Pcf Share Discussion Threads

[graham1ty] 15/4/2015 07:26

pretty good trading statement. Does ask the question how the Chairman was buying lots at 15p just a few weeks ago.........

[proactivest] 08/4/2015 14:07

Video interview with CEO Scott Maybury



Scott Maybury, the chief executive of Private & Commercial Finance Group (LON:PCF), says securing the £10mln facility shows the consumer and small business lender has the backing of the government.
In fact, Maybury says he only knows of two other asset finance companies that have also been rewarded.
The company has agreed a £10mln, three-year loan facility with the commercial arm of the UK government’s economic development bank. The British Business Bank Investments’ facility takes PCF’s total lending headroom to £32.7mln, which it says is sufficient to fund anticipated growth in both its SME and consumer finance divisions.

[graham1ty] 11/3/2015 07:46

not complaining, but why on earth did he pay 15p ??? It is pretty illiquid, but seems bit loopy to just pay up what the market makers asked. At least it sets a nice marker.....20% above the previous bid price. Be interesting whether this encourages a few to just get out.....or join the ride

[dendria] 10/3/2015 19:25

Sleepy boards hold the best shares...

[hpcg] 10/3/2015 19:14

ssh - there's people here trying to sleep!

[dendria] 10/3/2015 18:52

Typical - I put this on my watch/buy list at the weekend.

[proactivest] 27/11/2014 11:09

Video interview with CEO Scott Maybury



Scott Maybury, the chief executive of Private & Commercial Finance (LON:PCF), says he is pleased with the half-year results despite a slight delay in obtaining a banking licence.
Maybury talks about the competition from challenger banks and the importance of getting its own banking licence.

[topvest] 26/11/2014 20:51

Yes, all bodes well except for the rather poor excuse for the banking licence delay. Blaming on an office move is really a bit pathetic. Scope for further slippage on this, but no doubt they will obtain in the end.

[solarno lopez] 26/11/2014 07:50

ok apart from asset backing

[che7win] 26/11/2014 07:50

They should get it eventually I'd imagine, but it may be a long road ahead.

[bdroop] 26/11/2014 07:33

Positive RNS. How likely is the banking license I wonder? GLA.

[euclid5] 20/11/2014 12:49

Hello Graham1TY, can you please send me a copy of the last meeting

Thanks

[graham1ty] 29/10/2014 14:54

Got it from PM

[graham1ty] 29/10/2014 14:52

Der, was not watching.......I am not premium member so cannot PM

[tiswas] 29/10/2014 14:45

Thanks Graham

Hope you got email address ok. Private messaging also works, I will pm you.

Thanks

Rob

[graham1ty] 29/10/2014 14:29

Tiswas. Think Somers do want to hold 68%. they see it as a damned good investment. I have met Somers three times and discussed the holding. Re dilution, it is not quite as straightforward: yes more shares, but the 6% coupon disappears. So, not dilutive as it first appears. Second, on the balance sheet, add back in the gross value of the Convertible and the gross asset value is far higher than u think, so again not as dilutive. When the share price was 8.5p analysts kept on comparing apples and pears, so morons at City Insights, the house research, suggested an NAV of 5.8p.....but they had divided the assets net of the Convertible by the enlarged share capital. Now that the share price is way above the Conversion price, everything can be done on a fully diluted basis.

If u post yr email address at say 2.45pm ( then delete immediately) I will send u my write up of my last meeting

[tiswas] 29/10/2014 13:26

Thanks Graham.

All good points but I have not followed a stock with the potential for such a large dilution before, 2/3 effectively?

I wonder what Somers exit route will be if they do not want to end up owning 68%?

[che7win] 29/10/2014 12:52

It's the banking licence that excites me.

[graham1ty] 29/10/2014 12:24

First Bank of Bermuda have said repeatedly this is a holding investment:manifest by their moving it into Somers. Second, having a Bank behind them ( for funding in the difficult times, hence the Convertible) particularly approaching the banking license application can only be a good thing. Thirdly this is fairly cheap, even on a fully diluted basis. As the economy improves, credit ratings improve ( fewer defaults, better customers) and there is a five year lag. So "bad" business written five ago, when everyone was desperate is now almost cleared. At the same time, availability of funding for PCF has increased ( banks not fully in hide in the cave mode) so a virtuous circle for PCF....better clients being lent cheaper money. So eps rising c25% each of next two years.

Not for everyone, but some like OPM have proved highly geared to the end of the recession and have raced ahead.

[tiswas] 29/10/2014 10:00

Can someone please explain what the attraction is in the ordinary shares if faced with such massive dilution by 2016 and the possibility of a low ball takeover by a potential majority holder?

[davidosh] 23/10/2014 00:41

If you are interested in this sector then my mello2014.com event is worth a visit as OPM are presenting there and also a number of other companies in the sector that provide loans to SMEs www.mello2014.com

[che7win] 22/10/2014 18:54

Hpcg,
That's my thinking, a decent dividend and less risky than holding the ordinaries for now.

If they get the banking licence, there could be significant upside here.

[hpcg] 22/10/2014 16:34

I was tempted to make a turn this last time, but I thought it might be a bit crowded as a trade. May as well keep the effective "dividend" being paid as well.