Smaller Related Party Transaction

RNS Number : 0184P

Virgin Money UK PLC

05 June 2020

 

VIRGIN MONEY UK PLC

(Company)

LEI:  213800ZK9VGCYYR6O495

05 June 2020

Smaller related party transaction

Virgin Money Unit Trust Managers Limited ("VMUTM") is a joint venture between Virgin Money UK PLC ("Virgin Money") and Aberdeen Asset Management PLC ("AAM"), a wholly owned subsidiary of Standard Life Aberdeen plc. VMUTM provides asset management services.

VMUTM is a related party of Virgin Money.

Virgin Money has committed to providing additional funding of up to £12.5m over the next 12 months to support the strategic and customer proposition development of VMUTM, with AAM, as VMUTM's other shareholder, also committed to providing additional funding of up to £12.5m over the same timeframe.

There is no immediate income statement or capital impact for Virgin Money in relation to this action.

The transaction falls within Listing Rule 11.1.10R (smaller related party transactions) and this announcement is made in accordance with Listing Rule 11.1.10R(c).

Announcement authorised for release by Lorna McMillan, Group Company Secretary.

For further information, please contact:

Investors and Analysts
Andrew Downey	07823 443 150
Head of Investor Relations	[e-mail]
Company Secretary
Lorna McMillan	07834 585436
Group Company Secretary	[e-mail]
Media Relations
Press Office	0800 066 5998
	[e-mail]

 

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