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ORCH Orchard Funding Group Plc

29.50
-0.50 (-1.67%)
24 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Orchard Funding Group Plc LSE:ORCH London Ordinary Share GB00BYZFM569 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.50 -1.67% 29.50 98,733 10:37:54
Bid Price Offer Price High Price Low Price Open Price
29.00 30.00 31.00 29.50 30.50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Security Brokers & Dealers 7.86M 1.71M 0.0802 3.68 6.3M
Last Trade Time Trade Type Trade Size Trade Price Currency
14:00:21 UT 8,730 30.00 GBX

Orchard Funding (ORCH) Latest News

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Orchard Funding Forums and Chat

Date Time Title Posts
26/5/202419:59Orchard Funding - a niche lender new to AIM982
27/3/200312:36Ocean Resources Capital Holdings Plc.-

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Posted at 27/5/2024 09:20 by Orchard Funding Daily Update
Orchard Funding Group Plc is listed in the Security Brokers & Dealers sector of the London Stock Exchange with ticker ORCH. The last closing price for Orchard Funding was 30p.
Orchard Funding currently has 21,354,167 shares in issue. The market capitalisation of Orchard Funding is £6,299,479.
Orchard Funding has a price to earnings ratio (PE ratio) of 3.68.
This morning ORCH shares opened at 30.50p
Posted at 17/5/2024 09:24 by topvest
A very inadequate RNS. No timeline. Reading between the lines, it sort of implies that things will be sorted with the July 2024 accounts given a shareholder vote is required on the delisting from AIM. I might be wrong and they may delist sooner, but their shareholder communications are currently being driven to walk the share price down...that is very clear. It will be interesting to see at what price Ravi (the vulture) comes in. He's obviously not too interested at 30p as I suspect 30-40p will be the tender price being the minimum the institutional holders will accept!
Posted at 17/5/2024 07:11 by pireric
Never even heard of ORCH, but today's announcement in my own other words...

We were going to delist eventually, but now the share price has shown any signs of life ever, we're going to make a news announcement that does not even make a decision, but will have the effect of screwing minority shareholders

Amazing that the board can write an RNS like this that they know will only be taken extremely negatively. Why would you stop paying dividends if you're intending to tender the cash back to shareholders?

Or do they want to buy out the minorities at tuppence?

Eric
Posted at 17/5/2024 07:07 by cwa1
Dividend a goner, de-listing the prefered option by an "acceptable" tender offer...

17 May 2024



Orchard Funding Group PLC



Update on the Review of the Capital Allocation Policy and the Continued Admission to Trading on AIM

("the Review")



Orchard Funding Group PLC ("Orchard", the "Group" or "Company"), the finance group which specialises in insurance premium finance and the professions funding market, provides the following update on the Review having engaged with its key institutional shareholders.

The Board is currently of the view that the benefits of maintaining the Company's admission to AIM ("Admission") are outweighed by the following factors:

1. the legal and regulatory requirements and associated costs of Admission;

2. the Company's inability to attract sufficient interest from institutional and other investors, in light of the material discount of the current market price of its shares to Net Asset Value; and

3. the low levels of liquidity in trading of the Company's ordinary shares.

The Board believes it is in the Company's best interests to cease payment of dividends for the current financial year.

The capital retained can be used to make, if appropriate, an acceptable tender offer to shareholders in the future and will be for the benefit of the business enabling management the strategic flexibility, when appropriate, to deploy funds to support the lending of the business.
Posted at 09/4/2024 20:22 by topvest
What leaves a somewhat sour taste is that the interims were actually quite good, even after the fraud charge. I personally think that Ravi has intentionally painted a very bleak picture before today's RNS so that the share price was on the floor before he starts offering an exit. For example, GAP insurance:

"As over 20% of the Group's assets finance GAP insurance products (as at 31 December 2023, unaudited), the withdrawal of these insurance products is likely to have a material adverse impact on the Company's financial results over the current financial year."

