REPLY24 Dec 2020 10:34
Good morning, info, that is in the public domain already however , but got a reply to my email, here are salient points:
The Board is working very hard to put in place the Scheme of Arrangement we spoke about in the RNS of 21 December
and believe that a successful Scheme will provide more certainty to the total liability arising from customer complaints.
The Board also believes that this option is the best solution to protect against any potential future administration.
A Scheme is designed to enable us to draw a line under the unaffordable lending complaints situation and restart lending, helping us in our aim to turn this business around and to build a sustainable business for the long term, in the interests of all stakeholders. It will enable us to keep operating, retain jobs and to keep providing the chance of financial inclusion to the many locked out of mainstream credit. We expect to provide more detail in the New Year.
Something to ponder over XMAS and New Year holidays i guess .
Come on Amigo, we are all waiting for re lending to start .