Completion of the sale of WGSN

Ascential PLC

01 February 2024

 

1 February 2024

ASCENTIAL PLC

COMPLETION OF THE SALE OF WGSN

Ascential plc ("Ascential") is pleased to announce the completion of the sale of its product design business, WGSN, to Wind UK Bidco 3 Limited (a newly formed company established by funds advised by Apax Partners).

As announced on 30 October 2023, the Board intends to return to shareholders approximately £850m generated from the sales of the Digital Commerce and WGSN businesses.  Following the completion of the sales and conclusion of its recent period of consultation with current shareholders, the Board will now determine the appropriate form of return of value. Options under consideration include a special dividend, a buyback (in line with existing AGM authorities) and a tender process or a combination thereof.  An update will be provided in the coming weeks.

Philip Thomas, Chief Executive of Ascential said:

"We are delighted that our colleagues and friends at WGSN can now take an important step under new ownership and embark on the next chapter of their growth. The sale of WGSN completes the execution of the Strategic Review announced in 2023 and highlights our ongoing commitment to deliver value for shareholders. Ascential is now a focussed events-led business, with two of the world's leading event brands supporting our customers to lead their industries and achieve growth. We are more excited than ever about our prospects and confident in our credentials as a high quality, independent UK-listed business."

About Ascential plc:

Ascential takes the world's leading brands to the heart of what's next for their industries. We do this through our events, intelligence products and advisory services. Our 700 people serve a global customer base from more than 100 countries in the large and growing Marketing and Financial Technology sectors. Ascential is listed on the London Stock Exchange (LON: ASCL). ascential.com

Enquiries:

Ascential plc
Philip Thomas, Chief Executive Officer	[phone]
Mandy Gradden, Chief Financial Officer
Rory Elliott, Investor Relations Director
FTI Consulting LLP, Media enquiries
Matt Dixon	[phone]
Jamie Ricketts
Edward Bridges

IMPORTANT NOTICES

The person responsible for arranging the release of this announcement on behalf of Ascential is Naomi Howden, Company Secretary.

This announcement contains "forward-looking statements" which includes all statements other than statements of historical fact, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations, or any statements preceded by, followed by or that include the words "targets", "believes", "expects", "aims", "intends", "will", "may", "anticipates", "would, "could" or similar expressions or negatives thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. These forward-looking statements speak only as at the date of this announcement.

Neither the Company nor its affiliates undertakes or is under any duty to update this announcement or to correct any inaccuracies in any such information which may become apparent or to provide you with any additional information, other than any requirements that the Company may have under applicable law or the Listing Rules, the Prospectus Regulation Rules, the Disclosure Guidance and Transparency Rules or the Market Abuse Regulation MAR (EU No. 596/2014) as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018). To the fullest extent permissible by law, such persons disclaim all and any responsibility or liability, whether arising in tort, contract or otherwise, which they might otherwise have in respect of this announcement. The information in this announcement is subject to change without notice.

 

END