poppydog14 Aug 2009 13:33
a bit from RNS
The key terms of the Acquisition include:
total consideration of £1,858 million (based on a Resolution Share price of 88.25 pence as at close of trading on 7 August 2009);
0.9 of a New Resolution Share per Friends Provident Share;
cash consideration for up to the first 2,500 shares held by each Friends Provident Shareholder at 79.4 pence per Friends Provident Share;
total cash consideration of up to £500 million at 79.4 pence per Friends Provident Share (including the cash consideration in respect of up to the first 2,500 shares);
total consideration representing 69 per cent. of adjusted EEV as at 30 June 20091; *
transfer to a primary listing on the Official List of the UKLA at completion; *
inclusion in FTSE index expected to follow completion; *
Friends Provident interim dividend of 1.3 pence per share to be paid before completion of the Acquisition; and
Resolution to commence paying dividends from completion - currently expected to pay a final dividend of 2.72 pence2 per Resolution Share in respect of the second half of 2009.
I have read that government is not entirely happy with Resolution's or perhaps the structure of its deals (to do with it being based in Guernsey), what I read never specifically referred to FP. deal but (perhaps) more to upcoming ones. I think it was actually on this site. It is vague,I need to look into further and I stand to be