Pcf Share Discussion Threads

[dandigirl] 05/2/2022 14:29

Graham: My tuppence worth...

When I invest in a company with a 60% plus shareholding, I accept that the big shareholder will be calling the shots.

Whether or not the 2020 accounts, etc., were going to be approved was down to SOMERS and it was clear they were going to support. No point in getting angry - besides those accounts are 16 months out of date and most on here, including me, have gone past the angry stage.

Further, we have new faces on the Board. Most are not responsible for the past and these are the people who we hope will take PCF forward.

For those who haven't seen the AGM, do take 10 minutes to listen from about 11 minutes on to the end.

I thought that in general the directors acquitted themselves well and gave me confidence for the future. Glad to see the back of Franklin who oversaw the disaster. New non-execs look the part. Am warming to Stran and Richardson. They appear to be safe pairs of hands. I will feel more comfortable, though, after Higgins is no longer Chair of the AC. Suspect she will be gone after the 2021 annual report is published. Also suspect their will be a change of IA.

If you asked the questions, well done, even though they were parried. Liked the question re: GT although the answer was only to be expected. That Higgins is still around suggests that GT is more to blame than the AC. Nevertheless...

The one answer I didn't like was Stran's to that about expanding the business - the growth agenda as he called it. My guess is that growth is dependent in part on fresh capital which Stran alludes to.

Based on what I have seen and heard in recent days, I will be supporting a RI. However, I need to see 2021 figures before deciding and, of course, the Board will have to make the case in a prospectus.

It will take time to re-build but am feeling better today.

[graham1ty] 04/2/2022 10:23

Shareholders have to take an interest in their company. I had a back operation last week and could not attend. There appeared to be very, very few ( if any) shareholders in the room, and not one single question from the floor.

I asked about ten questions online, all of which were addressed, reasonably honestly ( even if a bit evasively). Not one other question was asked by one other shareholder.

Where was the anger, the frustration, the reflection of how much shareholders have lost ? If shareholders, who own their chunk of the company, cannot even be bothered, the Board will continue to treat us with contempt. They will have left the meeting thinking that absolutely no one cares. They have “got away with it”

Really disappointing……

[cc2014] 04/2/2022 10:10

Somers voting for all the resolutions anyway...

[graham1ty] 04/2/2022 10:07

Looks as if virtually no one in the room…..no questions on the Report and Accounts….8562;😲ԅ43;😟

[graham1ty] 04/2/2022 10:05

If he talks slowly enough, should squeeze out any time for awkward questions…R30;

String out the formal business for ages….

[davidosh] 02/2/2022 16:13

Are any of you attending the Agm on Friday?

[dandigirl] 02/2/2022 14:24

"in due course". No commitment as to timing given the new auditor.

We may learn more later this week.

In past years accounts have been issued by end Feb.

However, PCF have until 30/06 to file at CH.

Guessing, accounts should be lodged with regulators by the end of this month but there may be some sort of dispensation in play.

In summary, depends upon the auditors.

[georgelees] 01/2/2022 14:14

So when do we expect the next accounts? Was any clue given?

[graham1ty] 01/2/2022 08:31

There is a Proactive video on the interims on Research Tree that I had not seen before. Does not add much, however reasonably reassuring

[geraldus] 31/1/2022 15:33

Thankyou.The rev obviously blames himself for his poor investments unfortunately some with church funds.PCF looked very safe at the time.Years ago at the church fetes there was always a boxing booth with the rev taking on 'all comers'.He would give local hard men a leathering in the name of God.He has even talked of dusting the gloves off again,not a good idea at his age.I suggested if he wanted redemption with Easter coming up he would be better off doing a sponsored crucifixion.

[dandigirl] 31/1/2022 11:14

geraldus: sorry to hear. He shouldn't take it too hard. Professionals in charge here didn't do as they were supposed to. Men behaving badly in some cases it seems.

Even in our dotage, we are still experiencing painful lessons. Wish him well.

[geraldus] 31/1/2022 11:07

After yesterday's Sunday sermon I enjoyed a cold meat supper with my old friend the reverend.It was a subdued affair discussing the demise of our local investment club and our rather large holding in PCF.I had known the rev for years,we used to go to different schools together.Sitting across the table I noticed he now had hardly a hair left on his head(anxiety problems) and his eyebrows were not looking too clever.He had bizarrely suggested painting some hairs on his head and I jokingly said ,'why don't you paint some rabbits on your head they will look like hares from a distance.'Hardly a response.Difficult to believe he was once the Diocese welterweight champion.

[dandigirl] 31/1/2022 11:05

hippo: you are the one who cast the aspersions. It is for you to answer. Shame on you.

... and hippos and humps was to be taken figuratively, not literally. Geddit!

[seasidehippo] 31/1/2022 08:55

Ask your mate hopes lol

[dandigirl] 31/1/2022 08:27

hippo: Please list the inaccuracies. Thanks.

[seasidehippo] 30/1/2022 09:18

Hippos dont have horns or humps. Yet another inaccuracy!!!

[dandigirl] 30/1/2022 08:17

Got the hump again, hippo?

[seasidehippo] 29/1/2022 16:56

Drama Queen(s)!!

[rmillaree] 29/1/2022 16:36

"suffice to say that MH are new to bank audits"
Strewth if thats true wt heck.

[dandigirl] 28/1/2022 18:10

Axiomatic!

[seasidehippo] 28/1/2022 15:40

I think if you raised a question for the meeting and it was missed/ignored you should write to GS and/or CR and ask why? rather than raise the issue on a public BB and set a hare running. I'm sure both GS and CR would be only too happy to provide you with a logical explanation.

[dandigirl] 28/1/2022 15:05

hippo/hopes: Wouldn't wish to go into detail. GS and others clearly read message boards and to be too specific would identify me. :)

I suspect that anything to do with the role of the IA and the inter-action with the AC is under close scrutiny. If it isn't, it should be! If I were SOMERS - Mr Morgan if you are paying attention? - that's where I would be asking questions.

As regards MH and GT, there is plenty of stuff around if one looks. I have been reluctant to post on this but suffice to say that MH are new to bank audits. However, given where both parties are, that could be beneficial, maybe.

[seasidehippo] 28/1/2022 13:48

Why does that not surprise me?

[hopespr1ngseternal] 28/1/2022 13:22

Dandi: I also asked about the internal auditor but more in hope than expectation