EML Payments hits 8-yr low on decision to cease onboarding more customers

EML Payments

31/10/2022 24:06

** Shares of payments solutions provider EML Payments
 EML.AX  slump as much as 30.2% to A$0.44, their lowest since
Oct 13, 2014
    ** Co agrees to temporarily cease onboarding new customers,
agents and distributors in relation to its UK unit Prepaid
Financial Services
    ** Adds that financial impact of this temporary measure is
expected to reduce group revenue by less than A$5 mln ($3.20
mln) in fiscal 2023
    ** Stock set to mark worst session since April 26, if losses
hold
    ** More than 12.3 mln shares change hands, compared with the
30-day average of about 2.6 mln shares 
    ** As of last close, EML shares down ~80.5% YTD
    ($1 = 1.5605 Australian dollars)
 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))