29 Jun 2021 07:05
Standard Life Aberdeen plc ("the Company")
Sale of shares in HDFC Life Insurance Company Limited ("HDFC Life") by Standard Life (Mauritius Holdings) 2006 Limited ("SLMH06")
The Company announces that on Tuesday 29 June 2021, SLMH06, a wholly owned subsidiary of the Company, sold 100,845,1041 shares in HDFC Life (the "Shares") on the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited.
The Shares were sold at an average price of Rs 672.681 which will result in SLMH06 receiving approximately Rs 67.3bn (£652m2), net of taxes and expenses, from the sale. The Company intends to use the proceeds for general corporate purposes.
The Shares sold constituted 4.99% of the paid-up, issued equity share capital of HDFC Life and SLMH06's remaining shareholding in HDFC Life is now 3.89%, based on the paid-up, issued equity share capital. Based on the current share price of Rs 694.23, the value of this remaining shareholding would be approximately Rs 54.6bn (£530m2).
Tuesday 29 June 2021
1 Based on current trade data available, final contract amounts and price will be confirmed by the stock exchanges after market close on 28 June 2021
2 Based on INR|GBP exchange rate of 103.15
3 Based on HDFC Life share price on the National Stock Exchange of India at 10.00am IST on Tuesday 29 June 2021
Enquiries:
Institutional Equity Investors Catherine Nash
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+44 (0) 7798 518 657
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Media Katy Hetherington |
+44 (0) 7841 344 374
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Group Secretariat Paul McKenna |
+44 (0)131 372 0703*
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