Provident Financial ‘astonished’ at admissions by suitor Non-Standard Finance that it broke company law April 14, 2019 Provident Financial said today it is “astonished” by suitor Non-Standard Finance’s (NSF) statement after trading ended on Friday which admitted it had broken company law with previous dividend payments. A spokesperson for Provident said: “We are astonished by NSF’s after hours announcement admitting, ten days after Provident questioned certain dividends and buy backs, an apparently wider [...]
Provident Financial blasts Non-Standard Finance over failure to respond to concerns April 12, 2019 Doorstep lender Provident Financial said today it remains “gravely concerned” that Non-Standard Finance (NSF) has failed to respond to questions it raised in relation to NSF’s takeover bid. NSF made a £1.3bn offer for struggling sub-prime lender Provident in February that was rejected by the company, but has continued its pursuit despite opposition from Provident’s [...]
Provident Financial questions Non-Standard Finance’s past dividends as it attempts to dodge its bid April 2, 2019 Doorstep lender Provident Financial blasted suitor Non-Standard Finance (NSF) today, questioning past dividend payments as it tries to evade NSF’s clutches. Provident put a series of questions to NSF, including questions on “specific concerns regarding certain historical dividend payments and share buybacks”. NSF put out its own stock market announcement today, trumpeting the fact it [...]
Provident restores dividend as doorstep lender fights takeover bid from Non Standard Finance March 13, 2019 Provident Financial has restored its dividend after implementing a turnaround plan, the doorstep lender announced today as it fights off a takeover bid from rival Non Standard Finance. The figures Shares were up more than three per cent as the company announced that adjusted profit before tax increased by 82.3 per cent to £153.5m. Statutory [...]
Provident Financial brands £1.3bn Non-Standard Finance takeover offer ‘strategically and financially flawed’ March 11, 2019 Doorstep lender Provident Financial has doubled down on its rejection of a takeover bid by rival firm Non-Standard Finance (NSF) this morning. Provident said it believes the proposed £1.3bn deal is “strategically and financially flawed” after NSF published a document outlining the terms of the offer over the weekend. Read more: Non-Standard Finance targets Provident [...]
Non-Standard Finance targets Provident takeover despite rejected bid March 8, 2019 Sub-prime lender Non-Standard Finance is continuing to target a takeover of troubled rival firm Provident despite its offer being rejected, the company revealed in its full-year results this morning. The figures Read more: Provident Financial resolves regulation issues with City watchdog Revenue increased 47 per cent to £158.8m from 107.7m in the 12 months to [...]
Provident Financial resolves regulation issues with City watchdog March 6, 2019 Doorstep lender Provident Financial has said it has "substantially resolved" recent regulatory issues as it revealed that it has hired a new boss to lead its Vanquis Bank business. The company, which has rejected a £1.3bn takeover bid from rival Non-Standard Finance (NSF), revealed that the Vanquis refund programme was more than 99 per cent [...]
Former RBS executive John Hourican to return to UK as NewDay CEO March 2, 2019 Former Royal Bank of Scotland (RBS) executive, John Hourican is set to return to UK and join credit card company NewDay as chief executive. NewDay is a consumer finance firm that runs co-branded credit cards with retail giants like Debenhams, Amazon and Sir Philip Green's Arcadia Group. Read more: Revolut outage: Digital bank's customers unable to [...]
Provident Financial appoints ex-Just Group finance director as CFO after difficult 18 months November 6, 2018 Doorstep lender Provident Financial has appointed Simon Thomas as chief finance officer as it begins to recover from a turbulent 18 months. Thomas will join from FTSE 250 company Just Group where he was also finance director. Current finance chief Andrew Fisher will step down from the role in December but will remain employed for [...]