Liontrust Asset Management PLC Update on Proposed Acquisition of GAM Holding AG (5697I)
08 Agosto 2023 - 1:00AM
UK Regulatory
TIDMLIO
RNS Number : 5697I
Liontrust Asset Management PLC
08 August 2023
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LEI: 549300XVXU6S7PLCL855
For immediate release
8 August 2023
Stock Exchange Announcement
LIONTRUST ASSET MANAGEMENT PLC
Update on Proposed Acquisition of GAM Holding AG
Liontrust Asset Management Plc ("Liontrust", or the "Company"),
the specialist independent fund management group, today issues an
update in relation to its recommended public exchange offer for all
publicly held registered shares of GAM Holding AG ("GAM") which was
announced on 4 May 2023 (the "Proposed Acquisition").
Liontrust today announces that it has received change in control
approval from the UK's Financial Conduct Authority ("FCA") in
relation to the Proposed Acquisition and becoming controllers of
GAM's UK regulated entities:
1. GAM Sterling Management Limited;
2. GAM International Management Limited;
3. GAM Unit Trust Management Company Limited;
4. GAM London Limited; and
5. GAM Systematic LLP.
The approval from the FCA is a major step forward in satisfying
the regulatory approval condition of Liontrust's offer for GAM and
joins earlier notifications in relation to the Proposed Acquisition
of:
1. No objection from Switzerland's FINMA of the planned changes
to the qualified participants of GAM Investment Management
(Switzerland) AG, Zurich; and
2. Approval from the Central Bank of Ireland of the proposed
change of ownership of GAM Fund Management Limited.
Applications to the financial regulators in Luxembourg, Italy
and Hong Kong are in progress and decisions are expected to be
confirmed within the next three months.
Additionally, we note that two of the major proxy agencies, ISS
and Glass Lewis, have released their recommendations with respect
to GAM's extraordinary general meeting on 18 August 2023. Both have
recommended GAM shareholders back management and vote against
NewGAMe SA's ("NewGAMe") proposals to remove the existing board,
replace them with NewGAMe's slate of directors, issue a dilutive
convertible bond and launch a special audit.
For further information please contact:
Teneo (Tel: 020 7353 4200, Email: liontrust@teneo.com)
Tom Murray
Liontrust Asset Management Plc (Tel: 020 7412 1700, Website:
liontrust.co.uk)
John Ions: Chief Executive
Vinay Abrol: Chief Financial Officer & Chief Operating
Officer
Simon Hildrey: Chief Marketing Officer
David Boyle: Head of Corporate Development
Singer Capital Markets (Tel: 020 7496 3000)
Corporate Broking: Tom Salvesen
Corporate Finance: Justin McKeegan
Panmure Gordon (Tel: 020 7886 2500)
Corporate Broking: David Watkins
Corporate Advisory: Atholl Tweedie
ENDS
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END
ACQUPUCGRUPWGBM
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August 08, 2023 02:00 ET (06:00 GMT)
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