This is the website of NBNK Investments Plc. The Company was admitted to AIM on 20 August 2010 and over the following two years, worked to try and establish a customer-focused bank through an acquisition that would have given the Company a foothold from which to expand. The main target was the 'Project Verde' assets being divested by the Lloyds Banking Group.
Those discussions were unsuccessful, and the directors began the process of unwinding the Company. However, in the second half of 2012, funds within the WL Ross & Co Group made an offer to inject new capital into the Company by taking a sizeable stake, with a view to maintaining NBNK as an AIM listed company so that it could continue its search for suitable potential acquisition targets.
At a meeting of ordinary shareholders on 8 January 2013, the Company resolved to allot shares to certain funds in the WL Ross & Co Group and to accept tender offers from any shareholder who wished to sell shares at that time.
Three members of the board stood down and I was appointed as a director and Chairman of the Company. Lord Dan Brennan kindly agreed to carry on as a director.
Our policy is to maintain the Company at minimal cost while we seek appropriate opportunities to make an acquisition in the financial services sector. Shareholders will be kept advised as and when there are developments to report.
I would like to acknowledge the considerable work undertaken by the outgoing board, led by Lord Peter Levene, which did everything it could to try and create a new high street retail banking presence in the UK. I also acknowledge the continuing support of the great majority of institutional and other shareholders who have been with the Company since its inception and continue to support our ambitions.
|Wilbur L. Ross, Jr.