Acquisition

RNS Number : 9927Q

Man Group plc

05 September 2014

 



For Immediate Release

5 September 2014

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION

MAN GROUP PLC

COMPLETION OF THE ACQUISITION OF NUMERIC HOLDINGS LLC

Following the successful shareholder vote this morning, Man Group plc ("Man") is pleased to announce that the acquisition of Numeric Holdings LLC ("Numeric") by Man completed today.

Commenting on the acquisition, Manny Roman, Chief Executive Officer of Man, said:

"We are delighted to announce the completion of the acquisition of Numeric, which has an impressive track record of performance, a strong US footprint and a talented management team. Numeric is very well positioned to benefit significantly from our scale and resources and I'm excited by the opportunities this acquisition brings for our investors and shareholders."

Enquiries

Man    

Fiona Smart

Head of Investor Relations

[phone]

[e-mail]

Rosanna Konarzewski

Global Head of Communications

[phone]

[e-mail]

Credit Suisse (Financial adviser, sponsor and corporate broker to Man)

Sebastian Grigg

Charles Donald

Hamish Summerfield

[phone]

PL Advisors (Financial adviser to Man)

Domonkos Koltai

[phone]

RLM Finsbury (PR adviser to Man)

James Bradley / Ryan O'Keeffe

[phone]

[e-mail]

Prosek Partners (PR adviser to Man - US)

Brian Schaffer / Caroline Harris-Gibson

[phone]

[e-mail] / [e-mail]

About Man

Man is a leading alternative investment management business with a diverse offering in hedge funds and long-only products across equity, credit, managed futures, convertibles, emerging markets, global macro and multi-manager solutions. At 30 June 2014, Man managed $57.7 billion. The original business was founded in 1783. Today, Man is listed on the London Stock Exchange and is a member of the FTSE 250 Index with a market capitalisation of around £2.2 billion.  Man also supports many awards, charities and initiatives around the world, including sponsoring the Man Booker literary prizes. Further information can be found at www.man.com.

Forward-looking statements and other important information

This announcement contains forward-looking statements, including in respect of the financial condition, results and business of Man and Numeric. By their nature, forward-looking statements involve a number of risks, uncertainties or assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties or assumptions could adversely affect the outcome and financial effects of the plans, events and estimates described herein. Man's actual future results may differ materially from the results expressed or implied in these forward-looking statements. Forward-looking statements contained in this announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Undue reliance should not be placed on forward-looking statements, which speak only as of the date of this announcement and, by their nature, are subject to known and unknown risks and uncertainties and can be affected by other factors that could cause actual results, and Man's plans, objectives and estimates, to differ materially from those expressed or implied in the forward-looking statements. Except as required by law or regulation, Man is not under any obligation to update or keep current the forward-looking statements contained in this announcement or to correct any inaccuracies which may become apparent in such forward-looking statements.

No statement in this announcement is intended as a profit forecast or profit estimate and no statement in this announcement should be interpreted to mean that the earnings per share  of Man or Numeric for the current or future financial periods will necessarily match or exceed the historical or published earnings per share of Man or Numeric.

The content of the websites referred to in this announcement is not incorporated into and does not form part of this announcement. Nothing in this announcement should be construed as or is intended to be a solicitation for or an offer of securities or to provide investment advisory services.

Credit Suisse, which is authorised by the Prudential Regulation Authority and regulated by the Prudential Regulation Authority and the Financial Conduct Authority in the United Kingdom, is acting exclusively as sole sponsor and financial adviser to Man and for no one else in connection with the content of this announcement and the acquisition and will not be responsible to any person other than Man for providing the protections afforded to clients of Credit Suisse, nor for providing advice in relation to the acquisition, the content of this announcement or any matters referred to in this announcement.

 

END

 

 

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