South African registers will be donated to the Quilter
Foundation.
Capitalised terms used in this announcement which are not
otherwise defined have the same meaning as in the Circular, which
is available on the Company's website at plc.quilter.com/gm.
Enquiries
Investor Relations:
John-Paul Crutchley +44 (0)77 4138 5251
Keilah Codd +44 (0)77 7664 9681
Media:
Tim Skelton-Smith +44 (0)78 2414 5076
Camarco
Geoffrey Pelham-Lane +44 (0)77 3312 4226
Company Secretary:
Patrick Gonsalves +44 (0)73 7597 8887
About Quilter plc
Quilter plc is a leading wealth management business in the UK
and internationally, helping to create prosperity for the
generations of today and tomorrow. Quilter plc oversees GBP107.2
billion in customer investments (as at 31 March 2022).
It has an adviser and customer offering spanning: financial
advice, investment platforms, multi-asset investment solutions, and
discretionary fund management.
The business is being reorganised into two segments: Affluent
and High Net Worth.
Affluent encompasses the financial planning businesses, Quilter
Financial Planning, the Quilter Investment Platform and Quilter
Investors, the Multi-asset investment solutions business.
High Net Worth includes the discretionary fund management
business, Quilter Cheviot, together with Quilter Private Client
Advisers.
Disclaimer
This announcement has been issued by and is the sole
responsibility of Quilter. The information contained in this
announcement is for background purposes only and does not purport
to be full or complete. The information in this announcement is
subject to change.
This announcement is not intended to, and does not, constitute
or form part of any offer, invitation or the solicitation of an
offer to purchase, otherwise acquire, subscribe for, sell or
otherwise dispose of, any securities pursuant to this announcement
or otherwise.
Shareholders are advised to read carefully the Circular in
relation to the B Share Scheme and Share Consolidation. Any
response to the proposals should be made only on the basis of
information in the Circular.
This announcement has been prepared in accordance with and for
the purpose of complying with English law, the EU Regulation No.
596/2014 as onshored into UK law on 31 December 2020 by the
European (Withdrawal) Act 2018 and the Listing Rules and Disclosure
Guidance and Transparency Rules of the Financial Conduct Authority.
The information disclosed may not be the same as that which would
have been disclosed if this announcement had been prepared in
accordance with the laws of jurisdictions outside of England and
Wales.
The release, publication or distribution of this announcement
in, into or from jurisdictions other than the United Kingdom may be
restricted by law and therefore any persons who are subject to the
law of any jurisdiction other than the United Kingdom should inform
themselves about, and observe, any such restrictions. Any failure
to comply with the restrictions may constitute a violation of the
securities law of any such jurisdiction.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDGLGDUBBDDGDS
(END) Dow Jones Newswires
May 24, 2022 05:12 ET (09:12 GMT)
Quilter (LSE:QLT)
Historical Stock Chart
From Jun 2024 to Jul 2024
Quilter (LSE:QLT)
Historical Stock Chart
From Jul 2023 to Jul 2024