M&G plc completes demerger

RNS Number : 5134Q

M&G PLC

21 October 2019

 

M&G plc NEWS RELEASE

21 October 2019

M&G plc

M&G plc completes demerger

M&G plc ("M&G") is pleased to announce the completion of the demerger of M&G from Prudential plc.

The shares of M&G (ticker "MNG") were admitted at 8.00am today to the premium listing segment of the Official List and to trading on the main market of the London Stock Exchange.

CREST accounts will be credited with M&G shares shortly after 8.00am today.  It is expected that M&G shareholders with holdings in certificated form will be sent share certificates in respect of their holdings of M&G shares by 31 October 2019.

On Admission, M&G's issued share capital consisted of 2,599,906,866 shares with a nominal value of £0.05 each and all M&G shares carry voting rights of one vote per share.  M&G does not hold any shares in treasury.

John Foley, Chief Executive of M&G, said:

"Today's listing marks a very significant milestone for M&G.  Our independence and unique business mix means we are well-positioned to benefit from long-term economic and social trends that offer growth opportunities for many years to come.  We will continue to build on our strong track record of value creation as we focus on delivering our capital generation and other objectives as an independent business."

-ENDS-

Enquiries:

Media		Investors/Analysts
Richard Miles	[phone]	Spencer Horgan	[phone]
Jonathan Miller	[phone]
Citigate Dewe Rogerson
Andrew Hey Chris Barrie Toby Moore	[phone] [phone] [phone]

About M&G plc

M&G plc is a leading savings and investments business which was formed in 2017 through the merger of Prudential plc's UK and Europe savings and insurance operation and M&G, its wholly-owned international investment manager.  In March 2018, Prudential plc announced its intention to demerge the company with a premium listing on the London Stock Exchange.  As an independent company, M&G plc has a single corporate identity and continues with two customer-facing brands; Prudential for savings and insurance customers in the UK and Europe and for asset management in South Africa and M&G Investments for asset management clients globally.

Additional information

M&G, a company incorporated in the United Kingdom, is the direct parent company of The Prudential Assurance Company.  The Prudential Assurance Company is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.

Disclaimer

This announcement does not constitute an offer of securities for sale or a solicitation of an offer to purchase securities in any jurisdiction nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefor.

This announcement may contain certain statements relating to the future, including forward-looking statements relating to M&G's financial position and strategy.  In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including the terms 'intend', 'aim', 'project', 'anticipate', 'estimate', 'plan', 'believe', 'expect', 'may', 'should', 'will', 'continue' or other similar words.  These statements discuss future expectations concerning M&G's results of operations or financial condition, or provide other forward-looking statements.

These forward-looking statements are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond M&G's control, and which may cause the actual results to differ materially from those expressed in the statements contained in this announcement. M&G's actual results of operations, financial condition and the development of the business sectors in which M&G operates may differ materially from those suggested by the forward-looking statements contained in this announcement due to certain factors including, but not limited to, domestic and global economic and business conditions, market-related risks pertaining to the financial services industry as a whole, the policies and actions of regulatory authorities, market developments regarding financial services products, the impact of competition, technological development, inflation, deflation, the timing, impact and other uncertainties of any future acquisitions, combinations or divestments within relevant industries, as well as the impact of tax and other legislation and other regulations in the jurisdictions in which M&G operates.  In addition, even if M&G's actual results of operations, financial condition and the development of the business sectors in which it operates are consistent with the forward-looking statements contained in this announcement, those results or developments may not be indicative of results or developments in subsequent periods. Recipients of this announcement are cautioned not to put undue reliance on forward-looking statements.

Any forward looking-statements contained in this announcement only as of the date on which they are made.  M&G expressly disclaims any obligation to update any of the forward-looking statements contained in this announcement or any other forward-looking statements it may make, whether as a result of future events, new information or otherwise except as required pursuant to applicable laws and regulations.

LEI: 254900TWUJUQ44TQJY84

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

 

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