5th Jul 2023 16:40
Non-Standard Finance PLC - Wakefield, West Yorkshire-based consumer lending firm - Continues to progress towards an orderly wind down of the parent company of the group. Requests suspension of shares from July 7. Adds formal notice of delisting will follow. Expects lenders to take steps shortly, by enforcing their security, to appoint fixed charge receivers in respect of the shares in NSF Finco Ltd, an intermediate holding company within the group which holds the group's business. Once appointed, the receivers will effect the transfer of the shares to a newly-incorporated company owned by the secured lenders in exchange for the release of some 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.
Current stock price: 0.088 pence
12-month change: down 95%
By Jeremy Cutler, Alliance News reporter
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