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Pension Ins 24 | LSE:37PB | London | Bond |
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TIDM37PB
RNS Number : 0038C
Pension Insurance Corporation PLC
16 June 2021
PENSION INSURANCE CORPORATION GROUP
MAJOR SHAREHOLDER CHANGES
London, 16 June 2021 - Pension Insurance Corporation Group Limited ("PICG" or the "Company"), ultimate parent company of Pension Insurance Corporation plc ("PIC"), the specialist insurer of defined benefit pension schemes, today confirms changes to its register of major shareholders, and consequent Board membership.
PICG's major investors:
Shareholder No of ordinary shares % of the issue ordinary held as at 16 June share capital as 2021 at 16 June 2021 Reinet PC Investments (Jersey) Limited on behalf of Reinet Investment S.C.A. 658,792,700 49.38 ---------------------- ------------------------ Luxinva S.A. on behalf of ADIA 242,192,115 18.15 ---------------------- ------------------------ Blue Grass Holdings Limited on behalf of CVC 231,825,290 17.38 ---------------------- ------------------------ MP 2019 K2 Aggregator on behalf of HPS 135,008,422 10.12 ---------------------- ------------------------
As a new shareholder with more than 10% of ordinary share capital, HPS have nominated a Director to the PICG Board. The Board of Directors of PICG now consists of 12 Directors, of whom six are independent, five are shareholder nominations, and one is executive management. The PICG Board should have a majority of independent NEDs ("INEDs") in line with the UK Corporate Governance Code. PICG is currently recruiting a further INED to restore this position. HPS have also nominated a Director to the PIC Board.
As at 16 June 2021, the total share capital of PICG is 1,334,205,407 ordinary shares.
- ends -
Notes to Editors:
For further information please contact:
Jeremy Apfel
Head of Corporate Affairs
+44 (0)20 7105 2140
apfel@pensioncorporation.com
About PIC
The purpose of PIC is to pay the pensions of its current and future policyholders. PIC provides secure and stable retirement incomes through leading customer service, comprehensive risk management and excellence in asset and liability management. At 31 December 2020, PIC had insured 273,500 pension scheme members and had GBP49.6 billion in financial investments, accumulated through the provision of tailored pension insurance buyouts and buy-ins to the trustees and sponsors of U.K. defined benefit pension schemes. Clients include FTSE 100 companies, multinationals and the public sector. PIC is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority (FRN 454345). For further information please visit www.pensioncorporation.com
No Offer or Invitation and Selling Restrictions
This announcement does not constitute or form part of, and should not be construed as, an offer or invitation to sell any securities, or the solicitation of an offer to subscribe for or purchase any securities, and nothing contained herein shall form the basis of or be relied on in connection with any contract, investment or commitment whatsoever.
This announcement is not intended for release, publication or distribution to a person located or resident in any jurisdiction where it is unlawful to release, distribute or publish this document. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an available exemption from registration.
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June 16, 2021 04:00 ET (08:00 GMT)
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