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Very close...
Nice summary nostra. Bonkers indeed. Rise today supported by the delayed 7k buy. A change is due here.
Ive averaged down to 2.95 over the last couple of days on a pretty big position (for this share) and as chance would have it last time I had a position around the 3 average was when it popped to 6 plus feb/mar time. I cant remember any significant news that caused a day spike back then but volume just picked up massively over a couple of weeks. Ive been looking at the charts (im not a chartist really) around that time and nothing significant has changed (if anything things have got better) and this share is just bonkers enough to do it again. GLA
Any buying pressure and they will double. Dyor
Needs to be 5p for placing.. Moving now dyor
Buy as many as you can... Its starting....
Rebound should be impressive. Should be 5p+
Bought some. Oversold.
Come on seriously, I really can’t believe that the doorstep arm of the business is still trading and alongside the other issues and the ongoing FCA investigation how can this place survive.
As I have mentioned before on previous posts the rot had set in way before the FCA investigation and covid.
NSF’s first acquisition was loans at home from SUPLC and NSF paid £82.5M, many people will say that they paid way over the odds.
In my opinion now this is not necessarily true as the business was producing solid year on year profits and looked to be very stable, so was probably worth the price at the time.
There has obviously been to many policy changes that have had a detrimental affect on the business, I can understand the need for change with the FCA now regulating the doorstep credit industry but the current share price IMO is ridiculous and has been for a while.
Can anyone see this share increasing to a significant amount because I can’t anytime soon.
Newstart,
i understand you are not happy with NSF IR, especially under the background of recent SP drop.
but most of the questions you raised in the previous posts do not need NSF to issue a RNS to explain.
although i am also disappointed with the SP and the FCA regulation issues, but i have to stand upto speak for Mr Peter Reynolds.
Mr Peynolds tried his best ( let me say) to answer my calls every time. sometimes if i could not get hold of him right away, he always calls me back very shortly.
I suggest you try to contact him directly.
Don
I’d also ask what Peter Reynolds does as Head of Investor Relations. Was looking for details of the new remuneration policy they voted through last week but the website hasn’t been updated in over a year. It talks about Trust Two loans (didn’t they stop in early 2020?), the Guarantor Loans business they are closing, growing 20% profits every year (never made any!) and so on.
Let’s have an update on my questions below, on the FCA, answer as to whether any staff are still even employed in Guarantor…oh and the low down on their remuneration policy. That was presumably written by Gillespie the CEO, who was CFO when PWC resigned over control failures.
This is so frustrating- absolute silence from this lot.
Peter Reynolds- this is your job. Speak up!
It’s an employer yer bell
totally does not make sense to have a xmas party in the current climate especially for a business thats crippling in all areas. Morale must be low therefore high turnover - bullying, disciplinaries who knows BUT the management need to get back the controls in place as the share price is heading too much down south!. We have seen this before WELCOME FINANCE, HFC / BENEFICIAL, REAL PERSONAL FINANCE & BLACKHORSE...sub prime a very high risk un-sustainable business. Yes short term gains but no real long term platform for future scope. I see it happening sooner than later...branch network closure and centralised lending (short term to wind down) and collecting the remaining poorly underwritten book.
Questions I would like to ask but can’t as no one takes my calls;
Is it Ok there has been no CFO for 5 months?
What were the control failures PWC resigned over?
Who will manage the £225m refinance that falls due
next year?
When did they move HQ to Wakefield?
Have they really had 100+ resignations from Everyday in the last 9 months?
Was it a good idea to have the remaining 150 staff at a Christmas party last week?
How many bullying and grievance claims are Everyday fighting?
Have they moved Everyday to fortnightly sales targets, with unmet mid month targets getting added on to full month targets? For how many months in a row have sales targets been missed?
Arrears accounts were classified as non arrears due to Covid. How is the loan cohort given Covid forbearance performing?
The three FCA investigations into lending, collections and complaints-in all three companies-have been going on for 18 months now. Is there any end in sight as they can’t refinance without this being resolved?
Resolution was promised in Q1, Q2, Q3 and then by end of year.
What can Gillespie or Wiggins say to assure us they have any clue about, or control over, what is going on?
Are Alchemy interested in buying the Everyday assets out of Receivership and restarting as a Central based, non customer facing, business with maybe a few dozen staff?
@Candlehead your source may have their own ulterior motive DYOR and come back with some hard facts
I think that probably has more to do with the new Covid variant. From the NSF website:
The impact of COVID-19 required a substantial operational shift towards remote collections and lending whilst social distancing measures were introduced. The prevailing challenges mean that we have withdrawn all market guidance for the time being. However, Loans at Home remains focused on rebuilding its loan book and number of active customers. Having grown the number of agents, customers and loan book strongly over the past few years, as the UK economy recovers after the impact of the pandemic, the focus will be to restore profitability through a combination of increased lending, careful management of impairments and costs. Whilst we do not expect to add a large number of new agents in 2021, we will always consider opportunities as they arise.
It’s not fake news it has come from a self employed agent who works for the company, he is now restricted to a very few select customers who he can lend too, loans at home is slowly winding down the way provident did with there home collected credit arm of the business
New broker one week, new accounts on here saying the end is nigh the next. That's AIM for you.
Nostra,
many thanks for your reply.
I just contact NSF, there are still lending at the loans at home department, there's no waive off old loans.
the SP is dropping one of the reasons is i think most of the IIs are in holiday and few of the PIs could manipulate the SP relatively easier.
I learned from this that be careful with the messages we read here.
some one is profiting to spread the fake news.
Do check the posters profile.
Don.
Don, DYOR etc etc but Loans at Home is only 15% of the loan book of every day loans. If they were centralising it would make sense to fold it into the bigger brand....IMOHO only (as people are throwing around phrases including material information ;-)
it's a materiel information and NSF should issue a TU news.
did any one get confirmation from NSF?
I think previous poster is correct in the suspension of Lending. The end appears in sight.
Why the 20% drop without any news?
same with satsuma my friend just had his loan wipped off does not have to pay a penny of it back
Rumour has it that loans at home have now either drastically reduced or stopped lending altogether