Replacement: Procedures for m

RNS Number : 6879K

Prudential PLC

23 April 2010

 



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM THE UNITED STATES, INDIA, JAPAN, MALAYSIA, NEW ZEALAND, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION.  PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS PRESS RELEASE.

For immediate release

23 April 2010

PRUDENTIAL PLC

PROCEDURES FOR MOVING SHARES IN CONNECTION WITH THE PROPOSED LISTING ON THE STOCK EXCHANGE OF HONG KONG LIMITED
AND THE STOCK EXCHANGE OF SINGAPORE

Prudential plc ("Prudential") today announced an update in relation to its application for a listing of its ordinary shares on the main board of The Stock Exchange of Hong Kong Limited (the "Hong Kong Stock Exchange"), to be effected by way of an introduction (the "Hong Kong Introduction"), as a dual primary listing alongside its primary listing of ordinary shares in London.  The listing committee of the Hong Kong Stock Exchange considered Prudential's application for the Hong Kong Introduction on 21 April 2010 and it is expected that dealings in the ordinary shares of Prudential on the main board of the Hong Kong Stock Exchange will commence at 9.30 a.m. (Hong Kong time) on 11 May 2010. 

Prudential also announced today that it has applied to the Singapore Exchange Securities Trading Limited (the "SGX-ST") for a secondary listing by way of introduction on the SGX-ST (the "Singapore Introduction").  It is expected that dealings in the ordinary shares of Prudential on the main board of the SGX-ST will commence at 9.30 a.m. (Singapore time) on 11 May 2010. 

Prudential expects to publish listing documents for each of the Hong Kong Introduction and the Singapore Introduction on or around 5 May 2010, with the documents available from Prudential's website www.prudential.co.uk/transaction. The listing document for the Hong Kong Introduction will also be available from the website of the Hong Kong Stock Exchange www.hkex.com.hk and physical copies will be made available for collection at the office of Credit Suisse (Hong Kong) Limited at 45/F, Two Exchange Square, 8 Connaught Place, Central, Hong Kong.

This announcement contains details of how eligible shareholders will be able to remove their shares from Prudential's principal register of members in the UK (the "principal register") to a branch register of members resident in Hong Kong (the "Hong Kong branch register"), which Prudential will establish in preparation for the Hong Kong Introduction.  A registered address in Hong Kong is required in order to have shares registered on the Hong Kong branch register.  In addition, this announcement contains details of how eligible shareholders will be able to move their shares for trading on the SGX-ST.

Removal of shares to the Hong Kong branch register

In order for shares to be removed from the principal register to the Hong Kong branch register prior to the Hong Kong Introduction, shareholders will need to follow the procedure described in this announcement.

Shareholders should note that removing their shares from the principal register to the Hong Kong branch register prior to the Hong Kong Introduction requires the return of the relevant documentation to Prudential's registrars, Equiniti Limited by 5.00 p.m. (UK time) on 6 May 2010, and, in the case of shares held in CREST, the settlement of the relevant stock withdrawal in CREST by 3.00 p.m. (UK time) on 6 May 2010.

Only Prudential shares which are registered on the Hong Kong branch register will be capable of being traded on the Hong Kong Stock Exchange once the Hong Kong Introduction becomes effective.  Shares on the Hong Kong branch register will be eligible to be deposited into the Central Clearing and Settlement System ("CCASS"), the computerised book-entry clearing and settlement system for securities traded on the Hong Kong Stock Exchange.

Only Prudential shares which have been moved to The Central Depository (Pte) Limited ("CDP") as described further in "Singapore: movement of shares to CDP for trading on the SGX-ST" below will be capable of being traded on the SGX-ST.

Following the Hong Kong Introduction, shares on Prudential's principal register of members will continue to be capable of being traded on the main market of the London Stock Exchange and American Depositary Receipts representing Prudential's shares will continue to trade on the New York Stock Exchange.

Special arrangements for removal of shares to the Hong Kong branch register

Special arrangements have been put in place to facilitate removals of shares from Prudential's principal register to the Hong Kong branch register prior to, and during a period following, the Hong Kong Introduction.  These are described below.

