Ninety One PLC and Ltd - London and Cape Town-based money manager - Says its assets under management decline by 7.0% to GBP132.4 billion for the third quarter that ended December 31, down from GBP141.7 billion at the same time in 2021. But AUM was marginally higher from GBP132.3 billion as at September 30. The company will publish its fourth quarter AUM update on April 18.
Ninety One says separately it will continue to engage with a wide range of shareholders in the coming months to further understand their position on the matter of share issuance under the general authority. At the annual general meeting held on July 26, some 21.25% shareholders voted against the general authority to issue shares for cash. The group says it recognises shareholder concerns regarding the dilution of their rights and investments and reiterates that it currently has no intention to issue new shares under the general authority. It believes that the general authority is important for maintaining flexibility and optionality in Ninety One's capital management.
Current stock price in London: 189.20 pence, down 0.6% on Tuesday
12-month change: down 25%
Current stock price in Johannesburg: ZAR41.51, down 0.6%
12-month change: down 25%
By Artwell Dlamini, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Ninety One (N91)