This was deliberately alarmist as in today's interims he states there was no impact in H1 and confirms that the existing book will run off over 3 years. There is just an H2 new business impact. Why did they not confirm that originally?

They also scaremongered a bit on the fraud and have now revised lower.

I just feel that Ravi has worked the share price down through making no effort. He will now possibly offer a bit more and get his hand bitten off without looking a total rip-off merchant. It's probably going very well from his perspective in terms of his plan to get everything back and he can dangle the FCA review on insurance premium finance on why its not going to be anything like book value.
Posted at 13/3/2024 13:51 by hedgehog 100
97peter 4 Mar '24 - 17:42 - 832 of 844 0 0 1
" ... Hopefully diverting the funds put into GAP and plugging this hole in internal fraud/introducer should see Orchard bounce back by November time and also with lower bank interest rates, improvements in share price "


Peter,

HIGHER interest rates are actually regarded as the benefit to lenders, not LOWER rates.

From a Time Finance (TIME) thread:-

someuwin 28 Apr '23 - 15:03 - 182 of 549 0 1 0
"Reading about Barclays in The Times...
"Barclays profits hit 12-year high after surge in interest rates"
Says that lenders are being boosted by rate rises being pushed through by the Bank of England. This is enabling commercial lenders to increase their net interest margins.
If so, has to be good for TIME too."


So as the overall trend in inflation is expected to continue falling back to the 2% target, with interest rates therefore likely to follow suit, this surely represents a significant headwind for ORCH to battle against.
Posted at 13/1/2024 11:46 by florence141414
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.
Posted at 14/9/2023 15:47 by cwa1
I keep rubbing the minuscule blue spot showing beside the ORCH share price today-but it doesn't seem to want to go away. Is my laptop screen broken?
Posted at 27/7/2023 22:06 by valuewinsout
I think the idea of getting a resolution at the AGM is a good one- but what would you like to put forward? I proposed a share buyback to Ravi by email but he doesn’t want to do it. I think that he doesn’t have an incentive to raise the share price because he can realise the true value ( above the current share price) if and when he wants to sell- he could probably sell the company to a bank at considerably higher than the current share price- because it’s valued at 50% of book price. Until then he can collect the dividends. However- a share buyback would be in his interests because then the same total dividend payment can be split between fewer shares, so it will be higher per share, and he will collect more money by keeping his existing holding, and it will be in our interest because it will boost the share price, plus raise the dividend payment. So I think that we should propose this at the AGM. The other thing a group of shareholders could ask for is a board seat. I have a fairly small holding but would be happy to vote my shares in favour of either of the these things.
Posted at 12/2/2023 00:28 by valuewinsout
Rainmaker: you make an excellent point. Buying back shares when they are valued significantly below book price is accretive to shareholders. It's preferable to e.g. returning capital via a special dividend, since any subsequent gains in the share price would be taxed as a capital gain, vs a special dividend being taxed as income, which is usually at a higher rate for most shareholders.

I would welcome a share buyback: it would be a signal to the market that the management are concerned with boosting the share price, so it reflects a more realistic valuation.

The only issue with a share buyback is that Orchard uses its capital, to support it's lending: so if it buys back shares it will have to borrow more in order to lend. However, I think that it could easily buy back a limited amount e.g. £1M as you suggest which would be great for the share price, helping to put a floor on the share price closer to book price rather than significantly below it, as it is now. The remaining shareholders would see their shareholding increase in value, as you can currently buy 75p per share of ORCH assets for 44p in the market, due to the current share price. Earnings and dividends would be higher every year subsequently: so I think it's a win-win.
Posted at 19/1/2023 10:09 by 97peter
Slob, sorry to be blunt, but what has all that diatribe got to do with the ORCH share price and dividends??
Please keep to point and some interest to ORCH investors on here! Or a report and removal may be needed!
Orchard Funding share price data is direct from the London Stock Exchange

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