Removals to the Hong Kong branch register effective prior to the Hong Kong Introduction

For shareholders who wish to be registered on the Hong Kong branch register by 11 May 2010, when it is expected that the Hong Kong Introduction will become effective, Equiniti Limited and Prudential's Hong Kong branch registrar Computershare Hong Kong Investor Services Limited ("Computershare Hong Kong") will arrange for the removal of shares to the Hong Kong branch register in a single batch as described below (the "batch removal process").  Shareholders who wish to remove their shares from the principal register to the Hong Kong branch register using this process will need to complete a Request for Removal of Securities Form.  The form, which contains details of how it should be returned, is available from Prudential's website at www.prudential.co.uk/transaction.  For shares to be registered on the Hong Kong branch register by 11 May 2010, when it is expected that the Hong Kong Introduction will become effective, the Request for Removal of Securities Forms must be received by Equiniti Limited by no later than 5.00 p.m. (UK time) on 6 May 2010.  Except in circumstances where the shares are held in CREST and the shareholder has made a stock withdrawal instruction through the CREST system on the same day as described below, the corresponding share certificates must be sent to Equiniti Limited together with the Request for Removal of Securities Form.

There are no fees payable in respect of such removals of shares. 

Shares held in CREST must be withdrawn from CREST in order to be removed to the Hong Kong branch register.  Accordingly, in addition to submitting a Request for Removal of Securities Form, shareholders holding their shares through CREST should arrange for a stock withdrawal instruction to be sent through the CREST system specifying the number of shares to be withdrawn from CREST and the name and address for registration of such shares on the principal register prior to transfer to the Hong Kong branch register.  This stock withdrawal instruction must settle by 3.00 p.m. (UK time) on 6 May 2010, taking into account standard settlement times within the CREST system.  In order to facilitate the transfer of the shares to the Hong Kong branch register, this should be the name and address which will be registered on the Hong Kong branch register.  This must be a registered address in Hong Kong to be eligible for entry on the Hong Kong branch register. The same name should appear on the Request for Removal of Securities Form.  In order to facilitate deposit of the shares into CCASS following their removal to the Hong Kong branch register, the name and address specified upon withdrawal from CREST should where possible be that of the CCASS participant or person holding an account with a CCASS participant who will hold the shares in CCASS.  

The Request for Removal of Securities Form will set out the terms and conditions relating to the batch removal process.  In particular, in signing a Request for Removal of Securities Form a shareholder agrees that, in the event the Hong Kong Introduction does not proceed, Prudential is authorised to arrange for its shares to be removed back to Prudential's principal register.

If a duly completed Request for Removal of Securities Form is received by Equiniti Limited by 5.00 p.m. (UK time) on 6 May 2010 together with the corresponding share certificates, or, if the shares are held in CREST, settlement of a stock withdrawal instruction (which instruction must be settled by 3.00 p.m. (UK time) on 6 May 2010), subject to the granting of admission of, and permission to deal in, Prudential's ordinary shares on the main board of the Hong Kong Stock Exchange by the listing committee of the Hong Kong Stock Exchange, it is expected that the relevant shares will be registered on the Hong Kong branch register by 10 May 2010 and that the corresponding share certificates will be despatched to the address of the shareholder specified on the Hong Kong branch register or be available for collection from the offices of Computershare Hong Kong at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong.  In order for a shareholder or its specified nominee to arrange collection of its share certificates it should, following the return of its Request for Removal of Securities Form to Equiniti Limited, notify Computershare Hong Kong in writing to the address set out above, by email to [e-mail] or by fax to (852) 2865 0990 or (852) 2529 6087, before 10 May 2010.

Once any shares have been removed to the Hong Kong branch register, they may be deposited in CCASS in accordance with the rules of CCASS.  Whether such shares will be immediately credited to the stock account of the CCASS participant for electronic book-entry settlement in CCASS will also be subject to the rules of CCASS.  As such, any person who would want to take advantage of the expedited procedure for removals to settle share transactions in Hong Kong through CCASS should consult their CCASS participant ahead of time.

Ad hoc removals of shares to the Hong Kong branch register - expedited procedure and standard procedure

In addition to the batch removal process, subject to the restrictions set out above, any shareholder whose shares are registered on the principal register may request the removal of those shares to the Hong Kong branch register as described below.  From 7 May 2010 until 15 June 2010 (subject to the suspension described below in "Suspension of removals between registers in relation to rights issue"), Equiniti Limited and Computershare Hong Kong will make available an expedited process for ad hoc removals of shares to the Hong Kong branch register within two business days at no charge to shareholders as described in "Expedited procedure for removals" below.  From 16 June 2010 onwards, this expedited process will cease to be available and the processes described in "Non-expedited procedure for removals" below will become available.

