Result of General Meeting

RNS Number : 4837S

Standard Life Aberdeen plc

25 June 2018

 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS

Standard Life Aberdeen plc ("Standard Life Aberdeen")

Results of General Meeting 

Standard Life Aberdeen shareholders vote in favour of the sale of Standard Life Assurance Limited to Phoenix Group Holdings (the "Sale").

The Board of Standard Life Aberdeen is pleased to announce that the resolutions put to its General Meeting held earlier today, Monday 25 June 2018, were duly passed. 

Sir Gerry Grimstone, Chairman of Standard Life Aberdeen, commented:

"I'm pleased our shareholders have voted so decisively in favour of our proposals today.  The sale of our UK and European insurance business to Phoenix is an important milestone in our company's history and marks a decisive break from our past as an insurer.

"It is an excellent result and demonstrates our shareholders' overwhelming support for our ambition to become one of the world's leading investment companies."

The results of the poll were as follows:

	For	% For	Against	Total Votes Validly Cast	Votes Withheld
Resolution 1: To approve the Sale (as described in the Circular and Notice of General Meeting)	1,496,225,789	99.26	11,109,619	1,507,335,408	2,227,740
Resolution 2: (Special) To approve a capital return of up to £1bn by way of a B Share Scheme, and an associated share consolidation and amendments to the Articles of Association	1,496,984,116	99.33	10,060,464	1,507,044,580	2,512,844
Resolution 3 (Special) To approve a capital return of up to £750m by way of share buyback through on-market purchases	1,494,689,049	99.16	12,714,431	1,507,403,480	2,109,283

The total number of shares in issue at 6pm on 21 June 2018 was 2,979,431,631 ordinary shares of 12²/₉ pence each.

Votes withheld are not a vote in law and have not been counted in the calculation of the votes for and against the resolution, the total votes validly cast or the calculation of the proportion of issued share capital voted.

A copy of the resolutions is available for inspection in the Circular previously submitted to the UK Listing Authority's Document Viewing Facility, via the National Storage Mechanism at www.morningstar.co.uk/uk/nsm

The Circular and the voting results are also available on the Standard Life Aberdeen plc website at www.standardlifeaberdeen.com

Standard Life Aberdeen Shareholders may request a hard copy of this announcement by: (i) contacting Standard Life Aberdeen Shareholder Services during business hours on 0345 113 0045 or [phone] or (ii) by submitting a request in writing to Standard Life Aberdeen Shareholder Services, 34 Beckenham Road, Beckenham, Kent BR3 4TU.

25 June 2018

Enquiries:

Group Secretariat Paul McKenna	[phone]*
Media Relations Katy Hetherington	[phone]* [phone]
Investor Relations Jakub Rosochowski	[phone]* [phone]

* Calls may be monitored and/or recorded to protect both you and us and help with our training.  Call charges will vary.

LEI: OTMBS544NMO7GLCE7H90

Classification: 3.1. Additional regulated information required to be disclosed under the laws of a Member State

Important Notices

This announcement is for information purposes only and does not constitute or form part of any offer to sell or subscribe for or any invitation to purchase or subscribe for any securities or the solicitation of any vote or approval in any jurisdiction pursuant to the Sale.

Overseas Jurisdictions

The release, publication or distribution of this announcement in or into jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe any applicable legal or regulatory requirements.  Any failure to comply with the applicable restrictions may constitute a violation of the securities laws of any such jurisdiction.  To the fullest extent permitted by applicable law the companies and persons involved in the Sale disclaim any responsibility or liability for the violation of such restrictions by any person.  This announcement has been prepared for the purpose of complying with English law and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom.

Cautionary Note Regarding Forward-Looking Statements

This announcement (including information incorporated by reference into this announcement may contain certain "forward-looking statements" with respect to the financial condition, performance, results, strategy, objectives, plans, goals and expectations of Standard Life Aberdeen and its affiliates. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of Standard Life Aberdeen about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. For example, statements containing words such as "may", "will", "should", "could", "continue", "aims", "estimates", "projects", "believes", "intends", "expects", "hopes", "plans", "pursues", "seeks", "targets" and "anticipates", and words of similar meaning, may be forward-looking. These statements are based on assumptions and assessments made by Standard Life Aberdeen in light of its experience and its perception of historical trends, current conditions, future developments and other factors it believes appropriate. By their nature, all forward-looking statements involve risk and uncertainty because they are based on information available at the time they are made, including current expectations and assumptions, and relate to future events and depend on circumstances which may be or are beyond Standard Life Aberdeen's control, including among other things:  UK domestic and global political, economic and business conditions (such as the United Kingdom's exit from the European Union); market related risks such as fluctuations in interest rates and exchange rates, and the performance of financial markets generally; the impact of inflation and deflation; experience in particular with regard to mortality and morbidity trends, lapse rates and policy renewal rates; the impact of competition; the timing, impact and other uncertainties associated with future acquisitions, disposals or combinations undertaken by Standard Life Aberdeen or its affiliates (including those associated with acquisitions, disposals or combinations announced by Standard Life Aberdeen or its affiliates which have yet to complete including the Sale) and/or within relevant industries; default by counterparties; information technology or data security breaches; natural or man-made catastrophic events; the failure to attract or retain necessary key personnel; the policies and actions of regulatory authorities; and the impact of changes in capital, solvency or accounting standards, and tax and other legislation and regulations (including changes to the regulatory capital requirements that Standard Life Aberdeen is subject to) in the jurisdictions in which Standard Life Aberdeen and its affiliates operate. These may for example result in changes to assumptions used for determining results of operations or re-estimations of reserves for future policy benefits. As a result, Standard Life Aberdeen's actual future financial condition, performance and results may differ materially from the plans, goals, objectives and expectations set forth in the forward-looking statements. Persons receiving this announcement should not place undue reliance on forward-looking statements. Neither Standard Life Aberdeen nor its affiliates assume any obligation to update or correct any of the forward-looking statements contained in this announcement or any other forward-looking statements it or they may make (whether as a result of new information, future events or otherwise), except as required by law. Past performance is not an indicator of future results and Standard Life Aberdeen's previous results, and those of its affiliates, may not be indicative of, and are not an estimate, forecast or projection of, Standard Life Aberdeen's or its affiliates' future results.

Rounding

Certain figures included in this Announcement have been subjected to rounding adjustments. Accordingly, figures shown for the same category presented in different tables may vary slightly and figures shown as totals in certain tables may not be an arithmetic aggregation of the figures that precede them.

 

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