St Helens Finance plc
LSE : SHF

February 18, 2011 05:17 ET

Company Update

                                                                                     18 February 2011
                                                  
                                       ST HELEN'S FINANCE PLC
                           ("St Helen's Finance", "SHF" or "the Company")

                                           COMPANY UPDATE

Following a strategic review of its operations, the Company has the following announcements:-

SHF  Legal Funding Limited is to be taken over by the company's joint venture partners City of London
Group  Plc, ('CoLG'), through the capitalisation of a loan note owed to CoLG. CoLG plans for  growing
this  business  will require no further financial support or operating involvement from  the  Company
after the end of February.

In  addition  and  as  part  of  this  strategic repositioning of  the  Company,  SHF  announces  the
resignations of Christopher Boobyer, Michael Hughes and James Frost as Directors of the Company.  The
Company  would like to thank them for their contribution to this review and wishes them well for  the
future.


               The Directors of the Issuer accept responsibility for this announcement


Enquiries

St. Helen's Finance Plc                                                            Tel: 020 7628 4004

Norman Kenvyn, Managing Director                                                        nk@shfplc.com
Rick Abbott, Chairman                                                                   ra@shfplc.com

Rivington Street Corporate Finance                                                 Tel: 020 7562 3393

Heena Karani                                                                   heena.karani@rs-cf.com

Contact Information

  • St Helens Finance plc