StockMarketWire.com - Financial services company IFG said it was working with takeover suitor Epiris to boost its regulatory capital position, as requested by the UK's Financial Conduct Authority.
Last week, IFG said boosting its capital position would impact its ability to gain the regulator's approval of a takeover of the company by SaintMichelCo, a subsidiary of funds of which Epiris was the general partner.
'By way of update to that announcement, IFG confirms that it has been working with Epiris in order to address the FCA's revised capital requirements with a view to obtaining the approval of the FCA to the transaction,' IFG said.
'The decision of the FCA is expected in the week commencing 12 August 2019.'
'IFG will provide a further update to shareholders in due course.'
At 1:28pm: [LON:IFP] IFG Group PLC share price was +15.5p at 182.5p
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