Charter Court Financial ... Investors - CCFS

Charter Court Financial ... Investors - CCFS

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Stock Name Stock Symbol Market Stock Type
Charter Court Financial Services Group Plc CCFS London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 295.00 01:00:00
Open Price Low Price High Price Close Price Previous Close
295.00 295.00
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Top Investor Posts

gargleblaster: Agree Pen, all sets of figs are pointing in the right direction. Good to see first divi declared! Market reaction seems solid, hopefully there will be an influx of investors on the back of these results.
aishah: 6 June 2018 Charter Court Financial Services Group plc Disposal of economic interest in Charter Mortgage Funding 2018-1 plc Charter Court Financial Services Group plc ("Charter Court" or the "Group") today announces it has agreed to sell its residual economic interest in the Charter Mortgage Funding 2018-1 plc securitisation ("CMF 2018-1") for a cash consideration of GBP13.8 million, payable on completion (the "Transaction"). CMF 2018-1 is the Group's latest securitisation and is due to complete on 8th June 2018. The Transaction is expected to settle before the end of June 2018 and will involve the sale of the RC1 and RC2 residual certificates (the "Certificates") to the securitisation. Lloyds Bank Corporate Markets plc ("LBCM") is managing the sale and settlement process. The Transaction will generate a pre-tax gain of GBP21.3 million which will be recognised in the first half of 2018 and will also result in a reduction of mortgage assets and associated risk weighted assets of the Group of approximately GBP285.5 million and GBP100 million, respectively. The associated increase in the Group's core equity tier 1 capital resources will be invested to support new loan originations in its specialist lending segments and ongoing business activities. The securitised mortgage assets yielded interest income of c. GBP1 million in May 2018. Both the Transaction and the CMF 2018-1 securitisation reflect Charter Court's strategy of continuously monitoring the markets for tactical opportunities to create shareholder value. Charter Court remains on track to meet its net loan book growth target of at least 20% in the medium term, adjusting for sales which result in a de-recognition of assets. Sebastien Maloney, CFO of Charter Court, said: "This is another excellent transaction for Charter Court and is a testament to the continued investor confidence in the quality of our underwriting. As we have set out in our strategy, we take a proactive approach to asset-liability and capital management and will take advantage of favourable market conditions to execute transactions that enhance our capital position, support further loan growth and deliver shareholder value. The proceeds from the transaction will be invested in pursuing further growth opportunities. As we set out at our Q1 2018 trading statement, we have had a strong start to the year and remain confident of achieving our stated financial targets." Background on CMF 2018-1 CMF 2018-1 is the securitisation of approximately GBP285.5 million of prime residential mortgages originated by Charter Court Financial Services Limited. At closing, CMF 2018-1 will sell all of the rated notes (classes A, B, C, D, E and X notes) in the securitisation to third-party investors. The Transaction will result in the de-recognition of the securitised mortgages and, as a liability, the rated notes from the Group balance sheet.
gargleblaster: Nasty reaction - a problem with an investor that holds such a big stake unfortunately. Prior to this their stake was listed as 53.9%, so the fact they want to offload could be a sword of Damocles hanging over the stock for some time. IMV you either take a longer term view on the business (my preference)or you bail out when faced by a large shareholder.
gargleblaster: I've dipped my toe in here. Shares mag has this as one of its 2018 picks. Ian Gordon of Investec reckons investors could double their money over 3 years. Even accepting an element of "over-enthusiasm" - still looks cheap to me, and is in markets the big boys are not really interested in.
oniabsta: Ah, I see, you mean't an Update. I have just e-mailed Sebastien Maloney CFO to ask if they indeed issue updates and if it would be possible to add a financial calendar to the Investor centre on their web site
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