TIDMSTB
RNS Number : 7461J
Secure Trust Bank PLC
14 September 2016
Secure Trust Bank PLC
14 September 2016
Secure Trust Bank PLC ("Secure Trust" or the "Company")
Notification of proposed AIM cancellation and Admission to the
Official List
Further to the statement made in the Company's interim results
announcement on 19 July 2016, the Company confirms its intention to
apply for admission to listing of its ordinary shares on the
premium segment of the Official List of the UK Listing Authority
(the "Official List") and admission to trading on the London Stock
Exchange plc's ("LSE") main market for listed securities (the "Main
Market") (together, "Admission"). Pursuant to Rule 41 of the AIM
Rules for Companies, the Company hereby gives notice of the
intended cancellation of trading of its shares on the AIM market of
the LSE ("AIM").
The directors of the Company (the "Directors") believe that
Admission will help unlock substantial potential by providing the
Group with a more liquid market and a greater range of potential
investors for its shares as well as raise its corporate profile and
brand awareness. The Directors believe that, as the Group has
increased in scale, a Main Market listing is more appropriate for
the Group.
As previously announced by the Company, subject to regulatory
approval and following Admission, Lord Forsyth will become the
Chairman of the board of directors (the "Board") and Sir Henry
Angest will become a Non-Executive Director. The Board also expects
to appoint additional independent Non-Executive Directors to the
Board following Admission.
The Company is not raising any funds or issuing any new shares
in connection with Admission. No shares will be offered or marketed
to the public in the UK or elsewhere in connection with Admission
or the publication of the related prospectus. The Company's shares
will continue to be registered with their existing ISIN number
GB00B6TKHP66 and SEDOL number B6TKHP6. The Company's ticker symbol
will continue to be STB.
It is expected that the Company's ordinary shares will be
admitted to the Official List and to trading on the Main Market and
simultaneously be cancelled on AIM effective at the earliest on or
around 12 October 2016, subject to the receipt of the necessary
approvals from the UK Listing Authority and the LSE, being at least
20 business days after this announcement. As part of the move to
the Official List, the Company is preparing a prospectus which will
be issued prior to Admission. The prospectus will, when issued, be
made available on the Company's website at
www.securetrustbank.com/corporate-information.
Given the proposed move from AIM to the Official List, existing
shareholders should consult their own tax advisers as to the tax
implications of the Company's move to the Official List.
A further announcement will be made in due course.
Stifel Nicolaus Europe Limited ("Stifel") has been appointed as
sponsor in relation to Admission. Stifel, which is regulated by the
Financial Conduct Authority in the United Kingdom, is acting
exclusively for the Company and no-one else in connection with
Admission and will not regard any other person as a client in
relation to Admission and will not be responsible to anyone other
than the Company for providing the protections afforded to its
clients or for advising any other person on the contents of the
prospectus or on any other transaction or arrangement referred to
in this announcement.
Enquiries:
Secure Trust Bank PLC Tel: 020 7012 2400
Paul Lynam, Chief Executive
Officer
Neeraj Kapur, Chief Financial
Officer
------------------------------- -------------------
Stifel Nicolaus Europe Limited Tel: 020 7710 7600
(Sponsor and Broker)
Robin Mann
Gareth Hunt
Stewart Wallace
------------------------------- -------------------
Canaccord Genuity Limited Tel: 020 7665 4500
(Nomad and Joint broker)
Sunil Duggal
Roger Lambert
------------------------------- -------------------
Bell Pottinger Tel: 020 3772 2500
(Financial PR)
Dan de Belder
Aarti Iyer
------------------------------- -------------------
About Secure Trust Bank PLC
Secure Trust Bank is an established, well funded and capitalised
UK retail bank with a 64 year trading track record. Secure Trust
Bank operates principally from its head office in Solihull, West
Midlands, and had 630 employees (full-time equivalent) as at 30
June 2016. The Group's diversified lending portfolio currently
focuses on two sectors (i) Business Finance through its Real Estate
Finance, Asset Finance and Commercial Finance divisions and (ii)
Consumer Finance through its Personal Lending, Motor Finance and
Retail Finance divisions.
As at 30 June 2016 the Group's loans and advances to customers
totaled GBP1,128.3 million, customer deposits totaled GBP1,042.6
million and the Group's total customer base exceeded 600,000.
Disclaimer
This announcement does not contain or constitute an offer of, or
the solicitation of an offer to buy or subscribe for, the
securities referred to herein to any person in any jurisdiction,
including the United States, or in any jurisdiction to whom or in
which such offer or solicitation is unlawful.
This announcement contains statements that are, or may be deemed
to be, "forward-looking statements". These forward-looking
statements may be identified by the use of forward-looking
terminology, including the terms "believes", "estimates", "plans",
"projects", "anticipates", "expects", "intends", "may", "will" or
"should" or, in each case, their negative or other variations or
comparable terminology, or by discussions of strategy, plans,
objectives, goals, future events or intentions. Forward-looking
statements may and often do differ materially from actual results.
The forward-looking statements reflect the Company's current view
with respect to future events and are subject to risks relating to
future events and other risks, uncertainties and assumptions
relating to the Company's business, results of operations,
financial position, liquidity, prospects, growth and strategies.
The forward-looking statements speak only as of the date they are
made and cannot be relied upon as a guide to future performance and
each of the Company, Stifel and their respective directors,
officers, employees, agents, affiliates or advisers expressly
disclaim any obligation to supplement, amend, update or revise any
of the forward-looking statements made herein, except where it
would be required to do so under applicable law.
Certain figures contained in this announcement, including
financial information, have been subject to rounding adjustments.
Accordingly, in certain instances, the sum or percentage change of
the numbers contained in this announcement may not conform exactly
with the total figure given.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCAKNDDABKDPCD
(END) Dow Jones Newswires
September 14, 2016 02:00 ET (06:00 GMT)