Orchard Funding Share Discussion Threads

[97peter] 15/1/2024 14:06

Davidosh- Others.
If IR do not respond, then send direct to [e-mail]
This address is responded to and is on the AGm and all RNS messages from Ravi.
Remember Orchard Funding Group PLC is a very small company with just 26 staff and Ravi is a busy CEO with many hats.

[davidosh] 15/1/2024 13:55

IR people....Are they contracted or someone actually employed within the company?

97Peter...To be fair you were the one that guided the rest of us by saying Ravi always replies to any emails and gave the best address to send them to..

[97peter] 15/1/2024 11:30

CWA1- I do agree with the lack of response and service from the Investor Relations and info e-mails which go without a reply. This is not acceptable and I have raised the issue with Ravi and he chases the IR people. Plus the lack of dates given for the ex divi and pay dates, does seem a little last minute and confused / panicky. I am sure this will be picked up and acted upon for future comms.
Though this is still a solid business and medium to long term investment and probably more for income from divis for an ISA or SIPP than short term trading!!

[konradpuss] 15/1/2024 09:49

How about a complaint to the LSE.

That will get some action.

[davidosh] 15/1/2024 09:22

I am going to retry my attempts to get Ravi to do a presentation and Q&A as clearly there is a sense of investor frustration here and Ravi needs to get their confidence back in the company

[cwa1] 15/1/2024 08:15

97peter

You seem to be happy with the way the company is going and that, of course, is your prerogative.

Does it not worry you at all that the company doesn't seem to be capable of advising their own shareholders when crucial dividend dates are in their own pubic news releases-in the same way as every other public company does?

Also, does it not concern you at all that the company publishes incorrect dividend dates on their own website, only to have to correct them by RNS?

Any thoughts on the "The final dividend will be paid to shareholders as soon as possible following the record date." comment? Again, in contrast to almost every other company on the market that announce an actual pay date?

Does this inspire confidence in the company and their technical ability and general competence?

And, perhaps worst of all for me, how do you feel about a company that completely ignores fairly reasonable requests and questions to them through their own website? Not just from me but others too>

Look forward to hearing your thoughts. Cheers

[florence141414] 13/1/2024 11:46

Well then that would make the opening sentence of the FY results somewhat misleading.

‘Orchard Funding Group PLC, the finance company which specialises in insurance premium finance and the professions funding market, is pleased to announce its audited full year results for the year ended 31 July 2023.’

And the second sentence of the chairman’s statement.

‘This growth has been achieved in our core insurance premium funding markets.’


I’m not disputing the value on offer here at all. I’m just trying to be honest about my reasons for selling. I now see the risk of two types of 7AM RNS that will cause a major drop in the share price before market open at 8AM. The first that some sort of FCA restriction is being placed on insurance premium lending. The second that Ravi is taking the company private which I think he could probably do with just the support of one institution (although I haven’t verified this).

I’m just choosing that I would prefer to be out before that happens whilst acknowledging that I will absolutely be kicking myself in a year or two if no such RNS has materialised and the share price has doubled.

I’m not even saying that I think either scenario is more likely than the other but once I find it difficult to quantify the risk then it’s probably too high for my personal tolerance. Though I can completely see the argument that, at such a cheap valuation, others think the risk is worth taking. Or, like yourself, don’t see it as a risk at all. Fair enough.

I’m also only responding as I was called out by name. I won’t respond or repeat these reasons again as I wouldn’t want to negatively influence potential new shareholders.

[97peter] 13/1/2024 09:28

Florence1414- What are you talking about total wipeout. This is not in issue for Orchard as the only element of Insurance they do is with Toyota UK for things like the GAP and 7 days insurance pieces! You need to do your research on what Orchard and Bexhill do!

[97peter] 12/1/2024 17:17

No need for buybacks and would do nothing for shareholders or company. The divi is fine and the company is growing and expanding, look at the figures of monies borrowed and new clients/areas and larger profits?

