Non-bank lender Resimac has extended its on-market share buy-back after falling well short of its target. Resimac launched the buy-back in December last year, announcing that it would purchase up to 40.8 million shares (10 per cent of its issued share capital). The buy-back was to end on December 28. Yesterday the company reported that it has purchased only 5.2 million shares through the program. The buy-back period will continue until December next year or until the program is completed. Zip Co has completed an institutional share placement, raising A$13.6 million with an issue of 21.9 million shares at 62 cents a share. The proceeds will be used to fund the cash payment component of a conversion of convertible notes. It is retiring $70 million of a $400 million convertible bond at a discount to face value. Under the terms of the conversion, Zip will issue 5.8 million shares to noteholders at a conversion price of just over $12 per share. Noteholders will also receive cash of $17,860 per $100,000 of the notes being converted. Zip said the conversion will reduce its liability by $76.6 million. Stephanie Tonkin has been appointed chief executive of the Consumer Action Law Centre, one of the key consumer finance advocacy bodies. Tonkin is moving from Mortgage Stress Victoria, where she was director of operations. She has also worked in senior roles at the Victorian Energy and Water Ombudsman, Justice Connect and the St Kilda Legal Service. She will take over from outgoing CEO Gerard Brody in January.