Expedited procedure for removals

From 7 May 2010 until 15 June 2010 (subject to the suspension described below in "Suspension of removals between registers in relation to rights issue"), shareholders will be able to obtain a Request for Removal of Securities Form from Equiniti Limited and Prudential's website at www.prudential.co.uk/transaction.  On the return of such form to Equiniti Limited, duly completed,  Equiniti Limited will arrange for the removal of such shares to the Hong Kong branch register, as long as the shareholder concerned provides a registered address in Hong Kong.  Except in circumstances where the shares are held in CREST and the shareholder has made a stock withdrawal instruction through the CREST system on the same day as described below, the corresponding share certificates must be sent to Equiniti Limited together with the Request for Removal of Securities Form.

This service will be available without charge to the shareholder concerned.

If a duly completed Request for Removal of Securities Form and the corresponding share certificates, or, if the shares are held in CREST, settlement of a stock withdrawal instruction, are received by Equiniti Limited prior to 3.00 p.m. (UK time) on a UK business day, the share registrars aim to complete an expedited removal of shares from the principal register to the Hong Kong branch register within a period of one UK business day plus one Hong Kong business day (provided that, in the case of shareholders who hold their shares in CREST, the stock withdrawal instruction has settled through CREST by 3.00 p.m. (UK time) on the day that the request is received by Equiniti Limited).  Under such circumstances, it is therefore expected that the shares would be registered on the Hong Kong branch register, and the corresponding share certificates would be despatched to the address of the shareholder specified on the Hong Kong branch register or be available for collection from the offices of Computershare Hong Kong at the address set out above, by 9.00 a.m. (Hong Kong time) on the date falling one UK business day plus one Hong Kong business day after the date of receipt by Equiniti Limited of the Request for Removal of Securities Form.  In order for a shareholder or its specified nominee to arrange collection of its share certificates it should, following the return of its Request for Removal of Securities Form to Equiniti Limited, notify Computershare Hong Kong in writing to the address set out above, by email to [e-mail] or by fax to (852) 2865 0990 or (852) 2529 6087, before 9.00 a.m. (Hong Kong time) on the date falling one UK business day plus one Hong Kong business day after the date of receipt by Equiniti Limited of the Request for Removal of Securities Form.

Shares held in CREST must be withdrawn from CREST in order to be removed to the Hong Kong branch register.  Accordingly, in addition to submitting a Request for Removal of Securities Form, shareholders holding their shares through CREST should arrange for a stock withdrawal instruction to be sent through the CREST system specifying the number of shares to be withdrawn from CREST and the name and address for registration of such shares on the principal register prior to transfer to the Hong Kong branch register.    In order to facilitate the transfer of the shares to the Hong Kong branch register, this should be the name and address which will be registered on the Hong Kong branch register. This must be a registered address in Hong Kong to be eligible for entry on the Hong Kong branch register. The same name should appear on the Request for Removal of Securities Form.  In order to facilitate deposit of the shares into CCASS following their removal to the Hong Kong branch register, the name and address specified upon withdrawal from CREST should where possible be that of the CCASS participant or person holding an account with a CCASS participant who will hold the shares in CCASS.

Once a share has been removed to the Hong Kong branch register, it may be deposited in CCASS in accordance with the rules of CCASS.  Whether such shares will be immediately credited to the stock account of the CCASS participant for electronic book-entry settlement in CCASS will also be subject to the rules of CCASS.  As such, any person who would want to take advantage of the expedited procedure for removals to settle share transactions in Hong Kong through CCASS should consult their CCASS participant ahead of time.

Shareholders who wish their shares to be registered on the Hong Kong branch register by 11 May 2010, when it is expected that the Hong Kong Introduction will become effective, should use the batch removal process described under "Removals to the Hong Kong branch register effective prior to the Hong Kong Introduction" above.  Under the batch removal process, in order to be registered on the Hong Kong branch register by 11 May 2010, the Request for Removal of Securities Form must be received by Equiniti Limited by no later than 5.00 p.m. (UK time) on 6 May 2010 together with the corresponding share certificates, or, if the shares are held in CREST, settlement of a stock withdrawal instruction (which instruction must be settled by 3.00 p.m. (UK time) on 6 May 2010).