[97peter] 12/1/2024 15:29

34ads - i don’t think it was. It is just a few on here have lost faith and don’t understand the company and that this is a medium to long term hold! The divi’s are superb for a company this size, that continues year after year to make large profits compared to its cap. Plus medium term and once recession , inflation and interest rates get back to 2-3%, things will improve and share price back to 60-70p range. Hold and have and trust the team!

[davidosh] 12/1/2024 10:17

When a company does buybacks the shares do not have to be cancelled. They can beheld in treasury and sold back into the market when there is demand. In smaller companies it can help an institution or large investor to get their initial stake.

How many were on the age call as I do hope the 10 minute meeting is not an indication of the lack of interest in both the company and equally Ravi thinking nobody cares enough to attend and ask questions?

[konradpuss] 12/1/2024 10:15

I would vote for a buy out at NAV + no buy backs at this share price.

[34adsaddsa] 12/1/2024 10:05

A sub-£10M market cap financial company will never want to buy back shares. No listed business wants to stay that small. It's stupid to keep trying to push them to do it.

[florence141414] 12/1/2024 09:07

Just to clarify he was saying a poor product in the sense that it’s a product only for the poor i.e. a tax on the poor. As opposed to a bad product.

[mesb48] 12/1/2024 09:03

Not sure I’m so worried about comments about something being a poor product, there’s plenty of those around and it doesn’t stop the businesses that peddle them making money. But the communications here are terrible, so you’d need a particularly thick skin to want to invest. Maybe they’ll surprise and pay the dividend quickly but it’s extremely odd not to be able to name a date.

[davidosh] 12/1/2024 09:02

What questions were asked at the Agm?

[florence141414] 12/1/2024 08:34

Sorry guys that was me. Obviously it’s still very cheap on a valuation basis and if there turns out to be no regulatory problems then I’ve made a huge mistake. I have no special knowledge whatsoever. It was just when I read the comments from the regulator calling insurance premium finance ‘a tax on the poor’ then I can’t see how he can say that and then not regulate it. Right or wrong.

I was in Morses Club when the regulatory train started rolling downhill and it was a very unpleasant experience. I genuinely hope that doesn’t happen here and long suffering shareholders get rewarded for spotting the value on offer. It’s just that for me the risk of total wipeout has become too high.

[34adsaddsa] 12/1/2024 08:15

I think it's because of what I posted about the FCA and premium finance. I got downvoted but that doesn't change the facts.

[cwa1] 12/1/2024 08:13

Yet further falls this morning. Ughhh :-(

[davidosh] 11/1/2024 11:27

Did anyone attend the Agm this morning via Teams or maybe physically?

I have just returned from a call out and so annoyed that I could not get back in time. Just wondered if all these issues were raised and I know there are some large holders on here so very much expect you will have joined the meeting to ask questions.

[konradpuss] 09/1/2024 08:47

Paid as soon as possible!

That does not fill you with optimism.

You get the mental picture of folk running around looking for the funds.

[cwa1] 09/1/2024 07:22

New levels of incompetence reached where the dividend date on their own website was wrong and has had to be corrected. And the final dividend will be paid as soon as possible after the pay date? Seriously, no actual pay date?? Makes you wonder what their business processes are like?:-

09 January 2024

9th January 2024

Orchard Funding Group PLC

("Orchard" or the "Company")

Dividend Timetable

Orchard Funding Group PLC, the finance company which specialises in insurance premium finance and the professions funding market, confirms that subject to approval at Orchard's upcoming annual general meeting (the "AGM"), to be held at 10am on Thursday 11 January 2024, the Company's final dividend for the year of 2.0 pence per share will follow the below timetable:

Ex-Dividend Date: 18 January 2024

Record Date: 19 January 2024

The final dividend will be paid to shareholders as soon as possible following the record date. These ex-dividend and record date replace the proposed dates set out in the Company's AGM notice. Following payment of the final dividend, the Company's full year dividend for FY23 will be 3.0 pence per share.

[davidosh] 02/1/2024 17:51

I am hoping to be there but will ask if they can do a presentation on the day and set up a zoom link into Luton