3rd Dec 2007 17:08
Man Group plc03 December 2007 RETURN OF CASH - SETTING OF STERLING EQUIVALENT AND REDEMPTION OF B SHARES Return of Cash - Update Man Group plc (the "Company") is pleased to provide an update in respect of theReturn of Cash to Shareholders. Setting of Sterling Equivalent Today, the Sterling Equivalent of the US$1.40 return per Existing Ordinary Sharewas set in respect of C Shares issued under the Dividend Alternative and BShares issued under the Immediate Capital Alternative. The exchange rate at which sterling has been purchased with US$ for spot valueapplicable to the Dividend Alternative and the Immediate Capital Alternative is£/US$2.0649. This exchange rate is the WM/Reuters mid spot £/US$ exchange rateat today's 11 a.m. (London time) fixing. Consequently, Shareholders will receive67.7999 pence in cash for each B Share and/or C Share that they hold as issuedunder the Dividend Alternative and/or the Immediate Capital Alternative. The proceeds under the Dividend Alternative and the Immediate CapitalAlternative are expected to be sent to Shareholders by 10 December 2007. Redemption of B Shares under Immediate Capital Alternative Today, the Company redeemed 868,609,694 B Shares (being those B Shares issuedpursuant to the Immediate Capital Alternative) for US$1.40 per B Share. TheSterling Equivalent of the redemption proceeds, being 67.7999 pence per B Shareand £588,916,503.92 in aggregate, is expected to be sent to Shareholders by 10December 2007. Following this redemption, 47,689,017 B Shares issued under the Deferred CapitalAlternative remain in issue. Single Dividend Today, being the First Effective Date, the Single Dividend has become payable onthe C Shares and consequently the C Shares issued under the Dividend Alternativehave automatically reclassified as Deferred Shares. An expected timetable of key outstanding events in relation to the Return ofCash is set out as the Appendix to this announcement. Defined terms in this announcement bear the meanings as set out in the circularto Shareholders dated 22 October 2007 unless stated otherwise. Merrill Lynch International, which is authorised and regulated by the FinancialServices Authority, is acting exclusively for Man Group plc and no one else inconnection with the proposed Return of Cash and will not be responsible toanyone other than Man Group plc for providing the protections afforded toclients of Merrill Lynch International or for providing advice in relation tothe Return of Cash. Enquiries:Man Group plc 020 7144 1000Peter ClarkeDavid Browne Merlin 020 7653 6620Paul Downes 07900 244888Lachlan Johnston 07989 304356 About Man Group plc Man Group plc is a leading global provider of alternative investment productsand solutions for private and institutional investors worldwide, designed todeliver absolute returns with a low correlation to equity and bond marketbenchmarks. Man has a twenty-year track record in this field supported by strongproduct development and structuring skills, and an extensive investor serviceand global distribution network. The Group employs 1,600 people in 13 countries, with key centres in London andPfaffikon (Switzerland), and offices in Chicago, Dubai, Hong Kong, Montevideo,Nassau, New York, Singapore, Sydney, Tokyo and Toronto. Man Group plc is listedon the London Stock Exchange (EMG) and is a constituent of the FTSE 100 Index.Further information on the Man Group can be found at www.mangroupplc.com andwww.maninvestments.com. APPENDIX EXPECTED TIMETABLE OF KEY OUTSTANDING EVENTS Despatch of share certificates in respect of New Ordinary Shares By 6 Decemberand B Shares issued under the Deferred Capital Alternative and 2007despatch of cheques and CREST accounts credited in respect offractional entitlementsDespatch of cheques or payment by BACS to mandated accounts in By 10 Decemberrespect of the Dividend Alternative 2007Despatch of cheques and CREST accounts credited in respect of By 10 Decemberthe Immediate Capital Alternative 2007Redemption of B Shares under the Deferred Capital Alternative Between 1 Julyexpected to take place 2008 and 7 July 2008 Note: References to times in this announcement are to London times. If any ofthe above times or dates should change, the revised times and/or dates will benotified to Shareholders by an announcement on a Regulatory Information Service. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Man