QUILTER PLC - Intention to conduct audit tender

Intention to conduct audit tender

QUILTER PLC
(previously, Old Mutual Wealth Management Limited)
Incorporated under the Companies Act 1985 with registered number
06404270 and re-registered as a public limited company under the
Companies Act 2006)
ISIN CODE: GB00BDCXV269
JSE SHARE CODE: QLT
Quilter plc (the "Company")



12 March 2019

                                         Quilter plc
                             Intention to conduct audit tender

Quilter plc (the “Company”) today announces its intention to conduct an audit tender with a view
to the selected firm auditing the financial statements for the year ending 31 December 2020 (the
“Tender”).


The Tender process will be conducted in compliance with the Financial Reporting Council’s “Audit
Tenders Notes on Best Practice“ and will be overseen by the Board Audit Committee, reporting
to the Board.


KPMG has audited the financial statements of Quilter plc since 2008. The Company, as a newly
standalone, listed company, has not previously put its audit to tender (although Old Mutual plc
last put its audit to tender in 2014 when KPMG were re-appointed). Due to the length of KPMG’s
tenure as auditors of Quilter plc (which includes the years during which the Company was audited
by KPMG as part of the Old Mutual group), the Quilter plc Board and Board Audit Committee have
concluded that KPMG should not be part of the Tender process.


The Request for Proposal for the Tender is expected to be issued in late March 2019, with the
Tender process being conducted during April and May 2019. The final decision is expected to be
announced as soon as possible after it has been agreed, and by no later than the date of release
of Quilter plc’s 2019 Interim Results, expected to be on 7 August 2019.


George Reid, Board Audit Committee Chair, comments:

“It is sensible now that we take this opportunity to assess the external audit support that will be
needed as the business progresses to the next stage of its development, and I look forward to
being part of what we will ensure will be a rigorous, fair and transparent tender process. We will
now engage with investors to understand their views on the Tender process.”
                                               - ends -


Enquiries:


    Investor Relations:
    John-Paul Crutchley                              +44 (0)20 7002 7016

    Keilah Codd                                      +44 (0)20 7002 7054

    Company Secretary:
    Patrick Gonsalves                                +44 (0)20 7778 9670

    Camarco
    Geoffrey Pelham-Lane                             +44 (0)20 3757 4985

    Aprio (South Africa)
    Julian Gwillim                                   +27 (0)11 880 0037


About Quilter plc:

Quilter plc is a leading wealth management business in the UK and internationally, helping to
create prosperity for the generations of today and tomorrow.

Quilter plc oversees £109.3 billion in customer investments (as at 31 December 2018).

It has an adviser and customer offering spanning: financial advice; investment platforms; multi-
asset investment solutions and discretionary fund management.

The business is comprised of two segments: Advice and Wealth Management and Wealth
Platforms.

Advice and Wealth Management encompasses the financial planning network, Intrinsic;
Quilter Private Client Advisers; discretionary fund management business, Quilter Cheviot; and
Quilter Investors, the Multi-asset investment solutions business. Wealth Platforms includes
the Old Mutual Wealth UK Platform; Old Mutual International, including AAM Advisory in
Singapore; and the Old Mutual Wealth Heritage life assurance business.

The Quilter plc businesses are being re-branded to Quilter over a period of approximately two
years:

•   The Multi-asset business is now Quilter Investors
•   Intrinsic to Quilter Financial Planning
•   The private client advisers business is now Quilter Private Client Advisers
•   The UK Platform to Quilter Wealth Solutions
•   The International business to Quilter International
• The Heritage life assurance business to Quilter Life Assurance
• Quilter Cheviot will retain its name.



Sponsor:
J.P. Morgan Equities South Africa Proprietary Limited

Date: 12/03/2019 10:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.