MCL.L Share News (MCL)

Morses Club to constrain lending as funders refuse advance

(Alliance News) - Morses Club PLC on Tuesday said its funders will not provide a peak trading advance against its loan book from November 15 until February 2023.

AIM WINNERS & LOSERS: Made Tech jumps on contract with UK Home Office

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

TRADING UPDATES: Braemar launches gas desk; Aterian hails Azrar finds

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

LONDON MARKET CLOSE: Turbulent week ends in corporation tax cut U-turn

(Alliance News) - A tumultuous week in London came to a suitably dramatic close on Friday, as the UK's prime minister reversed a key aspect of the recent mini-budget and fired the chancellor.

LONDON MARKET MIDDAY: 'Mini-budget' U-turn hopes turbocharge shares

(Alliance News) - The FTSE 100's post-US inflation rally lost a bit of steam mid-morning Friday, before picking up pace once again as hopes the UK government will reverse unpopular fiscal policy moves continue to grow.

IN BRIEF: Morses Club says Chair Nigel Knowles to step down

Morses Club PLC - Nottingham, England-based home collected credit provider & online lender - Says Nigel Knowles will step down as chair on November 4, in order to dedicate more time to his role as chief executive officer of DWF Group PLC. Knowles has been CEO of the Manchester, England-based legal business since May 2020, having previously been chair. Says Knowles joined the Morses Club board in May 2016, when he was appointed as senior independent director, before becoming chair in March 2022.

Morses Club plummets as continues to be materially loss-making

(Alliance News) - Morses Club PLC shares were down on Friday as it said it is materially loss-making in the first half of its financial year 2023, due to redress claims in its Home Collected Credit division.

Morses Club 'materially loss-making' in H1

(Sharecast News) - Doorstop lender Morses Club said on Friday that it was "materially loss-making" in the six months ended 27 August and that it was "increasingly imperative" that it make "substantive progress" regarding a potential scheme of arrangement.

TRADING UPDATES: LoopUp, Surface raise capital; MaxCyte wins deal

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

IN BRIEF: Morses Club shares up on revised funding consortium terms

Morses Club PLC - Nottingham, England-based home collected credit provider and online lender - Agrees with its current funding consortium on an extension for its term-out clause to January 2023, from September 2023, with the facility remaining in place until March 31 next year. Reduces facility to to GBP25 million from GBP35 million, in line with revised funding requirements. Also agrees to continue temporary deferral of the testing of two covenants linked to profitability until October 2022.

Morses Club swings to full-year loss on unaffordable lending claims

(Alliance News) - Morses Club PLC on Thursday reported a swing to loss in financial 2022, due to a higher level of unaffordable lending claims, but recorded increased revenue.

Morses Club confident after swing to statutory loss

(Sharecast News) - Non-standard credit provider Morses Club reported an 11.2% improvement in full-year revenue on Thursday, to £111.4m.

UK earnings, trading statements calendar - next 7 days

IN BRIEF: Morses Club backs outlook for 2022 financial year results

Morses Club PLC - Nottingham, England-based home collected credit provider and online lender - Expects to meet its financial year guidance it released in July.

Morses Club takes steps to pursue scheme for customer redress claims

(Alliance News) - Morses Club PLC on Thursday said it has paused the processing of all new redress claims for "unaffordable lending", with immediate effect.