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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 | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.21 | 0.20 | 0.40 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMCL
RNS Number : 5706K
Morses Club PLC
29 August 2019
29 August 2019
Morses Club PLC
Director/PDMR Shareholding
Morses Club PLC ("Morses Club" or "the Company"), the UK's second largest home collected credit ("HCC") lender, announces that on 29 August 2019, Peter Ward, a Non--Executive Director, sold 200,000 ordinary shares of 1 pence each in the Company at a price of 126.875 pence per share and bought into his SIPP 200,000 ordinary shares at a price of 127.125 pence per ordinary share.
Following this transaction, Mr Ward's beneficial interest in the Company remains unchanged at 400,000 ordinary shares, which represents 0.3% of the Company's issued share capital.
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
1 Details of the person discharging managerial responsibilities/person closely associated a) Name Peter Ward ------------------------------------- ------------------------------------ 2 Reason for the notification --------------------------------------------------------------------------- a) Position/status Non-Executive Director ------------------------------------- ------------------------------------ b) Initial notification /Amendment Initial Notification ------------------------------------- ------------------------------------ 3 Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor --------------------------------------------------------------------------- a) Name Morses Club PLC ------------------------------------- ------------------------------------ b) Legal Entity Identifier 2138009PVBE5FDT58R09 ------------------------------------- ------------------------------------ 4 Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted --------------------------------------------------------------------------- a) Description of the financial Ordinary shares of 1 pence each instrument, type of instrument: GB00BZ6C4F71 Identification code: ------------------------------------- ------------------------------------ b) Nature of the transaction Transfer to SIPP ------------------------------------- ------------------------------------ c) Currency GBP ------------------------------------- ------------------------------------ d) Price(s) and volume(s) (i) Sale: ------------------------------------- ------------------------------------ 126.875 pence 200,000 shares ------------------------------------- ----------------- ----------------- (ii) Purchase into SIPP: ------------------------------------ 127.125 pence 200,000 shares ----------------- ----------------- e) Aggregated information 200,000 ordinary shares of 1 - Aggregated volume pence (sold) at - Price 126.875 pence per ordinary share 200,000 ordinary shares of 1 pence (bought into SIPP) at 127.125 pence per ordinary share ------------------------------------- ------------------------------------ f) Date of the transaction 29 August 2019 ------------------------------------- ------------------------------------ g) Place of the transaction AIM ------------------------------------- ------------------------------------
For further information
Morses Club PLC Tel: +44 (0) 330 Paul Smith, Chief Executive Officer 045 0719 Andrew Hayward, Chief Financial Officer Panmure Gordon (UK) Limited (Nomad and Joint Tel: +44 (0) 20 Broker) 7886 2500 Fabien Holler / Atholl Tweedie (Corporate Finance) Erik Anderson (Corporate Broking) finnCap Tel: +44 (0) 20 Jonny Franklin-Adams / Anthony Adams (Corporate 7220 0500 Finance) Tim Redfern / Richard Chambers (Corporate Broking) Camarco Tel: +44 (0) 20 Ed Gascoigne-Pees / Jennifer Renwick / 3757 4984 Kimberley Taylor
Notes to Editors
About Morses Club
Morses Club is the second largest UK Home Collected Credit (HCC) lender with 235,000 customers and over 1,900 agents across 95 locations throughout the UK.
The Company offers a range of loan products to its customers through its extensive self-employed agent network. The majority of the Company's borrowers are repeat customers and the Company enjoys consistently high customer satisfaction with scores of 97% or above(1) .
The Company is using technology to broaden its offering and provide new products to ensure customers can access credit with the flexibility they require. In April 2016, its cashless lending product, the Morses Club Card, was introduced, enabling its customers to buy online as well as on the high street. Dot Dot Loans, the Company's first online instalment product, was launched in March 2017.
Morses Club successfully 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(2) .
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.
Since February 2014, unsecured personal lending has grown from GBP161 billion to GBP216 billion in February 2019(3) .
(1 Independent Customer Satisfaction Survey conducted by Mustard 2 FCA High Cost Credit Review Technical Annex 1: CRA data analysis of UK personal debt - July 2017 3 Source: Table A5.2, Bank of England Money and Credit Bank stats February 2019)
About UK Home Collected Credit
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(2) people using the services of UK HCC lenders.
(2 High Cost Credit Review ANNEX 1 - July 2017)
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
August 29, 2019 05:54 ET (09:54 GMT)
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