AMP Limited (ASX: AMP) confirms the successful completion of its Share Purchase Plan (“SPP”), following the closing of the offer at 5.00pm (Sydney time) on Thursday 5 September 2019.

This completes the launch of AMP’s capital raising on Thursday 8 August 2019, comprised of a fully underwritten A$650 million institutional placement (“Placement”) and the non-underwritten SPP.

A total of approximately A$134.1 million was raised under the SPP, with 83.8 million new shares (“New Shares”) to be issued to eligible applicants on Friday 13 September 2019, at an issue price of A$1.60 per New Share (“Issue Price”) — the same price paid by institutional investors under the Placement. AMP confirms that all valid applications will be satisfied in full and that there is to be no scale-back applied.

The SPP offer was sent to 713,273 eligible shareholders, with valid applications received from approximately 15,000 shareholders and an average application worth A$10,000.

The SPP and Placement will result in a total of approximately A$784 million raised under the capital raising.

Holding statements will be issued to eligible applicants on Tuesday 17 September 2019.

AMP Chief Executive Francesco De Ferrari said:

“We are pleased with the outcome and significant shareholder support for our Share Purchase Plan. This a clear vote of shareholder confidence in our strategy as we transform AMP into a simpler, higher-growth and higher-return business focused on client needs.

“With funds received from the SPP and our institutional placement, we can begin investing in our strategy immediately whilst ensuring we maintain an unquestionably strong balance sheet.”

Shareholder enquiries:

1300 338 164    (within Australia)
0800 444 152   (within New Zealand)
+61 3 9415 4018 (outside Australia and New Zealand)
Monday to Friday, 8:30am to 5:30pm (Sydney time)

www.ampspp.com.au

IMPORTANT INFORMATION

This announcement is subject to the same “Important Notice” as appears on pages 5 to 8 of AMP’s announcement titled “AMP announces A$650 million capital raising” dated 8 August 2019 with any necessary contextual changes.

The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the U.S. Securities Act.  Accordingly, the securities may not be offered or sold, directly or indirectly, in the United States or to any person that is acting for the account or benefit of a person in the United States, except in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and any other applicable securities laws of any state or other jurisdiction of the United States.