Acquisition

RNS Number : 4296I

Schroders PLC

02 July 2013

 



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 or regulations of such jurisdiction

2 July 2013

Recommended acquisition of Cazenove Capital Holdings Limited by Schroders plc

Scheme of Arrangement becomes effective

The Boards of Schroders plc ('Schroders') and Cazenove Capital Holdings Limited ('Cazenove Capital') are pleased to announce that the Scheme of Arrangement under Article 125 of the Companies (Jersey) Law 1991 to implement the acquisition of Cazenove Capital by Schroders has become effective in accordance with its terms.

Elections for the Loan Note Alternative have been made in respect of Loan Notes with an aggregate value of £216,985,237. The Loan Notes will be issued by Schroders in accordance with the terms of the Scheme.

Settlement of cash consideration and the issue of Loan Notes pursuant to the Loan Note Alternative is expected to be effected by Schroders by 5 July 2013.  Certificates in respect of Loan Notes are expected to be posted to holders of Loan Notes by no later than 12 July 2013.

Unless the context otherwise requires, terms defined in the announcement of the acquisition on

25 March 2013 have the same meaning in this announcement.

Enquiries:

Schroders                                                            Telephone:                    [phone]

Emma Holden, Head of Corporate Communications

Gleacher Shacklock                                          Telephone:                    [phone]

Financial Advisor to Schroders

Richard Slimmon

Edmund Dilger

Brunswick Group LLP                                       Telephone:                    [phone]

PR Advisor to Schroders

Anita Scott

Eilis Murphy

Gleacher Shacklock, which is authorised and regulated in the United Kingdom by the FCA, is acting exclusively for Schroders and no one else in connection with the Acquisition and will not be responsible to anyone other than Schroders for providing the protections afforded to clients of Gleacher Shacklock nor for giving advice in relation to the Acquisition, the contents of this announcement or any matter or arrangement referred to in this announcement.  Neither Gleacher Shacklock nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Gleacher Shacklock in connection with this announcement, any statement contained herein or otherwise.

Overseas shareholders

The release, publication or distribution of this announcement in certain jurisdictions may be restricted by law. Persons who are not resident in the United Kingdom or Jersey or who are subject to other jurisdictions should inform themselves of, and observe, any applicable requirements. This announcement does not constitute an offer or an invitation to purchase or subscribe for any securities or a solicitation of an offer to buy any securities pursuant to the announcement or otherwise in any jurisdiction in which such offer or solicitation is unlawful.

 

END

 

 

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