Shawbrook Group is sending a circular to its shareholders in response to the final offer made by Marlin Bidco.

Marlin Bidco is a company jointly owned by funds managed and/or advised by Pollen Street Capital and BC Partners LLP, which was announced on 5 June 2017.

The independent directors have concluded that they are not able to recommend the final offer. Accordingly the independent directors unanimously recommend that Shawbrook shareholders should take no action in relation to the final offer and should not sign any document sent by Marlin Bidco or its advisers.

Funds advised by Pollen Street currently hold approximately 38.8% t of the issued share capital of Shawbrook and Lindsey McMurray serves as the representative director of Pollen Street on the board of Shawbrook. McMurray has not been, and will not be, involved in the board’s consideration of the Final Offer.  The independent directors of Shawbrook therefore comprise all of the directors of Shawbrook as at the date of this announcement, other than McMurray.