Confirmation of Offer Price for the Odd-lot Offer

RNS Number : 7223K

Quilter PLC

24 April 2020

 

FOR IMMEDIATE RELEASE

24 April 2020

Quilter plc

Confirmation of Offer Price for the Odd-lot Offer

Further to the announcement made on Wednesday 11 March 2020 regarding the Odd-lot Offer, Quilter plc ("Quilter" or the "Company") announces that the price per ordinary share to be paid to Odd-lot Holders whose ordinary shares are to be repurchased pursuant to the Odd-lot Offer (the "Offer Price") will be:

Type of shareholding	Offer Price
Ordinary shares held on the UK share register (the "UK Register")	120.24 pence (GBP)
Ordinary shares held on the South African share register (the "SA Register")	2,812.63 cents (ZAR)

The prices have been calculated as set out below:

(i)  in the case of ordinary shares held on the UK Register, a 5% premium to the volume weighted average price of ordinary shares traded on the London Stock Exchange over the five trading days prior to Friday 24 April 2020 ; and

(ii)  in the case of ordinary shares held on the SA Register, a 5% premium to the volume weighted average price of ordinary shares traded on the Johannesburg Stock Exchange over the five trading days prior to Friday 24 April 2020.

Odd-lot Holders recorded on the UK Register will be paid in pounds sterling. 

Odd-lot Holders on the SA Register will be paid in rand by direct credit. No cheques will be issued. Shareholders who participate in an Odd-lot Offer and who hold their ordinary shares in Strate through a CSDP or broker will receive payment in accordance with the mandate signed between the CSDP or broker.

To receive payment for their ordinary shares pursuant to the Odd-lot Offer, Odd-lot Holders must remain recorded on the UK or SA Registers until Friday 15 May 2020, the Second Record Date. For administrative reasons, ordinary shares which are transferred between the UK and SA Registers or, in the case of dematerialised shareholders, which have been transferred between CSDPs, are not eligible to participate in the Odd-lot Offer.

It is expected that payment will be made on or around Friday 29 May 2020, at the risk of the relevant Odd-lot Holder.

Further information, including details of the background to and reasons for the Odd-lot Offer and the full timetable, can be found on our website at quilter.com/OLO.

The Directors of the Company, in their absolute discretion, reserve the right to withdraw the proposed Odd-lot Offer at any time.

The Directors, in their absolute discretion, reserve the right to exclude any Odd-lot Holder and/or withdraw any proposed Odd-lot Offer from any shareholder at any time.

Shareholders should take into account the tax implications for them of participating in the Odd-lot Offer. In order to assist shareholders, a general description of the South African and UK tax treatment of participating in the Odd-lot Offer for certain classes of shareholder will be made available on the Company's website quilter.com/OLO. Shareholders who are in any doubt as to their own tax position should consult their own professional adviser.

Enquiries:

Quilter

John-Paul Crutchley - Head of Investor Relations	Tel: [phone]
Jane Goodland - Corporate Affairs Director	Tel: [phone]
Patrick Gonsalves - Company Secretary	Tel: [phone]

Registrars

If you are a Quilter shareholder and have a question about the Odd-lot Offer or your Quilter shares, please contact our Registrars using the contact details below.

Shareholders on the UK Register
Equiniti	Equiniti Limited, Aspect House, Spencer Road, Lancing, West Sussex BN99 6DA https://help.shareview.co.uk Tel: [phone]* (calling from the UK) Tel: [phone] (calling from overseas) *Lines are open Monday to Friday between 09:00 and 17:00 (UK time), excluding public holidays in England and Wales.

Shareholders on the South African Register
Link Market Services South Africa (PTY) Limited	Link Market Services South Africa (PTY) Limited, PO Box 10462, Johannesburg, 2000, South Africa Email: [e-mail] Tel: [phone] 154 6566 (calling from South Africa) Tel: [phone] (calling from overseas)

Shareholders in Namibia
Transfer Securities (PTY) Limited	Transfer Securities (PTY) Limited, PO Box 2401, Windhoek, Namibia Email: [e-mail] Tel: [phone]

Shareholders in Malawi
National Bank of Malawi	National Bank of Malawi, PO Box 945, Blantyre, Malawi Email: [e-mail] Tel: [phone]

Shareholders in Zimbabwe
Corpserve Registrars (PVT) Ltd	Corpserve Registrars (PVT) Ltd, PO Box 2208 Harare, Zimbabwe Email: [e-mail] Tel: [phone]

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 £95.3 billion in customer investments (as at 31 March 2020).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-asset investment solutions; and discretionary fund management.

The business is comprised of two segments: Advice and Wealth Management and Wealth Platforms.

Advice and Wealth Management encompasses the financial planning businesses, Quilter Financial Planning, Quilter Private Client Advisers and Quilter Financial Advisers; the discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business. Wealth Platforms includes the Old Mutual Wealth UK Platform and Quilter International, including AAM Advisory in Singapore.

Since its IPO in June 2018, the Group's businesses have progressively re-branded to Quilter. The UK Platform will be the final business to rebrand; this will follow the safe delivery of the new platform technology. Descriptor for re-branded business units:

Previous	New
Intrinsic	Quilter Financial Planning
Old Mutual Wealth Private Client Advisers	Quilter Private Client Advisers
Quilter Investors	Quilter Investors
Quilter Cheviot	Quilter Cheviot
UK Platform	Quilter Wealth Solutions
International	Quilter International

 

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