REG - Standard Life Aberdn - Sale of Shares in HDFC Life by SLMH06

AberdeenAnnouncement

30/10/2019 07:05

RNS Number : 5910R
Standard Life Aberdeen plc
30 October 2019
 


 
Standard Life Aberdeen plc ("the Company")
 
 
Sale of shares in HDFC Life Insurance Company Limited ("HDFC Life") by Standard Life (Mauritius Holdings) 2006 Limited ("SLMH06")
 
The Company notes that on Wednesday 30 October 2019, SLMH06, a wholly owned subsidiary of the Company, sold 100,000,0001 shares in HDFC Life (the "Shares") on the National Stock Exchange of India Limited and the Bombay Stock Exchange Limited.
 
The Shares were sold at an average price of Rs 575.151 which will result in SLMH06 receiving approximately Rs 57.0bn (£622m2), net of taxes and expenses, from the sale.
 
The Shares sold constituted 4.96% of the paid-up, issued equity share capital of HDFC Life and SLMH06's remaining shareholding in HDFC Life is now 14.74%, based on the paid-up, issued equity share capital.  Based on the current share price of Rs 629.703, the value of this remaining shareholding would be approximately Rs 187bn (£2.0bn2). 
 
 
30 October 2019
 
 
1 Based on current trade data available, final contract amounts and price will be confirmed by the stock exchanges after market close on 30 October 2019
2 Based on INR|GBP exchange rate of 91.5201
3 Based on HDFC Life share price on the National Stock Exchange of India at 11.07am IST on Wednesday 30 October 2019
 
 
 
Enquiries:
 



Institutional Equity Investors
Neil Longair
 


 
+44 (0) 131 245 6466*
+44 (0) 7711 357 595




Media
James Thorneley 


 
+44 (0) 7768 556 334
 




Group Secretariat
Paul McKenna


 
+44 (0) 131 372 0703*
 



 
* Calls may be monitored and/or recorded to protect both you and us and help with our training. Call charges will vary.
 
LEI: OTMBS544NMO7GLCE7H90
 
 
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