Orchard Funding Share Discussion Threads

[cc2014] 25/9/2024 07:49

And how exactly does any independently managed trust let it's assets transfer at 15p when the share price is where it is.

Perhaps it's hold over relief and tax planning but then it's not independently managed is it?

[cwa1] 25/9/2024 07:24

25th September 2024

Orchard Funding Group PLC

Director Shareholding

Orchard Funding Group PLC ("Orchard", the "Group" or "Company"), the finance group which specialises in insurance premium finance and the professions funding market, confirms that on 20 September 2024, Ravi Takhar, the Company's chief executive officer acquired 527,126 ordinary shares in the capital of the Company ("Ordinary Shares"), previously held by an independently managed trust of which he is a beneficiary (the "Trust").

Following the transfer, Ravi Takhar is holding 12,213,541 Ordinary Shares in the Company representing 57.20% per cent of the Company's voting share capital.

Price(s)

Volume(s)

15p

527,126

[playful] 17/9/2024 20:34

The stewardship here is shocking and the tenure of the NEDs confirm this.

I actually believed in Ravi, more fool me!

[konradpuss] 12/8/2024 15:41

This share is like being aboard a rollercoaster with Captain Peter/Ravi at the helm.

It is a very poor show not to have any of the board apart from Peter/Ravi owning any shares.

[davidosh] 11/8/2024 18:27

MRF...lol

None of the other directors hold shares in the company....Mmmm

Do they attend the Agm? Anyone met them?

[my retirement fund] 11/8/2024 17:50

At least that indicates he's got some common sense!

[konradpuss] 11/8/2024 15:27

You gotta laugh - the Chairman holds no shares in the company.

[davidosh] 11/8/2024 14:01

Ravi never answers my calls or messages.

I would be happy to attend if you can arrange a meeting as I have a lot of questions too.

What are the non execs doing? Maybe we need to contact the chairman to arrange a call. He has no shares

Steven Hicks
Position: Independent non-executive chairman.

Skills and experience: Mr Steven Hicks has more than 40 years’ experience in Retail and Commercial Banking, has worked at Board level since 2007 and has extensive governance, risk management and compliance knowledge. His previous Board roles were as Chief Operating Officer and Head of Risk at Arbuthnot Latham & Co Limited and CEO at Gentoo Genie Limited where he is now the Chairman. He is currently an Independent Non-Executive Director (INED) and Chair of The Board Risk Committee at the State Bank of India UK Limited and an INED and Chair of The Board Risk Committee at Al Rayan Bank PLC.

Tenure: Appointed 12th December 2019.

Other current principal external appointments: Mr Hicks serves as a director at State Bank of India (UK) Ltd, Gentoo Genie Limited, Gentoo Genie Admin Limited, Al Rayan Bank PLC and DS&M Hicks Property Limited.

Re-election: This is required at the first AGM after appointment and every three years thereafter.

Termination: Termination of his contract is by either party with three months written notice.

Remuneration: This is set by the executive directors and is disclosed in the annual report.

Time requirement: He is expected to devote such time as is necessary for the proper performance of his duties.

Shareholding: He holds no shares in the group.

[konradpuss] 09/8/2024 18:16

As a follow up.

I am really tempted to make the treck to Luton (where ever that is) to ask some very telling questions of Peter/Ravi.

[konradpuss] 09/8/2024 18:13

I do wonder about this fellow Petter/Ravi.

I just did a Companies House search on Nukula Ltd - Trading as 'Insure That'.

These are the folk that went bust on Orchard.

These are the headline facts from their last accounts of the year ending 31st.May 2023.

Firstly the accounts are unaudited.

Secondly they had total equity of £60k

Ravi, did you really do any due diligence on these folk?

Answers on a postcard.

I have put this stock into my 'laughter' pile as I only have a small amount.

[muffster] 07/8/2024 20:35

Chill Ravi/Peter.when Is the bid happening?

[97peter] 07/8/2024 16:58

See full thread!

[konradpuss] 07/8/2024 14:22

Thanks Ravi, so the buyout offer will be 40p.

[97peter] 07/8/2024 14:19

Not good news. But a bit overplayed by the markets and shareholders. It will rebound back to 33p within 6 months, as soon as clarity on the loans and returns contracts and terms d length is better known! As like another Bb said, it’s like a mortgage the loans are still extant and need paying, so once all paid, monies will go elsewhere and generate growth and profit. Plus monies paid back for the likes of GAP insurance again is due, so once it rolls back in and re-loaned, the share price from early 2025, should start to climb from a 32-33p level I feel it will e back to by December. Long term a solid buy and growth! At 22p it’s a steal! Even if an offer to buyout comes before December though I doubt it, it will be a buyout at 40p.!!!

[davidosh] 07/8/2024 13:18

97peter....What are your thoughts on yesterday's news?

[34adsaddsa] 07/8/2024 13:02

It's potential customer redress that matters. That will determine whether the NAV is safe.

[97peter] 07/8/2024 10:55

The GAP insurance fiasco investigation is now pushed back 12 months. Plus by the time it gives its results, most if not all,of the monies paid to borrowers for the GAP insurance not the car companies will have been paid and ORCH will use these monies in other areas like private school fees and mobile homes. We just need to hope so does not stay at 23p.

[34adsaddsa] 06/8/2024 21:35

I doubt he wants to until there's certainty on potential GAP insurance redress.

[konradpuss] 06/8/2024 21:23

David, this really is 'amateur hour'.

Ravi needs to make a sensible offer and take this company private.

He can then run the company as he likes.

Oh and MyRetirementFund, if it is invested here you might have to put off your retirement for a while.

[davidosh] 06/8/2024 21:18

The heading to the RNS was 'Trading Update' but there was only the three and a half week OLD news about a major client going into administration. The heading should more accurately have been 'Loss of major client'

No financial information about how the company is performing overall and we passed the year end last Thursday so this was not communicated correctly and even worse investors who have been buying shares in the last three weeks plus did so whilst the board at Orchard were fully aware that a major client had gone bust but failed to RNS until today.

[konradpuss] 06/8/2024 19:46

This share is not for the faint hearted.

You also need a sense of humour to own.

[unglove] 06/8/2024 15:11

Looking on the Insure That website it seems to indicate that the products linked to Orchards may have been GAP insurance which was due to be phased out anyway.