HGG archive: Sale of small holdings


On 14 March 2012 Henderson Group plc (Henderson Group) offered a free share sale facility (Facility) to eligible shareholders with shares valued at less than A$500 or the equivalent (called an unmarketable parcel).

Due to the proportionately higher brokerage costs that may otherwise be faced in selling the shares and the expense to Henderson Group of administering small shareholdings, we took the opportunity to encourage eligible shareholders to sell their existing shareholding through the Facility.

Eligible shareholders were identified based on shareholdings at close of business on 9 March 2012. The share price used to determine whether holdings qualified as an unmarketable parcel was the closing price of Henderson Group CHESS Depositary Interests (CDIs) on the ASX on 9 March 2012 of A$1.75 per share. The closing price of Henderson Group ordinary shares on the LSE on 9 March 2012 was 115.80 pence per share.

Following expiry of the notice period, 2,173,732 shares were sold under the Facility on behalf of 17,320 participating shareholders. The average price obtained was 121.1099 pence per share.

Holders of CDIs listed on the ASX received payment in Australian or New Zealand dollars, according to the holder's previous instructions, at A$1.883743 or NZ$2.390121 per share respectively.

Payments to participating shareholders were despatched on 11 May 2012.

Additional information on the Facility, including contact details for further enquiries can be found in the documents below:

Terms and conditions for CDI holders
Terms and conditions for Ordinary holders
Facility launch stock exchange announcement
Conclusion of facility stock exhange announcement

On 28 May 2012 Henderson Group plc (Henderson Group) offered a share sale facility (Facility) to eligible shareholders with shares valued at less than A$500 or the equivalent (called an unmarketable parcel).

This followed a similar share sale facility, on 14 March 2012 however, in accordance with Article 232, shareholders who were eligible to participate in the previous share sale facility were excluded from participation in the May 2012 Facility.

Henderson Group offered this Facility to assist holders of unmarketable parcels (determined as at 16 May 2012) to sell their shares without having to use a broker or pay brokerage. The Company paid all costs of sale of those shareholders who took advantage of the Facility (although any tax consequences from the sale were the shareholder's responsibility).

Following expiry of the notice period, 16,674,461 shares (representing 1.5% of the Company's issued share capital) were sold under the Facility on behalf of 53,493 participating shareholders. The sale was conducted via a placing to institutional investors. The average price obtained was 95.0482 pence, A$1.4300 or NZ$1.8214 per share.

Payments to participating shareholders are expected to be despatched on or around 25 July 2012.

Additional information on this Facility, including contact details for further enquiries can be found in the documents below:

Facility launch stock exchange announcement
Terms and conditions for CDI holders
Terms and conditions for Ordinary holders
Conclusion of facility stock exchange announcement