REG - Non-Standard Fin - Update on Delisting and Suspension of Shares

Non-Standard FinanceAnnouncement

05/07/2023 15:30

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230705:nRSE0939Fa&default-theme=true

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

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDUVASROBUBRAR