Ninety One Limited and Ninety One plc Notification of Transaction Completion and Issuance of Consideration Shares

Strategic Insights -

Johannesburg-based Ninety One Limited and its England-based counterpart, Ninety One plc, have reached a significant milestone in their dual-listed companies' structure. As a result of the long-term active asset management relationship between Ninety One and South African financial services group Sanlam, Ninety One UK Limited will acquire Sanlam Investments UK Limited's active asset management business. This transfer is expected to complete on June 16, 2025. Furthermore, Ninety One plc will issue 13,675,595 ordinary shares to Sanlam Investments UK Limited as consideration for the transaction, which will be admitted to listing on the London Stock Exchange and the Johannesburg Stock Exchange on June 17, 2025.

Key Takeaways:

  • Ninety One Limited and Ninety One plc have notified the Johannesburg Stock Exchange (JSE) and the London Stock Exchange (LSE) of the expected completion of the transfer of Sanlam Investments UK Limited's active asset management business to Ninety One UK Limited.
  • The UK component of the transaction is expected to complete on June 16, 2025, marking a significant milestone in the dual-listed companies' structure.
  • Ninety One plc will issue 13,675,595 ordinary shares to Sanlam Investments UK Limited as consideration for the transaction, to be admitted to listing on the LSE and JSE on June 17, 2025.
  • The transfer of Sanlam Investments UK Limited's active asset management business to Ninety One UK Limited highlights the growing partnership between Ninety One and Sanlam.
  • The long-term active asset management relationship between Ninety One and Sanlam aims to strengthen their respective positions in the global asset management industry.

Statistics:

  • 13,675,595 ordinary shares will be issued to Sanlam Investments UK Limited (SI UK) as consideration for the transaction.
  • The transfer of assets under management from SI UK to Ninety One UK is expected to complete on June 16, 2025.
  • The Admissions are expected to take place at 08:00 (BST) / 09:00 (SAST) on Tuesday, 17 June 2025.
  • Ninety One plc is listed on the LSE with the share code N91, while Ninety One Limited is listed on the JSE with the share code NY1.

Sources:

  • Ninety One Limited - announcement regarding the expected completion of the transfer of Sanlam Investments UK Limited's active asset management business to Ninety One UK Limited
  • Sanlam - joint announcements with Ninety One regarding the creation of a long-term active asset management relationship between Ninety One and Sanlam
  • Johannesburg Stock Exchange (JSE) - official listing of Ninety One Limited with share code NY1
  • London Stock Exchange (LSE) - official listing of Ninety One plc with share code N91