Pcf Share Discussion Threads

[dandigirl] 19/8/2021 21:10

hopespr1ngseternal: Nowhere have I written that I am of the view that what is going on as a dagger to the heart. On the contrary, I have indicated that this is a good business. I am making the simple point that every day spent on this is costing - no matter how it is accounted for. Surely, we can all agree on that?

CC2014; Thank you. A good sign, I think, that funds are needed to do business.

[cc2014] 19/8/2021 16:52

PCF treasury function have finally woken up and realised their previous savings rates weren't competitive.

They are in the market now at:
1 year 1.0%
18 month 1.0%
2 year 1.43%
3 year 1.52%

[hopespr1ngseternal] 19/8/2021 14:18

Dandi: of course it’s serious and margins will be impaired by new hires and improved systems. But it is unwarranted at this point to view what is going on as a dagger to the heart of the company. Communication from the company is poor but unless you tell me that while shares are suspended the company has no obligation to report significant developments to shareholders I shall assume that there are no such developments and that the June RNS holds good. After all the new FD EY and PWC have been looking at this for months now. Still we can but wait and see. GLTA

[dandigirl] 18/8/2021 23:19

hopespr1ngseternal: Your 3266. Are you serious? I can’t believe what I’m reading! So that’s all right then. Give me strength.

[hopespr1ngseternal] 18/8/2021 16:38

Agreed. The June 28th Update was pretty clear and comprehensive. Pending a further update I think we must assume that it holds good.

[hopespr1ngseternal] 18/8/2021 16:30

Dandi, much of the expense will not be reflected in adjusted earnings which is the
the figure the market looks at. While money is cheap and PCF maintains access to inexpensive funding the cost of remediation is unlikely to be a material drag on future earnings.

[seasidehippo] 18/8/2021 08:38

He's already answered that question, please reread RNSs

[seasidehippo] 18/8/2021 08:38

He's already answered that question, please reread RNSs

[dandigirl] 18/8/2021 07:16

Every day that goes by means the costs are going higher, the greater the hit to the P&L, reputational risks continue and meanwhile we have no idea how the business is doing. No, no news is not good news and is clutching at straws.

Mr Franklin, please give us a clue as to what it is you are up to and how shareholders money is being spent.

[seasidehippo] 17/8/2021 09:02

Excellent post hopespr1ngseternal, i totally agree.

[dandigirl] 16/8/2021 23:13

Strewth, still not caught up hippo; You answered your own question.
He is useless because he is failing to tell the 35% anything. Given that the share price is suspended, anything he informs cannot be price sensitive, can it? He is going to have to tell us all sometime. When might that be? Meanwhile some on here are trying to guess from his awful RNSs - that should not be necessary. Besides, he has been in the Chair since this began to unfold - whatever "this" is - and didn't have a clue, it seems.

[topvest] 16/8/2021 14:48

Its August - auditors are on holiday. You won't hear anything until Sep!

[hopespr1ngseternal] 16/8/2021 14:16

In a sense no news is good news. Despite the suspension company has an obligation to keep shareholders informed of significant events. The absence of news implies that nothing material has emerged since June update. Or am I clutching at straws?

[graham1ty] 16/8/2021 07:21

Another week goes by.......

[topvest] 15/8/2021 12:36

I fortunately sold out of PCF ahead of this debacle. Sold S&U at about the same time unfortunately. I am still indirectly exposed through my holding in UIL. Obviously, its a mess..but Somers are pretty sound and so I think it will resurface in due course. All is not lost.

[seasidehippo] 15/8/2021 11:54

If you don't know what Franklin is up to, how can you say he is "useless"?

[hopespr1ngseternal] 14/8/2021 03:16

The 28th June RNS states:
'While the PCF Group continues its work in relation to the remediation plan on the financial controls environment...the shares will remain suspended. When the PCF Group and its NOMAD are satisfied with the outcome of this work they will seek for the share trading suspension to be lifted'.

Surely this is what is causing the delay. Not the audits which all agree must be complete by now.

[dandigirl] 13/8/2021 12:32

We all agree that the second hand car market is just great at present. Besides SUS, even PFG is doing well and referred to a buoyant market with receivables at a high.

Meanwhile what is the useless Franklin and his Board up to? Who knows? Five directorships are clearly too much for him.

Somers in the full picture, the rest in the dark.

Given that the shares are suspended and we shall have to be informed eventually, I am astonished at the inability to find some form of words to enlighten us.

[cc2014] 13/8/2021 12:07

I cannot imagine what it is costing. Pick a very large number.



In other news PCF are now offering savers 1.3% for a 2 year bond. Not exactly at the top of the tables which show 1.4% on offer elsewhere but commercially sound.

Their 1 year and 18 month rates are 0.75% and 0.76% remain way way down the tables which is good for their NIM. They clearly don't want money on that timeframe.

[seasidehippo] 13/8/2021 11:51

Maybe they should have considered Quincy rather than pwc to perform the forensic work?

[geraldus] 10/8/2021 10:36

Second hand car market booming and new electric vehicles could be a whole new world. I keep praying.

[graham1ty] 10/8/2021 07:41

Superb results from S&U. All that we should be having from PCF.......

[the millipede] 08/8/2021 13:55

Thanks for posting, CC2014.

[seasidehippo] 07/8/2021 12:02

How could anyone finalise/publish accounts while forensic work is ongoing?

[cc2014] 07/8/2021 11:56

Maybe Tim Franklin is too busy with his other 4 jobs to spend enough time on PCF?