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Virgin Money UK PLC (VMUK)

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Friday 05 June, 2020

Virgin Money UK PLC

Smaller Related Party Transaction

RNS Number : 0184P
Virgin Money UK PLC
05 June 2020
 

 

 

 

 

 

VIRGIN MONEY UK PLC

(Company)

 

LEI:  213800ZK9VGCYYR6O495

 

05 June 2020

 

Smaller related party transaction

 

Virgin Money Unit Trust Managers Limited ("VMUTM") is a joint venture between Virgin Money UK PLC ("Virgin Money") and Aberdeen Asset Management PLC ("AAM"), a wholly owned subsidiary of Standard Life Aberdeen plc. VMUTM provides asset management services.

 

VMUTM is a related party of Virgin Money.

 

Virgin Money has committed to providing additional funding of up to £12.5m over the next 12 months to support the strategic and customer proposition development of VMUTM, with AAM, as VMUTM's other shareholder, also committed to providing additional funding of up to £12.5m over the same timeframe.

 

There is no immediate income statement or capital impact for Virgin Money in relation to this action.

 

The transaction falls within Listing Rule 11.1.10R (smaller related party transactions) and this announcement is made in accordance with Listing Rule 11.1.10R(c).

 

Announcement authorised for release by Lorna McMillan, Group Company Secretary.

 

For further information, please contact:

 

Investors and Analysts

 

Andrew Downey

07823 443 150

Head of Investor Relations

[email protected]

 

 

Company Secretary

 

Lorna McMillan

07834 585436

Group Company Secretary

[email protected]

 

 

Media Relations

 

Press Office

0800 066 5998

 

[email protected]

 

 

 


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