S&U PLC (LSE:SUS) had its target price trimmed by Peel Hunt after the specialist lender spelled out the current impact of the FCA’s Financial Difficulty review.
S&U's motor finance arm Advantage has increased its levels of forbearance [repossessions], which has led to a reduction in the collections ratio (of amounts falling due) from 92.1% in 2023 to 87.1%, triggering impairment charges.
Tower Resources PLC (AIM:TRP) has notified investors of a £137,500 investment in the company, including by its chief executive Jeremy Asher.
Via subscription, some 1.195 million shares priced at 0.0115p, a 4% discount, are being bought by Asher and another investor.
Zephyr Energy PLC (AIM:ZPHR, OTCQB:ZPHRF) told investors it has successfully completed drilling the State 36-2R well, at its flagship project in the Paradox Basin, Utah, with the well's initial results indicating the presence of hydrocarbons.
Initial analysis of the drilling data indicates the presence of hydrocarbons within a large structural compartment in Zephyr's acreage, the company revealed.
Ariana Resources PLC (AIM:AAU) said its due diligence review of the 1.3Moz Dokwe project in Zimbabwe is nearly complete, with diamond drill holes confirming lengthy zones of gold mineralisation.
Four holes were drilled in the North and Central deposits with notable grades including 45m at 2.75g/t from 80m below the surface and 14m at 4.55g/t at 250m down.
S&U PLC (LSE:SUS), the specialist lender, said business between April and June has followed the trends seen earlier in the year.
Motor finance has been affected by the several regulatory investigations underway across the sector while property bridging is showing ‘substantial progress’ as the housing market recovers.