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Recognise Bank Ltd
Company Name:Recognise Bank Ltd Minimum fundraise:£0.00* High Share Price Bid:£1.06
Business Sector:Finance Total Funds Bid to Date:£0.00 Low Share Price Bid:£1.06
Auction period:31 Jul 2024 - 29 Oct 2024 Indicative Share Price:106.00 Average Share Price Bid:£1.06**
Company Details Below
*The company will accept oversubscription.
**In the event of significant oversubscription, shares will be allocated to bids at the average price and above.
NOTE: ASSET MATCH HAS NEGOTIATED AN “ASSET MATCH INVESTOR BONUS” FOR INVESTORS IN THIS TRANSACTION. SEE THE “OVERVIEW” SECTION BELOW FOR DETAILS.

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Recognise Bank Ltd

Recognise Bank Ltd

Market Cap: £60,981,507 Auction period: 31 Jul 2024 - 29 Oct 2024 Indicative price: 106.00

Live Started 68 days ago

Current Indicative Price 106.00p

Auction closes in 21 days


BUY ORDERS SELL ORDERS

BuyersShares Wanted Total Wanted Share Price (p)
1 61,716 61,716 106.00
-- -- -- 110.00
       
Share Price (p) Total Offered Shares OfferedSellers
106.00 1,264 1,264 1
110.00 3,190 1,926 1
       

BUY ORDERS

SELL ORDERS

Buyers Shares Total Shares Share Price (p) Total Shares Shares Sellers
1 61,716 61,716 106.00 1,264 1,264 1
-- -- -- 110.00 3,190 1,926 1
             

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Company info

Recognise Bank Ltd is a UK licensed bank that is focused on serving the UK SME market. It offers a range of business and personal savings products, as well as lending products that are tailored to meet the needs of the SME sector. The Bank is building on its existing technology infrastructure to develop its digital capability and enable the Bank to offer new and improved lending products and services to the SME sector.

Formerly part of City of London Group plc who were quoted on AIM (LSE: CIN) prior to the MVL and distribution to RBL.

www.recognisebank.co.uk

Auction Details

Recognise Bank Ltd was admitted to trading on Asset Match on 28 June 2023 at 106 pence per share (being the Equity Subscription price).

The first auction* is scheduled to close on 27 July 2023 at 4pm and subsequent auctions will be held quarterly thereafter (unless stated otherwise).

Participants can send orders via their exisiting broker or directly to shareDeal active. Further details can be found by clicking on the "Auction instructions" section below or alternatively by contacting dealing@assetmatch.com.

Price History (last 10)

Enlarge

First Auction*
PV27, the Bank’s largest shareholder, has expressed an interest in making available up to £100,000 to bid for RBL Shares at the first auction to be held pursuant to the RBL Matched Bargain Facility. The reason for PV27 making available such monies would be to acquire small holdings of shares. Accordingly, the maximum value of any offer to sell RBL Ordinary Shares to PV27 in that first auction operated pursuant to the RBL Matched Bargain Facility will be £10,000 (or equivalent to 9,434 No. of shares).  Minority shareholders holding 500 shares or less who wish to participate will not be charged commission if dealing via shareDeal active.

Auction instructions

To buy and sell shares in this company via Asset Match Private Market, you will need to use a stockbroker.

           -  shareDeal active

If you are a UK resident, our main broker and settlement agent for all CREST eligible companies on the AM Private Market is shareDeal active.

shareDeal active provide a competitively priced service for both certified and non-certified transactions. You can open an account online or by post using the form provided.

Alternatively, if you already have an account with shareDeal active and wish to place an order please contact the Dealing desk directly on 01892 510515 or deal online.

To sell a share certificate, the easiest way to trade is to set up a shareDeal active account online and once open post your share certificate with a completed CREST transfer form. Alternatively, you can open an account by post using the Asset Match Certificated Sale Pack which includes everything you will need.

It generally takes 5-7 days for your account to be open and shares available for trading.

           -  Already have a stockbroker

Over 60 UK brokers regularly trade and are set up to deal on our platform. These brokers can submit your instructions to shareDeal active on your behalf*.

Please note that not all brokers are able to deal in unquoted shares so contact us to confirm whether your broker is able to trade.

           -  Overseas

If you are based overseas and are interested in participating then please contact us directly by emailing dealing@assetmatch.com or by calling 020 7248 2788.