In signing and lodging a Request for the Removal of Securities Form before the Hong Kong Introduction becomes effective a shareholder agrees that, in the event the Hong Kong Introduction does not proceed, Prudential is authorised to arrange for its shares to be transferred back to Prudential's principal register. 

Any shareholder whose shares are registered on the Hong Kong branch register will be able to obtain a request for removal of securities form from Computershare Hong Kong for a removal to the principal register from 11 May 2010.  On the return of such form to Computershare Hong Kong, duly completed, together with the corresponding share certificates and payment for the relevant charges, Computershare Hong Kong will arrange for the removal of such shares to the principal register.  Shares held in CCASS must be withdrawn from CCASS in accordance with the rules of CCASS and registered onto the Hong Kong branch register before they can be removed to the principal register.

Where a duly completed request for removal of securities form is received by Computershare Hong Kong together with the corresponding share certificate prior to 5.00 p.m. (Hong Kong time) on a Hong Kong business day, the share registrars aim to complete an expedited removal of shares from the Hong Kong branch register to the principal register within a period of one Hong Kong business day plus one UK business day. This service will be available without charge to the shareholder concerned.

Once a share has been removed to the principal register, it may be deposited into CREST in accordance with the rules of CREST.

Non-expedited procedure for removals

From 16 June 2010 onwards, any shareholder whose shares are registered on the principal register will be able to obtain a Request for Removal of Securities Form from Equiniti Limited. On the return of such form to Equiniti Limited, duly completed, Equiniti Limited will arrange for the removal of such shares to the Hong Kong branch register, provided that the shareholder concerned provides a registered address in Hong Kong.  Except in circumstances where the shares are held in CREST and the shareholder has made a stock withdrawal instruction through the CREST system on the same day as described below, the corresponding share certificates must be sent to Equiniti Limited together with the Request for Removal of Securities Form.

Similarly, any shareholder whose shares are registered on the Hong Kong branch register will be able to obtain a form of request from Computershare Hong Kong for a removal to the principal register from 17 June 2010 (16 June 2010 is a public holiday in Hong Kong).  On the return of such form to Computershare Hong Kong, duly completed, together with the corresponding share certificates and payment for the relevant charges, Computershare Hong Kong will arrange for the removal of such shares to the principal register.

Equiniti Limited and Computershare Hong Kong will offer the removal services described above as both a standard and express service from 16 June 2010.  The fees and processing times from when the transfer services will commence and the fees and processing times for such services are available on request from Equiniti Limited and Computershare Hong Kong.

Shares held in uncertificated form in CREST must be withdrawn from CREST in accordance with the rules of CREST before they can be removed to the Hong Kong branch register. Accordingly, in addition to submitting a Request for Removal of Securities Form, shareholders holding their shares through CREST should arrange for a stock withdrawal instruction to be sent through the CREST system specifying the number of shares to be withdrawn from CREST and the name and address for registration of such shares on the principal register prior to transfer to the Hong Kong branch register.

Similarly, shares held in CCASS must be withdrawn from CCASS in accordance with the rules of CCASS and registered onto the Hong Kong branch register before they can be removed to the principal register.

Once a share has been removed to the principal register, it may be deposited into CREST in accordance with the rules of CREST. Similarly, once a share has been removed to the Hong Kong branch register, it may be deposited in CCASS in accordance with the rules of CCASS.

Suspension of removals between registers in relation to rights issue

Removals between the principal register and the Hong Kong branch register will be suspended for a period in connection with Prudential's rights issue, further terms of which are expected to be announced on 5 May 2010.  It is currently expected that such period will be from 3.00 p.m. (UK time) on 18 May 2010 to 8.00 a.m. (UK time) on 28 May 2010 in the UK and from 4.30 p.m. (Hong Kong time) on 18 May 2010 to 9.30 a.m. on 28 May 2010 (Hong Kong time) in Hong Kong.  Shareholders on the Hong Kong branch register will be able to participate in the rights issue in accordance with its further terms to be announced on 5 May 2010.

