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PHNX Phoenix Group Holdings Plc

487.80
6.00 (1.25%)
Last Updated: 08:53:27
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Phoenix Group Holdings Plc LSE:PHNX London Ordinary Share GB00BGXQNP29 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  6.00 1.25% 487.80 487.60 488.00 488.60 485.00 485.20 280,248 08:53:27
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Life Insurance 22.81B -116M -0.1159 -41.57 4.82B

Phoenix Group Holdings PLC Discussions in Respect of Sale Discontinued (9653B)

15/06/2021 12:00pm

UK Regulatory


Phoenix (LSE:PHNX)
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TIDMPHNX

RNS Number : 9653B

Phoenix Group Holdings PLC

15 June 2021

THIS ANNOUNCEMENT CONSTITUTES INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.

LEI: 2138001P49OLAEU33T68

discussions in respect of a potential sale have been discontinued

Following its recent announcement dated 18 May 2021, the Board of Phoenix Group Holdings plc ("Phoenix" or "the Group") announces that discussions regarding the potential sale of its European businesses ("Phoenix Europe") have been discontinued.

The Group received unsolicited expressions of interest for Phoenix Europe and has recently been in advanced discussions with a third party about a potential sale. However, the Board has concluded that the transaction under consideration would not maximise shareholder value and therefore discussions have been discontinued.

Phoenix Europe continues to offer the Group strategic optionality. Phoenix will now progress a range of management actions to maximise shareholder value whilst ensuring we continue to support our customers and colleagues.

The person responsible for arranging for the release of this announcement on behalf of Phoenix is Gerald Watson, Group Company Secretary.

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Enquiries

Investors/analysts:

Claire Hawkins, Director of Corporate Affairs and Investor Relations, Phoenix Group

+44 (0)20 3735 0575

Andrew Downey, Head of Investor Relations, Phoenix Group

+44 (0)20 3735 0160

Media:

Douglas Campbell, Teneo

+44 (0)775 313 6628

Haya Herbert Burns, Teneo

+44 (0)734 203 1051

Shell ie Wells , Head of Corporate Communications, Phoenix Group

+44 (0)20 373 5 0922

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Legal Disclaimers

This announcement in relation to Phoenix and its subsidiaries (the "Group") contains forward-looking statements about the Group's current plans, goals and expectations relating to future financial events, conditions, performance, results, strategy and/or objectives. Statements containing the words: 'believes', 'intends', 'will', 'expects', 'may', 'should', 'plans', 'aims', 'seeks', 'continues', 'targets' and 'anticipates' or other words of similar meaning are forward-looking. Such forward-looking statements involve risk and uncertainty because they relate to future events and circumstances that are beyond the Group's control. As a result, such future events and the Group's actual future financial condition, performance and results may differ materially from the plans, goals and expectations set out in the forward-looking statements in this announcement. The Group undertakes no obligation to update any of the forward-looking statements contained within this announcement.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCDKPBQKBKDOAD

(END) Dow Jones Newswires

June 15, 2021 07:00 ET (11:00 GMT)

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