Morses Club PLC (LON:MCL), an established provider of non-standard credit services, has provided the following update on changes to the Board.
Steve Curtis will join the Board with effect from 5 November in the role of Interim Chair (non-independent), subject to FCA approval. Steve has extensive experience as a Chair and CEO across a broad range of sectors, including financial, and has direct knowledge of the credit sector. He has a proven track record and particular expertise in working with financial institutions and executive teams to effect business restructuring to drive growth.
Following an early career at a number of large UK businesses, which led to several Board appointments, Steve set up his own practice in 2012 and has since focused on the successful turnaround and growth of companies in the private equity space. Steve played a key role in the flotation of Morses Club on the AIM market in 2016 and since April 2022 has been helping the Company in a strategic advisory position.
Sheryl Lawrence will also take on the role of Deputy Chair with effect from 5 November, in addition to her roles as Senior Independent Director and Chair of the Audit Committee.
Additionally, Terry Baxter will join the Board with effect from 5 November as an independent Non-Executive Director and Chair of the Risk Committee, subject to FCA approval. Terry has extensive experience at Board level, having worked in a variety of roles for Target Group Limited, ultimately as the Group Risk and Compliance Director, and as part of the leadership team of Grant Thornton’s Financial Services Group. Terry has conducted a number of skilled person reviews during his career covering a wide variety of topics such as compliance, risk management, responsible lending and financial crime.
AIM Disclosures
Stephen Curtis is 57 years old and during the last five years immediately preceding the date of this announcement held the following directorships:
| Current | Previous |
| Aspen Phoenix Midco Limited | Brentford One Limited |
| Aspen Phoenix Topco Limited | Brentford Three Limited |
| Curtis Steve Consulting Llp | Brentford Two Limited |
| Fantastic Voyage Limited (10122130) | |
| Jcp One Limited | |
| Qsol 2 Capital Holdings Llp | |
| Qsol 2 Capital Investments Llp | |
| Quilam Capital Holdings 2 Llp | |
| Quilam Capital Holdings Limited | |
| Quilam Capital Investments 2 Llp | |
| Quilam Capital Investments Llp | |
| Quilam Capital Limited | |
| Rcap Four Limited | |
| Retail Realisation Llp | |
| Steve Curtis Consulting Limited | |
| System Training Group Holdings Limited | |
| Tailer Bidco Limited | |
| Beheren Limited |
The following disclosures are made as required under sections (v) to (vii) paragraph (g) of Schedule 2 of the AIM Rules for Companies in relation to companies that were placed into liquidation or receivership/administration where Stephen Curtis was a director at the time or a director 12 months preceding the event:
Beheren Limited: administrators were appointed in February 2022 and the process remains ongoing.
Terence Alexander Baxter is 60 years old and during the last five years immediately preceding the date of this announcement held the following directorships:
| Current | Previous |
| Portdog Consulting Ltd | Target Group Limited |
| Target Financial Systems Limited | |
| Target Servicing Limited | |
| Harlosh Limited | |
| Elderbridge Limited |
There is no further information to be disclosed pursuant to Schedule Two Part (g) of the AIM Rules for Companies.
Gary Marshall, Chief Executive Officer of Morses Club, commented:
“We are delighted that both Steve and Terry have joined the Board during this period of significant change. Steve’s wealth of commercial experience, both directly in the credit sector and in wider consumer sectors, is directly relevant to Morses Club’s future business and funding strategy as we continue to work up the detail of a potential Scheme of Arrangement. Sheryl’s appointment as Deputy Chair, in addition to her other roles, adds further independence to the Board and Terry’s appointment brings particularly relevant experience during a period of transformation for the business.”
