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Many thanks just found out. Cheers
Definitely it’s confirmed in the daily news output that states 7 day look forward for updates.
Is there definitely an update tomorrow? Didn't the q3 update earlier this month replace it?
Didn’t think I’d see the 50’s again for a top up.
Fundamentals unchanged. Notaflipper covered it better than I can how strong relatively speaking the companies position is now.
It’s interesting that 90% of trades are automated. So basically, one algorithm competing against another algorithm to see which succeeds. It’s genuinely interesting but clearly not aligned to company fundamentals just chart and market direction. Rns will impact far more.
It is difficult to understand the SP shake despite some of the domestic COVID headlines given that a potential trading update is expected this week and results of the bond financing are due on the 5th November. Although enjoying a brief spike after the 14th October announcement the bond % has returned to its trend over the last few months of 90% suggesting some underlying confidence that the bonds will be refinanced.
https://www.londonstockexchange.com/stock/47AV/international-personal-finance-plc/company-page
With Barclays results earlier in the week suggesting that Financials are looking past the Covid woes of this year to the expected news of a vaccine we should expect the same improving outlook.
Q3 update confirmed positive momentum with £348 million of cash and headroom on current debt facilities and collections effectiveness improving to 95% of pre-Covid expectations in Q3. Return to profitability subscribed to by recent Holdings RNS of Artemis. This all suggests that the Group annualised impairment as a percentage of revenue 38.1% (HY 2020:37.5%) will not be actually that bad. Funny thing is that the sp has fallen from its pre-Covid levels more than this impairment performance.
Topped up with circa £8k purchase this morning on the dip.
I’m hoping 70’s this week too but, surge in Covid across Europe and negativity around that might slow us a bit potentially. I feel 70-75p is more than possible with Thursdays announcement though.
Surprised this is not in the 70’s already.
Strong feeling we should see 70’s this week...
I think the share is going to have a good week. The latest updates have indicated a more positive stance, control around Covid and a world where we manage these new risks around what we do.
I think we Will read positive updates that demonstrate worth investing certainly for the medium term
SP pick-up may suggest further news before next Thursday 29th.
My understanding is that the early deadline by when holders of existing GBP, SEK and EUR notes must give their voting instruction or exchange instruction by Wednesday 28th. The final deadline is the 3rd Nov. Otherwise they must attend the GBP, SEK and EUR meeting on the 5th and vote in person. It would suggest that if all votes and exchanges instructions are received before the 5th then this meeting on the 5th may be unnecessary given the present circumstances.
It wouldn’t surprise me if get rns for debt restructure earlier. All depends on the uptake and interest level.
ii loading up before is a massive confidence within the company equity value...easy buy and hold.
...should be quite interesting with a Trading Statement due next Thursday on the 29th and then the results of the debt refinance approval on Wednesday 5th Nov. Would be surprised we don't get to 70p beforehand.
massive show of confidence.
If thats not a buy signal that i am not sure what is....BUY!
Slightly down but not much, really happy in this share, update next week, Artemis buying in so positive moves.
I have been a bit surprised by the lack of sp momentum in the last couple of days and can only imagine that the sp is being held back for other IIs to load up on.
Straight upto 5.11% - funds and IIs posturing.
Refinancing the notes means no share dilution. Current trading will be weaker due to lock down. But this is not NFS, AMGO. Dividend may be reintroduced next year, once full year results are known, and how much free cash is being generated? Personally I'd like the company to buy back some notes, to reduce interest payments and then room to pay dividends.
May take some time to return to pre covid, but this is a well run company IMO and should get there. News of full take up of notes in November should propel SP northwards. Not that anyone needs reminding but immediate pre covid was 3x current price and it's been 4x that before
Been a long road for a lot of ipf holders but the board have gotten refinancing done at an acceptable rate given the times. No reason why can’t re-trace to at least 70-75p by end of next week. The dividend reinstatement I feel could be a longer process but great to have the bond issue behind us and hopefully over the worst of this. Hat tip to Gerard Ryan apart from the negative response to going concern statement he’s handled Covid well imho.
GLA
Great day so far. This should have a lot of legs for the rest of the week. The sp got to 74p on the hope of a refinance. With the offer now out and on these terms it looks like a done deal. We should easily get to past highs in the next week I imagine. My main hope is that the divi gets re-instated as that will bring in institutions and will then return the sp to the 100p mark.
a possibility once debt formally gets refinanced ?
a bit uncertainty would be removed till 2025....
Following on from the update, it appears IPF are on a solid footing and certainly have got their house in order.
The bond issue was a formality imho, the terms of the note seem fine in the current environment with the coupon extended by 5 years.
Business appears to have returned back to normal with a circa 95% collection rate. Headroom looks healthy with a good cash balance to boot.
I do believe dividends are likely the reinstated also which will then attract further funds into the mix.
Share price whilst risen has only made a small appreciation based on the news to date, I fully expect this to move steadily north from the lows.
Those in from these levels should see an excellent return in the coming weeks and months AIMHO