Premier Asset Management Group PLC Court Sanction of Scheme of Arrangement (4488T)
14 Novembre 2019 - 12:32PM
UK Regulatory
TIDMPAM TIDMMGR
RNS Number : 4488T
Premier Asset Management Group PLC
14 November 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN OR INTO ANY RESTRICTED JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH
JURISDICTION.
14 November 2019
Premier Asset Management Group PLC
("Premier" or the "Company")
Court Sanction of Scheme of Arrangement
Scheme becomes Effective
Further to Miton Group plc's announcement yesterday that the
Court has sanctioned the scheme of arrangement under Part 26 of the
Companies Act 2006 (the "Scheme") by which the recommended
all-share merger of Premier and Miton is being implemented, Premier
is pleased to announce that all conditions to the Scheme have now
been satisfied or waived and the Scheme has now become Effective in
accordance with its terms as set out in the scheme document
published by Miton on 17 September 2019 (the "Scheme
Document").
Board changes
As set out in the Scheme Document and with effect from the date
of this announcement, Luke Wiseman and Neil Macpherson have
resigned from the board of directors of Premier, and Katrina Hart
and Piers Harrison have been appointed to the board of directors of
Premier. A further announcement regarding these directorship
appointments will be made today. It is also expected that David
Barron will be appointed to the board of directors of Premier at
the beginning of December 2019.
Delisting and cancellation of trading of Miton Shares
Dealings in Miton Shares on AIM have each been suspended with
effect from 7.30 am today, 14 November 2019. It is expected that
the admission to trading of Miton Shares on AIM will be cancelled
with effect from 7.00 am tomorrow, 15 November 2019.
Consideration due to Miton Shareholders
Miton Shareholders on the register at the Scheme Record Time
(being 6.00 pm yesterday, 13 November 2019) will receive 0.30186 of
a New Share in exchange for each Miton Share.
As further described in the Scheme Document, New Shares in
uncertificated form are expected to be credited to CREST accounts
on or soon after 8.00 am on 15 November 2019 (but no later than 28
November 2019) and definitive share certificates for the New Shares
in certificated form are expected to be dispatched by no later than
28 November 2019.
Admission of New Shares
An application has been made for the admission to trading on AIM
of 52,111,725 New Shares ("Admission"). Admission is expected to
take place by 8.00 am on 15 November 2019. The New Shares will rank
pari passu in all respects with Premier's existing shares in issue.
Following Admission, the Company's enlarged issued share capital
will comprise 157,913,035 ordinary shares with one voting right per
share. The total number of voting rights in the Company is
therefore 157,913,035. This figure of 157,913,035 ordinary shares
may be used by shareholders in the Company as the denominator for
the calculations by which they will determine if they are required
to notify their interest in, or a change to their interest in, the
share capital of the Company under the FCA's Disclosure and
Transparency Rules.
General
Unless otherwise defined, all capitalised terms in this
announcement shall have the meaning given to them in the Scheme
Document.
Enquiries:
Premier Asset Management Group Tel: 01483 306090
PLC Neil Macpherson
Fenchurch Tel: 020 7382 222
(Lead Financial Adviser to Premier) Vincent Bounie
Philip Evans
Numis Securities Limited Tel: 020 7260 1000
(Financial Adviser, Nominated Kevin Cruickshank
Adviser and Joint Corporate Charles Farquhar
Broker)
Smithfield Consultants Tel: 020 3047 2544
(Financial PR) John Kiely
Andrew Wilde
Note to editors
About Premier
Premier is a UK retail asset management group with a focus on
delivering good investment outcomes for investors through relevant
products and active management across its range of investment
strategies, which include multi-asset, equity and absolute return
funds. Premier had GBP6.6 billion of assets under management as at
30 September 2019.
LEI Number: 213800LK2M4CLJ4H2V85
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END
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