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PCF Pcf Group Plc

0.00 (0.00%)
12 Apr 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 Shares Traded Last Trade
  0.00 0.00% 0.95 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
0.60 1.30
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 0.95 GBX

Pcf (PCF) Latest News

Real-Time news about Pcf Group Plc (London Stock Exchange): 0 recent articles

Pcf (PCF) Discussions and Chat

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Pcf (PCF) Top Chat Posts

Top Posts
Posted at 10/1/2024 11:34 by maverick39
Announcement on PCF website re general meeting on 6 Feb. “Serious loss of capital” - more disappointing news but what do we expect ????
Posted at 17/12/2023 08:38 by graham1ty
I would love someone (ShareSoc, an MBA student, someone) to write the story of “PCF and what went wrong”.

It would tell:
1) shareholders what actually happened ( despite the occasional announcement we are really none the wiser as to how £100m of shareholder value just disappeared)
2) act as a cautionary tale for other investors, and show how £100m can dissipate from am apparently strong position
3) alert regulators/fraud squad/police so they can assess whether anyone has a case to answer
4) alert investors to the role of certain individuals and allow reference to how they behaved

If someone, with deep knowledge of the demise, but also critical independent eyes, avoiding the pitfalls of libel and slander, could just tell us “what happened here ?” then shareholders would be well served.

But it won’t happen. Board, advisers, institutions are keeping their heads down, hoping no one noticed, pretending it did not happen.

And shareholders have been shat upon
Posted at 16/12/2023 10:52 by dandigirl
Because PCF cannot be liquidated until after the licence is cancelled.

After cancellation, the final wind-up can be concluded and if there is anything left it can be distributed to shareholders, mainly Somers but a few others too.

Bad news because the longer it takes the longer the quite awful remaining board members will continue to remunerate themselves disproportionately.

Richardson should be ashamed of herself for initiating the demise of PCF.

See below from the last update.

"""Work is continuing to complete the legal and regulatory processes required to surrender the banking licence of PCF Bank and then liquidate PCF and its subsidiaries. The ability of PCF and PCF Bank to reduce their cost base and the speed at which the overall wind down can be completed will have a direct impact on the ability of PCF to make any distribution to shareholders. The Board’s current assessment of the outcome for such a distribution is that, as previously announced, it is unlikely that there will be a meaningful distribution, if any, to shareholders. The Group will issue further guidance on this in due course""".
Posted at 03/11/2023 14:56 by dandigirl
Just in case anyone pops in here from time to time, PCF have let go 3 directors at long last.

It should have happened months ago but it means that the others can milk it a bit longer.
Posted at 18/8/2023 16:45 by cjd190573
Hi all,

Hope all is well.

Just to report in, that I opened a savings account with PCF last year and I had this email this afternoon:-

Seems they are returning funds, rather than allowing to naturally mature:-

Also looks like they are trying to get wrapped up by the end of next month.

PCF Bank Withdrawal from UK Banking market and Closure of your account(s)
In November 2022, PCF Bank announced the start of its process of withdrawing from the UK retail banking market for strategic reasons and that it was no longer offering any new lending or savings products. As part of this process, we are now writing to you as a PCF account holder, in order to inform you of our next steps in respect of our existing accounts.
A proposal to take advantage of improved market savings rates
Since you opened your account there have been several increases in the Bank of England base rate and this has resulted in a general increase in interest rates available in the market for savings accounts.
As we are moving toward the closure of all customer accounts, we want to offer you the opportunity to take advantage of these increased rates as soon as we can and therefore, we propose to close your account(s) and return your funds to you. We will write to you shortly with the date by which we intend to do this.
Important information about what we are proposing to do:
Your account(s) will be closed without any financial penalty
You will receive your funds plus interest up to the date your account(s) are closed
Your funds and interest will be paid to the bank account linked to your savings account(s) (your ‘nominated account’)
It is very important that if you would like to change the nominated account that your funds plus interest will be paid to that you let us know as soon as possible - this can be done by logging into your PCF account via our website online banking and sending a secure message or by:

