Preparatory activities for the sale of NLB as part of the IPO process
The results of the UK referendum have led to heightened volatility in the financial markets. Together with its financial advisor, Deutsche Bank, SSH has decided to postpone the pre-marketing activities (specifically, non-deal roadshow), previously planned to take place in July, until a later period when financial markets will have returned to a more stable state.
The timeline for the envisaged activities in regard to the sale of NLB will not be changed and the objectives have remained the same, as the timeframe adopted allows sufficient time for the normalization of financial markets conditions and good quality preparation for a transaction. To this extent, all legal advisors have now been appointed and preparatory activies continue as originally planned. Notwithstanding the above, some previously planned meetings with potentialcornerstone investors will be organised to take the investor interest forward.
To ensure suitable preparations for the launch of the sale process, the NLB's Supervisory Board and the Management Board will be shortly completed.