Director dealings: Morses Club's banker shows faith in non-standard lender
Morses Club director Peter Ward has snapped up £236,000 worth of shares in the UK's second largest home collected credit lender.
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Non-executive Ward, these days a venture capital specialist after 23 years as a commercial and corporate banker at RBS, bought 200,000 shares at a price of 118p per share, doubling his stake in the company following another purchase of the same size in October.
That previous deal was made at a price of 129.625p, which was around the company's all-time high after floating on AIM in May with a £68.5m placing priced at 108p.
Morses Club, which markets a range of non-standard loan products through a combination of traditional and online marketing channels, floated as its management and backers saw great potential for its products and the personalised nature of its services amid what is felt to be a changing market for home-collected credit in the UK.
October's interim results for the twenty-six weeks to 27 August showed revenue up 8% to £47.2m on a net loan book that grew 5% from last year to £56.2m thanks in part to a 2.1% increase in customer numbers to over 207,000, helped by three acquisitions.
Although profits were just below flat, the company paid a maiden interim dividend of 2.1p per share and said it expected market activity to increase in the second half, with market share growth coming via a focus on more territory builds, acquisitions and increased lending.
"The company continues to make good progress on its growth strategy of broadening its reach and potential customer base through the development of our digital platform to provide additional services and products for our existing and new customers, accessing different markets," said CEP Paul Smith.
"The early success of the Morses Club Card gives the company confidence that there is significant demand for new products."
Top Director Buys
Morses Club (MCL)
Director name: Ward,Peter
Amount purchased: 200,000 @ 118.00p
Value: £235,999.99
Satellite Solutions Worldwide Group (SAT)
Director name: Clifton,Simon
Amount purchased: 2,500,000 @ 7.70p
Value: £192,500.00
Coats Group (COA)
Director name: Bull,Nicholas
Amount purchased: 150,000 @ 52.50p
Value: £78,750.00
Marechale Capital (MAC)
Director name: Warde-Norbury,Mark W A
Amount purchased: 4,050,502 @ 1.75p
Value: £70,883.79
Coats Group (COA)
Director name: Boddie,Simon
Amount purchased: 100,000 @ 51.50p
Value: £51,500.00
Henderson Group (HGG)
Director name: Desai,Kalpana
Amount purchased: 20,000 @ 234.63p
Value: £46,926.00
Senior (SNR)
Director name: Bodenham,Andrew
Amount purchased: 20,366 @ 192.00p
Value: £39,102.72
Bca Marketplace (BCA)
Director name: Palmer-Baunack,Avril
Amount purchased: 10,684 @ 186.13p
Value: £19,885.86
Advanced Oncotherapy (AVO)
Director name: Vanni ,Enrico Cipro
Amount purchased: 25,000 @ 59.75p
Value: £14,937.50
Anglo American (AAL)
Director name: Rutherford ,Jim
Amount purchased: 1,172 @ 1,138.00p
Value: £13,337.36
Anglo American (AAL)
Director name: Hampton,Philip R
Amount purchased: 807 @ 1,138.00p
Value: £9,183.66
Wolf Minerals Limited (WLFE)
Director name: Hopkins,John
Amount purchased: 100,755 @ A$0.12
Value: A$7,238.90
Marechale Capital (MAC)
