RNS Number : 0352Y
Man Group plc
01 July 2008
RETURN OF CASH - SETTING OF DEFERRED STERLING EQUIVALENT AND REDEMPTION OF B SHARES
Return of Cash - Update
Man Group plc (the "Company") is pleased to provide an update in respect of the Return of
Cash to Shareholders.
The Return of Cash was approved by Shareholders on 23 November 2007. The Dividend
Alternative and the Immediate Capital Alternative were
effected, in accordance with the terms of the Return of Cash, in December 2007.
Setting of Deferred Sterling Equivalent
Today, the Deferred Sterling Equivalent of the US$1.40 return per Existing Ordinary Share
was set in respect of B Shares issued under
the Deferred Capital Alternative.
The exchange rate at which sterling has been purchased with US$ for spot value applicable
to the Deferred Capital Alternative is
£/US$1.99905. This exchange rate is the WM/Reuters mid spot £/US$ exchange rate at today's
11 a.m. (London time) fixing. Consequently,
relevant Shareholders will receive 70.0333 pence in cash for each B Share that they hold as
issued under the Deferred Capital Alternative.
The proceeds under the Deferred Capital Alternative are expected to be sent to
Shareholders by 7 July 2008.
Redemption of B Shares under Deferred Capital Alternative
Today, the Company redeemed 47,689,017 B Shares (being those B Shares issued pursuant to
the Deferred Capital Alternative) for US$1.40
per B Share. The Deferred Sterling Equivalent of the redemption proceeds, being 70.0333 pence
per B Share and £33,398,176.03 in aggregate,
is expected to be sent to Shareholders by 7 July 2008.
Following this redemption, there will be no further B Shares in issue.
Share certificates in respect of the B Shares are no longer valid and should be
destroyed.
Defined terms in this announcement bear the meanings as set out in the circular to
Shareholders dated 22 October 2007 unless stated
otherwise.
Merrill Lynch International, which is authorised and regulated by the Financial Services
Authority, is acting exclusively for Man Group
plc and no one else in connection with the proposed Return of Cash and will not be responsible
to anyone other than Man Group plc for
providing the protections afforded to clients of Merrill Lynch International or for providing
advice in relation to the Return of Cash.
Enquiries:
Man Group plc 020 7144 1000
Peter Clarke
David Browne
Merlin 020 7653 6620
Paul Downes 07900 244 888
Paul Farrow 07747 607 768
About Man Group plc
Man is a world-leading alternative investment management business. With a broad range of
funds for institutional and private investors
globally, it is known for its performance, innovative product design and investor service. Man
manages over US$78 billion and employs 1,600
people in 13 countries worldwide.
The original business was founded in 1783. Today the parent company, Man Group plc, is
listed on the London Stock Exchange. It is ranked
in the top 40 companies of the FTSE 100 Index with a market capitalisation of about US$20
billion.
Man supports many awards, charities and initiatives around the world, including
sponsorship of the Man Booker literary prizes and the
Man Group International Climate Change Award. Further information can be found at
www.mangroupplc.com.
Note: References to times in this announcement are to London times. If any of the above
times or dates should change, the revised times
and/or dates will be notified to Shareholders by an announcement on a Regulatory Information
Service.
This information is provided by RNS
The company news service from the London Stock Exchange
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