Pendal Group announces that Perpetual’s takeover of Pendal became legally effective

Pendal Group Limited (ASX: PDL) announced that it had submitted an official copy of the orders prepared by the Supreme Court of New South Wales permitting the planned acquisition of Pendal by Perpetual Limited through a Scheme of Arrangement, with the Australian Securities and Investments Commission.

The company said that it is anticipating that execution of the Scheme will take place on 23 January 2023. At that time, Pendal shareholders, who owned shares at 7.00 pm (AEDT) on 16 January 2023, will get the consideration mix for shares held by them. This includes a total of AU$1.65 cash per Pendal share owned, less the Permitted Dividend Amount of 3.5 cents per share which was paid to Pendal shareholders on 15 December 2022, and 1 Perpetual share for every 7 Pendal shares.

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