Private & Commercial Finance – 26p

17 March 2017 – placing and open offer

The company has announced a placing and open offer to raise a minimum of £10m in order to maintain the level of regulatory capital and liquidity that the group is required to hold once it is granted a banking licence.  The funds also provide additional working capital to support the costs of mobilisation including spending on IT infrastructure.  We continue to believe the shares are a BUY.

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