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NBNK Investments

17:29 on 27/06/2016

Current Price 30.00p | Bid 0.00p | Ask 0.00p | Change 0.00%

Company Overview

NBNK plc is a newly formed company which has been established to take advantage of the opportunity which the Directors believe exists in the UK banking and savings market. The Company's proposition is to build (primarily through acquisition) a new and substantial UK bank. NBNK intends to focus on acquisitions as the principal means of commencing and scaling its operations in UK domestic banking and, over time, retail wealth management. Certain of the net proceeds of the placing to be completed on Admission may be used to secure the employment of key members of the executive management team. The Company intends to focus on the acquisition of a large, established, high quality banking business to be funded by further substantial fundraisings. The articles of association of the Company do not contain any borrowing limits. Due diligence of the proposed acquisitions will be undertaken by the Directors assisted by members of the executive management team, consultants engaged by the Company and the Company's legal, financial and other professional advisers. Any material change to the Company's investment policy will only be made following the approval by ordinary resolution of Shareholders in general meeting. It is intended that if the Company has not been successful in making a significant acquisition within 18 months of Admission, the Directors will review the position and consider if it is appropriate to return unused funds to Shareholders and/or to wind-up the Company. If the Company has not completed an acquisition within 18 months from Admission and the Directors consider that it is appropriate, the Company will seek Shareholder approval to continue with its strategy at subsequent annual general meetings in accordance with the AIM Rules for Companies until an acquisition is made or the Company is otherwise wound up.

Stock Details

Shares in Issue 53,771,229
Market cap £ 17.48m
Sector Banks

Financial Highlights Year Ended 31/12/2013

Turnover £0.08 million
Operating Profit £0.16 million
Dividend Yield 0.00
Dividend Per Share 0.00
Dividend Cover 0.00
P/E Ratio -8125.00
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Key Personnel

Peter Keith Levene of Portsoken Chairman
Gary Hoffman CEO

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Price Summary

Mid Price ? 0.00p
Bid Price ? 0.00p
Ask Price ? 0.00p
Volume ? 0
Change Today 0.00p
% Change Today 0.00%
Open 0.00p
Previous Close 35.00p
Intraday High 0.00p
Intraday Low 0.00p
52 Week High 36.50p
52 Week Low 30.00p

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