M&G Says Exposed To £722 Million In Ground Rent Assets

Jan 27 (Reuters) - M&G PLC MNG.L:

• M&G’S RESPONSE TO LEASEHOLD REFORM BILL

• EXPOSED TO £722 MILLION IN GROUND RENT ASSETS

• SHOULD THE PROPOSED CHANGES BE APPROVED IN THE CURRENT FORM, £230 MILLION ONE-OFF REDUCTION IN SOLVENCY II OWN FUNDS EXPECTED

• RECONFIRM ADJUSTED OPERATING PROFIT GROWTH AND CAPITAL GENERATION TARGETS ANNOUNCED IN MARCH 2025, AND OUR EXISTING PROGRESSIVE DIVIDEND POLICY

• SHAREHOLDER SOLVENCY II COVERAGE RATIO TO REDUCE BY 1 PPT UNDER PROPOSED CHANGES

• ONCE THE PROPOSED CHANGES TAKE EFFECT LIKELY IN 2028, £15 MILLION REDUCTION IN ANNUAL ADJUSTED OPERATING PROFIT EXPECTED