TIDMIGG
RNS Number : 3132D
IG Group Holdings plc
28 June 2021
IG Group Holdings
LEI No: 2138003A5Q1M7ANOUD76
28 June 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, IN, INTO, OR FROM ANY JURISDICTION WHERE TO DO SO WOULD
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT
JURISDICTION
FOR IMMEDIATE RELEASE
Completion of Acquisition of tastytrade, Inc by IG Group
Holdings plc
and Issuance of New Shares
IG Group Holdings plc ("IG", "the Company"), a global leader in
online trading, confirms the completion of its acquisition (the
"Transaction") of tastytrade, Inc ("tastytrade") an online
brokerage and investor education platform with a leading position
in the U.S. listed options and futures market, effective 28 June
2021.
June Felix, Chief Executive Officer, IG Group:
"This transaction marks another important milestone in the
delivery of IG's growth strategy, diversifying our product offering
and significantly strengthening our global franchise.
I am thrilled to welcome tastytrade to the IG family. tastytrade
is an innovative, high growth, high margin business giving us
immediate scale in the largest retail options and futures market in
the world. tastytrade will significantly enhance our client
proposition, broadening choice and opportunity while providing
products, tools and educational resources to empower financial
decision making."
Issuance of shares
The Company has received all the necessary regulatory and
anti-trust approvals and satisfied all necessary pre-conditions to
complete its acquisition of tastytrade, Inc. The total
consideration comprises $300 million in cash and the issuance of
61,000,000 new ordinary shares in the Company (the "Consideration
Shares") to tastytrade shareholders.
Application has been made for the admission of the Consideration
Shares, which will rank pari passu in all respects with the
Company's existing ordinary shares in issue, to the premium listing
segment of the Official List of the Financial Conduct Authority and
to trading on the main market for listed securities of the London
Stock Exchange ("Admission"). Admission is expected to become
effective and unconditional at 8am, 29 June 2021 with dealings in
the Consideration Shares expected to commence on the same day.
Subject to Admission, the total number of ordinary shares of
0.005p each with voting rights in issue will be 431,299,455.
The intended acquisition of tastytrade was previously announced
on 21 January 2021.
IG's next scheduled market announcement will be its full year
FY21 results on 22 July 2021.
For queries, please contact:
IG Group Investors IG Group Press FTI Consulting
Liz Scorer Ramon Kaur Neil Doyle / Ed Berry
020 7573 0727 020 7573 0060 020 3727 1141 / 1046
investors@ig.com press@ig.com
Forward-looking statements
This announcement, prepared by the Company, may contain
forward-looking statements about the Company and its subsidiaries
(the "Group"). Such forward-looking statements can be identified by
the use of forward-looking terminology, including the terms
"believes", "projects", "estimates", "plans", "anticipates",
"targets", "aims", "continues", "expects", "intends", "hopes",
"may", "will", "would", "could" or "should" or, in each case, their
negative or other various or comparable terminology.
Forward-looking statements involve known and unknown risks,
uncertainties, assumptions and other factors which are beyond the
Company's control and are based on the Company's beliefs and
expectations about future events as of the date the statements are
made. If the assumptions on which the Group bases its
forward-looking statements change, actual results may differ from
those expressed in such statements. There are a number of factors
that could cause actual results and developments to differ
materially from those expressed or implied by these forward-looking
statements, including those set out under "Principal Risks" in the
FY20 Group Annual Report for the financial year ended 31 May 2020.
The Annual Report can be found on the Company's website
(www.iggroup.com).
Forward-looking statements speak only as of the date they are
made. Except as required by applicable law and regulation, the
Company undertakes no obligation to update these forward-looking
statements.
No offer or solicitation
This announcement is not intended to, and does not constitute,
or form part of, any offer to sell or an invitation to purchase or
subscribe for any securities or a solicitation of any vote or
approval in any jurisdiction.
No profit forecasts or estimates
No statement in this announcement is intended as a profit
forecast or estimate for any period
About IG
IG empowers informed, self-directed, ambitious people to access
opportunities in over 17,000 financial markets. With a strong focus
on innovation and technology, the Company puts client needs at the
heart of everything it does.
IG's vision is to provide the world's best trading experience.
Established in 1974 as one of the world's first providers of
financial derivatives to retail traders, it continued leading the
way by launching the world's first online and iPhone trading
services.
IG is an award-winning, multi-product trading company which
allows retail, professional and institutional clients to trade 24
hours a day, 7 days a week ([1]) . IG is the world's No.1 provider
of CFDs ([2]) and a global leader in forex derivatives. It provides
leveraged services with the option of limited-risk guarantees and
offers an execution-only stock trading service in the UK and
Australia. IG has a range of affordable, fully managed investment
portfolios, which provide a comprehensive offering to investors and
active traders.
IG is a member of the FTSE 250, with offices across Europe,
including a Swiss bank, Africa, Asia-Pacific, the Middle East and
North America. IG Group Holdings plc holds a long-term investment
grade credit rating of BBB- with a stable outlook from Fitch
Ratings.
[1] Excluding 10pm Friday (GMT) to 8am Saturday (GMT)
[2] Based on revenue excluding FX (from published financial statements, June 2020)
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END
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