Time Finance Share Discussion Threads

[chrisdgb] 20/8/2021 14:33

Anyone know if the Wellesley stake is an overhang.....

[red ninja] 28/6/2021 17:27

Rob Walters joins as business development manager :-

"Time Finance are pleased to announce that they have appointed Rob Walters as Business Development Manager in their Invoice Finance division.

Rob joins with 25 years’ industry experience, having spent his career generating new business opportunities and supporting UK SME owners access finance solutions that support their growth plans. In his new role, he will be responsible for building and maintaining strong introducer relations whilst expanding Time Finance’s Invoice Finance offering in the North of England, with a focus on Lancashire and Cumbria."

[sharesoc] 21/6/2021 11:51

In case you missed our webinar with Time Finance the recording and stockopedia report can be found here:

To access the recording, you'll need to be a full member of ShareSoc, which is a not-for-profit organisation that supports individual shareholders and campaigns for shareholder rights. If you're not already a member you can join here: hxxps://www.sharesoc.org/membership/

Once you've joined, you'll receive an invitation to register for our "members network" private social network, from where you'll be able to access the recording (and recordings/reports on 100s of other meetings). If you're already a member and have any difficulty accessing the report, please do not hesitate to contact us here: hxxps://www.sharesoc.org/contact-us/

[ga_dti] 21/6/2021 08:45

Watch our latest interview with CEO Ed Rimmer talking through final results for the financial year ended 31st May 2021:

[arthur_lame_stocks] 19/6/2021 08:39

I was quite pleased with the update and am disappointed with the fall in price.

Profit has held up, NTA are up and the balance sheet is healthy. Who knows they may even pay a dividend this year.

Probably the main negative was the fall in new business origination but the company has ambitious plans to grow over the next few years and if these are realised today's price will look like a bargain in a few years.

I'm happy to continue holding.

[melloteam] 16/6/2021 16:02

Just to let shareholders and prospective investors know that Time Finance and Gresham House will be presenting at Mello Events webinar event on Monday 21st June at 6pm-9:30pm. There will also be interviews with Fund Manager, Stephen English and CEO of Spectra Systems, Nabil Lawandy. There will be over 600 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions including the popular Mello BASH (Buy, Avoid, Sell or Hold).
Tickets are still available and if you would like one at half price then enter the code MMTADVFN50.

[edmonda] 16/6/2021 07:50

Update today that it stayed profitable despite Covid. TIME has an experienced new CEO plus updated strategy to double the net lending book.
Market conditions are improving rapidly and Equity Development see fair value at 50p/share, vs 30p in market, read their new note here:

[sharesoc] 03/6/2021 12:22

Current shareholders and potential investors in Time Finance may be interested in our webinar on the 16th June. Ed Rimmer (CEO) and James Roberts (CFO) will be presenting to ShareSoc members:

[dogwalker] 06/5/2021 09:44

And further positive news in today's RNS.
The mention of dividend policy review is encouraging.

[edmonda] 22/4/2021 15:57

New research out from Equity Development on the reported good progress: sharply reduced forbearance from the peak last June, cash & net tangible assets up, and funding facilities > £170m.
Free access to full note and analyst's audio summary here:

[edmonda] 22/4/2021 08:51

Agreed - reads v nicely and share price understandably up sharply with NTA at £28.5m and cash at £6m (4x level 10 mths ago). Forbearance 90% lower than June '20 peak + support from all key funding partners.

Shares have done well this year and valuation gap is shrinking, but its still there:

[red ninja] 22/4/2021 08:45

Nice corporate update :-

"Robust Balance Sheet

Notwithstanding the wider macroeconomic environment, the Group's NTA continue to increase month on month. At 31 March 2021, unaudited NTA amounted to approximately GBP28.5m compared to GBP26.5m at 31 May 2020. Over the same period, the Group's focus on cash generation has continued to have a positive impact on liquidity with cash and cash equivalents of over GBP6m at 31 March 2021 compared to approximately GBP1.5m as at 31 May 2020. These healthy cash levels are vital for future lending growth.

The Group's lending book remains robust and resilient with pandemic-related forbearance having reduced from over GBP25m in June 2020 to under GBP2.5m at 31 March 2021. Most significantly, as at 31 March 2021, total arrears had fallen below the pre-Covid Levels of 28 February 2020 for the first time since the start of the pandemic.

