LONDON (dpa-AFX) - Non-Standard Finance plc said its Board has decided to set 15 May 2019 as the revised closing date of the offer for Provident Financial plc (PFG.L). NSF expects the offer becoming wholly unconditional by 5 June 2019.
John van Kuffeler, NSF's Group Chief Executive said: 'Our Offer and transformation plan for Provident represents a clear alternative to the status quo offered by the Provident Board and, having already received acceptances from shareholders holding over 50 percent of Provident's shares, we urge all remaining Provident shareholders to accept our Offer without delay.'
NSF expects its final dividend for the financial year ended 31 December 2018 to be paid on 7 June 2019 to existing NSF shareholders with a record date of 24 May 2019.
Regarding the final dividend declared by Provident, the NSF Board said it will not exercise right to reduce the number of new NSF shares that Provident shareholders receive.
The NSF Board will review the dividend policy of the enlarged NSF Group shortly following completion, considering recent financial performance of Provident. The NSF Board noted that it plans dividend payments of the Enlarged NSF Group, following completion, over time, to reflect the Group's policy of paying out to shareholders at least 50 percent of normalised post-tax earnings.
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