Morses Club PLC Director/PDMR Shareholding (8233J)
24 December 2020 - 8:56PM
UK Regulatory
TIDMMCL
RNS Number : 8233J
Morses Club PLC
24 December 2020
24 December 2020
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 24
December 2020, Dave Belmont, its Company Secretary , purchased
50,258 ordinary shares of 1 pence each in the Company ("Ordinary
shares") at a price of 49.743p.
Following this transaction, Mr Belmont owns 50,258 shares in
Morses Club, which represents 0.04% of the Company's issued share
capital.
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING
MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
Details of the person discharging managerial responsibilities/person
1 closely associated
Name Mr Dave Belmont
a)
-------------------------------------- ------------------------------------
Reason for the notification
2
----------------------------------------------------------------------------
Position/status Company Secretary
a)
-------------------------------------- ------------------------------------
Initial notification /Amendment Initial Notification
b)
-------------------------------------- ------------------------------------
Details of the issuer, emission allowance market participant,
3 auction platform, auctioneer or auction monitor
----------------------------------------------------------------------------
Name Morses Club PLC
a)
-------------------------------------- ------------------------------------
Legal Entity Identifier 2138009PVBE5FDT58R09
b)
-------------------------------------- ------------------------------------
Details of the transaction(s): section to be repeated
4 for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
----------------------------------------------------------------------------
Description of the financial Ordinary shares of 1 pence each
a) instrument, type of instrument: GB00BZ6C4F71
Identification code:
-------------------------------------- ------------------------------------
Nature of the transaction Purchase of Ordinary shares
b)
-------------------------------------- ------------------------------------
Currency GBP
c)
-------------------------------------- ------------------------------------
Price(s) and volume(s) Price Volume
-------------------------------------- ----------------- -----------------
49.743 pence 50,258 shares
----------------- -----------------
d)
-------------------------------------- ------------------------------------
Aggregated information
e) - Aggregated volume
- Price 50,258 Ordinary shares
49.743 pence per Ordinary share
-------------------------------------- ------------------------------------
Date of the transaction 24 December 2020
f)
-------------------------------------- ------------------------------------
Place of the transaction AIM
g)
-------------------------------------- ------------------------------------
For further information please contact:
Morses Club PLC Tel: +44 (0) 330
Paul Smith, Chief Executive Officer 045 0719
Andy Thomson, Interim Chief Financial Officer
Peel Hunt (Nomad) Tel: +44 (0) 20
Andrew Buchanan / James Britton / Rishi 7418 8900
Shah / Duncan Littlejohns (Investment Banking
Division)
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 inc reasingly
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 dir e ctly 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 170,000 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. 20,000 active customers. U Account
is a leading digital current account provider offering an altern
ative to traditional banking by providing a fully functional agency
banking service. U Account currently has c. 15,000 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 borrowin g.
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)
(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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DSHUSVKRRSUUURA
(END) Dow Jones Newswires
December 24, 2020 04:56 ET (09:56 GMT)
Morses Club (LSE:MCL)
Historical Stock Chart
From Apr 2024 to May 2024
Morses Club (LSE:MCL)
Historical Stock Chart
From May 2023 to May 2024