Improved Funding Facilities

The Group has distinct funding lines for each of its three own-book lending divisions - Asset, Loan and Invoice Finance - and is pleased to report that it continues to enjoy significant support from all of its key funding partners. The Group has recently negotiated renewed and increased Block Discounting facilities for its Asset and Loan divisions totalling approximately GBP103.5m. These facilities sit alongside the Group's GBP42m back-to-back facility for the invoice finance division and the GBP25m medium-term loan note programme which is used primarily in the Loans division.

As has always been the case with the Group's asset and loan funding, these renewed borrowing facilities require the Group to fund between 10% and 20% of each deal from its own resources, with the funder providing the balance. The term lengths with funders are largely "matched" with the Group's own-book lending to UK SMEs. As such, the funding amortises over the duration of the lease or loan term, which is typically three years, and is not impacted by interest rate changes. This matching practice and fixed interest rate policy are key elements of the Group's risk management and governance policies."

[red ninja] 24/3/2021 09:44

Stock supply to buy seems tight wheras they are happy to take sells up to around 75k.

Looks like the price may be heading higher.

[red ninja] 23/3/2021 11:21

Lots of buy trades today and yesterday, I wonder if it's been tipped as it has been like sleepy hollow recently.

[dogwalker] 03/3/2021 16:33

That said, hopefully the worst is over & we'll have support around the 21p mark now.

[dogwalker] 03/3/2021 16:29

Presumably it's the dividend 'policy' stated in January's results news that's caused the current valuation 'adjustment'.
Also,saying you have 'good visibility of future revenue' but there's 'uncertainty in business conditions' is a bit muddling for some of us.
The interim results statement guarantees a poor share price performance until after the full year results announcement , at least. That is , of course, unless there's some startling news in the meantime.

[edmonda] 21/1/2021 08:07

Echoing previous comments , Equity Development also think the recovery is well underway and coincides with a Group rebrand.

We initiate coverage, noting that valuation multiples suggest its shares are significantly undervalued vs peers. Read detailed note here:

[energeticbacker] 20/1/2021 10:43

The share price has bounced off lows, but it still looks ridiculously good value.

Is there big trouble ahead, or is Time Finance yet another of Investor's Champion's Bonkers Bargains set to double?

Full year results carried plenty of prudent write-offs, but the latest interims suggests business is recovering faster than originally anticipated.

[tiswas] 19/1/2021 13:24

Decent set of results.

Does anyone know why Wellesley took the stake when they already seem to have issues of their own?

[red ninja] 12/1/2021 09:20

Yes, I believe they are just transfers.

[tiswas] 12/1/2021 09:13

Presumably the 2 rns today are simply transfers of holding between group companies?

Wellesley looks a bit of a mess looking at latest companies house info, do we know the reasons for taking the holding in TIME?

[red ninja] 06/1/2021 09:41

I wonder if the principal shareholders were less than impressed with the generous management share options,

[speedsgh] 06/1/2021 08:03

Both CEO Ian Smith & Chairman John Newman are leaving...

Directorate Changes -

Time Finance plc, the AIM listed independent specialist finance provider, announces the following directorate changes.

John Newman, Non-Executive Chairman of the Company, has informed the Board of his intention to retire. As part of a succession plan already agreed by the Board and currently in progress, he will step down on appointment of his successor. The Company is currently in discussions with potential candidates and an announcement in connection with the appointment of a new Chairperson will be made in due course.

In addition, following recent discussions between the directors, the Company's principal shareholders, and Ian Smith, its Chief Executive Officer ("CEO"), it has been decided that, following the recent re-branding of the Group to Time Finance and the successful leadership of the Group through the impact of the Covid-19 pandemic to date and given Ian's intention in any event to retire at the end of 2021, now is an appropriate time for Ian to step down from the role of CEO of the Group. Ian will leave the Group's employment and cease to be a director of the Company once a suitable successor is appointed.

A process is underway to identify a potential successor as CEO and the Company will make a further announcement in due course.

John Newman commented:

"Under Ian's leadership the Group successfully implemented a "buy and build" strategy that he was instrumental in building and directing and which has taken the Group from a single product Company to being a specialist provider of a wide range of finance products to UK SMEs. This transformation has been due in no small part to Ian's dedication and commitment to our business and to supporting and guiding every member of our team in meeting the Group's strategic objectives over the last five years. The Board's sincere thanks and appreciation are extended to Ian with our best wishes for the future."

[wanttowin] 17/12/2020 09:48

Well I hope they achieve that RN, opens a door for me to get out.