Share Name Share Symbol Market Type Share ISIN Share Description
Morses Club Plc LSE:MCL London Ordinary Share GB00BZ6C4F71 ORD GBP0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.50 1.8% 85.00 84.40 85.00 85.00 83.00 85.00 317,983 16:29:45
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 100.2 0.5 0.2 500.0 113

Morses Club PLC Change of Registered Office

28/04/2021 7:00am

UK Regulatory (RNS & others)

Morses Club (LSE:MCL)
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From Apr 2021 to Jun 2021

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RNS Number : 7905W

Morses Club PLC

28 April 2021

28 April 2021

Morses Club PLC

Change of Registered Office

Morses Club PLC ("Morses Club" or the "Company"), an established provider of non-standard financial services, announces that, with effect from today, 28 April 2021, the Company's registered office address has changed to Building 1, The Phoenix Centre, 1 Colliers Way, Nottingham NG8 6AT.


For further information please contact:

 Morses Club PLC                                  Tel: +44 (0) 330 
  Paul Smith, Chief Executive Officer              045 0719 
  Graeme Campbell, Chief Financial Officer 
 Peel Hunt (Nomad)                                Tel: +44 (0) 20 
  Andrew Buchanan / James Britton / Rishi          7418 8900 
  Shah / Duncan Littlejohns (Investment Banking 
 Camarco                                          Tel: +44 (0) 20 
  Jennifer Renwick / Oliver Head / Jake            3757 4994 

Notes to Editors

About Morses Club

Morses Club is an established provider of non-standard financial services in the UK. The Group consists of Morses Club, the UK's second largest home collected credit ("HCC") provider, and Shelby Finance Limited, Morses Club's Digital division, which operates under two online brands, Dot Dot Loans, an online lending provider, and U Account, which offers online e-money current accounts. The Group's growing Digital capabilities and scalable, highly invested IT platform has enabled Morses Club to deliver an increasingly broad range of financial products and services to the non-standard credit market.

UK HCC is considered to be a specialised segment of the broader UK non-standard credit market. UK HCC loans are typically small, unsecured cash loans delivered directly to customers' homes. Repayments are collected in person during weekly follow-up visits to customers' homes. UK HCC is considered to be stable and well-established, with approximately 1.6 million(1) people using the services of UK HCC lenders.

Morses Club's HCC division is the second largest UK Home Collected Credit (HCC) lender with 152,000 customers throughout the UK. The majority of the Company's customers are repeat borrowers and the HCC division enjoys consistently high customer satisfaction scores of 97%(2) . In 2016, the Morses Club Card, a cashless lending product, was introduced and in 2019 the Company introduced an online customer portal for its HCC customers, which now has over 124,000 registered customers.

The Group's growing Digital division, Shelby Finance, operates under two online brands. Dot Dot Loans provides online instalment loans of up to 48 months to c. 23,000 active customers. U Account is a leading digital current account provider offering an alternative to traditional banking by providing a fully functional agency banking service. U Account currently has c. 6,000 customers.

Morses Club listed on AIM in May 2016.

About the UK non-standard credit market

The UK non-standard credit market, of which UK HCC is a subset, consists of both secured and unsecured lending and is estimated to comprise around 10 million consumers(3) and total loan receivables of GBP10.7bn(4) .

Non-standard credit is the provision of secured and unsecured credit to consumers other than through mainstream lenders. Lenders providing non-standard credit principally lend on an unsecured basis and the market is characterised by high frequency borrowing. Approximately 2 million people move annually between standard and non-standard markets(4) .

Since February 2014, unsecured personal lending has grown from GBP161 billion to GBP225 billion in February 2020. It has since contracted to GBP206 billion in October 2020(5) .

(1 High Cost Credit Review ANNEX 1 - July 2017 2 Independent Customer Satisfaction Survey conducted by Mustard 3 FCA High Cost Credit Review Technical Annex 1: CRA data analysis of UK personal debt - July 2017 4 Apex Insight - Non-Prime Consumer Credit: UK Market Insight Report - September 2019 5 Table A5.2, Bank of England Money and Credit Bank stats October 2020)

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(END) Dow Jones Newswires

April 28, 2021 02:00 ET (06:00 GMT)

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