Liontrust Asset Management : TR1 Notification of major holdings

TR-1: Standard form for notification of major holdings

NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer andto the FCA in Microsoft

Word format if possible)i

1a. Identity of the issuer or the underlying issuer

of existing shares to which voting rights areLiontrust Asset Management PLC attachedii:

1b. Please indicate if the issuer is a non-UK issuer (please mark with an "X" if appropriate)

Non-UK issuer

2. Reason for the notification (please mark the appropriate box or boxes with an "X")

An acquisition or disposal of voting rights	X
An acquisition or disposal of financial instruments
An event changing the breakdown of voting rights
Other (please specify)iii:

3. Details of person subject to the notification obligationiv

Name	Aggregate of Standard Life Aberdeen plc affiliated
investment management entities with delegated voting
	rights on behalf of multiple managed portfolios
City and country of registered office (if applicable)	Edinburgh, Scotland

4. Full name of shareholder(s) (if different from 3.)v

Name

City and country of registered office (if applicable)

5. Date on which the threshold was crossed or	27/01/2020
reachedvi:
6. Date on which issuer notified (DD/MM/YYYY):	28/01/2020
7. Total positions of person(s) subject to the notification obligation
	% of voting rights	% of voting rights		Total number of
	through financial in-	Total of both in %
	attached to shares	voting rights of
	struments	(8.A + 8.B)
	(total of 8. A)	issuervii
	(total of 8.B 1 + 8.B 2)
Resulting situation
on the date on which	6.86		0.00	6.86	54,753,611
threshold was
crossed or reached
Position of previous
notification (if	5.11		0.00	5.11
applicable)

8. Notified details of the resulting situation on the date on which the threshold was crossed or reachedviii

A: Voting rights attached to shares

Class/type of	Number of voting rightsix	% of voting rights
shares
ISIN code (if possible)	Direct	Indirect	Direct		Indirect
	(Art 9 of Directive	(Art 10 of Directive	(Art 9 of Directive		(Art 10 of Directive
	2004/109/EC) (DTR5.1)	2004/109/EC)	2004/109/EC) (DTR5.1)		2004/109/EC)
		(DTR5.2.1)			(DTR5.2.1)
GB0007388407	N/A	3,758,331	N/A		6.86
SUBTOTAL 8. A	3,758,331	6.86

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC (DTR5.3.1.1 (a))

			Exercise/		Number of voting rights
Type of financial		Expiration		that may be acquired if	% of voting rights
instrument		datex	Conversion Periodxi	the instrument is
					exercised/converted.
			SUBTOTAL 8. B 1
B 2: Financial Instruments with similar economic effect according to Art. 13(1)(b) of Directive
2004/109/EC (DTR5.3.1.1 (b))
Type of financial	Expiration	Exercise/	Physical or	Number of
Conversion	cash		% of voting rights
		x
instrument	date	Period xi	settlementxii	voting rights
				SUBTOTAL
				8.B.2

9. Information in relation to the person subject to the notification obligation (please mark the applicable box with an "X")

Person subject to the notification obligation is not controlled by any natural person or legal entity and does not control any other undertaking(s) holding directly or indirectly an interest in the (underlying) issuerxiii

Fullchain of controlled undertakings through which the voting rights and/or the

financial instruments are effectively held starting with the ultimate controlling natural person or legal entityxiv X (please add additional rows as necessary)

	% of voting	% of voting rights
	rights if it	Total of both if it
	through financial in-
	equals or is	equals or is higher
Namexv	struments if it equals
	higher than	or is higher than the	than the notifiable
	the notifiable	threshold
	notifiable threshold
	threshold
Standard Life Aberdeen plc
Standard Life Investments (Holdings)
Limited
Standard Life Investments Limited	5.31	0.00	5.31
Standard Life Aberdeen plc
Aberdeen Asset Management PLC
Aberdeen Asset Managers Limited
Standard Life Aberdeen plc
Aberdeen Asset Management PLC
Aberdeen Asset Investment Group
Limited
Aberdeen Asset Investments Limited

10. In case of proxy voting, please identify:

Name of the proxy holder	N/A
The number and % of voting rights held	N/A
The date until which the voting rights will be held	N/A

11. Additional informationxvi

In reference to section 9, the shares detailed are managed by the named discretionary investment management entity within multiple portfolios on behalf of underlying clients, based on investment management agreements whereby the client has delegated the exercise of the voting power to the referenced investment manager.

This disclosure is to reflect the fact that the voting rights effectively held indirectly by the underlying intermediate holding company Standard Life Investments (Holdings) Limited ("SLIHL") and held by the underlying investment management entity Standard Life Investments Limited ("SLIL") increased above a notifiable threshold due to trading on 27 January 2020.

SLIHL and SLIL now effectively hold the delegated voting rights to 5.31% of the shares in Liontrust Asset Management plc.

Place of completion	Edinburgh, United Kingdom
Date of completion	28/01/2020