Public disclosure of inside information according to article 17 MAR

IBP Markets Ltd.: in special administration

Birmingham (pta/27.10.2023/13:00 UTC+2)

• IBP Markets Limited (the "Company") entered into special administration in the United Kingdom on 13 October 2023.
• The effect this has on the GBP 1,000,000 perpetual convertible loan notes issued by the Company in February 2022 with ISIN (the "CLNs") is still being assessed and the Company's administrators will make further announcements in due course, as appropriate.

On 15 September 2023, the United Kingdom's Financial Conduct Authority (the "FCA") imposed requirements restricting the activities of the Company and prohibiting the dealing and disposition of its own assets and those it holds for and on behalf of others. Having considered the Company's financial position following the imposition of the FCA restrictions, the directors of the Company applied to court to place the Company into special administration. On 13 October 2023, David Philip Soden and James Robert Bennett were appointed joint special administrators (the "Joint Special Administrators") of the Company.

The Joint Special Administrators will manage the affairs, business and property of the Company for the duration of the special administration ("the Administration") in accordance with the following special administration objectives (the "Objectives"):

Objective 1: to ensure the return of client assets as soon as is reasonably practicable;

Objective 2: to ensure timely engagement with market infrastructure bodies and the competent governmental authorities; and

Objective 3: to rescue the Company as a going concern or wind-up the Company in the best interests of its creditors.

The Administration provides protection to the Company and limits action being taken against it. This means that during the Administration, the ability to wind-up the Company, to have an administrative receiver appointed over its assets, and of creditors to enforce security, repossess goods or commence any legal proceedings against the Company is limited, by reason of a statutory moratorium against the taking of any such actions.

Investors in the CLNs are reminded that the CLNs are perpetual subordinated capital instruments of the Company and are not redeemable except by the Company in the limited circumstances specified in the terms and conditions of the CLNs. Investors are further reminded that the Company's obligation to pay annual interest on the CLNs is a conditional obligation only and may be cancelled at any time, in whole or in part, at the Company's discretion. The Joint Special Administrators will exercise the Company's discretion in this regard, in accordance with the terms and conditions of the CLNs and the applicable regulatory regime. The Joint Special Administrators will make further communications regarding the rights of the holders of the CLNs in due course.

Further information for customers and creditors of the Company is available at the following website: www.ips-docs.com/case/IBPMA0001I/IBPTeneo2023.

27 October 2023

The Joint Special Administrators

IBP Markets Ltd. (in special administration)
c/o Teneo Financial Advisory Limited
The Colmore Building
20 Colmore Circus
Queensway
Birmingham, B4 6AT
United Kingdom
Phone: +44 121 619 0120
Email: IBP.Creditors@teneo.com

(end)

---

Emitter:	IBP Markets Ltd. 14-16 Dowgate Hill EC4R 2SU London United Kingdom
Contact Person:	Olivia Kutner
Phone:	+442037818549
E-Mail:	ibp.creditors@teneo.com
Website:	www.teneo.com/uk/
ISIN(s):	(Bond)
Stock Exchange(s):	Free Market in Munich

[ source: https://www.pressetext.com/news/1698404400174 ]

(c) pressetext Nachrichtenagentur GmbH Ad-hoc and financial news distributed by pressetext. Archive: https://www.pressetext.com/channel/Adhoc The emitter is responsible for the content. Contact: adhoc@pressetext.com or +43-1-81140-0.