Aberdeen Asset Management PLC ("Aberdeen" or the "Company") is pleased to announce that it has today paid the deferred top-up payment of £38.3 million in cash to Lloyds Banking Group plc in respect of its acquisition of Scottish Widows Investment Partnership Group Limited ("SWIP").
In accordance with the Sale and Purchase Agreement, the deferred top-up payment was due on 31 March 2015, being 12 months following the date of the completion of the acquisition. This payment is based on the difference between Aberdeen's volume weighted average price for the five business days prior to completion and the reference price of 420 pence per share.
The deferred top-up payment was accounted for as a liability on the Company's balance sheet, so there is no impact on regulatory capital.
For further information, please contact:
Maitland + 44 (0) 20 7379 5151
Neil Bennett
Tom Eckersley
You are here: news > regulatory news