Pcf Share Discussion Threads

[dandigirl] 25/10/2022 09:32

Me, too.

All led by the Drama Queen.

It seems that she had not the least understanding of risk.

Why hasn't Sergeant resigned from this circus now she has had a look up close?

[hopespr1ngseternal] 24/10/2022 21:39

Agree with Graham! Farcical.

[graham1ty] 24/10/2022 20:00

So, in the name of remediation, you recruit staff left right and centre, build a bloated cost base.

Then have to unwind it all

Farcical

[maverick39] 24/10/2022 18:51

Not sure there is a plan B. Rumours are that 60-70 staff have been told their jobs are at risk. Looks like a slow and painful wind down

[manual dexterity] 24/10/2022 12:17

Only 100k available online. Very illiquid indeed.

[graham1ty] 24/10/2022 08:22

Complete radio silence.

Was there no Plan B ?

[dandigirl] 18/10/2022 14:02

Come on SOMERS, make your minds up for goodness' sake. How much longer do you need?

[manual dexterity] 18/10/2022 09:19

If they can achieve asset sale, it may provide time for PCF. 80% of the equity is held quite tightly and if there are asset sales I suspect the share price could well double.

[hopespr1ngseternal] 17/10/2022 15:54

Agree with Graham and Dandy. Garry and Caroline have much to answer for.

[goddamitmaverick] 17/10/2022 10:53

Signing off from this thread as I can’t see anything more positive or of value here and don’t enjoy picking over the bones. Never easy to turn round a financial in these situations .

[cc2014] 17/10/2022 10:41

According to HL the market cap is now £4.59m. I don't know whether that is based on mid or offer but whatever.

It must be getting close to the smallest listed company on AIM.

If it loses another 90% I shall think about putting together a consortia to buy it.
Well probably not but it has crossed my mind. We shall see. Fortune favours the brave so they say.

There must be some part of PCF amongst all the issues that is worth some money.

[dandigirl] 17/10/2022 09:08

Totally agree, Graham.

Moreover, wonder how much Moore and Sergeant are pocketing? Around £100k a year each?

Just why was she appointed to the company anyway?

[graham1ty] 17/10/2022 07:59

Castle Trust withdrew 18 days ago. And all we have is a holding statement.

The new, bloated PCF haemorrhages cash and, to an outsider, it does look if the Board had put all their eggs in the Castle Trust basket.

There has been no credible plan for recovery and all in the name of “remedial action”, Garry and Caroline have taken this company to the brink of collapse. To “turn around” PCF they have in fact destroyed it.

The holding RNS referred to cutting cost: the very costs that they have thrust upon PCF. Surely not what the PRA intended when the issues first came to light. About £90m ( from the peak) of shareholder value has been destroyed. Yes, two actions by previous management that were naughty ( I say naughty only, as we are told it was not criminal and David Bull is still a non Exec at a quoted company), and the remedial action has been OTT and completely destructive.

Or, Garry, tell me otherwise ?

[dandigirl] 10/10/2022 18:36

Up to you Maverick but the FSCS scheme should pay out within 7 days of failure - and PCF will be paying a handsome premium for their cover.

At all times, banks have to be able to provide the FSCS with a Single Customer View within 24 hours of being asked.

I imagine that PCF is able to comply with this in half the time! Richardson and Stran will be hot on this if nothing else.

All assuming PCF is paying an acceptable rate, that is.

By the way, agree that management should have had a back-up plan in place. More time is needed to do what exactly?

[goddamitmaverick] 10/10/2022 13:48

Dandigirl I wouldn’t put cash into a failing bank even if gteed deposit scheme covered. Plenty of other better options . Doubt they will be paying up if no new lending.

[goddamitmaverick] 10/10/2022 13:24

CT wasted a lot of time but management should always have a back up plan.
Can only value on wind down now but that will depend on how quickly and efficiently it is executed , so don’t hold your breath guys. Always a chance of a last minute buyer but I suspect they would rather bid on loan portfolios only. The task then is to collapse the cost base asap.

[che7win] 05/10/2022 12:22

It was a decent stock, the new management came in and did their best to ruin it imho. Lack of communication, lack of action and not aligned to shareholders imho.I don't think they could have done a worse job, but what do I know

[cc2014] 05/10/2022 09:14

No lending volumes not reduced lending volumes

That looks pretty much like a long slow structued wind down to me.

[graham1ty] 05/10/2022 07:24

And using the phrase “maximise shareholder value” really winds me up. The irony is beyond belief. The share price has fallen 95%. To “maximise shareholder value” you need to get it back to 25p pre suspension, or 45p, the all time high.

[dandigirl] 05/10/2022 07:22

Oh! My goodness. What are these people about? They are murdering PCF! New business is the way out of this mess of their making. Now, they want to stop this to reduce costs also of their making.

Please show Richardson the door, today.

They appear to be more interested in protecting themselves than getting on with governing.

What is it they still don’t know about this business after all these past many months?

There are better people than this to run modest business. Bring back Scott Maybury.

[graham1ty] 05/10/2022 07:21

End of lending…..beginning of wind down

Seek new capital……;how the hell in this market ?

Try to reduce cost base……er, the mind boggling cost base that you have put in place in the name of remediation ( aka business self destruction)

Board, Gary, as I have said many times, the so called “remediation” has been 100 times more destructive than the original issues. You have destroyed a perfectly good business. You boast of your experience, but added now to the list is wiping out shareholder value.

Nothing more to say…..😡;😡😡

[graham1ty] 03/10/2022 07:27

So, nothing from the Board, bar contempt for shareholders. The bid was withdrawn four days ago.