Thursday, November 16, 2017

Cabot Credit Management Update on Intention on Float

Cabot Credit Management (Cabot), the UK’s leading credit management services provider, announces that it will not be proceeding with an initial public offering on the London Stock Exchange. The Board believes proceeding with the transaction would not be in the best interest of the company or its shareholders, given the current IPO and broader market conditions. Cabot will continue to deliver on its growth strategy and will re-consider an initial public offering at such time as market conditions become more supportive.

 

Ken Stannard, CEO, Cabot Credit Management, said "The high level of engagement and interest that we received from a wide array of investors was very encouraging, but the timing has been unfortunate with respect to IPO market conditions."

This announcement may include statements that are, or may be deemed to be, “forward-looking statements”. These forward-looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “plans”, “projects”, “anticipates”, “expects”, “intends”, “may”, “will” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts and involve predictions. Forward-looking statements may and often do differ materially from actual results. Any forward-looking statements reflect Cabot’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to Cabot’s business, results of operations, financial position, prospects, growth or strategies and the industry in which it operates. Forward-looking statements speak only as of the date they are made and cannot be relied upon as a guide to future performance. Save as required by law or regulation, the Company disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements in this announcement that may occur due to any change in its expectations or to reflect events or circumstances after the date of this announcement.

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The Cabot Credit Management Group incorporates: