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The UK lender has rejected an offer from Shawbrook and seeks to raise as much as £600mn

Group made proposal after bank suffered setback in effort to secure regulatory relief on mortgage business

UK challenger bank in talks with investors over raising £600mn

Earlier fears over delays to initiative aimed at using UK lender’s internal calculations to model for risk prompted share price fall

UK lender’s shares have plunged 50% in recent weeks

Challenger bank also reviews policy of branches opening seven days a week

More than 90% of UK high street lender’s shareholders vote in favour of cash call

With an expensive branch network, more scale is needed to get overheads down

Jaime Gilinski took controlling stake in UK lender as part of a £925mn refinancing

Craig Donaldson and David Arden mount legal challenge over fines meted out by Financial Conduct Authority