News: LNK Link Administration Announces Sale Of Fund Solutions, Settlement With FCA

April 20 (Reuters) - Link Administration Holdings Ltd (LNK) :

• LINK GROUP SALE OF FUND SOLUTIONS AND SETTLEMENT WITH FCA
• LINK GROUP SALE OF FUND SOLUTIONS BUSINESS AND SETTLEMENT WITH FCA
• AGGREGATE CONSIDERATION VALUE OF BETWEEN £110 MILLION AND £140 MILLION
• FCA HAS CONFIRMED ITS INTENTION TO SUPPORT SCHEME
• SCHEME WILL PROVIDE THAT PAYMENT OF AMOUNTS TO WEIF INVESTORS
• LINK GROUP HAS AGREED TO CONTRIBUTE TO LFSL ALL OF THE AVAILABLE CONSIDERATION TO BE RECEIVED FROM THE WAYSTONE GROUP
• SALE OF FUND SOLUTIONS BUSINESS IS TARGETED TO COMPLETE BY OCTOBER 2023
• RE-AFFIRMS ITS FY23 GUIDANCE PROVIDED AT 1H FY23 RESULTS WITH EXPECTATIONS OF OPERATING EBIT TO BE UP 10%-12% ON FY22