Simplification of dual share class structure

RNS Number : 8133Z

Schroders PLC

20 September 2022

 

Schroders plc

(the "Company")

FOR IMMEDIATE RELEASE

20 September 2022

Completion of simplification of the Company's dual class share structure

Further to the announcement by Schroders plc on 13 September 2022, the Company today confirms that it has now completed the simplification of its dual class share structure in accordance with the proposals set out in the shareholder circular dated 12 July 2022 (the "Circular").  Capitalised terms in this announcement take the meaning given to them in the Circular unless otherwise defined.

In particular, the Company has now:

-	enfranchised the Company's 56,505,600 Non-Voting Ordinary Shares by re-designating them into 56,505,600 Ordinary Shares with full voting rights (the "Enfranchisement");
-	issued 39,886,305 Ordinary Shares to existing holders of Ordinary Shares by way of a bonus issue (representing 3 additional Ordinary Shares for every 17 Ordinary Shares held by Ordinary Shareholders at 6.00pm on 16 September 2022) (the "Compensatory Bonus Issue"); and
-	subsequently sub-divided the Company's total resulting 322,414,305 Ordinary Shares of £1 each into 1,612,071,525 New Ordinary Shares of 20 pence each (the "Sub-Division").

Additional information

Admission of the New Ordinary Shares and de-listing of the Non-Voting Ordinary Shares

In connection with these matters:

-	the New Ordinary Shares have today been admitted to the premium listed segment of the Official List of the Financial Conduct Authority and to trading on the main market for listed securities of the London Stock Exchange under the ticker "SDR"; and
-	the Non-Voting Ordinary Shares have today had their listing cancelled from the standard listed segment of the Official List of the Financial Conduct Authority and are no longer capable of being traded on the main market for listed securities of the London Stock Exchange.  As a result of the Enfranchisement, there are no Non-Voting Ordinary Shares in issue.

Change in total voting rights

In accordance with the FCA's Disclosure Guidance and Transparency Rules ("DTRs"), the Company also announces that, as at today's date, its issued share capital comprises 1,612,071,525 New Ordinary Shares of 20 pence.  Each of the New Ordinary Shares carries one vote and there are no New Ordinary Shares held in treasury.

The figure above may be used by shareholders as the denominator for the calculation by which they will determine whether they are required to notify their interest in, or a change to their interest in, New Ordinary Shares in the Company under the DTRs.  

The Company reminds shareholders that, as a result of the implementation of the Compensatory Bonus Issue and the Enfranchisement, certain shareholders may have passed through the thresholds specified as requiring disclosure under the DTRs.

The expected date for dispatch of share certificates where relevant is by 4 October 2022.  Cheques and CREST accounts are also due to be credited in respect of proceeds from sale of fractional entitlement arising as a result of the Compensatory Bonus Issue by the same date.

Enquiries:

Investors
Simonetta Harding	Investor Relations	Tel: [phone]	[e-mail]
Press
Andrew Oxlade	Head of Global Content and Public Affairs	Tel: [phone]	[e-mail]
Simone Selzer	Brunswick	Tel: [phone]	[e-mail]

This announcement does not constitute an invitation to participate in the Compensatory Bonus Issue in or from any jurisdiction in or from which, or to or from which, it is unlawful to make such invitation under applicable securities laws or otherwise or where such offer would require a prospectus to be published. Neither this announcement, nor the Circular or any other announcement issued in connection with proposals in the Circular, may be issued or distributed to any person except under circumstances which do not constitute an offer to the public under applicable securities laws.

 

END

 

 

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