RSA Insurance Group wants to repurchase up to 100% of their 7 3/8% Cumulative Preference shares by way of a tender offer at a price of GBP1.22 per share. If you don’t want to sell any shares, you don’t need to do anything.

At the same time, the company is seeking shareholder approval to cancel the 7 3/8% Cumulative Preference shares not submitted in acceptance of the tender offer and return cash to shareholders by way of a return of capital. This proposal is subject to shareholder approval at a meeting to be held on 16 July 2024, and if approved all 7 3/8% Cumulative Preference shares will be redeemed at the tender offer price.

You have 2 options

Option 1 – Tender your shares and approve the changes. You can ask to sell some or all of your shares in the offer.

Any accrued dividend amount up until the redemption date will also be paid on successfully tendered shares. If you tender your shares, you are automatically counted as voting in favour of the resolution and you will receive a voting fee of 2p per share tendered, if the proposal is approved.

Option 2 – Don’t tender your shares but vote on the changes. You can vote for or against the proposal but keep all your shares. If you do this and the proposal is approved, you’ll receive a voting fee of 2p per share.

If you don’t wish to sell your shares in the offer, or vote on the resolution, you don’t need to do anything. Depending on the outcome of the meeting, your shares may be compulsorily redeemed by the company.

To give an instruction, please select the option you require below before noon on Tuesday 9 July 2024

Full details of this event will be sent to qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.