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Secure Trust Bank completes sale of consumer lending biz

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Secure Trust Bank completes sale of consumer lending biz

the of its branch-based nonstandardconsumer lending business Everyday Loans Holdings Ltd. to for anenterprise value of £235 million.

Theacquisition was funded by a placing an open offer of 188,235,825 newordinary shares in Non-Standard Finance at an offer price of 85 pence per newordinary share, the issue of 23,529,412 new ordinary shares in Non-StandardFinance to Secure Trust Bank and a new debt facility.

Theissued share capital of Non-Standard Finance following the issue of theconsideration shares is 317,049,682 ordinary shares in aggregate.

Asthe acquisition is classified as a reverse takeover, application was made forthe listing of all of the company's ordinary shares to be canceled, effectivefrom April 14. Non-Standard Finance applied for the admission of suchordinary shares and the consideration shares to the standard listing segment ofthe official list of the U.K. Financial Conduct Authority and to trading on theLondon Stock Exchange's main market for listed securities, with effect fromApril 14.

isthe holding company of Secure Trust Bank, in which it owns a 51.9% stake.