UK Payment Provider's Stock Down Nearly 30% over £5M Potential Loss
Posted: Thu Feb 25, 2016 8:44 pm
One of the largest open networks for global bank payments – UK-listed Earthport Plc, traded under ticker EPO, saw its stock price fall almost 30% since Wednesday. The drop from just over 25 pence per share earlier this week, to 17.75 where it closed today -was related to a £5M potential loss that the company warned materialized from actions of a single corporate customer, yet not connected with any client funds, according to a regulatory filing.
The AIM-listed company operates payment related business lines including a Multilateral Trading Facility (MTF) and said that amount referenced in the warning was attributed to ... (read more)