Pcf Share Discussion Threads

[che7win] 22/10/2014 15:16

I also hold only the convertibles presently, no intention to convert in the short term either.

[hpcg] 22/10/2014 13:44

I only have CULS now. Until recently they could be bought as an option on conversion, and earlier in the year cheaper than that, but they are more expensive now. Illiquid as well. The share price factors in the conversion when it is above the convertible price, and don't forget conversion is really like an equity raise that happened in the past. If you just work with fully diluted numbers, which is sensible for any company, then your analysis is unchanged.

[tiswas] 22/10/2014 13:32

Thanks bdroop. So who holds the CULS and is there any value here? Been on my watchlist but not so sure now.

edit

Found it. Somers who are already 29.33% shareholders own 8.5m of the CULS so stand to own another 100m shares. What price a takeover?

edit

Somers have a diluted economic interest of 68%.

[tiswas] 22/10/2014 12:04

From that RNS 3/10 the 2016 CULS convert at a rate of 12:1 so with 9,967,501 in issue there is potential for further dilution of nearly 120 m shares.


Am I reading that right?

[bobthetrader] 19/9/2014 14:41

Yes, positive again!

We could achieve an increase in price over the next 6 months, as we close in on the banking licence target for March/April.

If that is accepted then the price could increase dramatically.

[graham1ty] 19/9/2014 11:31

Great AGM. Board as positive as ever. Both brokers upped their target price, 17p and 20p. Banking licence could transform this

[euclid5] 19/9/2014 11:22

Private & Commercial Finance Group plc
("PCFG", the "Company" or the "Group")

AGM Trading Update

PCFG, the AIM-listed finance house, will hold its Annual General Meeting at 10.30am today at the offices of Tavistock Communications, 131 Finsbury Pavement, London EC2A 1NT.

At the AGM, Chief Executive Scott Maybury will make the following statement to shareholders:

"The Board is pleased to report that, following a strong set of results in the financial year ended 31 March 2014, portfolio growth, portfolio quality and the Group's profitability have all continued to improve. Ahead of the Company's half year to 30 September 2014, the Board is pleased to report that trading is in line with market expectations.

Of particular note are the following highlights:

•
New business originations for the five months to August 2014 are £23.5m (5 months to August 2013: £22.5m), consistent with our internal targets
•
New business growth is most robust in our consumer finance division, reflecting the current strength of the UK car market
•
The loan loss provisioning charge has continued to reduce and currently stands at 2.0% (31 March 2014: 2.4%).
•
The total portfolio has grown 5% to £93.2m (31 March 2014: £88.7m), and is performing in line with management's expectations in terms of achieving our 2% Return on Assets target by the end of the current financial year.
•
Progress continues on our banking licence application and we intend to present our business plan to the relevant authorities in the near future.
•
The Group has negotiated increased bank facilities in the period and currently has £13m of committed facility headroom, which is sufficient for our current year growth plans


Our performance in the financial year to date and the growth in our portfolio of receivables means we can view the remainder of the current financial year with confidence. I look forward to reporting our Interim Results on 26 November 2014."

hxxp://uk.advfn.com/news/UKREG/2014/article/63712054

[graham1ty] 15/9/2014 11:20

Yup, the Panmures note. It is the AGM on Friday at 10.30am so hope for a good update then.

[mjcrockett] 15/9/2014 10:59

Graham1TY, Which broker's note are your referring to? Has Panmure produced an update to their June 2014 note?

[bdroop] 12/9/2014 08:15

Yes. Feels rewarding thus far. I stumbled across this when I felt UK car sales were on the rise, but didn't fancy the margins that showrooms have to operate with on new cars. I'm a little stuck on whether to top up more at this moment due to dilution, spread and current valuation being closer to NaV. But there's more growth in this I feel but am a bit stuck on the "road map" ahead and how it might affect short term pricing if I was to take a larger position. Mind you maybe we're all a little perplexed by that...

[graham1ty] 10/9/2014 15:04

Quiet Board. Trebled now in 18 months. The fear was that the 8.5p conversion price would for ever be a cap....and from cJuly to May this year that was the case. No longer so.....the latest broker's note said "potential ten bagger"

[che7win] 27/8/2014 21:26

I was impressed with this years annual report also, I have a small
convertible loan position now well in profit.

[hpcg] 27/8/2014 21:22

Given the conversion rules I have wondered if that might get
enforced sooner rather than later and the price was being driven
higher for tactical reasons. I sold my common, not for this reason
as such, mainly taking a very decent profit and hoping for a dip to
repurchase. If that never happens then so be it as I still have my
convertibles.

[topvest] 27/8/2014 20:46

Yes, looking positive.

[bdroop] 27/8/2014 18:17

Yes. V gratifying. Needs to be checked against Nav and potential
dilution in this range. But a happy holder here. Fingers crossed
for further progress on all fronts..

[fillipe] 27/8/2014 18:01

Quite some uptick been going on since end-June this year. It does
appear that we are at something of a tipping point with even modest
buying producing rises in the PCF share price Very gratifying for all the
long term holders and plenty here still to go for.

Only 53m shares here and a £7m pittance of a mkt cap against
forward sales of £50 - £56m.


Grab whilst you can and all that stuff.

f

[topvest] 25/7/2014 21:08

Yes, agreed - all looks very promising with Utilico behind them.

[hybrasil] 25/7/2014 08:28

I have been a shareholder for over 10 years. I was very impressed with this years annual report and in particular the fact that they are on track to get a banking licence.
They also speak of a dividend post 2015.

[hpcg] 07/7/2014 21:59

Yes, pleasant for holders of either the common or convertibles, or indeed both ;-)

[playful] 07/7/2014 21:52

# Happy Investor...

[smudgeroo] 07/7/2014 13:11

ProactiveST,

Thanks for posting.

[proactivest] 07/7/2014 12:16

Video Interview

Scott Maybury, the chief executive of Private & Commercial Finance (LON:PCF), says the AIM-listed finance house is on track to meet targets this year for return on assets. He says the portfolio continues to grow and the credit quality is "improving all the time". Maybury however believes the share price does not reflect the improvements seen in the business. He also distances the company from the high-rate lenders that are attracting plenty of criticism for their underhand sales tactics and eye-watering interest rates.

[sharesoc] 22/6/2014 17:46

Reminder that Private and Commercial Finance will be presenting at our growth company seminar on the 25th June.
More at hxxp://www.sharesoc.org/seminarjune2014.html