THIS 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.
FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.
LEI: 549300XVXU6S7PLCL855
For immediate release
29 August 2023
Stock Exchange Announcement
LIONTRUST ASSET MANAGEMENT PLC
Definitive Notice of the Interim Result of Liontrust's Offer for GAM Holding AG
Liontrust 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.
Liontrust 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.
Liontrust 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.
In 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.
1 As set out in the Swiss Offer Prospectus that was published on 13 June 2023.
2 As defined in the shareholder circular that was published by Liontrust on 13 June 2023.
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
Alantra Corporate Finance LLP (Tel: 020 7246 0500)
Lead Financial Adviser
JP McGrath, Jake Delaney, André Chetty
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