Lender PCF plummets on pulling out from UK banking market

PCF SA

09/11/2022 13:39

** UK lender PCF Group  PCF.L  down 68.8% at 0.3p 
    ** Co pulls out of Britain's banking market and plans to
cancel its share listing on AIM  urn:newsml:reuters.com:*:nL4N32525G
    ** Adds failed to raise capital or secure strategic options
to strengthen its consumer and corporate lending business
    ** Stock set to post its biggest intra-day loss ever
    ** "This has been a very difficult strategic decision for
the board to make given the consequences for the business,
colleagues, customers, intermediaries and shareholders" - CEO
Garry Stran
    ** Including session's loss, stock has fallen ~98% YTD
 (Reporting by Hani Kollathodi in Bengaluru)
 ((Hani.Kollathodi@thomsonreuters.com;))