Odd-lot Offer results & Transaction in own shares

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   Jane Goodland - Corporate Affairs Director   Patrick Gonsalves - Company Secretary

Tel: +44 (0)7741 385 251   Tel: +44 (0)7790 012 066 Tel: + 44 (0)7391 867 081

 

 

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: +44 (0)333 207 6514* (calling from the UK) Tel: +44 (0)121 415 0993 (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: [email protected]   Tel: 086 140 0110/086 154 6566 (calling from South Africa) Tel: +27 11 029 0251/+27 11 715 3000 (calling from overseas)

 

Shareholders in Namibia
Transfer Securities (PTY) Limited	Transfer Securities (PTY) Limited, PO Box 2401, Windhoek, Namibia   Email: [email protected]   Tel: +264 (0) 227 647

 

Shareholders in Malawi
National Bank of Malawi	National Bank of Malawi, PO Box 945, Blantyre, Malawi   Email: [email protected]   Tel: +265 182 0622/+265 182 0054

 

Shareholders in Zimbabwe
Corpserve Registrars (PVT) Ltd	Corpserve Registrars (PVT) Ltd, PO Box 2208 Harare, Zimbabwe   Email: [email protected]   Tel: +263 242 751 559/+263 242 751 561

 

 

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 £95.3 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