Quilter could nearly halve shareholder base
The company is planning an ‘odd-lot’ offer, which entails buying back shares from those holding fewer than 100
11 March 2020 - 12:04
London-based Quilter, Old Mutual’s former wealth management business, plans to spend about £30m (about R623m) buying back shares from smaller shareholders to reduce costs.
Shareholders with fewer than 100 shares would be able to sell their stakes at a 5% premium, a move Quilter said could roughly halve the number of shareholders and reduce the complexity and cost of managing its shareholder base. ..
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