Cattles in talks over 1p per share offer

Click to follow

Cattles, the troubled doorstep lender whose shares were suspended in April last year, is considering a possible restructuring deal that is likely to see shareholders receive a cash payment of a maximum of 1p per share.

The company, which has been in talks with creditors for some time now, said it was exploring an option which would see the Yorkshire-based business being taken over by a new company that would be "formed and managed by a corporate service provider and ultimately owned by a charitable trust". Though there is no certainty that such an offer will be forthcoming, any proposal will need shareholder approval.