Sancus Lending Group Limited NPV (LEND)

Sector:

Investment Firms

 0.23p
   
  • Change Today:
      0.000p
  • 52 Week High: 0.85
  • 52 Week Low: 0.23
  • Currency: UK Pounds
  • Shares Issued: 6.27m
  • Volume: 300,000
  • Market Cap: £0.01m

Sancus Lending offloads Gibraltar operations

By Josh White

Date: Wednesday 15 Mar 2023

LONDON (ShareCast) - (Sharecast News) - Sancus Lending Group announced the sale of Sancus Lending Gibraltar on Wednesday, for £10,000, to John Davey.
This AIM-traded company said the move was a result of its review of operations in Gibraltar last year, which did not identify sufficient quality lending opportunities to merit continued efforts in the region.

As it noted in an update on 10 January, the firm had written down its goodwill of £8.64m to nil due to the lack of viable lending opportunities.

The disposal of Sancus Lending Gibraltar would result in cost savings of around £0.2m in relation to run-off costs, as well as avoiding redundancies and associated expenses.

In addition, the board said the sale would allow Sancus to focus on its core markets in the UK, Ireland, and the Channel Islands.

The proceeds of the disposal would be used for working capital purposes, and be paid in cash.

"The sale is in line with the group's ongoing structured change programme," the board said in its statement.

"The executive team, supported by the board, continues to focus on returning the company to profitability.

"This includes ongoing measures to simplify the business, improve efficiency and optimise the use of its resources."

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

LEND Market Data

Currency UK Pounds
Share Price 0.23p
Change Today 0.000p
% Change 0.00 %
52 Week High 0.85
52 Week Low 0.23
Volume 300,000
Shares Issued 6.27m
Market Cap £0.01m

LEND Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
45.81% above the market average45.81% above the market average45.81% above the market average45.81% above the market average45.81% above the market average
81.33% above the sector average81.33% above the sector average81.33% above the sector average81.33% above the sector average81.33% above the sector average
Price Trend
95.57% below the market average95.57% below the market average95.57% below the market average95.57% below the market average95.57% below the market average
99.39% below the sector average99.39% below the sector average99.39% below the sector average99.39% below the sector average99.39% below the sector average
Income Not Available
Growth
34.78% below the market average34.78% below the market average34.78% below the market average34.78% below the market average34.78% below the market average
30.1% below the sector average30.1% below the sector average30.1% below the sector average30.1% below the sector average30.1% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

LEND Dividends

  Latest Previous
  4th Interim 3rd Interim
Ex-Div 02-Mar-17 27-Oct-16
Paid 21-Apr-17 15-Dec-16
Amount 0.62p 0.62p

Trades for 24-Jun-2024

Time Volume / Share Price
10:05 300,000 @ 0.25p

Top of Page