Pcf Share Discussion Threads

[seasidehippo] 28/1/2022 10:03

Your time may be better spent reading the article "EY fights fires on three audit cases that threaten its global reputation" included in the FT June 20!!

[graham1ty] 28/1/2022 09:28

Only just spotted this, when trying to find out about Macintyre Hudson



Macintyre Hudson under investigation over audits. Pity no one spotted that prior to yesterday

[seasidehippo] 28/1/2022 09:03

What was your specific question?

[dandigirl] 28/1/2022 07:16

.. and my question regarding the role of the internal auditor was not raised. Far too sensitive, I suspect.

[123davidgwilym] 27/1/2022 18:50

I agree with Dandi and Hippo.
My impression of the new directors was positive and I’m happy they can see a clear way forward. Obviously there were strong constraints on what they could say.
I was concerned at the beginning of the pandemic because PCF should have kitchen-sinked everything and failed to do so. If they had done so, PCF would be in a different place now.
I think the majority shareholder may have taken a different view at the time.

[geraldus] 27/1/2022 18:37

Thanks for enquiring after the rev.We had some cheer in the form of his homemade elderberry wine.Not my favourite tipple but it's great for removing mildew.

[dandigirl] 27/1/2022 17:44

Just to add that I, too, thought the quality of the sound and vision should be so much better. For starters, the microphone was too far away from GS and CR.

[seasidehippo] 27/1/2022 16:27

IMO the mood of the meeting was positive and contained an appropriate level of apology. Importantly for me CR and GS came across as being both confident and knowledgeable and showed clear signs that they enjoy working together as a team. They said that the culture in the organisation had changed dramatically. They have a clear vision for the future to take the companies 30 years of experience and create an organisation in the Modern World with emphasis on economic value in Loans; Brand and operating Platform. Unfortunately due to restrictions they were unable to provide any more financial information than we are already aware of. On the evidence of this meeting I would be happy if GS is made full time CEO. Anyone who has the ability to freeze water in mid air while pouring a glass of water out of a bottle will do for me!! ( The quality of the sound and picture of the meeting could have been better). A sincere thanks for holding this meeting and many more of them.

[hedgehunter2] 27/1/2022 13:16

If Directors ao bullish why not buying own shares?

[graham1ty] 27/1/2022 11:54

Was mood angry ? Apologetic ? Evasive ?

[cc2014] 27/1/2022 11:37

Nothing to say. No meaningful additional information provided in presenation.

[dandigirl] 27/1/2022 10:18

Sound is awful - even with headphones - but I can still hear the waffling.

I will listen later to the recording which, hopefully, will have better sound quality.

[seasidehippo] 26/1/2022 17:16

Codswallop!!

[7rademark] 26/1/2022 16:44

Pushing the share price blue was hard work for the mms, they found it very easy erasing 40% off the share price yesterday.

[dandigirl] 26/1/2022 15:17

7rademark.
Thanks.
There are some good posters on this site if you have time to look back.
We should know a lot more when the annuals are published, hopefully imminently.
You may wish to wait, though, to see if there is an RI or not.
I should add we are nursing big "losses". Our modest purchases are to top-up and level down, just a bit. :)

[seasidehippo] 26/1/2022 15:05

Sustained buying this p.m. looks good, especially given that there arn't that many shares in free flow.

[7rademark] 26/1/2022 12:02

Thanks DG , you obviously know your stuff, I took a punt this morning based on yesterday's over reaction, a bit more reading and I'll probably buy in.

[hopespr1ngseternal] 26/1/2022 11:20

I would be a buyer at these levels if I weren’t already overweight. The new team appears competent and should be given a chance to deliver. Once the weak holders are out the share price should strengthen provided that the message from management remains positive.

[dandigirl] 26/1/2022 10:47

Hi - My thoughts, briefly.

Most on here liked the top two former execs and the business model although I had reservations regarding the AZULE purchase, it represented only a small addition. Having obtained a banking licence, PCF was thought to be ripe and readied for expansion.

However, with hindsight, it seems that having obtained the banking licence the company did not put in place all the necessary IT infrastructure and people to operate as one. IMV, a big failure against Franklin and his board. He should have made sure that such things were addressed.

A new CFO arrives and pulls at the thread of regulatory reporting. From there, the jumper unravelled. Some wonder, and I am one of them, that perhaps there was an over reaction to things that could have been rectified quietly internally without all this woo-ha. But that is now history. We are where we are.

But, more importantly, where are we going? The new CFO will be ensuring that the IT will be brought up to requirements. There are several other new hires but, particularly, I am heartened that Franklin is departing the scene to be replaced by what by all accounts is an excellent new Chairman. He doesn't take prisoners. :)

We still don't know what SOMERS intend but all the signs are that they are staying the course. And why not? Having taken the pain, they will probably stay in for what we hope will be the gain back to normality.

PCF still have the opportunity to increase market share and return to making a decent return on capital.

The future looks bright. Some would say that their glass is more than half-full.

[7rademark] 26/1/2022 10:04

I'm considering taking a position, yesterday's fall seems overdone, probably holders taking out money that's been tied up for so long, any compelling reason to buy in your opinion.

[dandigirl] 26/1/2022 09:19

Topped up at 12.25! Not many though! Just rounding up.

[7rademark] 26/1/2022 08:37

Looks a good recovery play, still making money, as long as they get their act together there is value here.

[cc2014] 25/1/2022 22:08

PCF still not taking in customer deposits Topvest.