AMVESCAP
TSX : AVZ
NYSE : AVZ
LSE : AVZ

AMVESCAP

October 04, 2005 08:29 ET

AMVESCAP Announces Proposals to Redenominate Share Capital Into U.S. Dollars

LONDON--(CCNMatthews - Oct 4, 2005) -

AMVESCAP PLC (NYSE:AVZ)(LSE:AVZ)(TSX:AVZ) has today dispatched a circular to its shareholders seeking approval to redenominate its share capital from sterling into U.S. dollars. The necessary shareholders meetings will be held on November 1, 2005.

AMVESCAP, as a U.K. public company, has always reported its results in sterling. The majority of the Group's revenues, assets and liabilities are, however, denominated in U.S. dollars. From 2006 (and in respect of the financial year ending December 31, 2005), AMVESCAP intends to present the Group's results in U.S. dollars to mitigate the impact of foreign exchange movements on reported earnings. As part of this process it would be advantageous to redenominate the Company's ordinary share capital into U.S. dollars in order to be consistent with the functional currency of the majority of its main operating subsidiaries.

Under the proposals being put to shareholders:

-- All Shareholders will have the same number of shares after the redenomination as they had before;

-- The AMVESCAP share price will continue to be quoted in sterling;

-- AMVESCAP shares will continue to be traded on the London Stock Exchange;

-- The change will not reduce AMVESCAP's assets, liabilities or overall shareholders' funds;

-- Shareholders' rights to vote will not be affected; and

-- Dividends will continue to be paid in sterling.

A copy of the circular describing these proposals in full can be found on the Company Web site at www.amvescap.com.

AMVESCAP is a leading independent global investment manager, dedicated to helping people worldwide build their financial security. Operating under the AIM, AIM Trimark, INVESCO, INVESCO PERPETUAL and Atlantic Trust brands, AMVESCAP strives to deliver outstanding products and services through a comprehensive array of retail and institutional products for clients around the world. The company is listed on the London, New York and Toronto stock exchanges with the symbol "AVZ."

Additional information is available at www.amvescap.com.

Contact Information

  • AMVESCAP
    Michael Perman, Group Company Secretary and Head of
    Investor Relations
    Phone: + 44 (0) 207 065 3942 (U.K.)
    or
    Doug Kidd, Managing Director, Corporate Communications
    Phone: +1 404 479 2922 (U.S.)