26th Apr 2022 11:33
Schroders PLC - London-based asset manager - Plans to give voting rights to holders of non-voting shares in order to create a single class of ordinary share that will leave the company 43% owned by the Schroder family. Each non-voting share will be converted into one new voting share. To compensate voting share holders for the resulting dilution, they will receive 3 new shares for every 17 already held. The Schroder family currently holds 47.9% of voting ordinary shares and 20.4% of non-voting shares. Separate polls of voting and non-voting shareholders will be held, with 75% approval of each class of shareholders required to pass the plan. Schroders says the conversion will increase the liquidity of all shares.
Current stock price: 2,902.00 pence, down 2.2% on Tuesday
12-month change: down 18%
By Tom Waite; [email protected]
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