Non-Standard Finance PLC Update on Delisting and Suspension of Shares (0939F)

TIDMNSF

RNS Number : 0939F

Non-Standard Finance PLC

05 July 2023

Non-Standard Finance plc

('NSF', the 'Company' or the 'Group')

Update on Delisting and Suspension of Shares

5 July 2023: Further to its recent announcement regarding the implementation of the Alternative Transaction (the "23 June Announcement"), the Company announces that it expects the Group's secured lenders to take steps shortly, by enforcing their security, to appoint fixed charge receivers (the "FCRs") in respect of the shares in NSF Finco Limited ("Finco"), an intermediate holding company within the Group which holds the Group's business. It is expected that, once appointed, the FCRs will effect the transfer of the shares in Finco to a newly-incorporated company owned by the secured lenders in exchange for the release of a portion of their secured debt and the provision of a new lending facility. Following this transfer, the Company will no longer have any interest in the Group's business, leaving no prospect of any return for the Group's shareholders, as previously announced. Accordingly, pursuant to Listing Rule 5.1.4, the Company has applied to the FCA for the listing on the Official List of the FCA of its ordinary shares of 5p each (the "Shares") to be suspended with effect from 7:30 a.m. on 7 July 2023.

The Company will continue to progress an orderly winddown of the ultimate parent company of the Group, and will take steps towards the Delisting described in the 23 June Announcement. Formal notice of the Delisting, including the proposed date of any Delisting, will be set out in a separate announcement in due course. Trading in the Ordinary Shares will remain suspended until the Delisting is effective and will not resume trading.

Unless otherwise defined, capitalised terms within this announcement shall have the same meaning as those contained within the 23 June Announcement.

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. The person responsible for arranging the release of this announcement on behalf of Non-Standard Finance plc is Sarah Day, Chief ESG Officer and Group Company Secretary.

 
 For more information: 
 Non-Standard Finance plc         +44 203 869 9020 
 Jono Gillespie, Group Chief 
  Executive Officer 
 
  Sarah Day, Chief ESG Officer 
  and Company 
  Secretary 
 Cenkos Securities plc            +44 207 397 8900 
 Ben Jeynes 
 
  Callum Davidson 
 H/Advisors Maitland              +44 207 379 5151 
 Neil Bennett                     +44 7900 000777 
 Finlay Donaldson                 +44 7341 788066

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END

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July 05, 2023 10:18 ET (14:18 GMT)

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