NSF.L Share News (NSF)

Non-Standard Finance business transfers to new firm owned by lenders

(Alliance News) - Non-Standard Finance PLC on Monday said the group's business has been transferred to a newly-incorporated company owned by its secured lenders, while announcing plans to delist in London as a result.

IN BRIEF: Non-Standard Finance continues progress to orderly wind down

Non-Standard Finance PLC - Wakefield, West Yorkshire-based consumer lending firm - Continues to progress towards an orderly wind down of the parent company of the group. Requests suspension of shares from July 7. Adds formal notice of delisting will follow. Expects lenders to take steps shortly, by enforcing their security, to appoint fixed charge receivers in respect of the shares in NSF Finco Ltd, an intermediate holding company within the group which holds the group's business. Once appointed, the receivers will effect the transfer of the shares to a newly-incorporated company owned by the secured lenders in exchange for the release of some of their secured debt and the provision of a new lending facility. Following this transfer, the company will no longer have any interest in the group's business, leaving no prospect of any return for the group's shareholders, as previously announced.

Non-Standard Finance slides as shareholders to be wiped out

(Alliance News) - Non-Standard Finance PLC on Friday said it will wind-down as it warned shareholder value will be wiped out by a plan to shore up the future of its Everyday Loans business.

UK shareholder meetings calendar - next 7 days

IN BRIEF: Non-Standard Finance says Alchemy no longer backs fundraise

Non-Standard Finance PLC - Wakefield, West Yorkshire-based consumer lending firm - Provides update on proposed recapitalisation and alternative transaction further to announcements on March 17 and April 14. Says Alchemy, the group's largest shareholder, is no longer willing, in the current environment, to participate in the equity raise under the recapitalisation.

EARNINGS UPDATES: Fidelity Special NAV up; Ferro-Alloy loss widens

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

SMALL-CAP WINNERS & LOSERS: Mears announces GBP20 million buyback

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Friday.

Non-Standard Finance chair to leave role; gross debt narrows

(Alliance News) - Non-Standard Finance PLC on Friday announced that Chair Charles Gregson will not stand for re-election at the company's annual general meeting.

TRADING UPDATES: AdEPT Technology shareholders greenlight takeover

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

Non-Standard Finance launches scheme of arrangement

(Sharecast News) - Non-Standard Finance said on Friday that it was launching a scheme of arrangement, which if successful will pave the way for a £95m public equity raise that would likely wipe out the equity of existing shareholders.

LONDON MARKET MIDDAY: FTSE 100 edges back toward recent record high

(Alliance News) - Stock prices in London were mostly higher at midday on Monday, as markets looked ahead to a busy week for economic data out of the UK.

Non-Standard Finance reiterates insolvency warning amid advisory talk

(Alliance News) - Non-Standard Finance PLC on Monday reiterated warnings of company-wide insolvency as it continues talks with the UK Financial Conduct Authority.

SMALL-CAP WINNERS & LOSERS: Non-Standard drops on insolvency warning

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Monday.

IN BRIEF: Non-Standard Finance loss widens; plans capital raise

Non-Standard Finance PLC - London-based subprime lender - Pretax loss in the first half of 2022 widens to GBP36.2 million from GBP7.5 million a year before. Revenue falls 17% to GBP56.6 million from GBP67.8 million, due to a reduction in its net loan book. Expects demand for its products to increase. Notes that all future growth plans will require it to complete a capital raise. Needs to complete a court based process in relation to its Everyday Loans trading entity first.

IN BRIEF: Non-Standard Finance narrows annual loss as revenue drops

Non-Standard Finance PLC - London-based subprime lender - Narrows annual loss in 2021. Pretax loss falls 78% to GBP29.6 million from GBP135.7 million, boosted by strong collections. Revenue shrinks to GBP131.4 million from GBP162.7 million in 2020. "The group continued to face significant operational, regulatory and financial challenges in 2021, many of which have continued into 2022," the company adds.