Pcf Share Discussion Threads

[123davidgwilym] 21/2/2023 21:00

I noticed the Chairman calls himself the Chair. Says it all, really. Chairs are for sitting on.

[catabrit] 21/2/2023 15:28

They are cutting costs in a big way. At least that’s the impression I got reading the report. Is anyone else going to the annual meeting?

[dandigirl] 21/2/2023 14:39

Thank you, Catabrit. Hadn't spotted the accounts. Will take a look.

On staffing, Stran said at the last meeting that something in the region of 60-70, forget the actual figure, had been given the word.

As regards costs and run-off, Board alone costs in the region of £100,000 per month according to my rough calculation. That's £500,000 since last September. Chairman Moore should have reduced the board numbers already.

[catabrit] 21/2/2023 10:23

Yeah, about 11.5p. Nice margin of safety. I had assumed the NAV per share was higher but I had the wrong number of shares (251m vs 333m). Somers and Stitching will be motivated to liquidate this quickly to ensure maximum recovery per share. If you check LinkedIn, people are leaving left, right and centre which is clearly a positive.

[cc2014] 21/2/2023 09:50

Loss about £14m which is less than I expected. About £38m of assets left which is about 11p a share.

Stitching have 11% which I can't remember but seems alot.

Some of the £38m will of course disappear in the natural run of things in such circumstances but a wind-up value of 5p doesn't look unrealistic.

[catabrit] 21/2/2023 08:48

Looks like the 2022 accounts are now available on the website. Is anyone else going to attend the annual meeting on the 31st March?

[dandigirl] 02/2/2023 20:06

Of course it is interesting, Catabrit. Take no notice. Only someone who doesn't have an appreciation of the recent history of PCF would make such a comment.

Having averaged down, 5p would do me.

However, without more info it is simply not possible to put a value on the shares. Hopefully 9/22 accounts will be forthcoming soon.

[catabrit] 02/2/2023 16:56

I get the point you’re making but I disagree. It’s interesting that the sellers are quoting 5p. It’s interesting that there are no buy offers. And it’s also interesting that there’s been no transactions…yet. I won’t be marking these up or down until there’s a transaction and frankly, I’m more focused on holding out for the liquidation proceeds as my cost base is so low.

[sam55todd] 31/1/2023 15:51

That's hardly interesting actually, interesting would be to see buyer's opinion about it (and there aren't any, that alone speaks volumes).
If someone wants to sell at 5p or even 500p (who can blame them for a desire to get rich out of a thin air) - it doesn't mean what paper valuation is that high.

[catabrit] 20/1/2023 23:02

hxxps://assetmatch.com/app/OurCompanies/CompanyProfile?companyId=2544

[catabrit] 20/1/2023 22:58

Interesting. So these are being quoted at 5p on asset match or £16m market cap or 10x the delist price…if someone buys.

[catabrit] 18/1/2023 20:23

If you check LinkedIn, everybody is leaving basically so they’re in full wind down mode.

[dandigirl] 15/1/2023 13:47

great news. no disrespect but someone of her stature is not needed for a wind down and she probably was not cheap. Good for her to step away, quietly. Nice to see someone doing the right thing.

Chairman Moore should reduce the board. Estimate the cost to be around £100,000 per month which is far too much. Surely Brown and Sismey-Durrant are not needed now, if they ever were. Come on guys, follow Sergeant's lead and do the right thing.

[maverick39] 15/1/2023 11:56

There are no RNS announcements now, but Companies House shows that Carol Sergeant ceased to be a non executive director on 21 December. She only lasted 3 months!!!

[dandigirl] 07/1/2023 11:40

Well, aren't you a clever Boy. :)

[ny boy] 07/1/2023 04:39

As predicted last year, another one bits the dust

[dandigirl] 03/1/2023 15:07

graham: just link on the site and register.

The site appears okay to me. All very clear.

The PCF entry includes the following:

Auction Details

PCF Group plc was admitted to trading on Asset Match on 20 December 2022 at a price of 0.71 pence per share (being the last traded price on AIM).

Auctions are to be held quarterley and close on the last Tuesday of each month (unless stated otherwise).

The tick size for this company is 0.01 pence per share.

Participants can send orders via their existing broker or directly to shareDeal active.

[graham1ty] 03/1/2023 08:27

Two weeks ago I emailed Asset Match for more information about the dealing facility. I have heard nothing.

I had never heard of AssetMatch and was disappointed that PCF were not going to use a service of slightly better reputation. I fear this is just a pretence at a dealing facility and there will be zero liquidity, few participants ( if any) and no meaningful auctions

[catabrit] 21/12/2022 18:04

Hi Dandi. It's online via investor meet. You can also see some of the recordings on youtube.

Graham - well yeah, it's delisted so of course liquidity is going to suck. Doesn't mean you won't be well compensated in the future but does mean you're in it for the long haul now. One to forget about and just hope for the best. Admittedly, that's easy for me to say considering my basis but even older shareholders had the option to massively average down in recent weeks.

[dandigirl] 20/12/2022 21:54

hello graham: did you attend the recent meeting please? how was it? I can't find a recording.

[graham1ty] 20/12/2022 10:57

Good to see an impenetrable trading system, under “its own code of conduct” will periodically ( but not told when) offer algorithm driven (incomprehensible) dealing opportunities.

Oh, but you have to register with them, and presumably agree to endless spam marketing emails.

Zero liquidity. It does beg the question: if PCF has results, or heaven forbid, sells part of its book, or heaven forfend has any news at all, good or bad, presumably there will be no market for weeks or possibly months ?

Well, that is all fine then.

[maverick39] 19/12/2022 15:33

Hope you’ve got some patience, Catabrit. It’s likely to be some time before we can sell out/get our cash back

[catabrit] 19/12/2022 14:59

Super hard to get any of my orders filled on this. Had 1m out earlier and nothing. So been buying in 50-150k chunks. Just wanted to say best of luck to everyone that holds this and that I hope you get some of your money back. Let's keep the thread going for when it delists so that we can share information / updates and hopefully, celebrations!

[zen12] 19/12/2022 14:39

Buy or sell easy so no issues..