Provident Financial Share Discussion Threads

[wad collector] 05/6/2019 09:18

Greg I think you have forgotten that this BOD (Minus a couple) made the disastrous decisions that took 85% off the share price
Hopefully they have learned not to mess with the original model.

[jas0701] 05/6/2019 08:59

7 pound here I come.Nice

[gregsc] 05/6/2019 08:48

I disagree wad collector.
PFG could be a good company if the BOD is allowed to get on with it.

[wad collector] 05/6/2019 08:24

The Provident Board notes the announcement by Non-Standard Finance plc ("NSF") that its unsolicited offer for Provident (the "Offer") has lapsed.


So, back as we were. Minus the £13M it cost to fight off this bid, or whatever the bloated sum was in the end.

Now back to the serious business of losing money....

[minerve 2] 04/6/2019 22:39

Great news GregSC

I feel a Citizen Smith moment coming on:

POWER TO THE PEOPLE!

LOL

[gregsc] 04/6/2019 22:19

NSF drops plan to acquire PFG !!!

British subprime lender Non-Standard Finance PLC is dropping its hostile 1.3 billion pound ($1.65 billion) bid for rival Provident Financial PLC, NSF said on Tuesday.

After talks with regulatory authorities, NSF’s offer for Provident would lapse as the regulatory condition would not be satisfied by Wednesday midnight, the company said in a statement.

“As of midnight on June 5, the offer will lapse and will not be capable of further acceptance and Provident shareholders who have accepted the offer will cease to be bound by such acceptances,” NSF said.

[gregsc] 03/6/2019 21:31

Excellent comment in the Guardian

He has been heavily overweight in non-quoted stocks and has taken big stakes in mid-sized quoted companies that are hard to shift quickly. There are not, for example, many overnight takers for 25% of doorstep lender Provident Financial Group. Illiquidity is built into Woodford’s portfolio these days. That’s a problem if the redemption demands keep arriving.

[dual] 03/6/2019 20:11

Woodford in trouble... this is probably why PFG share price has fallen for the past week.. Woodford will need to sell.I think this is the beginning of the end of Woodford Investment and with it NSF.

[gregsc] 03/6/2019 18:35

"Dealing in Woodford Equity Income has been suspended 'with immediate effect and until further notice' after a spike in redemptions from Neil Woodford's flagship fund.

Citywire understands that Kent County Council, which held around £250 million in the fund, served notice of its intention withdraw its investment on Friday. With the fund now suspended, the council, like all other investors, will be unable to access its money."

IMO Woodford is now vulnerable and may be forced to reconsider his backing for NSF.

[jas0701] 31/5/2019 09:44

mm's are playing their games

[gregsc] 30/5/2019 15:20

Minerve2
The trouble is I am invested in both PFG and Stobart.
I get the feeling Woodford is trying to wind me up.
He really should back off and stop trying to run companies he
has no business doing.

[minerve 2] 30/5/2019 14:53

Yes, I mean look at all the mess with Stobart. Completely trampling over decent corporate governance. Woodford has no respect or regard for other minority shareholders or, seemingly, the investors in his fund. He doesn't seem to have the intellect to realise there may be some cross-over between the two.

I hope he learns the lesson. Boy, he is getting whipped and thoroughly deserved IMO.

[gregsc] 30/5/2019 14:25

extractfrom the FT.


Investor redemptions are proving problematic for Mr Woodford as he has struggled to keep his fund below a regulatory imposed limit of 10 per cent invested in unlisted stocks. These illiquid assets are harder to sell than listed equities, forcing Mr Woodford to devise more creative ways to rebalance his portfolio, including listing some stakes in companies on the Guernsey stock exchange.

The fund has also suffered strong underperformance and is down 8.25 per cent this month, far larger than the 2.5 per cent fall in the FTSE All-Share index.

Several of the fund’s largest holdings have been hit in recent months. Shares in Provident Financial, the doorstep lender that is the fund’s fourth biggest holding, dropped 5 per cent on Wednesday after the UK competition regulator opened an inquiry into its hostile takeover by Non-Standard Finance. Mr Woodford also invests in NSF and has been pushing for the deal.

[gregsc] 29/5/2019 16:48

I think I have a good chance of losing a great deal of cash here if NSF is successful.
Can't imagine how Woodford thought he could come out ahead.

[jas0701] 29/5/2019 15:17

This is getting messy

[jas0701] 28/5/2019 15:30

Looks like the bid is faltering. Good news

[gregsc] 26/5/2019 11:35

If the NSF bid fails (regulators may block it), I expect PFG to rise substantially.
John van Kuffeler may need a get out excuse.

[dual] 25/5/2019 13:32

That Wally Woodford is behind the fall of the share price. Before the takeover started NSF and PFG were trading higher.

[jas0701] 25/5/2019 08:38

Was it even worth holding on for dividend. It's fallen twice as much as the dividend. One big nightmare!!!

[hem007] 23/5/2019 09:11

Dividend today 10p

[rajni120] 23/5/2019 08:26

Wtf going on here free fall for weeks ffs

[jas0701] 22/5/2019 11:24

Dividends Ex date tomorrow. 10p a share.