Shareholders on the UK register (Odd-lot Offer)

The Odd-lot Offer was a way of offering shareholders who held fewer than 100 Ordinary Shares the opportunity to sell all their shares at a 5% premium to the market price (the ‘Offer Price’), without incurring any dealing costs. Please also see ‘What is the Offer Price?’ below.

As part of our drive for efficiency in how we run our business and consistent with our desire to act in the best interests of all our shareholders, we decided to undertake an Odd-lot Offer. Shareholders approved the Odd-lot Offer at the 2019 Annual General Meeting.

Quilter had approximately 460,000 shareholders, of whom around 220,000 each held fewer than 100 Ordinary Shares. These, principally South African shareholders, were originally granted their shares in Old Mutual plc from their interest as policy holders when that business demutualised in 1999. They did not actively choose to invest in a UK domiciled company and became Quilter shareholders as a result of our Managed Separation from Old Mutual plc in 2018.

The Odd-lot Offer reduced the complexity and cost of managing our shareholder base and allowed shareholders holding small numbers of Ordinary Shares to dispose of their shareholding in a cost effective manner.

The Offer Price was 120.24 pence (GBP).

In the case of Ordinary Shares held on the UK Register, the Offer Price was set at a 5% premium to the volume weighted average price of Ordinary Shares traded on the London Stock Exchange over the five trading days prior to the date on which the Offer Price was finalised (the period from Friday 17 April 2020 to Thursday 23 April 2020).

To assist shareholders, a general description of the UK tax treatment is available here.

If you did not return your documentation ahead of the deadline, your shares were acquired by Quilter plc under the terms of the Odd-lot Offer. Please contact your Registrar for more information about how you can receive your proceeds.