Liontrust extends the offer period to 23 August 2023
4 AUG, 2023
John Ions, Chief Executive Officer at Liontrust.
Liontrust Asset Management Plc has announced the extension of the offer period Main to 23 August 2023 at 16:00 CEST.
This will give the shareholders of GAM Holding AG more time to evaluate the public offer exchange offer of Liontrust. The publication of the provisional announcement regarding the interim results of the offer is scheduled for 24 August 2023.
Shareholders of GAM who have already subscribed or intend to tender their shares under the Liontrust Offer may still participate and, in particular, cast their votes at the Extraordinary General Meeting of Shareholders ("EGM") on 18 August 2023.
Shareholders registered in the share register of GAM with voting rights as of 9 August 2023 (the closing date of the register) will be entitled to vote at the EGM, irrespective of whether they have brought their shares to acceptance under the Liontrust Offer. Shareholders wishing to cast their votes through the independent representative must submit their voting instructions by 15 August 2023 at 23:59 CEST.
GAM is pleased to note the publication by proxy voting advisor ISS of its recommendations for GAM shareholders to vote against all of Newgame's proposals and cast their votes in line with the recommendations of GAM's Board of Directors at the EGM.
GAM's Board of Directors continues to strongly recommend Liontrust's offer and urges shareholders to tender their shares and vote to reject all of the EGM proposals.
Following the release of this presentation, Liontrust feels an even greater responsibility to GAM shareholders, employees, and clients to complete the proposed acquisition of GAM Holding AG (“GAM”) which was announced on 4 May 2023 (the “Proposed Acquisition”). As we have had extensive meetings with the GAM investment managers and other GAM employees around the world, we have become even more excited about the fantastic potential for growing the combined businesses. Given this, we have today extended our offer period to allow GAM shareholders to make a straight choice between the Proposed Acquisition and NewGAMe’s proposals for GAM. As we have said a number of times, the Proposed Acquisition by Liontrust will benefit GAM shareholders, employees, and clients by stabilizing the GAM business financially and reducing costs through synergies. It will also provide a path to global growth through the enlarged product range and global distribution capability by combining Liontrust with GAM.
John Ions, Chief Executive Officer.
Upcoming events:
- 18 August 2023 Extraordinary General Meeting
- 19 October 2023 Interim Financial Statements Q3 2023
