B share scheme and share consolidation calculator
Enter the number of Existing Ordinary Shares you expect to hold at the Record Time, which is expected to be 6pm (UK time) on 13 May 2022, to receive an indication of both your B Share redemption payment and the number of New Ordinary Shares which you could expect to receive following the Share Consolidation.
The values below are based on the expected return per Existing Ordinary Share and the Share Consolidation ratio set out in the Circular. Please note that the calculator tool has been prepared to provide an approximation, the actual outcome may be subject to rounding.
- Before – reflects your current holding of Existing Ordinary Shares in Aviva, prior to the B Share Scheme and Share Consolidation, based on the share price of Aviva Ordinary Shares as at the close of business on 4 April 2022, adjusted in respect of the 2021 Final Dividend.
- After – provides an indication of the combined value of your New Ordinary Shares and the expected B Share redemption payment, based on the expected return per Existing Ordinary Share and the Share Consolidation ratio set out in the Circular.
- Where the Share Consolidation results in a fraction of a share, this will be aggregated and sold in the market. Net proceeds of the sale (after deduction of all expenses and commissions incurred) are expected to be distributed by 31 May 2022. The figure shown above is before deductions.
Please note that the calculator tool has been prepared to provide an approximate indication to you, results may be rounded up or down; and although utmost care has been taken in doing so, Aviva strongly recommends that you do not rely on it solely and Aviva does not guarantee the accuracy or certainty of the calculations.
Notes:
The B Share Scheme and Share Consolidation are subject to shareholder approval at the General Meeting to be held on 9 May 2022 and customary conditions, including no material deterioration in market conditions or the financial position of the Company. Shareholders should refer to the Circular to Shareholders and Notice of General Meeting published on 5 April 2022 (the Circular) for further details.
Subject to shareholder approval, each Shareholder will receive one B Share for each Ordinary Share held by that Shareholder at the Record Time, which is expected to be 6pm (UK time) on 13 May 2022. The Company intends to redeem and then cancel each such B Share shortly following the issue of the B Shares, for an expected redemption value of 101.69 pence per Ordinary Share.
If, at the Record Time, the number of Existing Ordinary Shares in issue multiplied by the expected redemption payment per Ordinary Share stated above would result in a return in excess of £3.75bn, then the redemption amount payable by reference to each Existing Ordinary Share may be subject to a downward adjustment at the discretion of the Directors.
The effect of the Share Consolidation will be that Shareholders on the Company's register of members at the close of business at the Record Time will, following the Share Consolidation, receive: 76 New Ordinary Shares for 100 Existing Ordinary Shares.
The above calculation does not reflect the potential tax implication of the B Share Redemption or Share Consolidation and Shareholders should refer to the Circular and other information provided on www.aviva.com/return-of-capital for further information.
The calculation above is based on the B Share redemption amount and Share Consolidation ratio as outlined in the Circular. This calculation is for illustrative purposes only and may not reflect the actual amount you will receive. This calculation is not, and should not be taken as, legal or financial advice to any person or company and is not a substitute for consulting a qualified professional.
Aviva makes no representations and does not warrant, either expressly or by implication, that the calculation accurately or comprehensively indicates the combined value of your New Ordinary Shares and/or B Share redemption payment.