Fidelity European adds ex-Henderson directors to board post-merger
Fidelity European Trust PLC on Monday said it has appointed two new non-executive directors, Vicky Hastings and Rutger Koopmans, effective September Monday.
Hastings most recently served as non-executive chair of Henderson European Trust PLC, which last week completed its merger with Fidelity European.
On Friday, Fidelity European confirmed it was acquiring £462.7 million in net assets from Henderson European following shareholder approval of the combination.
Both companies were FTSE 250-listed investors in European equities, managed respectively by Bermuda-based Fidelity International Ltd and London-based Janus Henderson Group PLC.
The merger was structured as a voluntary wind-up of Henderson European, with part of its assets transferred to Fidelity European. In exchange, Fidelity European is issuing 111.9 million new shares to Henderson European shareholders, unless they opt for a limited cash alternative capped at one-third of shares.
The number of shares issued was calculated on a formula asset value-for-asset value basis, equating to 0.510196 of a new Fidelity European share for every Henderson European rollover share.
Shares in Fidelity European Trust were up 0.5% at 408.63 pence on Monday morning.
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