Update on Proposed Transaction

R8 Capital Investments PLC

10 November 2023

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

10 November 2023

R8 Capital Investments plc

(the "Company" or "R8")

Update on Proposed Transaction

Further to the announcement on 2 October 2023 regarding the Company entering into heads of terms with Redwood Financial Partners Limited ("RFPL") in relation to the proposed acquisition by the Company of the entire issued share capital of RFPL (the "Transaction"), the Company would like to provide an update on the likely timeframe for completion.  The parties have agreed to target completion of the Transaction on or around 1 July 2024.  The extended timeframe is largely due to the timelines for certain financial and reporting workstreams to be completed, including an IFRS conversion exercise of Redwood Bank Limited, a specialist business bank and RFPL's wholly owned subsidiary.  There can be no certainty that the Transaction will complete and it remains subject to, amongst other things, formal terms being agreed and the completion of legal and financial due diligence and regulatory approvals.

A further announcement will be made in due course.

-Ends-

Further information:

R8 Capital Investments plc

Jonathan Rowland / Richard Morecroft         [e-mail]

Peterhouse Capital Limited                        + 44 (0) 20 7469 0930

Corporate Broker

 

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