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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 4926 to 4950 of 5625 messages
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Or whet the appitite for more searching questions?
This 8/9 month saga has certainly been enough to turn anyone to drink.

Designed to take the sting out of the subsequent general meeting?
My good friend the reverend just phoned me.His very words - 'My cup runneth over'.He is indeed a happier man with faith restored. - Hallelujah.
How many questions and answers in 1 hour? still IMO this is an excellent major step forward.
For the record my cup is now three quarters full!!

Blimey, heads above the parapet……;..amazing they doing this prior to the AGM
PCF Group Management Virtual Q&A Event

PCF Group plc is announcing that Interim CEO Garry Stran and Chief Financial Officer Caroline Richardson will be holding a question-and-answer session via the Investor Meet Company platform on 27th Jan 2022 at 10:00am GMT.

The session is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9am the day before the meeting or at any time during the event.

Investors can sign up to Investor Meet Company and register for the event using the below link:

I suggest things must be moving along positively if they are ready to do this only a few days before the AGM

hello hopes, yes, my hopes are beginning to spring eternal but I would like to know the extent of the damage before getting too carried away.

The financials will have taken a massive hit both balance sheet and P & L.

The costs will be relatively large both by way of those in connection with this exercise and on-going - all against a diminished business.

On the subject of on-going, hippo, think this new chappie is more mercenary than just a plain old soldier. As such, he will require to be paid accordingly. Big Lots!

Franklin had to go. Who would want to invest with him in the Chair? See that young Morgan kept his position as the SOMERS rep. Not sure what to make of that. Suggests that they are staying in for the long haul but would not be surprised if something else turns up to surprise.

Can't wait to review the prospectus and see how much we have to put-up to avoid dilution.

The appointments look good to me. The Chair in particular looks like he knows his stuff and hopefully will kick things into better shape.

Much better than the cowardly Franklin who is retiring no later than January 31st, a mere 4 days before the AGM and won't have to answer to shareholders for his actions.

Dandi: welcome to glass half-full land!
Agreed excellent appointments!! including an ex Army Officer
Agree some good news. They look suitably qualified.
Today's RNS.
Like it.
These look to me to be good appointments. Word on the street suggests that Moore knows his stuff.
And the RNS is encouraging with the reference to 2022 and beyond.
I see light at the end of the tunnel.

Are we expecting this report on financial controls [and the interim results] before a view on lifting the suspension 'towards the end of Jan.' Or will it be silence...
CC: I doubt the Board are a primary target. I am sure that they will have acted in accordance with advice from their broker and PR adviser in deciding whether and when to issue an RNS and/or suspend trading.
CC: I doubt the Board are a primary target. I am sure that they will have acted in accordance with advice from their broker and PR adviser in deciding whether and when to issue an RNS and/or suspend trading.
Thanks CC. Appreciated. It wasn't made clear that AIM Rule 26 was the first port of call.

Have read it.

The spotlight continues to shine bright and strongly on the role of GT as the internal auditor.

Perhaps time to consider whether you guys have any right of redress as to whether the Board informed the market appropriately with regard to the auditors fraud concerns?

Given the auditors gave verbal notice to the Board in March but the shares continued to trade until much later, one must assume the information leaked out. Many will have bought between March and the "temporary suspension" on 19th May

Under the heading ‘Notifications made in the last 12 months’
Hidden away under AIM rule 26 !

Dear Shareholder,
In its letter of resignation as auditor of PCF Group plc (the “Company”;) dated 23 December 2021, Ernst & YoungLLP, detailed certain matters which it felt were matters connected with its ceasing to hold office that it consideredneeded to be brought to the attention of members or creditors of the Company in accordance with section 519of the Companies Act 2006.

This requirement was announced on the 23 December 2021 by the Company in its “Board Changes and Changeof Auditor” announcement, however, as we are required to also send that statement to you separately undersection 520 of the Companies Act 2006, these matters are set out in the schedule to this letter for yourconsideration.
I would ask that you consider these matters in conjunction with the contents of the Audit & RiskCommitteeReport in the Report and Financial Statements for the year ended 30 September 20201

Schedule - Ernst & Young LLP’s (EY) section 519 Companies Act 2006 statement of matters connected
with its ceasing to hold office that it considers need to be brought to the attention of members or
creditors of the company.
“On 2 March 2021, we verbally informed the Board of Directors of our intention to resign following the
completion of the 30 September 2020 audit.
At that time, we had concluded that we would be resigning due to our audit work identifying significant
deficiencies in internal control and corporate governance, which had led to material adjustments being
identified as a result of our audit procedures. These adjustments included material errors in the unauditedpreliminary results published on 9 December 2020. Furthermore, in our audit report dated 22 December 20212, we state that as a result of enquiries raised by us during our audit of the financial statements, the Group’s new Chief Financial Officer identified certain accounting errors and misstatements that led to the Company engaging a third-party accounting firm to undertake an independent forensic investigation into those errors and misstatements. Following this, the Group
Chief Financial Officer and Finance Function undertook its own further analysis and reconciliation procedures.
The independent forensic investigation identified certain manual adjustments made by the Group for internalmanagement, financial and regulatory reporting purposes. We concluded that certain of these matters wereindicators of fraud.
Given the potential wider consequences of this on our audit, we sought to extend our procedures and presenteda plan to the Audit Committee in July 2021. We were unable to complete our audit for the following reasons:
- Management was unable to provide sufficient and appropriate audit evidence in response to our extended testing requests.
- The Board of Directors resolved in July 2021 that management should only continue to provide us with the information necessary for us to issue a disclaimer of opinion on these financial statements.
For the same reasons as set out above, we were also unable to complete audit procedures over reclassificationsas described in note 1.9 to the financial statements3.”

Can't find it on their website?
RNSAs detailed in its announcement of 23 December 2021, PCF announces that it has now posted to its members the notice of certain matters that Ernst & Young LLP, as resigning auditors, considered need to be brought to the attention of members and such creditors as it is required to under the Companies Act 2006.
Cc: thank you for clarifying - I suppose my point is that by July relations between PCF and EY may well have reached such a nadir that PCF wanted nothing more to do with EY apart from the disclaimer and certainly not to have homework marked by them. Pure speculation of course.

"There is no evidential basis for your suggestion that the July decision to opt for a disclaimer was designed to cover up the fraud."

This was not my point. My point is that where such a thing to be taking place then it should be investigated by the auditors. To not do so means the Board are marking their own homework.

I think shareholders deserve better.

CC: if you read the report of the Remuneration Committee you will see that action is being taken against unnamed individuals to recover remuneration and compensation for loss. After their exhaustive review I have no doubt that the company knows (and the auditors know) exactly what has gone down. There is no evidential basis for your suggestion that the July decision to opt for a disclaimer was designed to cover up the fraud.
Topvest: the Board including three CAs is comfortable with the Sept 2020 b/s so why should the new auditors not be? I assume all this has been discussed with the new auditors. It is obvious that there has been a complete breakdown in the relationship between PCF and EY.
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