Pcf Share Discussion Threads

[the millipede] 19/9/2021 19:21

“what will matter is the earnings of the company going foward. A large exceptional item in 2020 is not the problem unless it implies reduced future earnings. This is fairly basic stuff.“

This is not always/often true on AIM where sentiment can impact share prices for years.

Frankly, it could be years before anyone new is prepared to trust management here. And that potentially means that for a long time there will be no buyers of the stock at any price.

In my view this is likely to impact the share price far more than “earnings of the company going forward.”

I almost think the most preferable outcome is that the company does go private and comes back to AIM in - say - five years time.

[hopespr1ngseternal] 19/9/2021 18:47

Seasidehippo: PCF has a solid business and may become an attractive target after the accounting issues are resolved particularly if the market loses confidence in PCF as an independent concern.

[seasidehippo] 19/9/2021 16:26

For example as a result of a merger or acquisition. I assume this is a possibility?

[hopespr1ngseternal] 19/9/2021 15:23

Seasidehippo: new company? Don’t understand. Please explain.

[hopespr1ngseternal] 19/9/2021 15:20

Dandy: I am not prepared to speculate on the share price when the suspension is lifted. Far too many uncertainties but when the dust settles what will matter is the earnings of the company going foward. A large exceptional item in 2020 is not the problem unless it implies reduced future earnings. This is fairly basic stuff. I also am not convinced that we can infer PCF is shrinking its book. It is approaching year end and they may have hit budget for the year. In the end June RNS they stated that level of inflows was as planned. Stock markets are forward looking ergo 2022 guidance if forthcoming will be the most important factor IMHO. And a new CEO would help.

[seasidehippo] 19/9/2021 12:08

Strange all this wet finger in the air stuff and nobody has mentioned the possibilities of a new co. It would certainly help explain the time taken. IF they were working on a new co would they have to tell us???

[dandigirl] 19/9/2021 09:14

Milli: I don’t think they will go down that route with Franklin & Co on board. He has lots of fingers in lots of pies and being a party to something like that would trash his reputation.

Besides Somers also have other investments. In the early days someone posted a few of their other interests and directorships. Their partners in those might get jittery.

No, if this is done, it has to look okayish in the City and to regulators.

Hopes: Methinks a little more imagination is required here. Bermuda and the Netherlands.

Not sure what you are trying to imply regarding share price direction after suspension? Surely not that the share price will rise?

IMV 2021 will not look good even before the costs of all this.

And what triggered this off was CC’s shrinking book post. Shrinking book, shrinking profits? All at a time when the used car market is really booming with prices rising.

I am very angry at the time this is taking. I just hope that SOMERS are too and clear this lot out gradually.

Might tomorrow bring news? I will set my alarm for 7.00 a.m.

[hopespr1ngseternal] 18/9/2021 14:36

Dandi: interesting post. What incentive for HH and BTS to condemn themselves to minority status in a private company controlled by Somers?

As to S/P I think 2020 will be yesterday’s news by the time suspension is lifted. Forecast for y/e Sept 2021 will be much more relevant to the S/P - as will guidance for year to Sept 22.

[the millipede] 18/9/2021 11:39

Forget resolutions. AFAICT Aim shares that have been suspended for six months are delisted by the exchange.

So if the plan is to take the company private no one need do anything.

Nor does anyone need to pay us for our shares IMO.

We will be left with part ownership of a company that is not traded on the stock market.

[dandigirl] 18/9/2021 08:52

Just musing. :)

Bearing in mind, if they still apply?

Somers 63%
HH Bankiers 9%
BTS 3%

Hey ho, what do you get, a total of 75%

If/when the suspension is lifted, what do you think is going to happen to the sp, I wonder.

Plus a bit of my imagination.

And I am not thinking as you suggest so, no, it did not occur to me.

[hopespr1ngseternal] 18/9/2021 00:41

Dandi: please stop making mischief. If Somers want to take the company private they will need a resolution passed by 75% of the shareholders and will need to comply with the provisions of the Take Over Code. If you mean to imply that the Board might allow 19th November to pass without publishing accounts - to trigger an automatic delisting - has it not occurred to you that this would constitute a serious breach by the Directors of their legal duties?

[dandigirl] 17/9/2021 21:15

I continue to wonder if SOMERS are planning to take PCF private? A shrinking book fits that narrative. The amount needed is peanuts and could be easily funded. The Board could also be cleared out the Board in its entirety. Appreciate there are reasons not to such as the loss of quote.

I don't have a great deal of faith in our regulators preventing a smash and grab here.

It is now 4 months since the suspension.

Long enough for everybody I would have thought. New CFO needs to get a grip of her project. Starting to lose credibility.

[hopespr1ngseternal] 17/9/2021 18:57

One swallow does not a summer make

[cc2014] 17/9/2021 11:33

Interest rates for savers as of yesterday from PCF
1 year bond 1.0%
18 mth bond 1.01%
2 year bond 1.43%
3 year bond 1.65%

Intrest rates for savers as of today from PCF
1 year bond 0.8%
18 mth bond 1.01%
2 year bond - not available
3 year bond - not available


This is the opposite direction of all the other challenger banks who are raising rates.

I infer PCF don't want savers cash becuase their loan book is shrinking.

[cc2014] 16/9/2021 07:25

PCF Accounting System

[rmillaree] 13/9/2021 19:07

"So Milly, by Christmas is all right for you?"

Based on being where we are now as long as it comes in time for my annual hot mulled cider day i will be happy i guess - thats presuming the news aint over bad.
Hot mulled cider glasses at the ready peeps.

[seasidehippo] 13/9/2021 16:35

"Oh come all ye faithful"

[dandigirl] 13/9/2021 16:13

So Milly, by Christmas is all right for you?

[hopespr1ngseternal] 13/9/2021 15:28

rmillaree: of course it might be really bad news but it might also not be. There is no evidence either way except (as I have already indicated) the absence from the RNS of the words ‘materially217; or ‘significantly’ greater than 750000 and the fact that major issues tend not emerge so late in the day. Conversely it is not de minimis or they would not have issued the RNS

[rmillaree] 13/9/2021 12:24

Is there anyone out there who doesn't think that PCF has had long enough?

The problem is we have lack of information to see whether the timeframe is reasonable or not - the most important thing is that they resolve issues and provide correct figures when they do update i think we would all agree. It seems very bad at present that delay means further bad news may be on the way and we still have uncertainty but if the end result is all good then i guess sharreholders will quickly get over the annoyance of the fact that the wheels have turned dreadfully slow here - i think we would all agree they have dropped a big one by not realising the accounts issues till sooner - we wrre where we are in tyaht regard now though - and that issue now needs to be resolved. If we are getting bad news then whether we get this sooner or later possibly makes very little difference - i think most bods on here are aware the next full update might now be really bad news.

[seasidehippo] 13/9/2021 11:32

Unable to comment;

No and no; and

Until the fat Lady Sings

So sad the song!!

[dandigirl] 13/9/2021 09:57

Ah! Hippo, it seems that you just want to be the lone contrarian.

I imagine Mrs Hippo is of that view that you are always right and, of course, you have to have the last word.

One question though, how long is long enough for you please?

Is there anyone out there who doesn't think that PCF has had long enough?

[seasidehippo] 13/9/2021 09:26

As I have said before you cant provide an update if there is nothing to say. IMO the last RNS should not have been released until they had all the information relating to the latest finding. I would rather have been, as you put it, "kept in the dark" until more meaningful information became available.

Sorry to see you join the moaners and cup half empty brigade on this forum