Pcf Share Discussion Threads

[graham1ty] 30/6/2022 10:23

Asked about where they think NIM will go, Garry says “that is quite a technical question”. No it isn’t. It is the most fundamental measure of potential profits…..

[graham1ty] 30/6/2022 10:16

Hardly a “presentation”. Just 15 mins and one slide

[graham1ty] 30/6/2022 10:15

Garry is proud of his team, proud of the work the finance team has done. He is almost smug. Has he not read his own announcement ? Going concern issues, need for more capital, costs through the roof.

[graham1ty] 30/6/2022 09:50

Told that investormeet would be open 15 mins before, so could send questions before the meeting. Well, it isn’t. So we cannot

[cc2014] 30/6/2022 09:46

Results shocking.

No trades so far, which is just as surprising.

[rightnellie] 30/6/2022 09:30

They seem to have salaried themselves into company bankrupcy. They have plundered and pillaged making their own wallets very fat and shareholders very poor. No solid reasons given - mainly hot air and just a smoke screenfor dubious hires of experts ( their friends?)

[dandigirl] 30/6/2022 09:02

Extremely irritated to read of “well documented challenges”!

No, Gary. They have not been well documented. This shareholder would like to know what transpired here, in detail, to justify the huge subsequent costs incurred.

N.B A cost income ratio of 156%. (I know, it’s a one-off, blah, blah, blah).

I draw attention to the Going Concern statement.

[dandigirl] 30/6/2022 08:53

geraldus: Yes.

[dandigirl] 30/6/2022 08:52

geraldus: Yes.

[graham1ty] 30/6/2022 07:42

I was planning to spend this morning writing questions for the investormeet presentation today. Now I see that questions had to be submitted BY 9AM yesterday. Or they can be submitted during the meeting.

My fault for not looking at this detail before, but means I will be desparately tapping away during the Q&A, trying to type faster than they answer. Not a very satisfactory way of running this

[graham1ty] 30/6/2022 07:40

The rise in operating costs is mind boggling. In 2019, old regime, pre COVID, they had a loan book of £276m, and total operating expenses of £6.9m.

Today they have a loan book of £342m and total operating expenses of £18.2m.

That has added over £11m of overhead IN JUST A SIX MONTH PERIOD.

No wonder there are sodding great losses.

Shareholders are entitled to look at the 95% destruction of shareholder value and ask whether this has been done competently or correctly.

[geraldus] 30/6/2022 07:22

Results showing on ADVFN.

[graham1ty] 30/6/2022 07:18

Have found the results on the London Stock Exchange site, but they appear not to be on investegate. I have also not had the usual email alert

[graham1ty] 30/6/2022 07:13

So, where are the results promised for today ? Cannot see an RNS yet…..

[geraldus] 30/6/2022 07:09

Is Castle Trust still in play?

[tomboyb] 28/6/2022 15:47

28/06/2022 3:38pm
UK Regulatory (RNS & others)

Pcf (LSE:PCF)
Intraday Stock Chart

Tuesday 28 June 2022

Click Here for more Pcf Charts.
TIDMPCF

RNS Number : 5194Q

PCF Group PLC

28 June 2022

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE, NOR AS TO THE TERMS ON WHICH ANY OFFER WILL BE MADE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

28 June 2022

Update and Extension to period for receipt of Possible Offer

On 31 May 2022, the Board of PCF Group plc ("PCF" or the "Company") announced that it was in early stage discussions with Castle Trust Capital plc ("Castle"), in relation to a possible all share offer for the entire issued and to be issued shares of the Company (the "Possible Offer").

In accordance with Rule 2.6(a) of the Code, Castle was required, by not later than 5.00 p.m. on 28 June 2022, to either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.

These discussions are continuing to progress and today, the Board of PCF confirms that, in accordance with Rule 2.6(c) of the Code, PCF has requested, and the Takeover Panel has consented to, an extension to the date by which Castle is required either to announce a firm intention to make an offer for PCF in accordance with Rule 2.7 of the Code or to announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies.

Such announcement must now be made by Castle not later than 5.00pm on 26 July 2022. This deadline can be extended by the Board of PCF with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.

There can be no certainty that any offer will be made. A further announcement will be made in due course.

This announcement is made without the approval of Castle Trust Capit

[tomboyb] 28/6/2022 15:47

rns Possible offer -

[dandigirl] 28/6/2022 15:46

Ha! Castle extended to 26/07. Proposals must be interesting enough for SOMERS to agree to continue to chat.

[graham1ty] 27/6/2022 07:38

Nothing from Castle this morning. They have until 5pm tomorrow.

Mind you, we have no idea if their approach was credible in any way.

[dandigirl] 26/6/2022 19:23

My Mail on Sunday shows PCF paying the highest rate for both 3 and 5 years fixed. A small positive, I think.

[hopespr1ngseternal] 24/6/2022 22:11

Graham: lack of volume implies the absence of sellers ‘at any price’ which in turn suggests that the weak holders are now largely out of the stock - a mild positive for the rest of us.

[cc2014] 24/6/2022 18:10

It's not just PCF Graham it's the whole market.

PI's have been hit hard by the falling markets and they stop posting once the loss becomes painful or their have no spare cash left in their pots to look at new investments.

In response to the falling volumes the MM have opened the spread to keep their profits up and to ensure they aren't caught out in this volatile market. That makes things even worse.

[graham1ty] 24/6/2022 17:42

Massive indifference. Appears to be just a single trade today, valued at about £60.

Days before interims and Takeover Panel end date

[graham1ty] 24/6/2022 13:30

So, interims two days after the Takeover Panel “Put up or Shut up” deadline of 28 June