TIDMNSF

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                                      +44 (0) 20 3869 
       Peter Reynolds, Director, IR and Communications                         9026 
      Maitland/AMO 
       Neil Bennett 
       Andy Donald 
       Finlay Donaldson                                        +44 (0) 207 379 5151

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 or visit www.rns.com.

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August 03, 2020 02:00 ET (06:00 GMT)

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