Curtis Banks : Proposed placing of approximately 7.1 million ordinary shares in Curtis Banks Group PLC

26 April 2018

Proposed placing of approximately 7.1 million ordinary shares in Curtis Banks Group PLC ("Curtis Banks" or the "Company") at 280.25 pence amounting to approximately £20 million

Curtis Banks announces that it has been advised by Chris Banks, Rupert Curtis, the Company's Chief Executive Officer, and Paul Tarran, the Company's Chief Financial Officer, (together the "Sellers") that they wish to sell approximately 7.1 million ordinary shares in the Company (the "Placing Shares") at 280.25 pence. The Placing Shares represent approximately 13 per cent of the Company's issued share capital.

The Placing Shares will be split between the Sellers as follows:

• • Chris Banks, approximately 5.9 million shares, representing c.10.9% of the Company's issued share capital

• • Rupert Curtis, approximately 1.0 million shares, representing c.1.8% of the Company's issued share capital

• • Paul Tarran, approximately 0.3 million shares, representing c.0.6% of the Company's issued share capital

The Placing Shares are being offered by way of an accelerated bookbuild (the "Placing"), which will be launched immediately following this announcement. Peel Hunt LLP (the "Bookrunner") will be acting as sole bookrunner in connection with the Placing. The Placing is not underwritten.

The results of the Placing will be announced as soon as practicable thereafter. The timings for the close of the bookbuild process and allocations are at the absolute discretion of the Bookrunner.

The Sellers have agreed to a customary lock-up on their remaining shares which ends 365 days after the completion of the Placing.

On 15 March 2018 the Company announced a final dividend of 4.75 pence per ordinary share, payable on 18 May 2018 to shareholders on the register on 27 April 2018. Ordinary shares were marked ex-dividend in respect of the final dividend today. The Placing Shares will not be entitled to receive the final dividend.

The Company is not party to the Placing and, as a result, the Company will not receive any proceeds from the Placing.

For further information contact:

Curtis Banks Group plc

Rupert Curtis - Chief Executive Officer

Peel Hunt LLP (Nominated Adviser & Broker) Guy Wiehahn

www.curtisbanks.co.uk+44 (0) 117 9107910 +44 (0) 20 7418 8900

Alistair Rae

Jock Maxwell Macdonald Rory James-Duff

Camarco (Financial PR) Ed Gascoigne-Pees Hazel Stevenson

+44 (0) 20 3757 4984

Note to editors:

Curtis Banks administers over 76,000 Self-Invested Pension Schemes, principally SIPPs and SSASs. The Group commenced trading in 2009 and has successfully developed, through a combination of organic growth and acquisitions, into one of the largest UK providers of these products. The Group employs approximately 570 staff in its head office in Bristol and regional offices in Ipswich and Dundee.

For more information -www.curtisbanks.co.uk

DISCLAIMER

Members of the general public are not eligible to take part in the Placing.

This announcement and the information contained herein may not be published, distributed or transmitted, directly or indirectly, in the United States (including its territories and possessions), Canada, Australia, Japan or the Republic of South Africa or any other jurisdiction where such an announcement would be unlawful. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession this document or other information referred to herein should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

This announcement and the information contained herein are for information purposes only and do not constitute or form part of any offer of securities for sale or a solicitation of an offer to purchase securities in the United States, Australia, Canada, Japan, the Republic of South Africa or any other jurisdiction.

The Placing Shares have not been, and will not be, registered under the US Securities Act of 1933, as amended (the "US Securities Act"), or under the applicable securities laws of any state or other jurisdiction of the United States, Canada, Australia, the Republic of South Africa or Japan or of any other jurisdiction. The Placing Shares may not be offered or sold in the United States unless registered under the US Securities Act or offered in a transaction exempt from, or not subject to, the registration requirements of the US Securities Act and the securities laws of any relevant state or other jurisdiction of the United States. There will be no public offering of the Placing Shares in the United States or elsewhere.

In the United Kingdom, this announcement is only directed at persons who are qualified investors (as defined below) and (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling within Article 49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.) (all such persons together being referred to as "Relevant Persons"). This announcement is directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons.

In member states of the European Economic Area (EEA) which have implemented the Prospectus Directive (each, a "Relevant Member State"), this announcement and any offer if made subsequently is directed exclusively at persons who are "qualified investors" within the meaning of the Prospectus Directive. For these purposes, the expression "Prospectus Directive" means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in a Relevant Member State), and includes any relevant implementing measure in the Relevant Member State and the expression "2010 PD Amending Directive" means Directive 2010/73/EU.

The distribution of this announcement and the offering or sale of the Placing Shares in certain jurisdictions may be restricted by law. No action has been taken that would permit an offering of securities or possession or distribution of this announcement in any jurisdiction where action for that purpose is required. Persons into whose possession this announcement comes are required to inform themselves about and to observe any such restrictions. No prospectus or offering document has been or will be prepared in connection with the Placing. Any investment decision to buy securities in the Placing must be made solely on the basis of publicly available information. Such information is not the responsibility of and has not been independently verified by the Sellers, Peel Hunt LLP or any of their affiliates.

Peel Hunt LLP is authorised and regulated by the Financial Conduct Authority in the United Kingdom. The Bookrunner is acting only for the Sellers in connection with the Placing and will not be responsible to anyone other than the Sellers for providing the protections offered to their respective clients nor for providing advice in relation to the Placing or any matters referred to in this announcement.

In connection with any offering of the Placing Shares, Peel Hunt LLP and/or any of its affiliates may take up a portion of the securities in the offering as a principal position and in that capacity may retain, purchase or sell for their own account such securities. Peel Hunt LLP does not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligation to do so.

This information is provided by RNS

The company news service from the London Stock Exchange

END