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    AV.   GB0002162385

AVIVA PLC

(AV.)
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UK Watchdog Censures Aviva for Listing, Transparency Rules Breach

10/26/2020 | 06:08am EDT

By Sabela Ojea

The Financial Conduct Authority censured Aviva PLC on Monday for a listing and transparency rules breach, saying that an announcement regarding preference shares posted by the FTSE-100 insurer had the potential to mislead the market.

The U.K. regulator said the announcement Aviva published in March 2018 included comments that gave the impression it was going to take action to cancel at par value certain preference shares.

"At the time, the preference shares were trading above their par value and so the statement caused concern that holders would incur losses on cancellation," the FCA said. It said the market price for Aviva's preference shares fell between 20% and 26% when the market closed.

Shareholders sold preference shares at the above par market price because of those comments, the FCA said. However, Aviva established a payment scheme for the preference shareholders that sold their shares at a lower share price a week later.

Because of these rapid measures, the FCA said it considers that Aviva's breach was serious but not intentional, while ensuring that this lack of clearness could have led to a financial penalty.

Aviva shares at 1044 GMT were up 6.50 pence, or 2.3%, at 284.60 pence.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

10-26-20 0707ET

Stocks mentioned in the article
ChangeLast1st jan.
AVIVA PLC -1.48% 387.3 Delayed Quote.19.10%
FTSE 100 -0.65% 7032.3 Delayed Quote.8.85%
MSCI UNITED KINGDOM (STRD) -1.15% 1146.779 Real-time Quote.12.52%
S&P UNITED KINGDOM (PDS) -0.67% 1400.95 Delayed Quote.9.39%
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Financials
Sales 2021 46 772 M 65 041 M 65 041 M
Net income 2021 2 245 M 3 122 M 3 122 M
Net cash 2021 8 664 M 12 048 M 12 048 M
P/E ratio 2021 6,90x
Yield 2021 5,67%
Capitalization 15 213 M 21 155 M 21 155 M
EV / Sales 2021 0,14x
EV / Sales 2022 0,14x
Nbr of Employees 28 596
Free-Float 97,1%
Chart AVIVA PLC
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Aviva plc Technical Analysis Chart | AV. | GB0002162385 | MarketScreener
Technical analysis trends AVIVA PLC
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Last Close Price 387,30 GBX
Average target price 464,14 GBX
Spread / Average Target 19,8%
EPS Revisions
Managers and Directors
Amanda Blanc Chief Executive Officer & Executive Director
Jason Michael Windsor Chief Financial Officer & Director
Mark George Culmer Non-Executive Chairman
Nitinbhai Babubhai Maganbhai Amin Chief Operating Officer
Michael Mire Independent Non-Executive Director
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