Nucleus: Rights issue will not alter ownership

Ferguson revealed the IFA-owned wrap has previously explored different ownership models but says its ownership will remain unchanged after its £15m rights issue, with Sanlam UK still holding a 42% stake in the business. "There was a point when we explored different ownership models and pretty much took a blank sheet of paper approach," he says. "But the outcome we decided upon will be the same as it is now and after the rights issue our ownership will be exactly the same." The rights issue, undertaken to refinance debt accumulated at start-up, is being financed by existing shareholder...