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Non-Standard Fin - FCA Review

RNS Number : 8479U
Non-Standard Finance PLC
03 August 2020
 

 

 

 

 

 

Non-Standard Finance plc

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

FCA review

3 August 2020

 

NSF announces that it has been informed by the Financial Conduct Authority ('FCA') that, following a visit to the Group's Guarantor Loans Division in March 2020 as part of a multi-firm review into the sector and having examined a selection of customer files, it has raised a number of  concerns regarding certain aspects of the operating procedures and processes at the Division.

NSF is now conducting an in-depth review, working closely with the FCA, to clarify the scope and scale of its concerns and to develop a possible redress methodology and will make a further announcement in due course.

Pending the outcome of this review, the Group's consideration of a possible equity issue has been put on hold for the time being. Alchemy, the Group's largest shareholder, who was supportive of the proposed capital raise, has confirmed that it remains supportive of providing further capital to the Group and is engaging with the Board in this regard.

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. The person responsible for arranging the release of this announcement on behalf of Non-Standard Finance plc is Peter Reynolds, Director of IR and Communications.

 

For more information:

Non-Standard Finance plc

Peter Reynolds, Director, IR and Communications


+44 (0) 20 3869 9026

Maitland/AMO

Neil Bennett

Andy Donald

Finlay Donaldson

+44 (0) 207 379 5151

 



 


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Quick facts: Non-Standard Finance PLC

Price: 4.725

Market: LSE
Market Cap: £14.76 m
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