|Shareholder||% of issued Ordinary
|Lombard Odier Investment Mgt||19.13
|Schroder Investment Mgt||16.68|
|Frenkel Topping Group Plc||6.11|
|Hargreaves Lansdown Asset Mgt||3.69
The significant shareholder information shown above is valid as at 31st March 2021.
As at 31st March 2021, NAHL Group PLC has in issue 46,240,222 ordinary shares. No shares are held in treasury. In so far as NAHL is aware, the percentage of shares not in public hands is 49.23%.
The Group consists of several regulated entities, including a number of law firms licenced and regulated by the Solicitors Regulation Authority (the “SRA”). Under the Legal Services Act 2007, there are rules as to the holding of restricted interests in licenced law firms. In this context, a restricted interest is 10% or more of the shares of the licensed law firm or any of its parent companies, including NAHL Group plc.
The restriction also applies to persons or entities that are able to exercise significant influence over the management of the law firms. These restrictions can apply to fund managers as well as shareholders.
As a result, SRA consent is required should any persons who are non-authorised in the context of the Legal Services Act 2007 seek to acquire a shareholding of 10% or more in NAHL Group plc. It is a criminal offence for any non-authorised person to acquire a material interest in the group without first obtaining prior approval from the SRA .
The SRA also has power to force the divestment of any shareholding which breaches this rule via the courts.
NAHL has significant experience of supporting investors in obtaining required regulatory approvals.