Singapore: movement of shares to CDP for trading on the SGX-ST

All dealings in and transactions of Prudential shares executed on the SGX-ST will be cleared and settled under the electronic book-entry clearance and settlement system of the CDP, andeffected in accordance with CDP's terms and conditions for the operation of securities accounts, as amended from time to time.

CDP, a wholly-owned subsidiary of Singapore Exchange Limited, is incorporated under the laws of Singapore and acts as a depository and clearing organisation.  CDP holds securities for its accountholders and facilitates the clearance and settlement of securities transactions between accountholders through electronic book-entry changes in the securities accounts maintained by such accountholders with CDP. An investor may open a direct account with CDP or a sub-account with any CDP depository agent. A CDP depository agent may be a member company of the SGX-ST, bank, merchant bank or trust company.

CDP has in turn appointed a nominee to hold the shares deposited with CDP in CCASS. Citibank, N.A., Singapore ("Citibank Singapore") has been appointed by CDP as its global custodian to hold its shares through a CCASS Participant, Citibank, N.A., Hong Kong ("Citibank HK"), in the CCASS system.

A shareholder who holds his shares through CCASS and wishes to trade them on the SGX-ST can move his shares to CDP.  Similarly, a shareholder who holds his shares through CDP can move his shares to CCASS.  In the absence of unforeseen circumstances, the movement of shares into and out of CDP will take a minimum of one SGX-ST market day after the duly completed documentation has been submitted to CDP for processing, assuming that the shareholder has given proper instructions to Citibank HK. 

A shareholder who holds his shares in CREST or on Prudential's principal register and wishes to trade them on the SGX-ST must remove his shares to the Hong Kong branch register as described above. Once removed to the Hong Kong branch register, the shareholder must deposit the shares in CCASS so that they can be moved to CDP.  Similarly, a shareholder who holds his shares in CDP and wishes to move them to CREST or the principal register must first move his shares to CCASS.  The shares must then be withdrawn from CCASS in accordance with the rules of CCASS before they can be removed to the principal register.

Details of the process for moving shares held through CCASS to CDP will be provided in the listing document in relation to the Singapore Introduction.

Suspension of movements of shares into and out of CDP in relation to rights issue

Movements of Prudential shares into and out of CDP's account in CCASS held by Citibank HK will be suspended for a period in connection with Prudential's rights issue, further terms of which are expected to be announced on 5 May 2010.  It is currently expected that such period will be from 5.00 p.m. (Singapore time) on 18 May 2010 to 9.00 a.m. (Singapore time) on 28 May 2010  in Singapore and from 4.30 p.m. (Hong Kong time) on 18 May 2010 to 9.30 a.m. (Hong Kong time) on 28 May 2010 in Hong Kong.  Shareholders in CDP will be able to participate in the rights issue in accordance with its further terms to be announced on 5 May 2010.

Dates subject to change

The dates in relation to the Hong Kong Introduction, the Singapore Introduction, the timetable for removal of shares to the Hong Kong branch register, the suspension of removals between the principal register and the Hong Kong branch register and the suspension of movements of shares into and out of CDP are expected dates only and are subject to change.  Changes to these dates will be notified to a regulatory information service and a copy of any such announcement will be available at www.prudential.co.uk/transaction.

Liquidity arrangements

A further announcement will be made in due course regarding the liquidity arrangements in connection with the Hong Kong Introduction.

Important notice

If a shareholder requests the removal of shares to the Hong Kong branch register, such shares will be unavailable for the settlement of trades from the time that the application to move them to the Hong Kong branch register is made until the later of (i) the shareholder being issued with a share certificate representing the shares moved to the Hong Kong branch register and (ii) the Hong Kong Introduction becoming effective.

The Hong Kong Introduction is subject to the granting of admission of, and permission to deal in, Prudential's ordinary shares by the listing committee of the Hong Kong Stock Exchange.

The Singapore Introduction is subject to the granting of admission of, and permission to deal in, Prudential's ordinary shares by the SGX-ST.

Shareholders should take professional advice in relation to the tax and other consequences of moving shares onto the Hong Kong branch register, into CCASS or into CDP.

Where shareholders have requested a removal of shares to the Hong Kong branch register, whether as part of the batch process or an ad hoc removal request, dealings in those shares cannot take place until the relevant removal procedures have been completed, during which time Prudential's share price could change.  Prudential does not accept any responsibility for any loss or damage which results, directly or indirectly, from the removal of shares to or from the Hong Kong branch register.

