Helix Investment Management SLP - Privilege Wealth PLC

Hamilton, Bermuda – January 23, 2018 – In a filing with the Bermuda Stock Exchange (“BSX”) Helix Investment Management SLP notified that the Board of Privilege Wealth PLC (the “Company”) intends to place the Company into creditors’ voluntary liquidation.  The full filing stated:

Helix Investment Management SLP (“Helix”) has been notified as a creditor of Privilege Wealth PLC (the “Company”) that the board of directors intends to place the Company into creditors’ voluntary liquidation. A general meeting of shareholders has been called for 23 January 2018 to vote on this decision and a meeting of the creditor’s scheduled for the same day.

Helix has duly filed its Proof of Debt against the Company and had, prior to receiving notification of the proposed liquidation, commenced recovery of its loans against the Company and has exercised its rights over collateral that it held in security. Helix has a comprehensive enforcement plan to seek to recover its outstanding loans from the Company and has commenced action for enforcement of its security rights.

Helix will provide its noteholders a more detailed circular following the anticipated meeting of creditors.