Further to the announcement on 18 October 2017, the Board of the Company is pleased to announce that on 14 November 2017, the Company successfully completed the acquisition of a 50% stake in RiskCo Group BV.
RiskCo also completed the transfer of Aon Hewitt Netherland’s pension administration customers. Aon Hewitt will continue to maintain its customer relationship with the pension funds and will continue to provide many other services to these customers.
As part of this transaction, the PraxisIFM Group Limited Employee Benefit Trust (“EBT”) has transferred part of its interest to a corporate vehicle (DPV Limited) that it controls. The EBT’s beneficial interest in the Company’s shares is currently 5,385,189 Ordinary Shares.
Dr Simon Thornton, Group Chief Executive Officer, said:
“I am delighted the RiskCo transaction has completed and we look forward to working with Aon Hewitt. The technology of RiskCo is state of the art, and together with Aon, we can offer pension schemes robust solutions to meet the challenges they face. We expect to realise our growth potential both in the Netherlands and internationally in the collaboration with Aon Hewitt.”