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PCF Pcf Group Plc

0.00 (0.00%)
12 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Pcf Group Plc LSE:PCF London Ordinary Share GB0004189378 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.95 0.60 1.30 - 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Pcf Share Discussion Threads

Showing 4801 to 4824 of 5625 messages
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We are all agreed then. It is utterly pointless to speculate further.

Indeed, much written here these past many months has been pointless speculation. It has help pass the time, though.

That said, I am interested to read all your views and thoughts whenever we finally get to hear something meaningful.

hopes: we are all self-styled, including you. :)

A great Christmas to all.

Hippo: agreed - utterly pointless!
IMO its pointless speculating!! the share price will largely be determined by the market's opinion regarding forecasts; outlook and management team. How and when this is presented will be crucial
“I will honour Christmas in my heart, and try to keep it all the year. I will live in the Past, the Present, and the Future. The Spirits of all Three shall strive within me. I will not shut out the lessons that they teach.”

We should all bear in mind that the share price was around 30p before sellers front-running the bad news pushed it down to the suspension price of 24p. If BV is now 20p and sustainable profit is in the region of 5m this would justify a share price around 15p after the dust settles, i.e down about 50% from 30p. Just saying…..
Have just checked the PCF site on Linked In. They have appointed a new Sales Support Coordinator (whatever that means) and under the heading Deal Highlights have reported a loan of 106k to a Liverpool van rental company to enable the purchase of hybrid vehicles. There are also a couple of posts from grateful customers. I have to say that I am less optimistic than our Panglossian Hippo but considerably more optimistic than our resident Eeyore, the self-styled Dandigirl. Seasons greetings and GLTA.
hopes: possible and I hope you are correct as it would mitigate some of the damage. However, overall loan originations will be down to reflect IMV reduced capital.

Reallocation can only do so much.

I will start dreaming too.

Dandi: is it not possible that capital has been reallocated away from business finance
to used cars during the hard market for the latter. As steam comes out of used car marker reallocate to business finance. Ho hum! I’m dreaming of……R30;

I would do a smiley face, if ADVFN would allow.
"The steam is already leaving the used car market"

I thought used cars were predominantly petrol engine powered?

Let it snow, let it snow, let it snow.

That there is harm being done is surely not in doubt?

Immeasurable at this time but will become clearer as and when we are informed by this lamentable Chairman and his Board.

A steep fall in the share price upon lifting the suspension is surely not in doubt too? Whether it is down to 15p or more or less will be both harmful and measurable.

hippo: I would bet your life that the share price will not open above the 24p suspension price.

The steam is already leaving the used car market. It will have passed by PCF. Such a pity. As above, business trading at a reduced level is harmful to the P&L too.

Then there is the actual costs of these shenanigans. Big harmful hit to the P&L, no? As will be the additional on-going costs.

I remember the share price being in the high 30s. It may have reached 40p+. It will be years before that kind of number is seen again. It will not be a blip.

hopes: You are right, I was referring to trading in the shares. I, too, am of the view that a RI will be required to help rebuild the balance sheet to produce economies of scale. Increased cost base has to be accommodated with increased business.

and hippo: a big ho, ho, ho to you too.

Meanwhile, dream on guys.

Hippo: I think your friend Dandi may be referring to trading in the shares which in case you haven’t noticed have been suspended from ‘trading’; on AIM. That said trading will not resume until after 2021 interims are published. I think also that it is wholly premature to assess (do I dare use that word?) what, if any, long term damage, has been done to the company. Granted there has been significant short term opportunity and reputational cost (plus inevitable regulatory fines) but until we see the 2021 results and 2022 guidance we cannot begin to assess the damage to the company’s long term profitability or what corporate action may be in prospect. My broker’s guess is that we will be lucky to see a share price above 15p when trading resumes but I am more interested in where we will be a year from now. I tend to agree with Hippo that over time this will be a blip on the chart although we may have to put our hands in our pockets to see the recovery. My big fear remains that Somers tries to acquire our shares on the cheap. I for one am not a seller unless the price is reasonable.
"This prolonged suspension has done immeasurable harm and it will take years to recover."

Even with a nearly empty glass how can you substantiate the above comment?

"to enable new PCF to start trading again from the first days of 2022"

I wasn't aware that they had stopped trading!

The seasons greetings to you also Ho, Ho, Ho

This morning S&U provided a strong trading update.

