In January 2008, Invesco Pensions Limited (Invesco) and Threadneedle Pensions Limited (Threadneedle) signed a Transfer Agreement to transfer, subject to regulatory approval, all of Invesco’s full service defined contribution pension business and a small number of investment-only policies to Threadneedle. The Transfer will be carried out under the statutory process available under Part VII of the Financial Services and Markets Act 2000 for the transfer of insurance businesses. The Transfer is subject to the approval of the High Court of Justice in London. The Court hearing at which the Transfer will be considered will be held on 17 October 2008. Subject to the Court's approval, the Transfer is expected to become effective on 31 October 2008. |