TIDMABDN
RNS Number : 9143Z
abrdn PLC
28 January 2022
28 January 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN, INTO, OR FROM
THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION
THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN ANY
JURISDICTION, INCLUDING THE UNITED STATES
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
FOR IMMEDIATE RELEASE
abrdn plc ("abrdn" or the "Company")
Result of Secondary Placing in Phoenix Group Holdings plc
abrdn announces that it has sold an aggregate of 39,981,442
ordinary shares (the "Placing Shares") of its shareholding in
Phoenix Group Holdings plc ("Phoenix"), representing approximately
4% of Phoenix's issued share capital, to institutional investors,
at a price of 660 pence per share (the "Placing"), raising
aggregate gross sale proceeds of approximately GBP264 million.
Following settlement of the Placing, which is expected to take
place on 1 February 2022, abrdn's holding will represent
approximately 10.4% of Phoenix's issued share capital and abrdn
will continue to appoint a director to Phoenix's Board.
abrdn intends to return the net proceeds of the Placing to
shareholders, with the method and timing of the return to be
announced as soon as practicable after the Company's results on 1
March.
Goldman Sachs International ("Goldman Sachs") acted as sole
Global Coordinator and Bookrunner in connection with the
Placing.
Phoenix was not a party to the Placing and will not receive any
proceeds from the Placing.
Enquiries:
abrdn plc
Catherine Nash +44 (0)7798 518657
Goldman Sachs International
Charlie Lytle
Mark Maislish
Tom Hartley
George MacGregor +44 (0) 207 774 1000
Important notices:
This announcement has been issued by and is the sole
responsibility of the Company.
This announcement is for information purposes only and is not
intended to and does not constitute an offer to sell, or the
solicitation of an offer to subscribe for or buy, any shares nor
any other securities in any jurisdiction. Shares will not be
generally made available or marketed to the public in the United
Kingdom or any other jurisdiction in connection with the
Placing.
Overseas jurisdictions
The distribution of this announcement into jurisdictions other
than the United Kingdom may be restricted by law, and, therefore,
persons into whose possession this announcement comes should inform
themselves about and observe any such restrictions. Any failure to
comply with any such restrictions may constitute a violation of the
securities laws of such jurisdiction.
In particular, the securities referred to herein have not been
and will not be registered under the United States Securities Act
of 1933, as amended (the "Securities Act") and may not be offered,
sold or transferred, directly or indirectly, in or into the United
States except pursuant to an exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act
and in compliance with all applicable securities laws of any state
or other jurisdiction of the United States. There will be no public
offer of any securities in the United States.
Disclaimer
Goldman Sachs International, which is authorised by the
Prudential Regulation Authority and regulated in the United Kingdom
by the Financial Conduct Authority and the Prudential Regulation
Authority, is acting for the Company in connection with the Placing
and no-one else and they will not be responsible to anyone other
than the Company for providing advice in relation to the Placing or
any other matter referred to in this announcement.
This announcement does not constitute a recommendation to
participate in the Placing. The price and value of securities and
any income from them can go down as well as up. Past performance is
not a guide to future performance. Acquiring shares may expose an
investor to a significant risk of losing all of the amount
invested. Potential investors should consult an independent
financial advisor as to the suitability of the Placing for the
entity or person concerned. The Company reserves the right not to
proceed with the Placing or to vary the terms of the Placing in any
way.
Forward-looking statements
This announcement includes statements that are, or may be deemed
to be, forward-looking statements. These forward-looking statements
may be identified by the use of forward-looking terminology,
including the terms "intends", "expects", "will", or "may", or, in
each case, their negative or other variations or comparable
terminology, or by discussions of strategy, plans, objectives,
goals, future events or intentions. These forward-looking
statements include all matters that are not historical facts and
include statements regarding intentions, beliefs or current
expectations. No assurances can be given that the forward-looking
statements in this announcement will be realised. As a result, no
undue reliance should be placed on these forward-looking statements
as a prediction of actual events or otherwise.
LEI number of abrdn plc: 0TMBS544NMO7GLCE7H90
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