- In response to press speculation, Virgin Money confirmed that on the evening of 7 May 2018, it received a preliminary and conditional proposal from CYBG to acquire Virgin Money.

Under the terms of the proposal, Virgin Money shareholders would receive 1.1297 new CYBG shares for each Virgin Money share.

The Board of Virgin Money said it is reviewing this proposal.

There can be no certainty either that an offer will be made nor as to the terms of any offer, if made. Accordingly, shareholders are advised to take no action in relation to this proposal.

A further announcement will be made in due course.

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