Rathbone Brothers Termination Of Merger Talks

 
TIDMRAT 
 
 
   THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND 
IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, 
DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, 
CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER 
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD 
CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH 
JURISDICTION. 
 
   THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION. 
 
   For immediate release 
 
   31 August 2017 
 
   Rathbone Brothers Plc ("Rathbones") 
 
   Termination of Merger Talks 
 
   The Board of Rathbones announces that further to the announcement made 
on 21 August 2017, exclusive merger discussions with Smith & Williamson 
have been terminated. 
 
   Following very extensive due diligence and negotiations, we have been 
unable to conclude a transaction that is in the best interests of 
Rathbones shareholders. 
 
   Philip Howell, Chief Executive said: 
 
   "We continue to believe that our proposition was both a compelling 
strategic and value creation opportunity for all Smith & Williamson's 
stakeholders. The potential combination was intended to accelerate 
Rathbones' existing strategy, but ultimately we were unable to agree 
terms that offered our shareholders an appropriate balance of risk and 
reward. Rathbones remains confident in its strategy and will continue to 
look for growth opportunities in the sector and assess them with 
discipline." 
 
   Rathbones has incurred a non-underlying charge of approximately GBP5 
million in 2017 for expenses associated with the prospective transaction, 
of which GBP1.8 million was reported within other expenses in our 
interim statement for the six months ended 30 June 2017. 
 
   The person responsible for arranging this announcement on behalf of 
Rathbones is Ali Johnson, Company Secretary. 
 
   For further information contact: 
 
 
 
 
Rathbone Brothers Plc 
 Philip Howell, Chief Executive 
 Paul Stockton, Finance Director     +44 (0) 20 7399 0000 
Camarco (Communications Adviser) 
 Ed Gascoigne-Pees                   +44 (0) 20 3757 4984 
 Hazel Stevenson                     +44 (0) 20 3757 4989 
 
 
 
 
   The release, publication or distribution of this announcement in 
jurisdictions outside the United Kingdom may be restricted by law and 
therefore persons into whose possession this announcement comes should 
inform themselves about, and observe such restrictions.  Any failure to 
comply with such restrictions may constitute a violation of the 
securities law of any such jurisdiction. 
 
   This announcement is not intended to, and does not, constitute, 
represent or form part of any offer, invitation or solicitation of an 
offer to purchase, otherwise acquire, subscribe for, sell or otherwise 
dispose of, any securities whether pursuant to this announcement or 
otherwise. 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Rathbone Brothers Plc via Globenewswire 
 
 
  http://www.rathbones.com/

(END) Dow Jones Newswires

August 31, 2017 13:26 ET (17:26 GMT)

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