Pcf Share Discussion Threads

[lees65] 03/10/2019 14:46

Possible the scrip dividend scheme? Does that show up in this way?

[cc2014] 03/10/2019 11:37

I agree Graham. I think that was what I was trying to say. Just a bit of dividend money he found lying around. Nothing more than that. I hope history will show he got them for a decent price.

On another note, yesterday was the worst day on the FTSE since 2016 and the day before was not much better but PCF hasn't fallen, perhaps suggesting all the sellers that are selling due to fear or because they want to switch into something else have now done so.

It's usually a good sign when stocks don't fall on bad days.

[graham1ty] 03/10/2019 11:27

Cc, I am sure it is not ominous, and I am sure if it is not inside dealing !! Hardly subtle, and hardly going to make him money !!

Suspect it is reinvesting dividends or something innocuous like that. Mind you, they could have clarified it better

[cc2014] 03/10/2019 09:45

Odd indeed especially as they call it a directors purchase but the director concerned is the finance director. I assume he found a bit of money lying around in his trading account as a result of some dividends here and there and placed the trade.

Of course I could be suspicious. PCF year end is 30/09. It couldn't be that he's had a first glimpse of the numbers and it motivated him to go and look at how much he'd got in his account to invest? No, that couldn't happen, could it? or it couldn't be that Scott is presenting PCF to Sharesoc in 12 days and he thought he better buy them before Scott gave an update to the market like they did last year in October. (22nd Oct last year btw so I'm guessing well 15th Oct this year as that's the Sharesoc day or maybe a few days before).

This doesn't happen on AIM does it? Directors buying just before information is released to the market I mean. I guess it's not a closed period though so no rules broken.

Anyways, regardless of my rant, I've seen lots of directors make purchases at bad times but it is very rare for the FD to do so. I'm not sure what such a small purchase means but I guess he wouldn't be buying if he thought the shares are likely to go down.

[graham1ty] 03/10/2019 07:15

How very odd ? A tiny Directors purchase with no context given at all. Less than £2000.

And no trading statement yet. Complete silence for four months. Assuming it is imminent, why the Director dealing ?

Come on Scott, give us an update

[lees65] 01/10/2019 09:31

I see it is now showing as October. Lets hope it does not slip again. I presume this is to line up with 15 October. Missing self imposed deadlines is not very impressive.

[lees65] 30/9/2019 16:36

Any update on the September trading update - September is fast running out....

I had presumed it was today, but before the conference on 15 October must be essential?

[lees65] 30/9/2019 10:47

September update.... I hope some good progress on the way to the £750m in lending? More deposits etc. Having followed this for a while I think this should be good news....

[geraldus] 30/9/2019 08:44

September update as per wensite?

[cc2014] 26/9/2019 11:47

PCF are presenting at Sharesoc in Manchester on 15th October.

Over the years I have seen over 100 presentations by companies at these types of events and PCF was the only company that I have made an initial investment based on I what heard.


I assume that we will see a trading update before then so they can speak freely and I also assume PCF will have something positive to say based on the timing of the event with the trading update.

[cc2014] 24/9/2019 10:16

I will agree Graham that PCF never described their loan book as sub-prime but I'm not sure what you describe a loan book where most of the customers were not prime or not even close to it. The interest rates they were charging for loans with secuity gave a pretty clear picture of the type of customers they had.

Anyways not any more which is partly why I was attracted to the shares along with their agressive growth plan. Even before the creation of the bank allowing them to cut borrowing costs (which they passed on thus improving the credit quality of their customers) they were already moving away from customers with poor credit scores. I suspect there are still probably more low credit score customers on the book than PCF let on but each month another set of loans is paid off and are not replaced with the same. It won't be long before that has all worked it's way through.

[cc2014] 24/9/2019 09:42

Most large companies (FTSE10 and FTSE250) do a 4 updates a year (year end, half year and two inbetween). Sometimes they do an extra one with an update at the AGM although many use this as the first quarterly update.

Which is where PCF are moving towards. I do agree it would be helpful if they publised a set of dates a year in advance and this is something I will take up with the Scott/The Board when I next have the opportunity to talk to them.

Stocks go up and stocks go down. At the moment the banks and (large) financial services companies are all moving up. Regrettably I suspect PCF is languishing due to it's previous significant sub-prime customer base and unwarranted read across to NSF,AMGO,PFG etc. OSB and PAG have been bashed too but are now well off the bottom.
We all know the company has significantly adressed the customer base over the last 5 years and has been clear in all it's presentations that NIM has fallen as this has happenned.

I'm guessing the share price will start to creep up as the results evidence low impairment scores compared with 5-10 years ago and the market begins to understand the Board have spent the last 5 years de-risking the business.

Happy to hold although a little frustrated here.

I see from L2 Igoe took all the volume available at 28 and no more has come on the market over the last few days so I guess whoever was selling has finished.

[graham1ty] 24/9/2019 09:19

With no statement in September, and the year end in a week’s time, it seems likely now that PCF will wait until after 30 Sept to say anything.

Very disappointing. The market is spooked, the shares are down c40% from the high, and yet no comment on trading of any sort since early June. If they wait until after the year end, it will be four months with no comment. I think that is too long for any public company

[graham1ty] 23/9/2019 14:18

Well done igoe. They have promised a trading statement in September, so should be any day now

[igoe104] 23/9/2019 13:43

just purchased over 21k worth, wasn't easy to buy them either. these look tremendous value, it looks like a good long term holding.

[graham1ty] 18/9/2019 08:23

As soon as I wrote that, they are marked down, 28p on the offer.

The two trades yesterday were sales. Presumably the seller is still about ? The volumes are tiny, and it looks as if about £5000 of sales can knock a penny off

[graham1ty] 18/9/2019 08:19

Still disappointed that no trading statement. I like a company that “keeps in touch”. In difficult Markets people assume the worst, and there is a drip, drip of selling. With no announcement, the Company has no excuse to go and reassure institutions, and nothing to talk about at private investor events. A “boring” announcement, just saying everything is ok can underpin the share price ( and the reputation of the Company).

This year there have been just three announcements in Feb, March and June( ignoring holding announcements) which is not enough. The Placees at 30p are all losing money. Shareholders, who were cross the Placing was at such a discount, are losing even more money ( it was c35p prior to the Placing).

Come on PCF, do some hand holding

[johnthespacer] 05/9/2019 15:27

Their website says trading update in September 2019 no specific date given

[graham1ty] 03/9/2019 15:21

It is three months since the last trading update ( since when the share price has fallen c25%). I know the market has not been kind, but I hope PCF will give an update soon and steady the ship.

[wednesday6] 03/9/2019 14:03

Bloody hell it's TRUE, a bit of blue 🍺🍺

[geraldus] 03/9/2019 13:37

Some blue at last.

[solarno lopez] 08/8/2019 12:03

and that's despite car production and sales falling rapidly

[mjcrockett] 08/8/2019 11:39

This comment from the S&U (SUS) Trading Update this morning is encouraging for PCF:

"In contrast with the current low levels of consumer confidence in the UK, demand for Advantage’s motor finance is healthy and transactions are ahead of last year. Indeed, despite a recent downturn in the new car market, the used car market remains robust and is likely to continue to do so, even assuming a “no-deal”; Brexit."