Inactive Instrument

Non-Standard Finance plc

NSF

GB00BRJ6JV17

Non-Standard Finance chair to leave role; gross debt narrows

April 14, 2023 at 09:18 am EDT

(Alliance News) - Non-Standard Finance PLC on Friday announced that Chair Charles Gregson will not stand for re-election at the company's annual general meeting.

The Wakefield, West Yorkshire-based consumer lending firm said senior independent non-executive director Niall Booker is standing for the election as chair at the AGM. The firm's last AGM was on May 26, 2022.

Meanwhile, the company said that as of December 31, its gross debt stood narrowed 23% to GBP255 million from GBP330.0 million at June 30. Non-Standard Finance said it has agreed the provisional terms of a release of debt with its secured lenders through a conversion into equity.

It explained that the lenders agreed to release GBP71 million of secured debt in exchange for new ordinary shares in the company. The scheme is subject to approval by a court.

Non-Standard Finance shares were 1.2% lower at 0.40 pence each on Friday afternoon in London.

By Tom Budszus, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about Non-Standard Finance plc

Non-Standard Finance Delists from London Bourse Amid Winddown	23-08-08	MT
Non-Standard Finance business transfers to new firm owned by lenders	23-07-10	AN
Non-Standard Finance to Delist from London Bourse in August	23-07-10	MT
Non-Standard Finance Shares Suspended Pending Delisting	23-07-07	MT
Non-Standard Finance continues progress to orderly wind down	23-07-05	AN
Non-Standard Finance slides as shareholders to be wiped out	23-06-23	AN
Non-Standard Finance Chairman to Step Down	23-06-23	MT
Non-Standard Finance Tumbles 56% Amid Preparations for Potential Delisting, Winddown	23-06-23	MT
Non-Standard Finance plc Announces Directorate Change	23-06-23	CI
Non-Standard Finance says Alchemy no longer backs fundraise	23-05-18	AN
FTSE 100 Closes Up 0.2% on US Debt-Ceiling Optimism	23-05-18	DJ
Non-Standard Finance plc Announces Toby Westcott to Step Down as Non-Executive Director	23-05-18	CI
Non-Standard Finance plc Auditor Raises 'Going Concern' Doubt	23-04-28	CI
EARNINGS UPDATES: Fidelity Special NAV up; Ferro-Alloy loss widens	23-04-28	AN
Mears announces GBP20 million buyback	23-04-28	AN
Transcript : Non-Standard Finance plc, 2022 Earnings Call, Apr 28, 2023	23-04-28
Non-Standard Finance plc Reports Earnings Results for the Full Year Ended December 31, 2022	23-04-28	CI
The FTSE 100 Closes Friday Up 0.4% Supported by Financial-Services Sector	23-04-14	DJ
Non-Standard Finance chair to leave role; gross debt narrows	23-04-14	AN
UK Banks' Modest Valuations Look Attractive Ahead of 1Q	23-04-14	DJ
Non-Standard Finance Chairman to Step Down; Successor Named	23-04-14	MT
UK's Non-Standard Finance agrees tentative deal with lenders	23-04-14	RE
Pound to be Driven by External Developments if -2-	23-03-23	DJ
FTSE 100 Index Closed Down 1% on Increased Global Banking Fears	23-03-17	DJ
Non-Standard Finance Launches Scheme, Recapitalization Plan	23-03-17	MT

Chart Non-Standard Finance plc

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Company Profile

Non-Standard Finance plc is a United Kingdom-based holding company. The Company is focused on branch-based lending. The Company provides unsecured credit to those that are either unable or unwilling to borrow from mainstream lenders. The Company operates through four segments: branch-based lending (Everyday Loans), guarantor loans (TrustTwo and George Banco), home credit (Loans at Home), and central (head office activities). Everyday Loans segment is specialized in unsecured branch-based lending to non-standard customers. The segment serves approximately 66,000 customers and it operates from a network of approximately 75 branches across the United Kingdom. The Company's Loans at Home segment is a provider of unsecured home credit. The Company's subsidiaries include S.D. Taylor Limited, Everyday Loans Holdings Limited, Everyday Loans Limited, Everyday Lending Limited, Non-Standard Finance Subsidiary Limited, Non-Standard Finance Subsidiary II Limited and other.

Sector

Consumer Lending

Calendar

2024-06-26 - Q4 2023 Earnings Release (Projected)

More about the company

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