It is also to give the Liontrust Board permission to issue new Liontrust shares in order to carry out the Offer.

More than 80% of the votes opted in favour of each resolution, which was supported by ISS, Glass Lewis, and PIRC, were cast for the measures.

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This is an important new development in the tendering offer procedure.

It shows significant progress in meeting the requirements stipulated in the Liontrust Offer.

Furthermore, with the news that GAM has signed binding agreements with Carne Group to sell its third-party fund management assets.

David Jacob, chairman of GAM Holding AG said: “I am delighted that Liontrust shareholders strongly support the Offer. The GAM Board unanimously recommends the Offer which was made after extensive due diligence by a highly regarded peer with a heritage in fund management. The enlarged business will have a strong balance sheet, a broader array of excellent investment products, a global distribution footprint and the capability to deliver synergies and growth, in which GAM shareholders can participate in the future. The Liontrust Offer is also strongly supported by the senior portfolio managers of GAM, who believe that it is in the best interests of our clients.”

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Present GAM Board of directors and group management board have agreed to offer their shares.

The Offer period began on June 28 and is anticipated to finish on July 25, 2023.

Subject to the fulfilment or waiver of the Offer conditions, the transaction is scheduled to be finalised during the fourth quarter of 2023.

A second trading line for tendered shares will continue to be available for investors to sell their shares on after tendering their shares into the Offer.

Regardless of whether shareholders have or plan to tender their shares into the Offer, their ability to attend and vote at GAM’s extraordinary general meeting, scheduled for August 25, will not be affected.