Nucleus Takeover Update
In April’s Newsletter we informed you of the proposed takeover of Nucleus by James Hay.
On 5th May 2021, this proposition went to a Nucleus Shareholder vote and 92% of Nucleus Shareholders voted to accept the offer of £1.88 a share.
Richard Rowney, chief executive of James Hay, said: “I’m very pleased that shareholders have overwhelmingly accepted our offer. Shareholder approval is a key milestone in the journey to bring together the respective expertise of Nucleus and James Hay.
We are excited by the prospect of working with the Nucleus team as we seek to create a leading independent adviser platform with circa £45bn of assets under administration, and the scale to invest in the technology, products and service for the benefit of advisers and their clients.”
The next step is to obtain regulatory approval, which is expected later in the year. As previously mentioned, this does not have any immediate impact on the servicing of your holdings. Your funds are still managed by the chosen Discretionary Fund Managers and will continue to be so. Nucleus is a platform that we use to facilitate your transactions.
We will continue to monitor the progress of the sale and we will update you with any relevant information.