IFG Group plc: Update on Regulatory Capital

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FOR IMMEDIATE RELEASE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 9 August 2019

REGULATORY CAPITAL

On 2 August 2019, IFG Group plc ("IFG") announced that the Financial Conduct Authority (the "FCA") is requiring IFG to increase the amount of its regulatory capital.  IFG also confirmed that the process of obtaining the approval of the FCA in order to satisfy the conditions to the acquisition of IFG by SaintMichelCo Limited, an indirect wholly owned subsidiary of funds of which Epiris GP Limited ("Epiris") is the general partner (the "Transaction"), was ongoing.

By way of update to that announcement, IFG confirms that it has been working with Epiris in order to address the FCA's revised capital requirements with a view to obtaining the approval of the FCA to the Transaction.  The decision of the FCA is expected in the week commencing 12 August 2019.  IFG will provide a further update to shareholders in due course.

Enquiries:

Statements Required by the Irish Takeover Rules

The directors of IFG accept responsibility for the information contained in this Announcement.  To the best of the knowledge and belief of the directors of IFG (who have taken all reasonable care to ensure that such is the case), the information contained in this Announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.

Rule 8 Dealing Disclosure Requirements

Under the provisions of Rule 8.3 of the Irish Takeover Rules, if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of IFG, all "dealings" in any "relevant securities" of IFG  (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by not later than 3:30 p.m. (Eastern Time) on the "business day" following the date of the relevant transaction. This requirement will continue until the date on which the Offer Period ends.  If two or more persons cooperate on the basis of any agreement, either express or tacit, either oral or written, to acquire an "interest" in "relevant securities" of IFG, they will be deemed to be a single person for the purpose of Rule 8.3 of the Takeover Rules.

Under the provisions of Rule 8.1 of the Takeover Rules, all "dealings" in "relevant securities" of IFG by Epiris or Bidco or by any party acting in concert with any of them, must also be disclosed by no later than 12 p.m. (Eastern Time) on the "business day" following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, can be found on the Takeover Panel's website at www.irishtakeoverpanel.ie.

"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.

Terms in quotation marks above are defined in the Takeover Rules, which can be found on the Irish Takeover Panel's website www.irishtakeoverpanel.ie.

If you are in any doubt as to whether you are required to disclose a "dealing" under Rule 8, please consult the Irish Takeover Panel's website at www.irishtakeoverpanel.ie or contact the Irish Takeover Panel on telephone number +353 1 678 9020 or fax number +353 1 678 9289