It reminded me of the words in the last para of the latest PCF update especially “at a reduced year on year level” which struck a note with me at the time. I took this to mean that the balance sheet has been shrunk and the P and L with it.

Glass half full grates on me. Opportunities in a vibrant market which will not continue forever are passing by PCF. This prolonged suspension has done immeasurable harm and it will take years to recover.

Fortunately we are shareholders in S&U too. A company well managed by the Coombs. If only SOMERS had taken better care of our/their investment.

Season’s greetings to all and let us hope that the suspension is lifted before the end of the year to enable new PCF to start trading again from the first days of 2022.

My guess would be w/c 10 January
Late December... 4th week? 27th?
Early January.... 1st week... 3rd January?

I rather hope they will marginally over deliver on the promise this time and get it done by 27th Dec..

"A right riveting read"!! I'm reasonably happy with the information provided to date and now look forward to the end of December/early January with relish.
cc: fascinating - thank you. I imagine Somers might have written a similar letter if they had 20% and no seat on the board - in which case they would have been as much in the dark over the past six months as we small shareholders have been. Noteworthy that the DX Board is criticized for communication which is ambiguous and lacking in detail - exactly my complaint about the PCF Board.
For info to give some comparison with what is expected of a board in the real world.

DX. can't get their accounts done on time and shares will be suspended in a month and Board fail to explain why. Their major shareholder has written an open letter to them which is somewhat unusual.

I hope it might be of value by read across to readers of this thread.

Well the good news is that PCF was the only share that wasn't showing red on my portfolio, just the usual £-.
What's the saying? Time is a great healer!! Purely speculation but I would also imagine they will want to publish some excellent figures/forecasts/outlook to coincide with lifting the suspension so again good reason to wait for the end of a quarter (December) rather than end of November.
My cup is certainly half full pending news/impact regarding latest Covid variant, which could be a dampener.

Thanks hopes. Just wish it had been more widely understood/ shared. (I can't find a primary source for this information even now that I know of the rule change!)

I imagine the company must have known, since according to the source I found, the extension is valid for suspensions between 30 September 2019 and 1 July 2020.


Anyway, panic over, for now. I still can't get my head around why this is all taking so long but broadly agree with the glass-half-full perspective.

the millipede
Seaside/TMP: the extension from 6 to 12 months is a blanket extension and applies generally to all AIM companies whose shares were suspended during the relevant period. PCF did not have to ask for discretionary treatment - hence no mention of it in an RNS.
CC: I will correct you. There was no rights issue. In 2019 there was a placing and open offer. The placing raised 10 million pounds and was supported by Somers and the directors. The open offer was added after existing shareholders including me complained very loudly that we were being diluted. To accommodate us the company offered existing shareholders shares worth 0.75 million pounds by way of the Open Offer, and Somers and the directors agreed not to subscribe for shares in the Open Offer as they were participating in the much larger Placing and it would have been unfair to other shareholders if they had also swallowed up the bulk of the Open Offer. I remember it all very well. The company was riding high and there was a lot of demand for shares. If you want to spin it as evidence that, by not participating in the relatively small Open Offer, Somers were indicating a desire to reduce their stake be my guest, but I think your narrative rests on the flimsiest of foundations. Had Somers wanted to reduce they could have done so after the Placing and Ooen Offer as the share price increased from the subscription price of 25p to over 40p - but they didn’t. Acta non verba!
Others will know the background far better than me and I'm sure will correct me if I'm wrong.

PCF has been around for decades.

Somers arrived and injected loads of capital in return for shares, resulting in their 60%+ holding.

They have been trying to reduce this for some time evidenced by the fact that in the last rights issue, Somers were happy for other investors to take more than their fair share. (This is quite unusual, normally the minor shareholders get screwed over so Somers wanting less than their fair share indicated their willingness to reduce). Further, I had a conversation with Scott which indicated Somers preference to start reducing their shareholding as a percentage (but not necessarily their investment value).

There is now no possible way Somers can sell this shareholding at a "fair value". PCF is tainted by the current issues. It will also be an embarrassment to them. Best to write it down to near zero (Somers have had a great 18 months so shareholders won't hardly notice), take it private and deal with the issues without outside scrutiny.

I strongly suggest research of Somers/ICM and the various other intertwined parties is worthwhile.

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