Provident notes the publication today of NSF's offer document in respect of its unsolicited offer for Provident (the “Offer”) and notes that with a first closing date of 8 May, shareholders have a significant period of time to assess the merits of the Offer. As well as undervaluing the Group and its prospects, the Board believes the Offer presents significant operational and execution risks due to the changing regulatory environment, NSF's track record of value destruction and NSF's limited experience across the full breadth of Provident's businesses.
The Board's considered response to the Offer will be published in due course. In the meantime, shareholders are strongly advised to take no action with respect to the Offer.