Home Listing rules QUILTER PLC – Update of the share buyback program – SENS

QUILTER PLC – Update of the share buyback program – SENS




Share Buyback Programme Update

Incorporated under the Companies Act 1985 with registered number 06404270 and re-
registered as a public limited company under the Companies Act 2006)
Quilter plc (the ‘Company’)

13 December 2021

Quilter plc

Share Buyback Programme Update

In connection with the capital return of up to £375 million announced on 2 January 2020, Quilter
plc (the Company) initiated a share buyback programme (the Programme) on 11 March 2020 to
purchase shares with a value of up to £375 million in order to reduce the share capital of the
Company, subject to remaining within certain pre-set parameters. As previously indicated, the
Programme has been subject to staged regulatory approval and the Board has kept the
Programme under review to ensure it remains the most efficient and effective means of returning
capital to shareholders.

Repurchases to date total £325 million of which £183 million were conducted on the London Stock
Exchange and £142 million were conducted on the Johannesburg Stock Exchange. To date, 230.1
million Quilter shares have been acquired, and cancelled, at an average price of 141.2 pence.

Following the previously announced Prudential Regulation Authority approval for a fourth tranche
of repurchases of up to £100 million, and the completion of the Tranche 4a programme
(announced on 13 September 2021), the Company has entered into various agreements with
Goldman Sachs International (GSI) under which it has issued an irrevocable instruction for GSI to
manage the final tranche of the Programme of up to £50 million (“Tranche 4b”).

Company shares will be purchased on European trading venues including the London Stock
Exchange and on the Johannesburg Stock Exchange. The minimum purchase on each exchange
will be £10 million. GSI will carry out the instruction during the period starting on 13 December
2021 and ending no later than 7 March 2022 (the Purchase Period) for the acquisition of ordinary
shares in the Company for subsequent repurchase by the Company. The maximum consideration
payable by the Company under Tranche 4b of the Programme is approximately up to £50 million
in aggregate. This is the final tranche of the share buyback programme announced in January

Any Company shares repurchased on such European trading venues under Tranche 4b of the
Programme will be effected in accordance with Chapter 12 of the Listing Rules of the Financial
Conduct Authority, the Market Abuse Regulation 596/2014 (as incorporated into UK domestic law
by the European Union (Withdrawal) Act 2018) and the Company’s authorities to repurchase
Company shares. Any Company shares repurchased on the Johannesburg Stock Exchange under
Tranche 4b of the Programme will be effected in accordance with the Company’s authorities to
repurchase shares. The repurchase of Company shares may be discontinued in the event the
Company ceases to have the necessary authorities to repurchase ordinary shares.
The Company will cancel the repurchased Company shares.

GSI and/or its affiliates may undertake transactions in Company shares (which may include sales
and hedging activities, in addition to purchases which may take place on any available trading
venue or on an over the counter basis) during the Purchase Period in order to manage its market
exposure under the Programme. Disclosure of such transactions will not be made by GSI and/or
its affiliates as a result of or as part of the Programme, but GSI and/or its affiliates will continue to
make any disclosures it is otherwise legally required to make. GSI may effect purchases of
Company shares on the Johannesburg Stock Exchange through one or more of its affiliates or any
broker-dealer authorised to trade on the Johannesburg Stock Exchange.


Investor Relations:

John-Paul Crutchley +44 (0)77 4138 5251

Keilah Codd +44 (0)77 7664 9681


Tim Skelton-Smith +44 (0)78 2414 5076

Company Secretary:

Patrick Gonsalves +44 (0)20 7778 9670

JSE Sponsor: J.P. Morgan Equities South Africa Proprietary Limited

About Quilter plc
Quilter plc is a leading wealth management business in the UK and internationally, helping to
create prosperity for the generations of today and tomorrow. Quilter plc oversees £108.5 billion
in customer investments (as at 30 September 2021, continuing business basis).

It has an adviser and customer offering spanning: financial advice, investment platforms, multi-
asset investment solutions, and discretionary fund management.

The business is being reorganised into two segments: Affluent and High Net Worth.

Affluent encompasses the financial planning businesses, Quilter Financial Planning, the Quilter
Investment Platform and Quilter Investors, the Multi-asset investment solutions business.

High Net Worth includes the discretionary fund management business, Quilter Cheviot, together
with Quilter Private Client Advisers.

Date: 13-12-2021 09:00:00
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