CPPGroup Plc Statement re. Press Comment (9140M)
September 21 2012 - 12:37PM
UK Regulatory
TIDMCPP
RNS Number : 9140M
CPPGroup Plc
21 September 2012
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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