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Investee Company Update

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RNS Number : 4744D
Eight Peaks Group PLC
09 October 2018
 

9 October 2018

Eight Peaks Group PLC (the "Company")

Investee Company Update

Further to the announcement made on 23 April 2018 and also included in the Company's Annual Report and Accounts for the year ended 31 March 2018, the Company clarifies the status of its investee company's regulatory authorities.  IBS, the operating subsidiary of IBS Corporation, has been registered as a New Zealand building society under the Building Societies Act 1965 ("Act") by the Registrar of Building Societies in New Zealand. As such, IBS has the authorities to carry out the activities specified in the Act subject to the provisions of the Act and any other applicable legislation and regulation as discussed further below.

IBS does not intend to undertake activities for retail investors nor act as a non-bank deposit taker. Consequently, IBS is not required to be licenced by the New Zealand Financial Markets Authority, nor is it subject to Prudential Regulation by the Reserve Bank of New Zealand.

IBS is not currently registered as a financial services provider under the Financial Service Providers (Resolution and Dispute Resolution) Act 2008. IBS expects that it will be required to register before undertaking any activities and is currently taking advice on this matter

 

As IBS develops its business, it will review and take advice as appropriate in respect of compliance with relevant regulations, and where its conduct or activities require, it will obtain any necessary licences and/or registrations.

 

- ENDS -

Eight Peaks Group PLC

Zafar Karim / Thomas Reuner

 

020 8201 3536

Nominated Adviser



Grant Thornton UK LLP

Broker

Colin Aaronson / Harrison Clarke / Seamus Fricker

020 7383 5100

S.P. Angel Corporate Finance LLP

 

Richard Parlons / Richard Morrison

020 3470 0470

About Eight Peaks Group PLC

Eight Peaks Group PLC focuses on assisting companies and making investments which exhibit the potential to generate returns of many multiples through capital appreciation.  Typically, Eight Peaks takes stakes in small companies where there are clear catalysts for value appreciation and the companies are operating in sectors exhibiting long term growth. Examples of such sectors include technology, energy and natural resources.

http://8pg.co

 

 

 


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 [email protected] or visit www.rns.com.
 
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