Statement re transaction with ICAP

RNS Number : 1057R
Tullett Prebon PLC
06 December 2016
 

For immediate release

 

6 December 2016

 

Tullett Prebon plc

 

Update on the acquisition of ICAP's global hybrid voice broking and information business

 

The Board of directors of Tullett Prebon plc ("Tullett Prebon") is pleased to note the publication today of a prospectus by NEX Group plc ("NEX") (the "NEX Prospectus") in relation to the admission of the ordinary shares of NEX to the premium listing segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange. The NEX Prospectus has been prepared in connection with a scheme of arrangement pursuant to Part 26 of the Companies Act 2006 to introduce NEX as the new holding company of ICAP plc ("ICAP"). The Board of directors of Tullett Prebon expects the acquisition by Tullett Prebon of ICAP's global hybrid voice broking and information business, including ICAP's associated technology and broking platforms and certain of ICAP's joint ventures and associates (the "Transaction") to complete on 30 December 2016. Completion of the Transaction remains subject to the satisfaction or waiver of a number of conditions.

 

On completion of the Transaction, Tullett Prebon will issue new Tullett Prebon shares directly to NEX shareholders, such that NEX shareholders will hold, in aggregate, approximately 56 per cent. of the issued share capital of Tullett Prebon and existing Tullett Prebon shareholders will hold, in aggregate, approximately 44 per cent. of the issued share capital of Tullett Prebon (calculated on a fully diluted basis and immediately following such issuance). The new Tullett Prebon shares to be issued to NEX shareholders are expected to be admitted to the premium listing segment of the Official List maintained by the Financial Conduct Authority and to trading on the London Stock Exchange's main market for listed securities at 8:00 a.m. on 30 December 2016.

 

 

Ends

 

Enquiries:

Tullett Prebon

Alexandra Wick, Marketing & Communications Director

awick@tullettprebon.com

+44 (0) 20 7200 7579

 

Brunswick

Kim Fletcher, Eilis Murphy, Craig Breheny

tullettprebon@brunswickgroup.com

+44 (0) 20 7404 5959

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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