Back to news 1 August 2019

Announcement from the Trustees of RPF and SPS to the Scheme members

You may be aware that a proposed acquisition of Refinitiv Holdings Limited (“Refinitiv”) by London Stock Exchange Group (“LSEG”) (the “Transaction”) was announced today, 1 August 2019. Refinitiv is the parent company of Refinitiv Limited, (previously called Reuters Limited), the sponsoring employer of RPF and SPS (the “Schemes”). 

Your Trustees are engaging with Refinitiv, and will be working with their advisers, in order to determine the potential impact of the proposed Transaction on the Schemes and their members.

Our primary duty as trustees is to safeguard the benefits which have already been earned by members and which we currently administer. This involves working to ensure that the Schemes are sufficiently funded, taking into account the strength of the underlying covenant support provided to them.

Consistent with the approach taken on previous corporate transactions, if the Trustees consider the proposed Transaction negatively impacts the security of member benefits, they will ensure it is mitigated as much as possible.

The Trustees would like to reassure members that the Transaction is being treated with the utmost importance, and we are hopeful that an equitable outcome for the Schemes will be achieved that appropriately protects member benefits for the long-term. 

We will advise you of progress with our discussions as and when appropriate to do so.

Greg Meekings

Chairman, RPF and SPS