18 Mar 2006
Prudential plc board statement
The Board of Prudential plc announces that it received a proposal from Aviva plc about a possible combination of the two companies. The Board of Prudential plc, which has taken independent financial advice, does not consider that the proposal is in the best interests of its shareholders and has rejected it.
The Board confirms that it is not in discussions with any party and reaffirms its confidence in Prudential's future as an independent company.
Enquiries
| Prudential plc |
Jon Bunn |
07808 632167 |
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Rebecca Burrows |
07718 637264 |
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| Brunswick |
Mike Smith |
020 7404 5959 |
|
Kate Holgate |
020 7404 5959 |
Note to editors
1. Prudential plc announced its 2005 full year results on 16 March 2006
- Total EEV operating profit from continuing operations of £1,712 million, up 33%
- New business APE of £2,146 million, up 15%; PVNBP of £16.8 billion, up 11%
- New business profit of £867 million, up 15%, with Group margin of 41%
- Total statutory profit from continuing operations of £957 million, up 36%
- EEV shareholders’ funds up 20% to £10.3 billion
- Return on embedded value of 15.7% (2004: 13.4%)
- Total net inflows for funds businesses of £5.2 billion, with external funds under management of £46 billion, up 23%
- Full year dividend of 16.32 pence per share (2004: 15.84 pence per share)
2. Prudential plc is being advised by Goldman Sachs International, Lexicon Partners Limited and UBS Limited in connection with the matters referred to herein
3. Goldman Sachs International and UBS Limited are joint corporate brokers to Prudential plc
Goldman Sachs International, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting exclusively for Prudential and no-one else in connection with the matters referred to herein and is not advising any other person and accordingly will not be responsible to any person other than Prudential for providing the protections afforded to clients of Goldman Sachs International or for providing advice in relation to such matters.
Lexicon Partners Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting for Prudential only in connection with the matters referred to herein and no-one else and will not regard any other person as its client or be responsible to any person other than Prudential for providing the protections afforded to clients of Lexicon Partners Limited nor for providing advice in relation to such matters.
UBS Limited is acting for Prudential only in connection with the matters referred to herein and no-one else and will not regard any other person as its client or be responsible to any person other than Prudential for providing the protections afforded to clients of UBS Limited nor for providing advice in relation to such matters.
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