Liontrust Asset Management PLC

M&A Activity • Aug 8, 2023

National Storage Mechanism | Additional information

RNS Number : 5697I

Liontrust Asset Management PLC

08 August 2023

THIS ANNOUNCEMENT, INCLUDING THE APPENDICES AND THE INFORMATION CONTAINED IN THEM, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION, DISTRIBUTION OR FORWARDING, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.

FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.

LEI: 549300XVXU6S7PLCL855

For immediate release

8 August 2023

Stock Exchange Announcement

LIONTRUST ASSET MANAGEMENT PLC

Update on Proposed Acquisition of GAM Holding AG

Liontrust Asset Management Plc ("Liontrust", or the "Company"), the specialist independent fund management group, today issues an update in relation to its recommended public exchange offer for all publicly held registered shares of GAM Holding AG ("GAM") which was announced on 4 May 2023 (the "Proposed Acquisition").

Liontrust today announces that it has received change in control approval from the UK's Financial Conduct Authority ("FCA") in relation to the Proposed Acquisition and becoming controllers of GAM's UK regulated entities:

1.    GAM Sterling Management Limited;

2.    GAM International Management Limited;

3.    GAM Unit Trust Management Company Limited;

4.    GAM London Limited; and

5.    GAM Systematic LLP.

The approval from the FCA is a major step forward in satisfying the regulatory approval condition of Liontrust's offer for GAM and joins earlier notifications in relation to the Proposed Acquisition of:

1.    No objection from Switzerland's FINMA of the planned changes to the qualified participants of GAM Investment Management (Switzerland) AG, Zurich; and

2.    Approval from the Central Bank of Ireland of the proposed change of ownership of GAM Fund Management Limited.

Applications to the financial regulators in Luxembourg, Italy and Hong Kong are in progress and decisions are expected to be confirmed within the next three months.

Additionally, we note that two of the major proxy agencies, ISS and Glass Lewis, have released their recommendations with respect to GAM's extraordinary general meeting on 18 August 2023. Both have recommended GAM shareholders back management and vote against NewGAMe SA's ("NewGAMe") proposals to remove the existing board, replace them with NewGAMe's slate of directors, issue a dilutive convertible bond and launch a special audit.

For further information please contact:

Teneo (Tel: 020 7353 4200, Email: liontrust@teneo.com)

Tom Murray

Liontrust Asset Management Plc (Tel: 020 7412 1700, Website: liontrust.co.uk)

John Ions: Chief Executive

Vinay Abrol: Chief Financial Officer & Chief Operating Officer

Simon Hildrey: Chief Marketing Officer

David Boyle: Head of Corporate Development

Singer Capital Markets (Tel: 020 7496 3000)

Corporate Broking: Tom Salvesen

Corporate Finance: Justin McKeegan

Panmure Gordon (Tel: 020 7886 2500)

Corporate Broking: David Watkins

Corporate Advisory: Atholl Tweedie

ENDS

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