INTERNATIONAL PERSONAL FINANCE - Proposed Amendments to Polish Consumer Legislation

POLISH FINANCIAL SUPERVISION AUTHORITY

UNI - EN REPORT No 43 / 2016

Date of issue: 2016-12-09

Short name of the issuer

INTERNATIONAL PERSONAL FINANCE

Subject

Proposed Amendments to Polish Consumer Legislation

Official market - legal basis

art. 56. 1. 2 of Act on Public Offering.

Unofficial market - legal basis

Contents of the report:

This morning, the Polish Ministry of Justice published a draft bill on its website aimed at strengthening anti-usury legislation in Poland. Amongst other things, it proposes further changes to the cap on non-interest costs that may be charged by lenders in connection with a consumer loan agreement that became effective in March this year. Ordinarily, consumer credit legislation falls within the remit of the Ministry of Finance. The level of the current cap is as follows: (i) a flat level of 25% of the loan value; and (ii) an additional cap of 30% per annum. The combined total of the flat 25% and the time-dependent 30% p.a. may not, in any event, exceed 100% of the loan value. Under the proposal, the flat level cap would be reduced to 10% of the loan value and the additional cap per annum would be reduced to 10%. The combined total of the flat 10% and the time-dependent 10% p.a. would not be able to exceed 75% of the loan value. We understand that the proposal will now be open to public consultation for 14 days and we will be contributing to this process. IPF is reviewing the proposal to assess the extent to which the profitability of its Polish business would be affected by the proposed changes, should they be implemented, and is also examining appropriate mitigation strategies to minimise any potential impacts. IPF will keep the market updated and further details will be communicated in due course. Investor relations and media contacts: International Personal Finance J ustin Lockwood - Investor Relations [phone] / [phone] Gergely Mikola - Media ([phone]

Annexes

File Description

INTERNATIONAL PERSONAL FINANCE PLC

(fullname of the issuer)

INTERNATIONAL PERSONAL FINANCE Finanse inne (fin)

(short name of the issuer) (sector according to clasification of the WSE in Warsow)

LS11 5BD Leeds

(post code) (city)

Building Three Leeds City Office Park Meadow Lane

(street) (number)

[phone] [phone]

(phone number) (fax)

(e-mail) (web site)

911347253

(NIP) (REGON)

SIGNATURE OF PERSONS REPRESENTING THE COMPANY

Date Name Position / Function Signature

2016-12-09 Gerard Jude Ryan Director