The following information is relevant for the customers of the following companies:

provident personal credit satsuma loans glo loans greenwood personal credit


EY Report


Ernst & Young LLP (“EY”) has been requested by Provident Personal Credit Limited (“PPC”) to provide a copy of the report it prepared, on PPC’s instructions, setting out EY’s independent valuation of equity and intercompany in a scenario with and without the proposed scheme of arrangement (“Scheme”); and a review of the estimated insolvency outcomes for PPC and Greenwood Personal Credit Limited (“Greenwood”) as an alternative to the Scheme (“the Report”).


The Report was prepared solely for the use of PPC and addressed issues specific to them. Accordingly, EY may not have addressed issues of relevance to you (“Recipients”). Further, the Report was concluded on 17 June 2021, and EY has not undertaken any further work since that time. Material events may therefore have occurred which will not be reflected in the Report.


The transmittal letter included at the front of the Report must be read as part of the Report as this includes the purpose, scope, basis and limitations of EY’s work.


Whilst EY is prepared to provide a copy of the Report to the Recipients, it is only on the basis that the Recipients acknowledge and agree for the benefit of EY that:


  1. no EY Person accepts any responsibility nor shall have any liability in contract, tort or otherwise to any Recipient or any other third party in relation to the contents of the Report;
  2. any use a Recipient makes of the Report is entirely at its own risk;
  3. the Report is strictly confidential and disclosure of all or any part of the Report by a Recipient to a third party may cause loss or damage to EY;
  4. no Recipient shall disclose all or any part of the Report to any other person, by any means, or refer to EY or any EY Person in connection with the Report;
  5. EY Persons shall be entitled to enforce these terms and conditions in accordance with the Contracts (Rights of Third Parties) Act 1999.


This agreement and any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with it or its subject matter or formation shall be governed by and construed in accordance with the law of England and Wales.


Each Recipient irrevocably agrees that the courts of England and Wales shall have exclusive jurisdiction to settle any dispute or claim (including non-contractual disputes or claims) arising out of or in connection with this agreement or its subject matter or formation.


For the purposes of this agreement “EY Persons” shall mean Ernst & Young LLP, any other member of the global network of Ernst & Young firms and any of their respective subcontractors, members, shareholders, directors, officers, partners, principals or employees (including but not limited to employees of Ernst & Young Services Limited). “EY Person” shall be construed accordingly.


If you wish to access the Report you should confirm your acceptance of and agreement to the terms of this agreement with EY by clicking on the “I AGREE” button below.


By clicking on the "I AGREE" button you signify that you agree to be bound by these terms and conditions. Such acceptance and agreement shall be deemed to be as effective as a written signature provided manually by you, and shall be deemed to satisfy any requirements of any applicable law to create a legally enforceable contract, notwithstanding that the agreement is written and accepted electronically.