Director name: Booth-Clibborn,Patrick
Amount purchased: 397,810 @ 1.68p
Value: £6,663.32
Physiomics (PYC)
Director name: Millen,James Simon
Amount purchased: 200,000 @ 2.50p
Value: £5,000.00
Wolf Minerals Limited (WLFE)
Director name: Hugh Beevor,Ronald
Amount purchased: 50,378 @ A$0.12
Value: A$3,619.49
Wolf Minerals Limited (WLFE)
Director name: Royston Clarke,Nicholas
Amount purchased: 50,378 @ A$0.12
Value: A$3,619.49
Wolf Minerals Limited (WLFE)
Director name: Newport,Don
Amount purchased: 50,378 @ A$0.12
Value: A$3,619.49
Anglo American (AAL)
Director name: Ramatlapeng,Mphu
Amount purchased: 243 @ 1,138.00p
Value: £2,765.34
Johnson Matthey (JMAT)
Director name: Garner,Nicholas
Amount purchased: 15 @ 3,118.81p
Value: £467.82
Johnson Matthey (JMAT)
Director name: Kelleher,Annette
Amount purchased: 12 @ 3,118.81p
Value: £374.26
Johnson Matthey (JMAT)
Director name: Walker,John
Amount purchased: 12 @ 3,118.81p
Value: £374.26
Johnson Matthey (JMAT)
Director name: Garner,Nicholas
Amount purchased: 12 @ 3,118.81p
Value: £374.26
Johnson Matthey (JMAT)
Director name: MacLeod,Robert
Amount purchased: 12 @ 3,118.81p
Value: £374.26
Johnson Matthey (JMAT)
Director name: Farrant,Simon
Amount purchased: 12 @ 3,118.81p
Value: £374.26
Pennon Group (PNN)
Director name: Loughlin,Christopher
Amount purchased: 18 @ 832.93p
Value: £149.93
Kaz Minerals (KAZ)
Director name: Southam,Andrew
Amount purchased: 42 @ 355.30p
Value: £149.23
Pennon Group (PNN)
Director name: Davy ,Susan
Amount purchased: 15 @ 832.93p
Value: £124.94
Paypoint (PAY)
Director name: Wilde,Katy
Amount purchased: 13 @ 949.00p
Value: £123.37
Paypoint (PAY)
Director name: Watkin-Rees,Tim
Amount purchased: 13 @ 949.00p
Value: £123.37
Paypoint (PAY)
Director name: Court,Susan
Amount purchased: 13 @ 949.00p
Value: £123.37
Paypoint (PAY)
Director name: Taylor,Dominic
Amount purchased: 13 @ 949.00p
Value: £123.37
Paypoint (PAY)
Director name: Alcraft,Lewis
Amount purchased: 13 @ 949.00p
Value: £123.37
Paypoint (PAY)
Director name: Marchant,Jon
Amount purchased: 13 @ 949.00p
Value: £123.37
Paypoint (PAY)
Director name: Earle,George
Amount purchased: 13 @ 949.00p
Value: £123.37
Top Director Sells
Paragon Group Of Companies (PAG)
Director name: Heron,John
Amount sold: 172,853 @ 400.36p
Value: £692,034.29
Amerisur Resources (AMER)
Director name: Harrison,John Nicholas
Amount sold: 750,000 @ 26.00p
Value: £194,999.99
Amerisur Resources (AMER)
Director name: Clarke,Charles Giles
Amount sold: 750,000 @ 26.00p
Value: £194,999.99
Easyjet (EZJ)
Director name: Findlay ,Andrew
Amount sold: 13,640 @ 1,024.00p
Value: £139,673.60
Nanoco Group (NANO)
Director name: Edelman,Michael
Amount sold: 344,057 @ 40.50p
Value: £139,343.09
Gattaca (GATC)
Director name: Dyer,Tony
Amount sold: 13,489 @ 286.99p
Value: £38,711.74
Gattaca (GATC)
Director name: Lewis,Keith
Amount sold: 13,489 @ 286.99p
Value: £38,711.74
Senior (SNR)
Director name: Bodenham,Andrew
Amount sold: 8,153 @ 191.40p
Value: £15,604.84
Nanoco Group (NANO)
Director name: Edelman,Michael
Amount sold: 31,166 @ 43.00p
Value: £13,401.38
Management Consulting Group (MMC)
Director name: Halkes,Nigel
Amount sold: 60,000 @ 4.03p
Value: £2,418.00
Nanoco Group (NANO)
Director name: Edelman,Michael
Amount sold: 4,777 @ 44.00p
Value: £2,101.88