This announcement is not a prospectus but an advertisement and investors should not acquire new ordinary shares in Prudential referred to in this announcement except on the basis of the information contained in the Prospectus.

Enquiries:

Media		Investors/Analysts
Ed Brewster	[phone]	Matt Lilley	[phone]
Brunswick UK: Kevin Byram / Michael Lever	[phone]	Jessica Stalley	[phone]
Brunswick HK: Tim Payne / Karin Wong	[phone]	Investor relations	[phone]

This announcement has been issued by and is the sole responsibility of Prudential.

This announcement is for information purposes only and is not intended to and does not constitute or form any part of any offer or invitation to subscribe for or purchase any securities or the solicitation of any offer to subscribe for, purchase, or otherwise acquire any securities.

Copies of the prospectuses for both the rights issue and the listing of New Prudential (which relate to the combination of Prudential and AIA Group Limited, as announced by Prudential on 1 March 2010), when published, will be made available to eligible persons from the registered office of Prudential and from Prudential's website. The Prospectus for the rights issue will give further details of the new ordinary shares in Prudential to be offered pursuant to the rights issue.

No person has been authorised to give any information or to make any representations other than those contained in this announcement and, if given or made, such information or representations must not be relied on as having been authorised.

The announcement is not an offer for sale of or a solicitation of any offer to buy securities in the United States, India, Japan, Malaysia, New Zealand, South Africa or any other jurisdiction. Securities may not be offered or sold in the United States absent registration with the United States Securities and Exchange Commission or an exemption from registration under the U.S. Securities Act of 1933 (the "Securities Act"). Prudential's shares have not been and, if and when issued in connection with either the rights issue or the New Prudential listing, and will not be registered under the Securities Act or under the securities laws of any state or territory of the United States and may not be offered, sold, taken up, exercised, resold, renounced, transferred or delivered, directly or indirectly, in or into the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with state securities laws. Prudential does not intend to register any of the securities referred to herein in the United States or to conduct a public offering of such securities in the United States.

This announcement does not constitute an offering circular or prospectus in connection with an offering of securities of Prudential. Investors must neither accept any offer for, nor acquire, any securities to which this document refers, unless they do so on the basis of the information contained in the Prospectus to be published by Prudential. This document does not constitute an offer to sell or the solicitation of an offer to buy or subscribe for, any securities and cannot be relied upon for any investment contract or decision.

The distribution of this announcement into jurisdictions other than the United Kingdom may be restricted by law. No action has been taken that would permit an offering of such rights or shares or possession or distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

Credit Suisse, HSBC and J.P. Morgan Cazenove are acting solely for Prudential and no one else in connection with the transaction and the rights issue and will not regard as a client anyone (whether or not a recipient of this announcement) other than Prudential in connection with the transaction or the rights issue and will not be responsible to anyone (whether or not a recipient of this announcement) other than Prudential for providing the protections afforded to their clients or for providing advice to anyone other than Prudential in connection with the transaction or the rights issue or any other matter referred to herein.

Apart from the responsibilities and liabilities, if any, which may be imposed on Credit Suisse, HSBC and J.P. Morgan Cazenove by the FSMA, none of Credit Suisse, HSBC and J.P. Morgan Cazenove (or any of their affiliates or agents) accepts any responsibility whatsoever for, and makes no representation or warranty, express or implied, in relation to, the contents of this announcement (including its accuracy, completeness or verification) or any other statement made or purported to be made by it, or on its behalf, in connection with Prudential, the transaction, the Prudential shares, or the rights issue.  Each of Credit Suisse, HSBC and J.P. Morgan Cazenove accordingly disclaims to the fullest extent permitted by law all and any responsibility and liability, whether arising in tort, contract or otherwise (save as referred to above), which it might otherwise have in respect of this announcement or any such statement  J.P. Morgan Cazenove is a marketing name used by J.P. Morgan Securities Ltd. and its affiliates in connection with its UK investment banking activities.

Neither the content of Prudential's website nor any website accessible by hyperlinks on Prudential's website is incorporated in, or forms part of, this announcement.

Prudential plc is not affiliated in any manner with Prudential Financial, Inc, a company whose principal place of business is in the United States of America.

 

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