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PCF Pcf Group Plc

0.95
0.00 (0.00%)
23 May 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 5201 to 5223 of 5625 messages
Chat Pages: Latest  213  212  211  210  209  208  207  206  205  204  203  202  Older
DateSubjectAuthorDiscuss
17/6/2022
09:18
Hmm. No interims yet and no share offer.

If they want to get this done by the end of the month then Monday is about the last possible day.


I note that Somers Ltd have an unsolicted offer from 95% of the shareholders to acquire the rest of Somers

I'm not sure how it's unsolicited since as you plod up the tree up control the party at the top is Somers Trust but I can't be bothered to unravel it and possibly it looks like there are other parties in between which Somers Trust only partially controls or perhaps not at all legally in the sense of a shareholding.

cc2014
15/6/2022
17:23
Well, Castle Trust does not own a share…….
graham1ty
15/6/2022
08:18
The Disclosure of Directors interests in todays RNS just shows how the Directors interests are not aligned to those of shareholders.

Garry Stran owns shares worth…..£3500
The FD, Zero
The Chair of the Audit committee, Christine Higgins……;£1000.

I am pleased that one of the “old board”, David Morgan has some pain. His 500,000 have declined from c£225,000 to just £18,000. Ouch.

graham1ty
14/6/2022
16:32
It doesn't say that Stiching bought shares. They might have...but then they might only "control" them. 12.5% is a blocking shareholding.
ted1985x
14/6/2022
16:32
It doesn't say that Stiching bought shares. They might have...but then they might only "control" them. 12.5% is a blocking shareholding.
ted1985x
14/6/2022
14:32
Graham: agreed. We need to form an action group. Is anyone interested?
hopespr1ngseternal
14/6/2022
07:31
Staggering that a couple of “alleged”; naughty returns to the PRA by the previous management ( I am not condoning or dismissing their seriousness), and some systems that were deemed ( by the new management, but not by the Board, the Audit Committee, the PRA or Ernst & Young) to be not up to scratch, have brought this to its knees.

Value destruction of appalling magnitude. And shareholders still do not have a full, open and honest account of what was so bad that it merited a 94% fall in the share price.

graham1ty
14/6/2022
02:18
I don’t for a moment believe that Somers (who have far more information than the market) would be injecting 4.5m if folding is the likely outcome.
hopespr1ngseternal
13/6/2022
22:56
Needs chunk of new capital and couple of years to rebuild bank to any value. Market beginning to price in no buyer or capital and possible wind up. Seems crazy to take costs of all the remediation work and then let it fold? Would be cherry picker buyers for assets but cost base a worry for anyone buying lock stock and barrel.
Somers Capital top up is insufficient , maybe just buys time with potential buyers and maintains it as “ going concern” for now. Being listed is of some value but Somers has most of it now so little float.

goddamitmaverick
13/6/2022
15:07
Same mob. Look at the signatory, Heijst
graham1ty
13/6/2022
14:24
Sorry I thought you were referring to Stitching who announced their holding today
cc2014
13/6/2022
14:17
Mind you, from 2010 to 2015 the PCF price was below 10p, falling to 3.2p in 2012.

So, it is possible they are not way off on their buying price. The paper loss however, from 45p, on 38m shares however is almost £15m.

graham1ty
13/6/2022
14:14
They have been there a while. In the 2015 accounts Hendrick van Heijst held 5.74% and Beleggingsclub Stockpaert 3.77%
graham1ty
13/6/2022
13:36
IIRC one of them appeared around the time of the rights issue at around 30p.

Lots of volume went through after the rights issue and I think that was the moment they went over 3%. Not sure if it was this crew though.

Not much point in them selling now. Choosing when to use the capital losses may be of some value to them.

cc2014
13/6/2022
13:13
I cannot recall how the two Dutch shareholders came to be on the Register. They have both lost a fortune…..

Would love to hear their views on this fiasco…

graham1ty
13/6/2022
10:39
Who’s on the bid ? Market makers, bottom feeders?
goddamitmaverick
13/6/2022
10:10
3.5p on the bid, glad I only had a couple of hundred pounds in this dog.Market is very unimpressed.
che7win
11/6/2022
15:14
Pcf has a viable business if it can share costs. Hence a business combination is the way forward not a sale and liquidation. This is particularly the case given that assets worth 6 million have been derecognised because of going concern issues.
hopespr1ngseternal
09/6/2022
18:00
You need critical mass as a bank to cover the core cost base with all the regulatory burden. Probably a bal sheet of £1bn to make a decent return. The problem is when you can’t generate capital from earnings you depend on your investors. If they don’t show up you have to sell or fold unless you find new backers . Start ups are “ clean” existing players have legacy systems and higher cost bases. Value to a buyer is probably capital less a few months losses less wind down costs . That would be consistent with minority holding in combined Castle Trust , 20% ? Or maybe just wait and bid for loan portfolio and deposit book only and let existing shareholders and management wind down ops. Chances of a white knight with a premium bid seem low and a non bank buyer takes time to get approval.
goddamitmaverick
09/6/2022
08:41
topvest: so what would you have us do please?

We have two choices - stay or go.

Those who wish to sell can do so.

Those who wish to wait for more info rather than sell can do so. We are in this group.

Anything else to be helpful please?

dandigirl
08/6/2022
20:42
There seems to be a fair amout of ignoring the obvious on this board. I am simply trying to be helpful and to point out the obvious:
1. PCF have announced they are going to make a heavy loss and are being temporarily supported by Somers.
2. They are in discussions on an offer that is highly dilutive to all shareholders including Somers. Highly dilutive at a share price of 5p obviously means pretty close to nothing. If this company had any great future ahead it would have rejected the possible offer immediately, rather than enter into early stage discussions.

topvest
08/6/2022
15:57
Do you think the Board are surprised by the share price weakness ? Do they think they have done a good job, rescuing poor old PCF from the previous evil regime ( or as others might put it, ruining a perfectly good business ?

We do not know the extent of accounting issues, though we are told it was not fraud and there are no criminal investigations. However, the “remedial̶1; action has destroyed 90% of shareholder value, and brought the Company, apparently, to its knees ?

What would careful examination of all they have done in the last year reveal ? That new systems have “added value” by making systems more robust ? That monies paid to consultants has been well spent ? That the Board is great value and all the Directors who have been on the Board throughout have done a great job ?

One day, I hope, someone will examine the actions of the last year, and see whose interests have been best served. Not the owners of the business, us and Somers. On that note, I would love to see anger and outspokenness from Somers. They have lost more than anyone else. Where is the outrage ? Where are the sackings on the Board ? Tim Franklin, Chairman, received £95,000 each of the last three years, and £90,000 in 2018. So, a short £500,000 for presiding over this debacle. Every penny of that should be given back

graham1ty
08/6/2022
15:25
Cc: try to buy in the open market below 5p and see how many shares you can get without pushing up the price. Very few I suspect.
hopespr1ngseternal
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