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Dear Traders,

We know that the Dividend Announcement on Friday has caused frustration and disappointment, and has been a stressful experience for many of you.


Firstly, anyone who is concerned about their well-being, or the well-being of another user should consider the resources available on our 
Safer Gambling page or these mental health resources.

We feel that you deserve additional background as to how we have reached these decisions.


Over recent months, Football Index has sustained substantial losses. The Board agreed a recovery plan aimed at stemming these losses whilst retaining the dividend payments at current levels. It was hoped that this would stimulate a market recovery which would allow for the higher dividend to continue to be paid prior to the normal annual review, and for an exciting and affordable Dividend to be announced at that time. The issuance of new shares and IPOs were key deliverables of that recovery plan, amongst other initiatives to rejuvenate the market.

Our team worked hard to deliver against that recovery plan. We made increased efforts to maintain the levels required when they were at risk. However, it became clear that important KPIs of the plan were not being sustained to a level that would support the ongoing payment of dividends at those levels, despite substantial progress being made against those objectives.

While the Board worked to form a new plan to retain the maximum sustainable level of dividends, the Board decided to continue business as usual until a new plan was agreed and adopted, on the basis that the Board considered that this would be less disruptive to, and in the best interests of stakeholders. Once it was clear that the reduction and restructure of dividends to the degree announced was necessary, we suspended placing issuance orders and announced the reduction and restructure to customers as soon as reasonably practicable. We will notify customers if and when these are put into operation again. There was no intent to mislead customers in these transactions, or in the announcement of a Q&A session.


Once again, anyone concerned about their well-being or the well-being of another user should reach out through the resources detailed.

 
We would also like to stress that while we are aware of the fact that our latest announcement proved upsetting for many of you, we have a zero-tolerance policy with regards to abuse and threats to our employees. Any such behaviour will not be tolerated, and we will pursue all necessary measures should they arise.

As ever, the long-term sustainability of the platform remains our main priority.

Football Index HQ

Statement from FI HQ

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