72FP Skip.b.s 22

TIDM72FP

RNS Number : 4850R

Skipton Building Society

08 March 2021

FOR IMMEDIATE RELEASE

8 March 2021

COMPLETION OF THE ACQUISITION OF COUNTRYWIDE PLC BY CONNELLS LIMITED

Following the FCA's change of control approval on 24 February 2021 and the Court's sanctioning of the acquisition of Countrywide plc ("Countrywide") by Connells Limited ("Connells") under the Scheme of Arrangement on 4 March 2021, the acquisition of Countrywide by Connells (a subsidiary of Skipton Building Society) was completed today.

The cash consideration payable by Connells pursuant to the acquisition has been funded from an intra-group credit facility provided by Skipton Building Society to Connells. As Connells is outside Skipton Building Society's Prudential Group, the intra-group credit facility is risk weighted at 100% and this reduces Skipton Building Society's CET1 ratio reported as at 31 December 2020 from 39.7% to 37.3% on a pro-forma basis.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACQUPUAGWUPGGUR

(END) Dow Jones Newswires

March 08, 2021 05:16 ET (10:16 GMT)

Skip.b.s 22 (LSE:72FP)
Gráfico Histórico do Ativo
De Jan 2025 até Fev 2025

Skip.b.s 22 (LSE:72FP)
Gráfico Histórico do Ativo
De Fev 2024 até Fev 2025