Attached files
file | filename |
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8-K - FORM 8-K - GLG Partners, Inc. | y87205e8vk.htm |
EX-4.1 - EX-4.1 - GLG Partners, Inc. | y87205exv4w1.htm |
EX-3.1 - EX-3.1 - GLG Partners, Inc. | y87205exv3w1.htm |
EX-3.2 - EX-3.2 - GLG Partners, Inc. | y87205exv3w2.htm |
Exhibit 99.1
Press Release |
14 October 2010
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 such jurisdiction.
Completion of Acquisition of GLG Partners, Inc.
Man Group plc (Man) and GLG Partners, Inc. (GLG) are pleased to announce that the
recommended acquisition of GLG by Man has been completed today, to create a multi-style,
performance-focused alternative asset manager with funds of around $63 billion under
management. GLG is now a wholly owned subsidiary of Man.
Peter Clarke, Chief Executive of Man, said:
The acquisition of GLG is a significant milestone in Mans development as a global leader in
alternative asset management. The combined firm will have expertise in a wide range of investment
styles including managed futures, equity, credit, emerging markets, global macro and
multi-manager. Our unrelenting focus on delivering investment performance is allied to powerful
product structuring, distribution and client service capabilities. Thanks to the swift and
extensive progress we have made on integration planning, we are one business as of today. We look
forward to introducing GLGs exceptional investment management capabilities to a broader global
market, and intend to make a fast start as a fully integrated business to harness cost and
revenue synergies.
An
aggregate of 162,732,446 new Man shares have been issued in connection with the
Acquisition to the GLG Exchange Stockholders (being Noam Gottesman, Pierre Lagrange and Emmanuel
Roman, together with their related trusts and affiliates, and the Remainder Trusts that hold shares
of GLG Common Stock transferred to them by limited partnerships whose members are individual
participants in the GLG equity share plans). The new Man shares issued to Noam Gottesman, Pierre
Lagrange and Emmanuel Roman and their related trusts and affiliate entities will be subject to the
terms of the share lock-up agreements described in the circular to Man shareholders dated 6 August
2010. As contemplated by the relevant agreement, Noam Gottesman and his related trusts will dispose
of certain of the new Man shares received by them to realise funds to satisfy tax liabilities
incurred in connection with the Acquisition.
Admission to listing on the Official List of the UKLA and to trading of these new Man shares
on the London Stock Exchanges main market for listed securities occurred with effect from 8.00
a.m. today.
For a video interview with Peter Clarke, Chief Executive and Emmanuel Roman, Chief Operating
Officer, please visit www.mangroupplc.com.
Terms defined in the circular to Man Shareholders dated 6 August 2010 have the same meanings when
used in this announcement.
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Enquiries
Miriam McKay
Head of Investor Relations and Financial Communications
+44 (0)20 7144 3809
miriam.mckay@mangroupplc.com
Head of Investor Relations and Financial Communications
+44 (0)20 7144 3809
miriam.mckay@mangroupplc.com
David Waller
Head of Media Relations
+44 (0)7793 903 509
david.waller@mangroupplc.com
Head of Media Relations
+44 (0)7793 903 509
david.waller@mangroupplc.com
Maitland (PR adviser to Man)
George Trefgarne
+44 20 7379 5151
George Trefgarne
+44 20 7379 5151
Perella
Weinberg Partners (lead financial adviser to Man)
Philip Yates
Graham Davidson
Toby Rolls
+44 (0)20 7268 2800
Philip Yates
Graham Davidson
Toby Rolls
+44 (0)20 7268 2800
Merrill Lynch International (financial adviser, sponsor and corporate broker to Man)
Simon Fraser
Matthew Watkins
+44 (0)20 7628 1000
Simon Fraser
Matthew Watkins
+44 (0)20 7628 1000
About Man Group
Man is a world-leading alternative investment management business. It has expertise in a wide
range of liquid investment styles including managed futures, equity, credit, emerging markets,
global macro and multi-manager, combined with powerful product structuring, distribution and
client service capabilities. Man manages around $63 billon.
The original business was founded in 1783. Today, Man Group plc is listed on the London Stock
Exchange and is a member of the FTSE 100 Index with a market capitalisation of around £4 billion.
Man Group is a member of the Dow Jones Sustainability World Index and the FTSE4Good Index. Man
also supports many awards, charities and initiatives around the world, including sponsorship of
the Man Booker literary prizes. Further information can be found at www.mangroupplc.com.
Important information
Perella Weinberg Partners, which is authorised and regulated in the United Kingdom by the FSA, is
acting as financial adviser to Man and no-one else in connection with the matters set out in this
announcement. Apart from the responsibilities and liabilities, if any, which may be imposed on
Perella Weinberg Partners by FSMA or the regulatory regimes established thereunder, Perella
Weinberg Partners accepts no responsibility to any person other than Man for providing the
protections afforded to clients of Perella Weinberg Partners, nor for providing advice in relation
to any matter referred to herein.
Merrill Lynch International, which is authorised and regulated in the United Kingdom by the
FSA, is acting as financial adviser and sponsor to Man and no-one else in connection with the
matters set out in this announcement. Apart from the responsibilities and liabilities, if any,
which may be
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imposed on Merrill Lynch International by FSMA or the regulatory regimes established
thereunder, Merrill Lynch International accepts no responsibility to any person other than Man
for providing the protections afforded to customers of Merrill Lynch International nor for
providing advice in relation to any matter referred to herein.
This announcement is not intended to, and does not constitute, or form part of, an offer to sell or
an invitation to purchase or subscribe for any securities or a solicitation of any vote or approval
in any jurisdiction. Shareholders of Man and stockholders of GLG are advised to read carefully the
formal documentation in relation to the Acquisition.
The new Man shares issued in connection with the Acquisition to certain holders of GLG Common
Stock may not be offered, sold, or, delivered, directly or indirectly, in, into or from the United
States absent registration under the US Securities Act or an applicable exemption from
registration.
The release, publication or distribution of this announcement in jurisdictions other than
the United Kingdom may be restricted by law and therefore any persons who are subject to the
laws of any jurisdiction other than the United Kingdom should inform themselves about, and
observe, any applicable requirements. This announcement has been prepared for the purposes of
complying with English law and the information disclosed may not be the same as that which would
have been disclosed if this announcement had been prepared in accordance with the laws and
regulations of any jurisdiction outside of England. The content of the website referred to in this announcement is not incorporated into and
does not form part of this announcement.
Forward-looking statements
Certain statements in this announcement are forward-looking statements. By their nature,
forward-looking statements involve a number of risks, uncertainties or assumptions that could
cause actual results or events to differ materially from those expressed or implied by the
forward-looking statements. These risks, uncertainties or assumptions could adversely affect the
outcome and financial effects of the plans and events described herein. Forward-looking statements
contained in this announcement regarding past trends or activities should not be taken as a
representation that such trends or activities will continue in the future. Undue reliance should
not be placed on forward-looking statements, which speak only as of the date of this announcement.
Except as required by law or regulation, Man is not under an obligation to update or keep current
the forward-looking statements contained in this announcement or to correct any inaccuracies which
may become apparent in such forward-looking statements.
ENDS
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