Result of General Meeting

Released : 19.06.2017 15:07:00

RNS Number : 5055I
Standard Life plc
19 June 2017
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF APPLICABLE LAWS

 

Standard Life plc ("Standard Life")

Results of General Meeting 

 

Standard Life shareholders vote in favour of the merger with Aberdeen Asset Management PLC ("Aberdeen") (the "Merger").

 

The Board of Standard Life is pleased to announce that the resolutions put to its General Meeting held earlier today, Monday 19 June 2017, were duly passed. 

 

Sir Gerry Grimstone, Chairman of Standard Life, commented:

 

"I'm delighted our shareholders have voted to support the Merger today.  Our Merger with Aberdeen will be one of the most significant events in our near-200 year history, creating a well-diversified world-class investment company.

 

"Proudly headquartered in Scotland, and employing some of the best talent in our industry, our new combined company will continue to put our customers and clients across the world at the centre of everything we do.

 

"There are still some approvals to be granted before the Merger can complete and I know the teams in both companies are working through these diligently.  We are still on track for a completion date of Monday 14 August and will keep our shareholders informed of developments."

 

The results of the poll were as follows:

 


For

% For

Against

 

Total Votes Validly Cast

Votes Withheld

Resolution 1:

To approve the Merger (as described in the Circular and Notice of General Meeting) 1

 

818,978,970

98.60

11,626,979

830,605,949

50,578,183

Resolution 2:

To approve the Directors' Remuneration Policy (as described in the Circular and Notice of General Meeting)

 

715,476,157

94.55

41,212,837

756,688,994

123,003,556

 

1  With the consent of the meeting, Resolution 1 was passed as amended.

 

The total number of shares in issue at 6pm on Thursday 15 June 2017 was 1,979,461,347 ordinary shares of 122/9 pence each.

 

Votes withheld are not a vote in law and have not been counted in the calculation of the votes for and against the resolution, the total votes validly cast or the calculation of the proportion of issued share capital voted.

 

A copy of the resolutions is available for inspection in the Circular previously submitted to the UK Listing Authority's Document Viewing Facility, via the National Storage Mechanism at www.morningstar.co.uk/uk/nsm

 

The Circular and the voting results are also available on the Standard Life plc website at www.standardlife.com

 

Standard Life Shareholders may request a hard copy of this announcement by: (i) contacting Standard Life Shareholder Services during business hours on 0345 113 0045 or +44 20 3367 8224 or (ii) by submitting a request in writing to Standard Life Shareholder Services, 34 Beckenham Road, Beckenham, Kent BR3 4TU.

 

19 June 2017

 

Enquiries:

Group Secretariat

Paul McKenna

 

+44 (0) 131 245 1168*

 

 

 

Media Relations

Barry Cameron

 

+44 (0) 131 245 6165*

+44 (0) 7712 486 463

 

 

 

Investor Relations

Jakub Rosochowski

 

+44 (0) 131 245 8028*

+44 (0) 7515 298 608

 

* Calls may be monitored and/or recorded to protect both you and us and help with our training.  Call charges will vary.

 

LEI: OTMBS544NMO7GLCE7H90

 

 

Important Notices

 

This announcement is for information purposes only and does not constitute or form part of any offer to sell or subscribe for or any invitation to purchase or subscribe for any securities of the solicitation of any vote or approval in any jurisdiction pursuant to the Merger. It does not constitute a prospectus or prospectus equivalent document.

 

Overseas Jurisdictions

 

The release, publication or distribution of this announcement in or into jurisdictions other than the United Kingdom may be restricted by law and therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom should inform themselves about, and observe any applicable legal or regulatory requirements.  Any failure to comply with the applicable restrictions may constitute a violation of the securities laws of any such jurisdiction.  To the fullest extent permitted by applicable law the companies and persons involved in the Merger disclaim any responsibility or liability for the violation of such restrictions by any person.  This announcement has been prepared for the purpose of complying with English law and the information disclosed may not be the same as that which would have been disclosed if this announcement had been prepared in accordance with the laws of jurisdictions outside the United Kingdom.

 

Further details in relation to Aberdeen Shareholders in overseas jurisdictions is contained in the Scheme Document.

 

Cautionary Note Regarding Forward-Looking Statements

 

This announcement (including information incorporated by reference into this announcement), oral statements regarding the Merger and other information published by Standard Life and Aberdeen contain certain forward-looking statements with respect to the financial condition, strategies, objectives, results of operations and businesses of Standard Life and Aberdeen and their respective groups and certain plans and objectives with respect to the Combined Group.  These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations and projections of the management of Standard Life and Aberdeen about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. The forward-looking statements contained in this announcement include statements relating to the expected effects of the Merger on Standard Life and Aberdeen, the expected timing and scope of the Merger and other statements other than historical facts. Forward-looking statements often use words such as "anticipate", "target", "expect", "estimate", "intend", "plan", "goal", "believe", "hope", "aims", "continue", "will", "may", "should", "would", "could", or other words of similar meaning.  These statements are based on assumptions and assessments made by Standard Life, and/or Aberdeen in light of their experience and their perception of historical trends, current conditions, future developments and other factors they believe appropriate.  By their nature, forward-looking statements involve risk and uncertainty, because they relate to events and depend on circumstances that will occur in the future and the factors described in the context of such forward-looking statements in this announcement could cause actual results and developments to differ materially from those expressed in or implied by such forward-looking statements.  Although it is believed that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct and readers are therefore cautioned not to place undue reliance on these forward-looking statements. 

 

There are several factors which could cause actual results to differ materially from those expressed or implied in forward-looking statements.  Among the factors that could cause actual results to differ materially from those described in the forward-looking statements are changes in the global, political, economic, business, competitive, market and regulatory forces, future exchange and interest rates, changes in tax rates and future business combinations or dispositions. For a discussion of important factors which could cause actual results to differ from forward-looking statements in relation to the Standard Life Group or the Aberdeen Group, refer to the annual report and accounts of the Standard Life Group for the financial year ended 31 December 2016 and of the Aberdeen Group for the financial year ended 30 September 2016, respectively.

 

Each forward-looking statement speaks only as at the date of this announcement.  Neither Standard Life nor Aberdeen, nor their respective groups assumes any obligation to update or correct the information contained in this announcement (whether as a result of new information, future events or otherwise), except as required by applicable law.

 


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