LONDON (dpa-AFX) - Provident Financial plc (PFG.L) said that Simon Thomas, Chief Financial Officer is to take up to three months leave, starting on 5 April 2019. During this period he will have a heart operation, and is expected to return to work full time no later than June 2019.
In his absence Tony Skrzypecki, a senior advisor and former partner at PricewaterhouseCoopers (PwC), will become interim Chief Financial Officer at Provident Financial plc, but will not be a member of the Board. Tony starts his role on Tuesday 2 April, and will report to Malcolm Le May, Chief Executive Officer.
Provident stated that its board continues to explore all appropriate alternatives to maximise value for all shareholders and re-confirmed that it does not recommend Non-Standard Finance or NSF Offer. The Provident Board strongly advises all Provident Shareholders to take no action in relation to the NSF Offer.
Provident Board continues to have very material concerns about the strategic, operational and financial merits of the NSF Offer and is keen to ensure that all of its shareholders, including those that do not have a shareholding in NSF, have full clarity with respect to the terms and implications of the NSF Offer.
Separately, NSF said it has now received acceptances from Provident Shareholders in respect of Provident Shares representing more than 50 per cent. of Provident's issued share capital.
As at 3.30 p.m. on 1 April 2019, being the last Business Day prior to the date of this announcement, NSF had received valid acceptances in respect of a total of 128.54 millionProvident Shares, representing, in aggregate, 50.7 per cent. of Provident's issued share capital.
NSF Board urged Provident Shareholders to accept the offer without delay.
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