Doorstep lender NSF plunges to record low over breached covenants

Non-Standard Finance

28/09/2022 08:43

** Shares of sub-prime lender Non-Standard Finance  NSF.L 
down as much as 58.7% at 0.77p; hit record low
    ** Stock set to record its worst day ever
    ** Co says it needs fresh capital raise after covenants
breach in its first and second quarters  urn:newsml:reuters.com:*:nL4N30Z1D0
    ** Lender says it could remedy the breaches through
fundraising, but it would only be able to attempt to raise the
sum required after it has clarity on extent of liabilities
    ** Co says it will now look to pursue a court-based process
to redress its liabilities and  
    ** Says successful capital raise is crucial for it to stay
in business
    ** Including session losses stock down 69% YTD
 (Reporting by Sinchita Mitra in Bengaluru)
 ((Sinchita.mitra@thomsonreuters.com))