Pcf Share Discussion Threads

[hopespr1ngseternal] 23/8/2022 18:14

The exact words are ‘the remaining commercial terms’ which is not inconsistent with the previous RNS

[goddamitmaverick] 23/8/2022 15:43

Reference of commercials still to be agreed. Previously they said largely agreed.3 months in you might have expected some agreement subject to DD

[cc2014] 23/8/2022 15:23

Yeah but it does sound like Castle have some serious intent rather than sniffing around just because they can.

[dandigirl] 23/8/2022 15:13

Another extension! Strewth!

[cc2014] 23/8/2022 14:57

It sounds like they are getting closer

[goddamitmaverick] 23/8/2022 12:27

Good news tends to be broken early and not so good late. Share price now down 40% from last 5p placement .All buyers are opportunistic , but they are looking at a loss making business with oversized costs and have to price in restructuring . Smaller buyers won’t want to be pulled down.
Further extension and delay until 20 September just announced .

[cc2014] 23/8/2022 11:08

Hmm.

On the first extension the RNS came out at 3:38pm
On the second extension the RNS came out at 9:31am

Anything could happen later

[dandigirl] 23/8/2022 08:30

Looks like discussions have not yielded a deal acceptable to Somers, as yet. Good. Castle appear to be opportunists.

“””;”Such announcement must now be made by Castle not later than 5.00pm on 23 August 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.””””

Agree that Somers should have pressed on.

Maybe they have and that RI will be out before the end of the week?

Note to the Board and Somers. For goodness sake, please demonstrate some progress at something to justify your disproportionate remuneration. Selling on a tiny amount of bad debts doesn’t count.

[goddamitmaverick] 22/8/2022 17:12

Could be brokers who bid PI having to move inventory and cut positions.Eventful week?
Probably more delays, as Rome burns. Could be other potential buyers out there but all takes time investors don’t have. Somers destroying value, they would have done better to put in the capital required to grow to profitability while insisting in cost cuts and then sell from position of strength but guess they lost confidence

[dandigirl] 22/8/2022 08:03

Should be an eventful week but will it?

[cc2014] 19/8/2022 12:02

Volume in £ is so low...

It looks to me like the MM reacting to order flow.

A few buyers averaging down or deciding PCF is worth a punt at this price, but the sellers keep coming. Volume on both sides is small in £ and any sizeable volume could move things fast in either direction.

It's hard to say whether the sellers are frustrated PI's pulled in either by Simon Thompson or ramping on this stock moving on or whether it's a bigger holder dumping but restricted by the low level of buying. If I had to guess it's PI's.

[graham1ty] 19/8/2022 11:18

Very weak today ??

[dandigirl] 17/8/2022 17:45

While averaging down with some purchases in recent days, couldn't help but notice a few sizeable trades [by number of shares] going through.

[goddamitmaverick] 17/8/2022 12:17

Yes, should but will they? Remain cautiously pessimistic. Has a formulae price even been agreed I wonder ? Any further extension would be pretty weak without a very good explanation why. Rules are there for a reason with listed entities.

[dandigirl] 15/8/2022 09:00

Next week, 23/8, is the next date of importance. By then the Board should either come up with the RI or something from Castle. Shame on them if there is yet another extension.

[goddamitmaverick] 14/8/2022 22:16

Can’t tread water for much longer

[dandigirl] 10/8/2022 08:47

While this lot continue to tread water, S & U continue to move forward with a great trading update this a.m.

How much longer Messrs Moore and Stran?

Why does PCF appear to take forever at whatever?

Let's have less process and more action please!

[dandigirl] 09/8/2022 09:28

Looks like the RI has been shelved in favour of a deal with Castle.

Wish they would get on it though, one way or the other.

[che7win] 30/7/2022 17:12

General meeting

[goddamitmaverick] 26/7/2022 21:37

I know the share register 😂 I am looking at recent purchases which are more revealing , even family offices make the mistake of averaging in sometimes .

[cc2014] 26/7/2022 10:14

I have spent 20 minutes trying to decide whether to buy or not. I've decided not, but I might change my mind. That's about as indecisive as anyone can be!


On the one hand some key commercial terms have been agreed so that's a good sign but we have no clue as to what they are or what remiains outstanding.

We can interpret that Castle are serious though.

However, they can't be that serious because information has a way of leaking and if they were really really serious there would be a small stream of constant buyers in the market privy to inside information. Or maybe the insiders have no clue as to what price Castle are prepared to pay or indeed what Somers are prepared to accept, so maybe I'm shooting down my own argument.

Then there's the final outcome of a likely shareholding in Castle rather than cash. Sure, there should be plenty of time to trade out to cash if you don't want to be invested in Castle but that's not a certainty.


I cannot help but feel that PCF is not in a good place with the impending cost of living crisis. It looks like Liz Truss is going to put off the inevitable a while longer by borrowing another £40m, which will make this takeover far more feasable.


Finally I'm struggling with why Castle would want all of PCF. Make an offer to PCF for the good bits, don't get saddled with the rubbish.


PCF is an intriguing story. I hope there's some good news for shareholders at the end of this. I just cannot bring myself to press the buy button, mostly because I just cannot get a grip on what is really going on. Also, it's now fairly easy to make 5-7% a year with the central banks putting up interest rates so there's a time/cost of money thing going on.

I've got to think if Castle make a bid, Somers are going to want at least 5p, so that might be quite a decent return off today's share price. However, if no bid I suspect the share price is going to flouder around the current level for some considerable time.

[graham1ty] 26/7/2022 09:43

Well, within minutes of posting above, a new extension. With these, possibly hopeful words

“As the discussions are continuing to progress and agreement has been reached in principle on most of the key commercial terms of the Possible Offer, 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, a further extension “

I hope that is positive. Not that the market seems to have noticed, or care. Either this is a zero, and PCF will get a tiny % of the enlarged vehicle. Or this is positive and some real value can be obtained. No volume, so no one prepared to take any position over this……

[graham1ty] 26/7/2022 09:12

5pm tonight is latest deadline for Castle Trust to “put up or shut up”. Can be extended again, but for the moment……silence

[graham1ty] 25/7/2022 22:37

Stichting have been share holders for many many years. They have lost a lot of money as well. Not sure what you mean. Think you do not know the share register…..

[goddamitmaverick] 25/7/2022 20:00

Morses Club another dead parrot doorstep lender .
PCF question is why are they left hanging? Why are majority shareholders not putting in required capital ? Stichting is bottom picking I think and losing money fast. Maybe hoping for a bid . Not a white knight themselves .