Last checked at 21 Sep 2012 17:37
CPPGROUP PLC
21 September 2012
Statement re Press Reports
CPP Group Plc ("CPP" or the "Group") notes the recent press reports in relation to the Group's on-going discussions with the FSA.
As previously announced in our Half Yearly Report, the Group continues to have positive and constructive discussions with the FSA regarding the form, structure, details and timing of customer redress and the settlement of customer claims in relation to Identity Protection and Card Protection products in the UK. These discussions have also included certain of the Group's larger Business Partners. CPP confirms that one of the options being considered is the use of a solvent scheme of arrangement as a potential vehicle for customer redress. Consideration of these options is at an early stage, however, and no decisions have been made.
Through these discussions, CPP remains committed to achieving an outcome that is acceptable to all stakeholders and which will enable us to progress and provide a greater degree of certainty for the business.
Further announcements will be made in due course.
Enquiries
Investor Relations
CPPGroup Plc
Paul Stobart, Chief Executive Officer
Shaun Parker, Chief Financial Officer
Tel: +44 (0)1904 544702
Helen Spivey, Head of Corporate and Investor Communications
Tel: +44 (0)1904 544387
Media
Tulchan Communications: John Sunnucks; David Allchurch
Tel: +44 (0)20 7353 4200