TIDMBM19

RNS Number : 8071Y

Honours PLC

08 December 2017

8 December 2017

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014

FOR DISTRIBUTION ONLY OUTSIDE THE UNITED STATES TO PERSONS OTHER THAN "U.S. PERSONS" (AS DEFINED IN REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED). NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN, ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO RELEASE, PUBLISH OR DISTRIBUTE THIS ANNOUNCEMENT

HONOURS PLC

(incorporated with limited liability in England and Wales with registered number 03702189)

Announcement relating to settlement agreement with Capita Customer Management Limited

Further to the announcements on 12 February 2016, 13 September 2016 and 31 October 2016 by Honours plc (the Issuer), in which the Issuer informed noteholders that Capita Customer Management Limited (Capita) (the former administrator of Honours' student loan portfolio) had informed the Issuer that certain arrears notices it sent (in its capacity as administrator) to a portion of borrowers may not have been in compliance with applicable consumer credit legislation, the Issuer has, on 7 December 2017, entered into a settlement agreement with Capita pursuant to which Capita has agreed to make payment of GBP8,000,000 (eight million pounds) (the Settlement Amount) to the Issuer in full and final settlement of any claims the Issuer may have against Capita. Such payment is required to be made within 14 days of the entry into of the settlement agreement.

The Settlement Amount will be credited to a new account of the Issuer and held pending final determination as to the application thereof in settlement of costs and other amounts arising from the non-compliance issues referred to above, details of which will be forthcoming from the Issuer in due course.

For further information, please contact:

Honours plc

Third Floor

1 King's Arms Yard

London EC2R 7AF

   Attention:          The Directors 
   Telephone:        +44 (0) 20 7397 3600 
   Fax:                  +44 (0) 20 7397 3601 
   e-mail:              Transactionteam@wilmingtontrust.com 
   Ref:                  Honours PLC

DISCLAIMER

This Document does not contain or constitute an offer of, or the solicitation of an offer to buy, securities to any person in the United States or in any jurisdiction to whom or in which such offer or solicitation is unlawful. The securities referred to in this Document may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended (the Securities Act) or another exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. The offer and sale of the securities referred to in this Document has not been and will not be registered under the Securities Act. There will be no public offer of the securities in the United States.

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

December 08, 2017 05:04 ET (10:04 GMT)

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