Australia's EML Payments jumps after regulator lifts co's UK unit new customer restriction

EML Payments

24/04/2024 04:44

** Shares of EML Payments  EML.AX  jump as much as 11.7% to
A$1.195, their biggest intraday pct gain since March 15 
    ** The payment solutions firm says its UK unit, Prepaid
Financial Services (PFSL), received a correspondence from the
Financial Conduct Authority 
    ** Says correspondence advises authority was satisfied that
PFSL has appropriate structure and risk management control in
place 
    ** Says as a result, the Voluntary Application for
Imposition of Requirements preventing PFSL from entering into
new customer contracts would no longer apply 
    ** Shares hit their highest level since April 2
    ** Around 5.2 mln shares exchange hands vs the 30-day
average of 3.7 mln shares 
    ** Stock up 35.4% YTD, as of last close 

    

 (Reporting by Echha Jain in Bengaluru)
 ((Echha.jain@thomsonreuters.com))