London Stock Exchange Welcomes Virgin Money Holdings (UK) plc to the Main Market to the Main Market

London Stock Exchange today welcomed Virgin Money Holdings (UK) plc ("Virgin Money" or the "Company") to its main market for listed securities. The Company will use the gross primary proceeds it receives from its offer (of £150 million) to support its growth plans and capital ratios and to enhance its financial flexibility going forwards.

Since Virgin Money completed its acquisition of Northern Rock plc on 1 January 2012, it has transformed and revitalised its business. Virgin Money is an uncomplicated, retail-only UK bank which is primarily focused on providing residential mortgages, savings and credit cards, along with a range of complimentary financial products.

The Company’s strategy is focused on creating a business that can continue to grow strongly, maintain a high quality balance sheet, and deliver shareholder returns through both capital growth and progressive dividend payments.

Virgin Money’s ambition is to deliver good value to its customers, to treat employees well, to make a positive contribution to society, to build positive relationships with its corporate partners and to deliver sustainable profits to shareholders. This ambition underpins the Company’s differentiated approach to banking.

Jayne-Anne Gadhia, Chief Executive of Virgin Money, said:

"Our capability to deliver growth at meaningful scale, the quality of our balance sheet and the fact that we are unburdened by legacy issues makes us stand apart from other banks, and these strengths give us the potential to deliver ongoing returns to our shareholders through both capital growth and progressive dividend payments."

BofA Merrill Lynch and Goldman Sachs International were Joint Sponsors, Joint Global Co-ordinators and Joint Bookrunners.

Barclays Bank plc and Citigroup Global Markets Limited were Joint Bookrunners. Keefe, Bruyette & Woods, a Stifel Company, was Joint Lead Manager. Virgin Money was advised by Allen & Overy LLP and KPMG LLP.