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News for Members

08 May 2016

Morses Club - Admission to AIM and First Day of Dealings

Subsequent to our recent news article regarding Morses Club's plans to list on the stock market, the company released the following announcement on the 5th May:

Morses Club, a leading UK non-standard consumer finance company, announces that further to its announcement of 29 April 2016, its ordinary share capital, consisting of 129,500,000 ordinary shares, has today been admitted to AIM, a market operated by the London Stock Exchange plc, under the ticker “MCL”.

The Placing Price was set at 108 pence per Placing Share and the Placing raised £68.5 million of gross proceeds. Based on the Placing Price, the market capitalisation of Morses Club at Admission is approximately £140 million. The Company has a free float of approximately 44%.

Paul Smith, Chief Executive Officer, said: “We believe that Morses Club has great potential, not only because of our products and the personalised nature of our services, but also because the UK home collected credit market is changing. We believe that both market consolidation and increasing digitisation represent attractive opportunities and that following our admission to AIM we are well placed to make the most of these opportunities for the benefit of our shareholders.”

The Company's AIM admission document can be viewed at www.morsesclubplc.com.

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