Member Info for BetterX

I don't believe there is anything intrinsically wrong in the guarantor loans product given that they are sensibly offered by reputable companies who ensure all proper diligence is undertaken so that all parties know the risks involved.
Far better dealing with a reputable company than the guy down the pub with questionable collection procedures & truly exorbitant interest rates.
This is where confidence in the probity & internal procedures undertaken by the company offering such a product comes into play. PFG have already been under the FCA microscope & should be in a very good position to offer these products whilst ensuring that all the FCA required procedures are adhered to.
NSF, Amigo et al have still to have the pleasure of an in-depth investigation from the FCA with all that that entails (extra admin/compliance staff with possible repayments, write-offs, compensation, penalties...).
For a company in this industry there should be an asset category in the balance sheet - FCA investigated & a special T shirt worn by all staff - FCA Approved (both comments made tongue in cheek...).
But PFG have been there, got the T shirt & are worth a lot, lot more than the derisory NSF offer IMHO.
DYOR etc

I reiterate the views expressed by Theborn. The NSF offer is equivalent to an attempted high street mugging & deserves to be kicked where the sun don't shine.
It might be a good deal for Woodford & co (although that is open to debate) but is far too low to be attractive to a PI who does not want to hold NSF.
It will be interesting to find out what PFG BoD have up their sleeve. There is such a price disconnect between offer price & company value (IMHO) that other parties must be interested. Only takes 2 to tango & obtain a more realistic take-out price for the company.
DYOR etc

The NSF offer is far too low & does not merit acceptance particularly given all the other issues relating to the industry within which both companies operate.
PFG has been made to address these, has been through the "ringer" and is showing that there is life after the FCA has been crawling all over it.
Anyone that has any experience with organisations such as the FCA will know that they work very slowly & create huge disruption to the normal workings of the company that they are investigating. Against this backdrop the progress that PFG has made during this time as evidenced by recent results is meritorious.
Had NSF been offering north of £7 (equivalent) then it may have been worth supporting but the very low offer & the increased risks do not make it at all attractive.

Will be interesting on Monday.
US courts are well known for their lack of impartiality & support of US domestic interests. The widespread problem of opioid addiction in the US together with the move to combat high drug prices championed by Trump & driven through by Gottlieb at the FDA was a "perfect storm" for INDV to weave their way through when seeking to protect their IP in Suboxone film. Hardly surprising that they have encountered substantial problems when trying to do so & the consequent decimation of the SP.
However, some things have changed.
INDV have now brought out their own generic version at a substantial price reduction. They have also been active in developing (rather than copying) new products to combat opioid & other afflictions. Gottlieb has resigned which, although maybe not reflecting a change in policy at the FDA, will not be a negative for INDV.
Its possible that April 1 may not be a day for fools holding shares in INDV.
DYOR etc

Obviously large s/h selling.
May be adjusting their position ahead of US court oral hearing for patent action which is scheduled for April 1st.
This is my speculation but cannot find anything else for the large price movement (apart from general market condition which is very uncertain).
The court hearing can obviously go either way so opportunity for high upside as well as downside.
DYOR etc

The issue is far more important than whether UK leaves EC or not.
The fundamental issue is that of democracy.
The Referendum result was a clear vote to leave.
Overturn that result & democracy in UK is no more.
The hypocrisy of those MPs seeking to overturn the Referendum result is that they are in parliament as a result of 1 public vote. They should be honouring the will of the people as expressed in the Referendum.

The market is telling NSF that its offer is too low & will need to significantly increase.
How long before second bidder steps up to the plate?

Good results. 10p dividend is the high end of nominal.

I would expect the nominal Dividend to be announced to be higher than would otherwise have been the case pre-NSF.
The results as a whole obviously need to be at the top-end of expectations to support PFG's narrative of a company being turned around & making good progress.
Plenty of time for other interested parties to get involved once the results are made public.
The NSF offer greatly undervalues PFG IMO & PFG BOD need a white knight.

Good defence arguments by PFG BOD released today.
Also updates on PFG progress with new management & regulatory issues.
PFG under-valued at current SP IMHO.
DYOR etc

Its a day traders dream due to volatility.
Buy on dips and either sell on rise or hold.
Hold because the share IMO is under-priced given new drug launches etc.
Currently price is restrained due to legals / uncertainty.
DYOR etc

Woodfords reduction is signalling that way is open for a second bidder.
PFG's delay of results until 13th March is 1 day after NSFs results on 12 March. Tactical but also gives PFG BOD time to sound out other interested parties.
DYOR etc

"The Board therefore intends to do everything it can to maximise value for all shareholders over the coming weeks and will explore all appropriate alternatives to achieve that objective." Part of Chairman's response.
White knight in the offing to make NSF pay a fair price?

I note the continued Woodford bashing by certain Motley Fool contributors.
Very easy to knock Fund Managers given their high profile position.
They make mistakes, but so do Motley Fool...
In this instance the combination of NSF and PSG in this particular market makes a lot of sense.
NSF management know the industry inside-out, they also know PFG inside-out, there are a lot of savings to be made through combining the 2 businesses but also the deal ties-in Woodford et al to supporting the take-over & making sure it works. NSF post takeover will be an industry leader with momentum to take the SP back to equivalent PFG share price of 3 years ago (so NSF price of £2 plus).
This is a no-brainer & will deliver far beyond the take-over.
DYOR etc

This comment is right on the money. When dealing with non-UK markets UK standards (obviously) do not apply. However, UK regulatory bodies still look to enforce UK regulatory standards.
Get real please.....

Supporting NSF SP obviously increases the value of the offer.
Currently 66.8p.
If reaches 70p will value offer at £6.16, 80p SP will mean £7.04.
£7.04 will be fair price for PFG now IMHO.
All the benefits of a combined NSF/PFG will be substantially more than £7.04 assuming first-rate NSF management.
Either way win/win
DYOR etc

NSF SP creeping up (now 64p) which makes PFG offer worth £5.63.
Still far too low to take out PFG IMHO.

These went to circa £6.50 in January before release of update & then plummeted.
Recent SP has been very disappointing.
This offer will sharpen the minds of current management & next week's results with expected dividend will be a litmus test on whether they are capable of delivering.
The founder of NFS was at PFG for 30+ years before leaving about 6 years ago.
He should know the industry inside out. Probably explains in part why Woodford etc have backed him.
Good management is key to any business.
All the ingredients in place to make this a very interesting play. Apart that is (currently) from another bidder.

Given PFG board will be replaced by NSF the PFG response is hardly surprising. But the NSF offer is not very generous & is really based on realisation of future benefits which could be very substantial.
However, situation might tempt others out of the woodwork given NSF's low offer...
Interesting ride in prospect.

Board's response will be interesting. Given Woodford's etc support for NSF offer it would appear its a slam dunk.
However, stranger things have happened.
Another bidder(s) would liven things up...