Results of the Odd-lot Offer

Quilter PLC

16 November 2023

 

16 November 2023

Quilter plc

Results of the Odd-lot Offer and transaction in own shares

Quilter plc ("Quilter" or the "Company") announces that following the closure of the Odd-lot Offer on Friday 10 November 2023, the Company intends to purchase a total of 15,798,423 of its own ordinary shares of 8 1/6 pence each (the "Odd-lot Shares") into Treasury on Monday 27 November 2023 (the "Implementation Date").  This is constituted of:

i)    291,711 ordinary shares held on the UK share register at a price of 88.10 pence (GBP) per share; and

ii)   15,506,712 ordinary shares held on the South African share register at a price of 2,008.91 cents (ZAR) per share.

The Odd-lot Offer was implemented on Monday 18 September 2023 in order to reduce the Company's shareholder base, which was unusually large for a company of its size. Following the implementation of the Odd-lot Offer, the Company's shareholder base will reduce by circa 60% (126,011 shareholders). This will lower administrative costs, including, for example, the costs of printing and distributing financial statements, circulars and notices.

As set out in the announcement made on Friday 20 October 2023, the above prices were calculated as follows:

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 20 October 2023; 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 20 October 2023.

Odd-lot Holders recorded on the UK Register will be paid in pounds sterling by direct credit. If we do not hold a shareholder's bank or building society details, a cheque in pounds sterling will be issued.

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 on Strate through a CSDP or broker will receive payment in accordance with the mandate signed between the CSDP or broker.

Payment will be made at the risk of the relevant Odd-lot Holder on the Implementation Date.

The Odd-lot Shares represent approximately 1.13% of the existing issued share capital of the Company and will be purchased into Treasury. Subsequently, and on the Implementation Date, the Company intends to transfer the Odd-lot Shares out of Treasury for nil consideration to the Trustee of the Quilter Employee Benefit Trust.  As a result, the Company will hold no ordinary shares in Treasury and the total number of ordinary shares in issue will be 1,404,105,498. These transfers will be confirmed by a separate announcement on the Implementation Date.

Enquiries:

Quilter

John-Paul Crutchley - Head of Investor Relations	Tel: [phone]
Clare Barrett - 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]* Please use the country code when contacting Equiniti from outside the UK *Lines are open Monday to Friday between 08:30 and 17:30 (UK time), excluding public holidays in England and Wales

Shareholders on the South African Register
JSE Investor Services (Pty) Limited	JSE Investor Services (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 Secretaries (Pty) Limited	Transfer Secretaries (Pty) Limited, PO Box 2401, Windhoek, Namibia Email: [e-mail] Tel: [phone]

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

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

About Quilter plc:

Quilter plc is a leading UK-centric wealth management business, helping to create prosperity for the generations of today and tomorrow.

Quilter oversees £101.4 billion in customer investments (as at 30 September 2023).

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: 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.

 

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