Quilter PLC Odd-lot Offer results & Transaction in own shares (2931O)

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RNS Number : 2931O

Quilter PLC

29 May 2020

FOR IMMEDIATE RELEASE

29 May 2020

Quilter plc

Results of 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 15 May 2020, the Company has today purchased a total of 16,263,364 of its own ordinary shares of 7 pence each as follows:

i) 169,264 ordinary shares held on the UK share register were purchased at a price of 120.24 pence (GBP) per share; and

ii) 16,094,100 ordinary shares held on the South African share register were purchased at a price of 2,812.63 cents (ZAR) per share.

The Odd-lot Offer was implemented on Wednesday 11 March 2020 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 has been reduced by circa 45% (209,282 shareholders). This reduction will reduce 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 24 April 2020, 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 24 April 2020; 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 24 April 2020.

Odd-lot Holders recorded on the UK Register will be paid in pounds sterling.

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

It is expected that payment will be made on or around Friday 29 May 2020, at the risk of the relevant Odd-lot Holder.

The shares purchased by the Company represent approximately 0.87% of the existing issued share capital of the Company and will all be held as treasury shares. Following the above purchase, the Company holds 16,263,364 ordinary shares as treasury shares. The total number of ordinary shares in issue (excluding shares held as treasury shares) is 1,848,115,891.

Enquiries:

 
 John-Paul Crutchley - Head of Investor Relations   Tel: [phone] 
 
  Jane Goodland - Corporate Affairs Director         Tel: [phone] 
                                                     Tel: + 44 (0)7391 867 081 
  Patrick Gonsalves - Company Secretary 
 

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]* (calling from the UK) 
             Tel: [phone] (calling from overseas) 
 
             *Lines are open Monday to Friday between 09:00 and 17:00 (UK time), excluding public holidays 
             in England and Wales. 
           ----------------------------------------------------------------------------------------------- 
 
 
 Shareholders on the South African Register 
 Link Market Services South Africa (PTY) Limited   Link Market Services South Africa (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 Securities (PTY) Limited   Transfer Securities (PTY) Limited, PO Box 2401, Windhoek, Namibia 
 
                                      Email: [e-mail] 
 
                                      Tel: [phone] 
                                    ------------------------------------------------------------------ 
 
 
 Shareholders in Malawi 
 National Bank of Malawi   National Bank of Malawi, PO Box 945, Blantyre, Malawi 
 
                            Email: [e-mail] 
 
                            Tel: [phone] 
                          ------------------------------------------------------ 
 
 
 Shareholders in Zimbabwe 
 Corpserve Registrars (PVT) Ltd   Corpserve Registrars (PVT) Ltd, PO Box 2208 Harare, Zimbabwe 
 
                                   Email: [e-mail] 
 
                                   Tel: [phone] 
                                 ------------------------------------------------------------- 
 

About Quilter plc

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

Quilter plc oversees GBP95.3 billion in customer investments (as at 31 March 2020).

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: Advice and Wealth Management and Wealth Platforms.

Advice and Wealth Management encompasses the financial planning businesses, Quilter Financial Planning, Quilter Private Client Advisers and Quilter Financial Advisers; the discretionary fund management business, Quilter Cheviot; and Quilter Investors, the Multi-asset investment solutions business. Wealth Platforms includes the Old Mutual Wealth UK Platform and Quilter International, including AAM Advisory in Singapore.

Since its IPO in June 2018, the Group's businesses have progressively re-branded to Quilter. The UK Platform will be the final business to rebrand; this will follow the safe delivery of the new platform technology. Descriptor for re-branded business units:

 
Previous                          New 
Intrinsic                         Quilter Financial Planning 
Old Mutual Wealth Private Client 
 Advisers                         Quilter Private Client Advisers 
Quilter Investors                 Quilter Investors 
Quilter Cheviot                   Quilter Cheviot 
UK Platform                       Quilter Investment Platform 
International                     Quilter International 
                                  ------------------------------- 
 

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 [e-mail] or visit www.rns.com.

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May 29, 2020 04:30 ET (08:30 GMT)