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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Morses Club PLC    MCL   GB00BZ6C4F71

MORSES CLUB PLC

(MCL)
  Report
Delayed Quote. Delayed London Stock Exchange - 07/16 09:07:43 am
59 GBX   +13.03%
06/30MORSES CLUB : Resumption of U Account operations
PU
06/29MORSES CLUB : UK markets watchdog lifts restrictions on Wirecard
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06/29Morses Club digital accounts frozen after Wirecard collapse
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Morses Club : UK markets watchdog lifts restrictions on Wirecard

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06/29/2020 | 06:05pm EDT
FILE PHOTO: The headquarters of Wirecard AG is seen in Aschheim near Munich

By Huw Jones and Iain Withers

Britain's Financial Conduct Authority said late on Monday it would lift restrictions on German payments company Wirecard AG, allowing it to resume operations.

The markets watchdog imposed restrictions on the company's UK unit after its collapse last week.

"We have been working closely with Wirecard UK and other authorities over the last few days to ensure that the firm was able to meet certain conditions required to lift the restrictions we imposed on it," the regulator said. (https://bit.ly/2YHMxSX)

Several British fintech firms were forced to suspend services following the FCA's restrictions on Wirecard, leaving hundreds of thousands of accounts blocked.

"Customers will now, or very shortly, be able to use their cards as usual," the FCA said.

Wirecard said on Saturday it would proceed with business activities after filing for insolvency and an administrator was appointed on Monday.

Firms providing finance to poorer and vulnerable Britons who have difficulty accessing mainstream banking were among those hit, including Pockit and U Account, part of subprime lender Morses Club.

The government said anyone worried about not being able to receive welfare payments should contact its helplines.

Wirecard's woes have forced some firms to accelerate existing projects to switch to other services, including card provider Curve which said on Monday its services were back online.

But industry forum Emerging Payments Association (EPA) warned it could take months for others to do the same and urged the FCA to lift its Wirecard freeze as soon as possible.

"We predict dozens of corporate failures, hundreds of job losses and significant reductions in tax payments, unless it is removed right away," EPA said in a letter to the FCA.

Martin Lewis, founder of consumer website moneysavingexpert.com, said there was a reasonable expectation that consumers affected would get access to their money again by Wednesday or Thursday.

(Reporting by Huw Jones, Iain Withers in London and Ann Maria Shibu in Bengaluru; Editing by David Evans, David Clarke and Shounak Dasgupta)

Stocks mentioned in the article
ChangeLast1st jan.
MORSES CLUB PLC 13.03% 59 Delayed Quote.-61.90%
WIRECARD AG -7.32% 2.065 Delayed Quote.-97.94%
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Financials
Sales 2020 137 M 172 M 172 M
Net income 2020 13,6 M 17,1 M 17,1 M
Net Debt 2020 0,10 M 0,13 M 0,13 M
P/E ratio 2020 5,43x
Yield 2020 10,5%
Capitalization 68,5 M 86,3 M 86,0 M
EV / Sales 2019
EV / Sales 2020 0,50x
Nbr of Employees 547
Free-Float 60,2%
Chart MORSES CLUB PLC
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Technical analysis trends MORSES CLUB PLC
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Average target price 139,20 GBX
Last Close Price 52,20 GBX
Spread / Highest target 249%
Spread / Average Target 167%
Spread / Lowest Target -6,13%
EPS Revisions
Managers
NameTitle
Paul Mark Smith Chief Executive Officer & Executive Director
Stephen Ashley Karle Independent Non-Executive Chairman
Thomas Andrew Thomson Chief Financial Officer
Joanne Carolyn Lake Independent Non-Executive Director
Nigel Graham Knowles Senior Independent Non-Executive Director
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