PALMER DOLLAR FINANCE

• ⚠

  Material uncertainty over going concern

  Notwithstanding the outcome of the stress test and the improved financial position of the Group following the successful refinancing in March 2026, the Group and Company's Directors acknowledge that there remain risks inherent due to the volatility experienced in the markets in which the Group operates and the limited visibility over future forecasts. If the Group trades at the levels modelled in the stress test during the going concern assessment period, the Group is forecast to have positive liquidity throughout this period. However, if the conditions modelled in the stress test continued beyond the defined going concern assessment period it is possible that a sale, further restructuring or other fundamental re-organisation of the Group could be required. There is no guarantee that the Group could carry out such a re-organisation nor if such activities would be sufficient in this stress test scenario. As a result, although outside of the defined going concern assessment period, as the Company relies on a letter of support, this represents potential events or conditions of sufficient significance to indicate the existence of a material uncertainty which may cast significant doubt over the Company's ability to continue as a going concern should these events or conditions be realised.

Accounting basis

FRS 101

Reporting scope

Standalone (parent only)

Auditor

PricewaterhouseCoopers LLP

Audit opinion

Unqualified (clean)

Going concern

Material uncertainty disclosed

“Notwithstanding the outcome of the stress test and the improved financial position of the Group following the successful refinancing in March 2026, the Group and Company's Directors acknowledge that there remain risks inherent due to the volatility experienced in the markets in which the Group operates and the limited visibility over future forecasts. If the Group trades at the levels modelled in the stress test during the going concern assessment period, the Group is forecast to have positive liquidity throughout this period. However, if the conditions modelled in the stress test continued beyond the defined going concern assessment period it is possible that a sale, further restructuring or other fundamental re-organisation of the Group could be required. There is no guarantee that the Group could carry out such a re-organisation nor if such activities would be sufficient in this stress test scenario. As a result, although outside of the defined going concern assessment period, as the Company relies on a letter of support, this represents potential events or conditions of sufficient significance to indicate the existence of a material uncertainty which may cast significant doubt over the Company's ability to continue as a going concern should these events or conditions be realised.”

Significant events

• “Videndum Group Limited ("VGL") was incorporated on 6 August 2025 with a registered number 16632477.”
• “On 5 September 2025 VGL entered into a share purchase agreement with Videndum plc to purchase all shares free from all encumbrances and together with all rights attached in the subsidiaries of Videndum plc.”
• “On 15 September 2025, the investment in shares held by Videndum Group Limited has been provided as security against the Multicurrency Revolving Credit Facility held by the Group.”
• “On 10 March 2026, Videndum plc published a combined prospectus and circular (the "Prospectus") detailing the Firm Placing and Placing and Open Offer to raise gross proceeds of £85 million (the "Capital Raising") and the broader Refinancing.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

5

last 12 months

Capital events

0

last 24 months

Officers appointed

1

last 12 months

Officers resigned

1

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.