6th Mar 2025 18:47
Ninety One PLC and Ltd - London and Cape Town-based money manager - Says it will ask its shareholders to vote on the issuance of new shares at a general meeting on April 9. This comes after Ninety One and Sanlam Ltd said Thursday they have concluded "key operative agreements" for their planned strategic partnership. Back in November last year, Ninety One and Sanlam announced they had reached an agreement that will see Sanlam appoint Ninety One as its primary active investment manager. On Thursday, the two said Sanlam will receive a total of 125.7 million shares in Ninety One as part of the arrangement. This allocation represents a 12.3% equity stake in Ninety One. Excluding ARC Financial Services Investments Pty Ltd, Sanlam will hold an effective shareholding of about 8.9% in Ninety One. Read More
