Close Brothers Group plc and Close Brothers Finance plc
25 July 2025
UPDATE ON TIMING OF SUPREME COURT JUDGMENT IN RESPECT OF THE "HOPCRAFT" CASE
On 11 December 2024, Close Brothers Limited ("CBL") obtained permission from the Supreme Court of England and Wales (the "Supreme Court") to appeal the Court of Appeal's judgment against CBL in respect of the "Hopcraft" motor finance commissions case (the "Appeal").
The Appeal was heard by the Supreme Court between 1 April 2025 and 3 April 2025.
Today, the Supreme Court published on its website the scheduled date for publication of its judgment in respect of the Appeal [1] . The judgment is expected to be summarised at a brief hearing after the close of market trading at 4.35 p.m. on Friday, 1 August 2025 and made available on the Supreme Court website shortly thereafter.
The Supreme Court has informed CBL that the parties will not receive a copy of the draft judgment in advance of publication. CBL therefore does not know the outcome of the Appeal.
Close Brothers Group plc ("Close Brothers") will not be making any further announcement in respect of the Appeal until after the Supreme Court's judgment has been handed down and thereafter will make any further announcements as and when appropriate.
Enquiries
| Sophie Gillingham |
Close Brothers Group plc |
020 3857 6574 |
| Camila Sugimura |
Close Brothers Group plc |
020 3857 6577 |
| Sam Cartwright |
H/Advisors Maitland |
07827 254 561 |
About Close Brothers
Close Brothers is a leading UK merchant banking group providing lending, deposit taking and securities trading. We employ approximately 3,000 people, principally in the United Kingdom and Ireland. Close Brothers is listed on the London Stock Exchange.
Important Notices
Certain statements included or incorporated by reference within this announcement may constitute "forward-looking statements" in respect of the group's operations, performance, prospects and/or financial condition. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are sometimes, but not always, identified by their use of a date in the future or such words as "anticipates", "aims", "due", "could", "may", "will", "should", "expects", "believes", "intends", "plans", "potential", "targets", "goal" or "estimates" and other words and expressions of similar meaning. By their nature, forward-looking statements involve a number of risks, uncertainties and assumptions and actual results or events may differ materially from those expressed or implied by those statements. There are also a number of factors that could cause actual future operations, performance, financial conditions, results or developments to differ materially from the plans, goals and expectations expressed or implied by these forward-looking statements and forecasts. These factors include, but are not limited to, those contained in the group's annual report (available at: https://www.closebrothers.com/investor-relations). Accordingly, no assurance can be given that any particular expectation will be met and reliance should not be placed on any forward-looking statement. Additionally, forward-looking statements regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future.
Except as may be required by law or regulation, no responsibility or obligation is accepted to update or revise any forward-looking statement resulting from new information, future events or otherwise. Nothing in this document should be construed as a profit forecast. Past performance cannot be relied upon as a guide to future performance and persons needing advice should consult an independent financial adviser.
This announcement does not constitute or form part of any offer or invitation to sell, or any solicitation of any offer to subscribe for or purchase any shares or other securities in the company or any of its group members, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment or investment decisions relating thereto, nor does it constitute a recommendation regarding the shares or other securities of the company or any of its group members. Statements in this announcement reflect the knowledge and information available at the time of its preparation. Liability arising from anything in this announcement shall be governed by English law. Nothing in this announcement shall exclude any liability under applicable laws that cannot be excluded in accordance with such laws.
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