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So the CEO is off. Successor in place ??
Not sure how many of you believe in technical analysis, but 50 MA crossed 200 MA suggesting bullish upturn last week. Seems to be holding. Let's hope trading update next month validates this. I still think this is a majorly undervalued stock at this price.
Having said that the price finished up if only by 0.1p
Looks like two 265k share buys today yet the price went down.
Is there a big seller I wonder ?
this is cheap at mo, wonder if there is a possible bid coming??
Tangible Net Asset Value of the Group as at 31 August 2020 was 31p so a we may rise a little closer to that figure.
Good old opm. With a the massive movements we have recently had, opm never moved an inch. Now the market has retreated slightly, we go up by 8%. Brilliant. :-)
GPIM Limited acquired anther 1% of OMP according to todays RNS.
Yes, it's more good news, but Covid-19 2nd wave is putting a dampener on the TU.
"Since its launch, CBILS lending has become an important part of the Group's business loan and lease proposition with the initial lending allocation almost fully utilised. As such, the Group sought and has been approved for a significant uplift in its allocation. This will enable the Group to continue promoting and deploying the CBILS product through to the scheme's extended closure date."
I'd say this is more good news ;-)
A problem I see is that of margin on any lending with interest rates tending lower for some time.
Jolly. Not going to pay more than 10p
Not really that jolly are you.
The share price rise yesterday seem to have brought long suffering holders out to sell.
However, from the AGM statement things have progressed better than expected, admittedly there is the second and perhaps further waves to survive.
tp 10-11p
I'm in. Decided to take a punt. I said in July (while this was at circa 18p) that it was too early to buy. This update caught me by surprise. Now here I am buying around 18p again.
Covid-19 is only starting it second wave so the pandemic is far from over.
However, OPM sounding a lot more encouraging than expected so bought some this morning.
Nice upbeat RNS today.. will be great if they manage to pay the deferred dividend. Net Tangible Assets + Cash standing at 2 times the Mcap gives me a lot of comfort.
From todays AGM statement :-
"In the current economic environment the performance of the Group's lending book and the resilience of its balance sheet are paramount. The Group is therefore pleased to report that arrears have been reduced by more than £5m since its financial year end on 31 May 2020. Furthermore, the rate of new arrears has continued to reduce month on month, trending back towards the pre-Covid-19 levels from the peak experienced at 31 May 2020. The Group has also seen the level of write-offs in these four months remain relatively static and the historical rate of recoveries on amounts previously written-off being maintained at 70 to 80 per cent. of the impaired value. The Group's balance sheet continues to demonstrate its resilience with both net tangible assets ("NTA") and cash having increased from the 31 May 2020 levels with unaudited NTA as at 30 September 2020 now in excess of £28m and unaudited cash balances as at the same date in excess of £2m.
While the economic outlook is extremely difficult to predict at the moment this continued de-risking of the lending book and steady progress back towards historic levels of performance is considered grounds for cautious optimism by the Board.
Aeternitas Imperium Privatstiftung are buying OPM see RNS.
I bought in around 17p.
I appreciate those who bought around 50p have had a bad time, but a large degree of that is due to Covid - 19.
Covid -19 seems a valid reason to give for recent difficulties to me.
They made profit in last results despite taking a 5.4 million impairment charge. Hopefully they can remain profitable in current year although that is not guaranteed.
I am hopeful there loan securements will mean the impairment will not be quite as bad as it could have been.
Time will tell...
Not sure when you bought in, but there’s a lot here that purchased at a high price with a lot of growth promises. Seems a bit like COVID could be the excuse to not fulfill them. Other non prime lenders are making a big go of it in these times especially through the support of CBILS. I worry that the lack of profitability will wash through into poor cash flow and be used to prop up bad debt. I don’t like their BD policy, it appears to suit accountants, not hard actual bad debt write offs. All imo.
Looks like a raft of buys in the 100,000s so may not get a better value buy after all.
I am a holder and thus biased.
However, listening to the webinar on investor meet company website I was impressed that they have kept trading and in a post covid world they should do well. They have put money aside for covid induced impairments and they secure their loans so should recover around 75% of those going bad.
I will buy more if they continue to fall, but in no hurry as it seems probable the markets will slide in Autumn/Winter, just my opinion of course.
Too fragmented as a business. The latest RNS gave little about the future and COVID problems will no doubt come out the woodwork. CBILS should be a massive opportunity in this sector, but no news from them. Think they’re just keeping their heads down.
Steady selling and drift in price seems the order of the day.
Maybe the price is heading back to the March lows even.