Business
Lapse of Offer
Lapse of Offer.
About this update from Vanquis Banking Group Plc
[{"type":"text","content":"\n \nRNS Number : 1952B Provident Financial PLC 05 June 2019 \n\nNOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION\n \nFOR IMMEDIATE RELEASE\n \n5th June 2019\n \nProvident Financial plc (\"Provident\") \n \nLapse of Offer\n \nThe Provident Board notes the announcement by Non-Standard Finance plc (\"NSF\") that its unsolicited offer for Provident (the \"Offer\") has lapsed. The Provident Board believes this outcome to be in the best interests of Provident Shareholders and greatly regrets the unnecessary distraction, cost and impact of the uncertainty on Provident's customers and staff caused by NSF pursuing its extended hostile Offer.\n \nProvident's standalone strategy is clear. As announced in the Trading Statement and Vision for the Future on 3rd May 2019, Provident intends to continue on its path of delivering the strategic initiatives already underway at Provident to generate attractive and sustainable returns for shareholders. Our focus is on providing customers with credit products appropriate for their circumstances, delivering good customer outcomes and generating sustainable shareholder returns. This will be achieved by:\n \n· Delivering a broader product range;\n· Enhancing our distribution capabilities;\n· Establishing a single view of our customer; and\n· Growing responsibly and delivering sustainable shareholder returns.\n \nThe Provident Board wishes to thank all of its staff for their continuing diligence and hard work in the face of several months of uncertainty. The Provident Board notes the views of all of its shareholders as expressed during the Offer and looks forward to further engaging with them in the near future. \n \nUnless otherwise defined, all capitalised terms in this announcement shall have the meaning given to them in the response document published on 23rd March 2019.\n \nEnquiries \nProvident Financial plc, Tel: +44 12 7435 1135\nPatrick Snowball, Chairman \nMalcolm Le May, Chief Executive Officer\nGary Thompson / Vicki Turner, Investor Relations,&...