2nd Jul 2018 18:37
LONDON (Alliance News) - Financial services firm Quilter PLC and Old Mutual Global Investors UK Ltd traded investments Monday.
Media company Ascential PLC said Quilter has taken its stake in the company below the notifiable threshold as Old Mutual Global Investors UK Ltd built a holding in the company.
Quilter took its holding in Ascential from 19% to below the notifiable threshold. Its interest in Ascential's 400.7 million issued shares was not reported.
Old Mutual Global Investors built a 19% stake in Ascential. It now has an interest in 75.9 million issued shares. Its stake prior to the transaction was not reported.
Shares in Ascential closed down slightly Monday at 452.40 pence each.
Quilter took its holding in drink company Fevertree Drinks PLC from 9.9% to below the notifiable threshold. Old Mutual Global built a 8.8% holding in the company, representing 9.7 million of Fevertree's 115.5 million issued shares.
Fevertree shares closed up 0.2% Monday at 3,398.00p each.
Quilter took its 16% stake in fashion retailer Boohoo.com below the notifiable threshold as Old Mutual Global took its from an unspecified number to 17%. Old Mutual Global now has an interest in 194.4 million of Boohoo.com's 1.15 billion issued shares.
Shares in Boohoo.com closed down 1.5% at 191.60p each.
Quilter took its stake in retailer Pets at Home Group PLC from 10% to below the notifiable threshold. Whereas, Old Mutual Global took its holding to 10%. Old Mutual Global now has an interest in 50.3 million of Pets at Home's 500.0 million issued shares.
Pets at Home shares closed flat at 129.50p each.
Quilter took its holding in property investment firm Helical PLC from 5.0% to below the notifiable threshold. Old Mutual Global took its holding to 5.2% from an unspecified amount. Old Mutual Global now has an interest in 6.2 million of Helical's 118.6 million issued shares.
Helical shares closed down 0.7% at 336.50p each.
Quilter took its holding in emergency repairs business Homeserve PLC from 6.1% to below the notifiable threshold. But Old Mutual Global built a 6.0% stake in the company. Old Mutual Global now has an interest in 19.5 million of Homeserve's 329.8 million issued shares.
Homeserve shares closed down 0.8% at 892.00p each.
In March 2016, Old Mutual's Chief Executive Bruce Hemphill said a review had begun into splitting up the Anglo-South African financial services firm in November of the year before when he took over from former Old Mutual boss Julian Roberts.
He said at the time there was "very little commonality" between the four divisions, which then comprised of a 54% stake in South African lender Nedbank, a South African emerging markets business, UK-focused wealth arm Quilter, and a 66% stake in US institutional asset manager OM Asset Management.
By mid-August of 2016, Old Mutual said it was making good progress with the separation, targeting the end of 2018 for completion.
In October, it gave more details of the separation. Unlisted Old Mutual Wealth, now Quilter, and Old Mutual Emerging Markets, which would be known as Old Mutual Ltd, were to be separated into individual listed firms on both the Johannesburg and London exchanges.
The Quilter listing was announced that November, and in mid-March this year when Old Mutual released its results for 2017 it said things were still on track to be completed by the end of 2018.
Related Shares:
FevertreeHelical BarAscentialHSV.LPets at homeBoohooQuilter