logo
Plus   Neg
Share
Email

Provident Financial Asks Shareholders To Reject NSF Offer - Quick Facts

Provident Financial plc (PFG.L) strongly recommended its shareholders to reject the offer from NSF, and said the transaction is not in the interest of the Group's shareholders. In a letter to shareholders, Patrick Snowball, Chairman, said the proposed deal has major strategic and financial flaws.

Provident Financial also said, NSF recently informed the Group that some of its dividends in the last four years were against the Companies Act. Provident noted that these unlawful distributions are proof for the weak oversight of the NSF board.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Alibaba is upgrading its intellectual property system using blockchain technology, according to local news outlet Sohu. Alibaba Platform Management expects this to benefit mainly small and medium-sized enterprises, brands and entrepreneurs. The technology will be fully implemented in September, and thereafter, the company intends to expand it to the field of digital copyright protection. Electronics retailer Best Buy Co., Inc. (BBY) reported Thursday a 27 percent increase in profit for the first quarter from last year, which was impacted by restructuring charges, and higher revenues. Both adjusted earnings per share and revenues for the quarter topped analysts' estimates. The company also provides guidance for the second quarter and reiterated its outlook for the full-year 2020. While reporting financial results for the second quarter on Thursday, Hormel Foods Corp. (HRL) lowered its earnings and net sales guidance for the full-year 2019. For fiscal 2019, the company now projects earnings in a range of $1.71 to $1.85 per share, and net sales between $9.70 billion and $10.20...
Follow RTT