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Friends shareholders to decide on Resolution share offer

Friends Provident shareholders are yet to decide whether to accept the cash offer for their first 2,500 shares or to elect to receive Resolution shares instead.

Following the vote in favour of the acquisition of Friends by Resolution in August, shareholders are being reminded that they are still to make this cash decision over their shares.

Shareholders who do not choose a preferred option will receive cash for up to their first 2,500 Friends shares at 79.4p for each share. They will then get 0.9 of a Resolution share for each remaining Friends share they own. But shareholders can elect to receive Resolution shares for all of their Friends shares at the 0.9 ratio.

Shareholders have until October 30 to decide.

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