Ninety One Limited and Ninety One plc are two interconnected entities forming a dual listed company structure. This arrangement allows them to trade securities on both the London Stock Exchange (LSE) and the Johannesburg Stock Exchange (JSE), offering investors opportunities across different markets. Let’s delve into the specifics of these companies and their recent dealings in securities.
Employee Benefit Trust and Securities Acquisition
As part of their corporate structure, Ninety One plc operates an Employee Benefit Trust known as the Ninety One Guernsey Employee Benefit Trust. This trust recently engaged in an on-market acquisition of 360,693 ordinary shares of Ninety One plc, totaling £609,213. The transaction occurred on 3 May 2024 in London, with clearance obtained for the purchase.
Transaction Details
Here’s a breakdown of the transaction involving the Employee Benefit Trust:
| Description of Transaction | Details |
|---|---|
| Financial Instrument | Ordinary shares of £0.0001 each (ISIN GB00BJHPLV88) |
| Nature of Transaction | On-market acquisition |
| Number of Securities | 360,693 shares |
| Volume Weighted Average Price | £1.689008 |
| Highest Traded Price | £1.6985 |
| Lowest Traded Price | £1.664 |
| Total Value of Transaction | £609,213 |
| Date of Transaction | 3 May 2024 |
| Place of Transaction | London |
Analysis and Implications
This acquisition by the Employee Benefit Trust reflects confidence in Ninety One plc’s performance and future prospects. The purchase of a significant number of shares at market prices indicates a belief in the company’s long-term value and growth potential. It also aligns with the trust’s objectives of benefiting employees and stakeholders through share ownership.
Dual Listing Advantages
The dual listing of Ninety One Limited and Ninety One plc offers several advantages to investors and the companies themselves. It provides access to a broader investor base, enhances liquidity, and increases visibility in different markets. For investors, it offers diversification opportunities and the ability to trade shares in multiple currencies and time zones.
Conclusion
Ninety One Limited and Ninety One plc’s dual listed structure, coupled with the recent acquisition of shares by their Employee Benefit Trust, demonstrates a strategic approach to capital markets and investor relations. The transaction reflects confidence in the companies’ performance and underscores their commitment to creating value for shareholders. As they continue to navigate the dynamic landscape of finance and business, their dual listing status positions them well for future growth and opportunities.
