MCB Finance Group PLC Notice to Bond Investors (2748A)
19 Dezember 2014 - 8:12AM
UK Regulatory
TIDMMCRB
RNS Number : 2748A
MCB Finance Group PLC
19 December 2014
19 December 2014
MCB FINANCE Group plc
Notice to Bond Investors Regarding Outcome of Waiver Request
MCB Finance Group Plc (AIM: MCRB.L) ("MCB" or the "Company")
announces that CorpNordic Sweden AB, acting on behalf of MCB
Treasury AB (a wholly-owned subsidiary of MCB) and MCB, has
confirmed to the Company that the holders of both the asset-backed
fixed rate notes and the subordinated fixed rate notes have
confirmed their consent to a waiver requested on 27 November 2014
of certain provisions in the terms and conditions of the notes (the
"Waiver").
Pursuant to the applicable voting procedures, the Waiver was
approved by the noteholders with a majority of votes for the
asset-backed fixed rate notes and the subordinated fixed rate notes
respectively.
The Waiver involves provisions in the terms and conditions of
the notes that relate to a potential change of control and
associated de-listing of MCB.
MCB sought the Waiver following a preliminary approach by
International Personal Finance Plc ("IPF") relating to a possible
cash offer for MCB. IPF today announced a recommended cash
acquisition of MCB in accordance with Rule 2.7 of the City Code on
Takeovers and Mergers.
Link to the announcement:
Further information:
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/12190758.html
MCB Finance Group Plc:
Paul Aylieff, Chief Financial Officer +372 501 4064
paul.aylieff@mcbfinance.com +44 7599 000007
Agent for the Noteholders:
CorpNordic Sweden AB +46 8402 7200
Jon Östrem
trustee@corpnordic.com
Nominated Adviser and Broker:
Sanlam Securities UK Limited +44 20 7628 2200
Lindsay Mair
Lindsay.Mair@sanlamsecuritiesuk.com
Media enquiries:
Allerton Communications +44 20 3137 2500
Peter Curtain
peter.curtain@allertoncomms.co.uk
About MCB Finance Group Plc
MCB Finance Group is a consumer finance company providing fast,
convenient, easily understood and flexible credit solutions under
the Credit24 brand to retail customers in Finland, Estonia, Latvia
Lithuania and Australia. In its current markets, the Company is a
leading participant in the non-bank consumer credit sector,
providing unsecured loans up to EUR3,000 to qualifying customers,
with maturities ranging up to two years. Loan products are designed
to suit customers' needs, with simple and transparent terms and
flexible repayment schedules. The Company operates in a segment of
the market that is typically under-served by larger financial
institutions, and is focused on serving high quality customers with
strong credit histories. Loans are currently offered online through
the Company's Credit24 branded websites in each market, as well as
through certain distribution partners.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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