Business
Interim Result of Offer for GAM Holding AG
Interim Result of Offer for GAM Holding AG.
About this update from Liontrust Asset Management Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT, INCLUDING THE APPENDICES AND THE INFORMATION CONTAINED IN THEM, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\n \nFURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\n \nLEI: 549300XVXU6S7PLCL855\nFor immediate release\n29 August 2023\nStock Exchange Announcement\nLIONTRUST ASSET MANAGEMENT PLC\nDefinitive Notice of the Interim Result of Liontrust's Offer for GAM Holding AG\n \nLiontrust Asset Management Plc (\"Liontrust\"), the specialist independent fund management group, today issues the definitive notice of the interim result in relation to its recommended public exchange offer (the \"Offer\") for all publicly held registered shares of GAM Holding AG (\"GAM\") which was published on 13 June 2023.\n \nLiontrust announces that as of the end of the extended Main Offer Period1 on 23 August 2023, 16:00 CEST (\"Extended Main Offer Period\"), a total of 53,250,357 GAM Shares were tendered into the Offer until the end of the Extended Main Offer Period, corresponding to 33.45% of the GAM Shares to which the Offer extends as of the end of the Extended Main Offer Period.\n \nLiontrust therefore declares the Offer to be unsuccessful. Since the Offer has not been successful, there will be no Additional Acceptance Period1 and the Offer will not be settled.\n \nIn relation to the financial support provided by Liontrust to GAM through the Tranche 1 Facility2, which is £8.9 million plus interest, Liontrust has the right to demand immediate repayment on the date falling 30 days after this announcement.\n \n1 As set out in the Swiss Offer Prospectus that was published on 13 June 2023.\n2 As defined in the shareholder circular that was published by Liontrust on 13 June 2023.\n \nFor further information please contact:\n \nTeneo (Tel: 020 7353 4200, Email: [email protected])\nTom Murray\n \nLiontrust Asset Management Plc (Tel: 020 7412 1700, Website: liontrust.co.uk)\nJohn Ions: Chief Executive\nVinay Abrol: Chief Financial Officer & Chief Operating Officer\nSimon Hildrey: Chief Marketing Officer\nD...