Premier Miton Group PLC Scheme of Arrangement becomes Effective (4993T)

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RNS Number : 4993T

Premier Miton Group PLC

15 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.

15 November 2019

Premier Miton Group plc

("Premier Miton" or the "Company")

(formerly Premier Asset Management Group PLC)

Recommended All-Share Merger of the Company and Miton Group plc ("Miton")

Scheme of Arrangement becomes Effective

Change of Company name becomes Effective

Admission to trading of New Ordinary Shares

Scheme of arrangement becomes Effective

Further to the announcement by the Company and Miton on 4 September 2019 relating to the recommended all-share merger of the Company and Miton (the "Merger"), to be implemented by way of court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006 (the "Scheme"), Premier Miton is pleased to announce that the Scheme has become Effective in accordance with its terms, following the sanction of the Scheme by the Court on 13 November 2019 and the delivery of the court order to the Registrar of Companies on 14 November 2019.

Change of Company name becomes effective

The Company was renamed Premier Miton Group plc yesterday following the Scheme becoming Effective.

Admission to trading of New Ordinary Shares

Under the terms of the Merger, holders of ordinary shares of GBP0.001 each in the capital of Miton ("Miton Shares") on the register at the Scheme Record Time, being 6:00 p.m. on 13 November 2019, have received 0.30186 of an ordinary share of GBP0.0002 each in the capital of Premier Miton ("New Shares") in exchange for each Miton Share. As a result, 52,111,725 New Shares will be admitted to trading on the London Stock Exchange's AIM market by 8:00 a.m. today.

Following the admission to trading of the New Shares, the Company's issued share capital will consist of 157,913,035 ordinary shares with each share carrying the right to one vote. The Company holds no ordinary shares in treasury. The total number of voting rights in the Company will therefore be 157,913,035. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company under the FCA's Disclosure Guidance and Transparency Rules.

The Premier Miton ticker will be changed from PAM to PMI with effect by 8:00 a.m. today. The Company website has been changed to corporate.premiermiton.com

Mike O'Shea, Chief Executive of Premier Miton, commented:

"The creation of Premier Miton Investors creates a new, broader, stronger and exciting UK asset management business. Our merger is based on a strong belief in the value that active management can deliver for clients and the conviction that, by bringing together the complementary investment skill-sets, client service platforms and financial strength of Premier and Miton, we will continue to create significant benefits for our existing and future clients.

"Combining our investment talent - including our distinctive specialisms in outcome based multi-asset solutions and high conviction active single strategy funds - results in a greater range of relevant funds for clients, across different asset classes and geographies, covering a diverse range of investment styles."

Terms not otherwise defined in this announcement shall have the meaning given to them in the scheme document published in connection with the Merger on 17 September 2019.

Enquiries:

 
  Premier Miton Group PLC                 Tel: 01483 306090 
                                           Mike O'Shea 
  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 Miton

Premier Miton Investors is focused on delivering good investment outcomes for investors through relevant products and active management across its range of investment strategies, which include multi-asset, equity, absolute return fund and fixed income. The Combined Group had pro-forma unaudited assets under management of GBP11.1 billion as at 31 October 2019.

LEI Number: 213800LK2M4CLJ4H2V85

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.

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November 15, 2019 02:00 ET (07:00 GMT)

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