What is PISCES?
PISCES — Private Intermittent Securities and Capital Exchange System — is a UK regulatory framework overseen by the Financial Conduct Authority (FCA). It allows shareholders in private companies to trade shares in controlled, time-limited windows, without the company needing to list on a public exchange.
A PISCES event takes place inside an FCA-approved operator's regulated environment, with proper investor protections and disclosure requirements in place.
What SFN has done
SFN has completed its internal preparatory work for a future PISCES liquidity event. This includes the structure of this investor relations website, the establishment of communication channels with shareholders, and ongoing dialogue with potential regulated operators.
No PISCES operator has been formally appointed. No trading window or rights issue is currently open or scheduled.
What happens next
When a PISCES event is planned, SFN will announce it prominently on this page and notify all registered investors in advance. The announcement will include key dates, risk disclosures, investor documentation, and a direct link to the regulated operator's platform.
In the meantime, existing shareholders and prospective investors can register interest via the Investor Centre. Registration creates no obligation on either side.