- emailing us at
- over the phone by phoning us on 020 7227 7577 between 9:00am and 5:00pm Monday to Friday,
- or in writing to PCF Bank Limited, Dashwood House, 69 Old Broad Street, London, EC2M 1QS.
If you are happy for us to close your account in this way, then you do not need to take any further action and we will write to you again by 30th September 2023 with details of when your account(s) will be closed and funds, plus interest, returned to your nominated account.
If you do not want us to close your account in this way, please contact us within 28 days, from the date of this email - this can be done by logging into your PCF account via our website online banking and sending a secure message, by emailing us or contacting us by phone or in writing (using the contact details above in Important Information) to enable us to understand your situation and discuss whether there are alternatives we can offer you to closure.
Further Information
You can find our Frequently Asked Questions here that may answer any immediate queries you may have.
Thank you for saving with PCF Bank.

Yours sincerely

Daryl Hopkins
Posted at 10/7/2023 09:33 by cc2014
I canont say I fully understand the standby facility.

The purpose of such facilities is usually to provide short term cash flow requirements, but from what I've seen before this was usually done in the form of loans rather than new equity. Something new to me.

So, issuing new equity would not be a short term facility at all, at least in my mind.

I can only construe that Somers either
a) perceive the value of the wind-up to be in excess of 5p a share and it's a way for them to get a bigger slice of the pie (seeks unlikely it's a bit obvious) or
b) the value of the wind-up is around 5p and they just want to ensure a smooth transaction
c) PCF does not have enough ready cash (seems very unlikely) and Somers are sort of obligated by the FCA as part of the wind-down transaction.

As usual with PCF everything is a puzzle. If I consider the second RNS it begins to look a bit more like they've sold the loan book but the purchaser isn't paying for it all up front in cash but on some form of delayed trache mechanism, the value of which is dependent on the outcome and therefore the standby facility is what is says it is and will be called it the outcome of the sale transaction is poor. Or it could be something completely different.

Anyways, the sale of the loan book brings PCF to a quicker conclusion than I expected and hopefully a positive resolution for all shareholders.
Posted at 07/7/2023 14:59 by catabrit
So I have called PCF Bank, Asset Match and Tavistock. Asset Match were the most helpful but they don’t have any further information to provide. Tavistock called me back and said they’d forward my query on to the two individuals dealing with PCF Bank.

I’m shocked by the scant information provided to shareholders.

If others can continue to bombard Tavistock and PCF Bank that would be helpful.
Posted at 26/7/2022 10:14 by cc2014
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.
Posted at 28/6/2022 15:47 by tomboyb
28/06/2022 3:38pm
UK Regulatory (RNS & others)

Intraday Stock Chart

Tuesday 28 June 2022

Click Here for more Pcf Charts.

RNS Number : 5194Q


28 June 2022




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
Posted at 06/6/2022 17:36 by dandigirl
hopes: I must stop this for here I am agreeing with you again.

Consequently CC, I, too, beg to differ. NAV PS is one of the first numbers I look for.

To use your example LLOY; it has had a figure mostly between 50 and 60p these past several years. Failure to grow this figure was one of Horta-Osario's many failures. Indeed, I seem to remember it fell for three years at a time when he was supposed to be growing the business. At the same time LLOY share price has not risen above the NAVPS figure for years.

I have just checked and the year end figure is 57.5p. Current share price 46p.

No account is being taken of the future profitability [or otherwise] of LLOY even now.

I think your measures while having merit are old fashioned. Their days are long gone as are the days when banks could lend multiples of capital using wholesale funding. Similarly, it seems the days of 50% cost/income ratios again are a few years away as the costs of regulation are now very significant. Aim is for 2026 for LLOY.

STAN has a NAV PS above £12. share price £6.50 ish. Cost/income 76% but aiming for 60% next year.

It might help if you could give an idea of what you consider a fair current price and how you arrive at it please? Where I am coming from is to ask whether or not 5p is a reasonable number? Are Somers paying sufficient?

Just to add, my reading of the RNS is that the £2.7m has been injected as of today.

Lastly, PCF has to provide projections for the business as part of the OO. I happen to think PCF's markets are robust. We can take a view of the future when asked but currently PCF's peers are doing okay.
Pcf share price data is direct from the London Stock Exchange

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