​​When buying and selling shares, please note that the Asset Match levy of 3% applies, with a minimum charge of £20 per trade (*additional fees may apply).

For more information on how the auction works then please click here.

Key People

Philip

Philip Jenks Chairman

Philip has a long and successful career in banking, including as a Non-Executive Director for Leeds Building Society between 2011 and 2020. He was an Independent Non-Executive Director and then Chair at Chartercourt FS Group during its successful banking licence application. In 2015 Philip was involved in the launch of Charter Savings, followed by its successful IPO in 2017. In 2020 he became Chair of Auden Group Ltd, a ‘for profit’ Social Enterprise intent on changing the face of UK consumer finance. In addition to being Chair of Recognise Bank, Philip chairs the Nomination Committee and is a member of both the Remuneration and Asset and Liability Committees.
   
Jean

Jean Murphy Chief Executive Officer

Jean has over 25 years’ experience of banking and capital markets for several leading global institutions as well as being an experienced investor and entrepreneur. Most recently she founded a successful wealth management business catering to wealthy families and individuals in Europe and the US investing across multiple asset classes globally. She previously held senior roles at a number of international banks, including Director of Private Banking at Morgan Stanley and Executive Director of Goldman Sachs Wealth Management Division and was also involved in building a wealth management business founded by former partners of Goldman Sachs. Jean is also on the board of Barts Charity, a 900 year old charity supporting care excellence in East London and world-leading medical research, and on the board of the Old Vic Endowment Trust. Jean graduated from Cambridge University with a degree in Computer Science and Philosophy.
   
Simon

Simon Wainwright Non-Executive Director

Simon has 40 years’ experience in global banking and insurance. He is Executive Vice President and Head of Europe, Middle East and Africa at global reinsurer Reinsurance Group of America (RGA). Prior to this role Simon held several senior positions at HSBC, including CEO, HSBC Ireland; Head of Business Banking, UK; and COO, Commercial, Corporate and Structured Finance. Simon is also a Non-Executive Director of National Counties Building Society. He holds degrees from The London Institute of Banking and Finance, Oxford Brookes Business School and Henley Business School, and is also a Chartered Director, IOD. Simon is chair of Risk Committee and is a member of the Nomination Committee.
   
Moorad

Moorad Choudhry Non-Executive Director

Moorad was latterly Treasurer, Corporate Banking Division at The Royal Bank of Scotland, and is Honorary Professor at University of Kent Business School. During a 30-year career in the City of London, Moorad's positions included Head of Treasury at KBC Financial Products, Vice President in structured finance services at JPMorgan Chase and government bond primary dealer at ABN Amro Hoare Govett Limited. Moorad is a Fellow of the Chartered Institute for Securities and Investment, and a Freeman of the Worshipful Company of International Bankers. He is author of The Principles of Banking (John Wiley & Sons 2012). Moorad chairs the Asset & Liability Committee and is a member of the Audit, Risk and Remuneration Committees.
   
Richard

Richard Gabbertas Non-Executive Director

Richard studied economics and law before qualifying as a chartered accountant and joining KPMG in 1980, becoming a partner in 1995. He spent 23 years in the Financial Services Practice and led the Regional Financial Services Practice, providing audit and advisory services to a range of household names, from established FTSE 100 banks and building societies, through to new entrants. He has extensive knowledge of financial services and a deep understanding of banking regulation. Richard is Chairman of the Audit Committee at Arbuthnot Latham. Richard is Chair of the Audit Committee and is also a member of the Risk Committee.
   
Ruth

Ruth Parasol Non-Executive Director

Ruth is a successful entrepreneur and one of the world’s most successful self-made businesswomen. She currently advises over £1bn AUM within her own private family office with international businesses active in Real Estate, Asset Management and Private Equity. A female pioneer in male-dominated industries, Ruth was the first woman to IPO her company, Party Gaming Plc, onto the LSE FTSE in 2005 for $8.46bn. The Parasol Foundation Trust, of which Ruth is principal benefactress, has awarded over £35m to a series of ambitious projects in Gibraltar, UK, US, Israel and further afield. The Foundation focuses on creating opportunity and advancing women in science and arts. Recent initiatives include the Parasol Foundation Women in Photography Project at the V&A, and The Parasol Foundation Center Women’s Health and Cancer Research, which is researching advanced treatments for women’s cancers and exploring approaches for reducing the likelihood of premature birth.