UK lender NSF slides as share sale plan raises investor concerns

Non-Standard Finance

17/03/2023 08:51

** Shares of Non-Standard Finance Plc  NSF.L  fall as much
as 9.7% to 0.37p, are among top losers across all London shares
    ** The British doorstep lender plans to recapitalise by
raising ~95 mln pounds ($115.4 mln) through a public equity
raise, which would wipe out interests of existing shareholders
    ** Says proposal, backed by secured lenders and top
shareholder Alchemy, involves exploring cancelling LSE listing
    ** Co says equity raise depends on June 12 creditors vote
and a court hearing concerning a proposed compensation payment
scheme for some customers of its guarantor loans business
    ** Including session's losses, stock down ~12% YTD
 
 ($1 = 0.8232 pounds)

 (Reporting by Aby Jose Koilparambil in Bengaluru)
 ((abyjose.koilparambil@thomsonreuters.com))