6 Feb 2018 15:48
6 February 2018
Sanne Group plc
("SANNE" or "the Company ")
Completion of Acquisition and Issue of Equity
SANNE, the global provider of alternative asset and corporate administration services, announces today that further to its announcement on 29 September 2017, the acquisition of Luxembourg Investment Solutions S.A. and Compliance Partners S.A. (the "Acquired Companies") has completed.
The consideration for the acquisition is made up of an initial element and an earn-out element. Of the initial consideration, 80% is due upon completion, payable part in shares and part in cash. The balance of the initial consideration will be payable following the completion of the Acquired Companies 2017 audit and this is expected in Q2 2018.
Applications have been made to the FCA and the London Stock Exchange, respectively, for the 1,786,173 shares to be admitted to the premium listing segment of the Official List and to trading on the Main Market. It is expected that admission of the shares will become effective and dealings in the shares will commence at 8.00am on Wednesday 7 February 2018.
Following admission of the shares the Company will have 143,395,107 Ordinary Shares of £0.01 each in issue of which 98,533 are held in treasury. Therefore, following admission of the shares the total number of voting rights in the Company will be 143,296,574 (the "Voting Rights Figure"), and this Voting Rights Figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their voting rights interest, or a change to that interest, in the Company under the FCA's Disclosure Guidance and Transparency Rules.
Enquiries:
Sanne Group plc Dean Godwin, Chief Executive Officer Spencer Daley, Chief Financial Officer
| +44 (0) 1534 722 787 |
Investec Bank plc Garry Levin / James Ireland Edward Thomas / Neil Coleman
| +44 (0) 20 7597 5970 |
Tulchan Communications LLP Tom Murray David Ison
| +44 (0) 20 7353 4200
|
Notes - About SANNE
SANNE is a leading global provider of alternative asset and corporate administration services. Established for over 25 years and listed as a FTSE 250 company on the Main Market of the London Stock Exchange, SANNE employs more than 1,200 people worldwide and administers structures and funds that have in excess of £200 billion of assets.
Key clients include alternative asset managers, global financial institutions, family offices, UHNWIs and corporates.
SANNE has a global network of regulated businesses in 15 leading financial jurisdictions, which are spread globally across the Americas, Europe, Africa and Asia-Pacific.
sannegroup.com