15th Sep 2022 12:00
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.
Current stock price: 5.54 pence, up 7.6% on Thursday
12-month change: down 93%
By Sophie Rose; [email protected]
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