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
  -2.20 -2.52% 85.20 83.00 88.80 88.20 85.20 88.20 87,347 08:58:29
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 100.2 0.5 0.2 501.2 113

Morses Club PLC Director/PDMR Shareholding

14/05/2021 9:06am

UK Regulatory (RNS & others)

Morses Club (LSE:MCL)
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RNS Number : 6700Y

Morses Club PLC

14 May 2021

14 May 2021

Morses Club PLC

Director/PDMR Shareholding

Morses Club PLC ("Morses Club" or the "Company"), an established provider of non-standard financial services, announces that on 13 May 2021, Gary Marshall, Chief Operating Officer of Morses Club, purchased 250,000 ordinary shares of 1 pence each in the Company ("Ordinary shares") at a price of 61.25p.

Following this transaction, Mr Marshall owns 350,000 shares in Morses Club, which represents 0.26% of the Company's issued share capital.


 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                    Gary Marshall 
     --------------------------------------  ------------------------------------ 
 2    Reason for the notification 
 a)   Position/status                         Chief Operating Officer 
     --------------------------------------  ------------------------------------ 
 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               Purchase of Ordinary shares 
     --------------------------------------  ------------------------------------ 
 c)   Currency                                GBP 
     --------------------------------------  ------------------------------------ 
 d)   Price(s) and volume(s)                       Price              Volume 
     --------------------------------------  -----------------  ----------------- 
                                                6 1.25 pence      250,000 shares 
                                             -----------------  ----------------- 
 e)   Aggregated information 
       - Aggregated volume 
       - Price                                  250,000 Ordinary shares 
                                                6 1.25 pence per Ordinary share 
     --------------------------------------  ------------------------------------ 
 f)   Date of the transaction                 13 May 2021 
     --------------------------------------  ------------------------------------ 
 g)   Place of the transaction                AIM 
     --------------------------------------  ------------------------------------ 

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                   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 electronically, or physically to customers' homes. Repayments are collected either remotely or in person, during weekly follow-up visits to customers' homes.

Morses Club's HCC division is the second largest UK Home Collected Credit (HCC) lender with 151,000 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 98% (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 107,000 registered customers.

The Group's growing Digital division, Shelby Finance Limited, operates under two online brands. Dot Dot Loans provides online instalment loans of up to 60 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 GBP197 billion in March 2021 (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 March 2021)

(Review ANNEX 1 - July 2017)

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May 14, 2021 04:06 ET (08:06 GMT)

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