Member Info for mariog

Top shareholders hold around 50% of shares, not 50 shares of course :)

Divi is on hold. You can expect divi back in 2022 if no nasty surprises are received. Biggest shareholders holding approx 50 shares here will be pushing for divi to be reinstated imo. Also they will be calling for rights issue as any other form will dilute their holdings in so their position. Another words can't see them accepting open offer in Q2.

https://youtu.be/eSYT6zJNlwc

Not seeing yours before, I just posted something very similar at Non Standard Finance BB, haha

I don't think this has anything to do with IG. Some other companies on the IG list are trading normally. Rather the lack of news and day traders who decided to move somewhere else caused trading to flatten. Good news is that we have limited selling pressure and current holders expectations for the next leg up shortly.

Redress

Having formulated a detailed redress methodology in conjunction with its advisers, the Board has made an associated provision totalling £15.8m in the 2020 half year results. While this represents the Directors’ best estimate of the total cost of settlement of redress amounts due to affected guarantor loans customers, the Group has yet to agree its methodology and analysis with the FCA. The Group is continuing to engage with the FCA and is focused on reaching a conclusion as soon as practicable when a further announcement will be made.

Funding

The Group’s debt facilities currently include a £285m term loan facility (the ‘Term Loan’), provided by a group of institutional investors, led by Alcentra Limited. The Term Loan, which is not repayable until August 2023, bears an interest rate of LIBOR plus 7.25% per year with interest payable every six months. In addition, the Group has a £45m revolving credit facility provided by Royal Bank of Scotland at an interest rate of LIBOR plus 3.5% per year. Both facilities are fully drawn and while the Group has continued to operate within the financial covenants on both facilities, in the light of the material uncertainties outlined above, it is in active discussions with its lenders regarding possible future covenant waivers.

The Group also has a £200m securitisation facility that was put in place with an initial drawdown of £15m during April 2020. Whilst the onset of the pandemic resulted in the Group breaching certain performance triggers on the facility during the first half of 2020, the drawn amount was repaid on 26 August 2020, removing the outstanding breach. While the facility remains for potential future use, current cash balances mean that there is no requirement for further borrowing at the present time and the prevailing covenants and the requirement for lender consent mean that the facility would likely remain unavailable in the absence of a further capital raise.

Forgot to say. From this what I understand the board is expecting FCA response to be received within 0-30 days

Main event is the FCA guarantor loans sector review and if the estimated 15.8m redress will be confirmed by FCA. If yes, the company will be looking to raise capital (probably rights issue) with Alchemy, main shareholder to strenghten its balance sheet to have rights to use the 200m securisation facility (for new lending or expansion). As you can see market capitalisation is very low vs the 5m+ net cash generated monthly. Personally I cannot see any capital rise to happen at this share price level. I think it will be announced once sp recovers to 15p level and then with rights issue in Q2 you never know. Some institutions or funds can be loading up to secure rights to buy shares as the 49-99% APR business is sweet enought to be in once economy gets stronger after COVID19. It is an undervalued share no questions about it. Bit in a shade od Amigo or Supplyme nowadays, but maybe it is its main strength. Half of the directors board have been previously working at Provident so I feel they know what to do.

quiet today

I moved all from Amigo here. Lower possible return, but risk is significantly lower too. Hope your Amigo will get good news, but bear in mind, it is kind of binary bet, regardless of names buying before the verdict.

Wish we could see some unexpected TR1 or directors buy. Reaction to such news would be huge. JPM staying around risky Amigo makes me think that the 3-4% TR1 is possible.

Matter of days and will be in 8-9p range. We just need to be patient.

Must be another seller then.

I guess this is computer made page, but wouldn't be nice to see 24p today? :)
https://www.marketbeat.com/stocks/LON/NSF/price-target/
Dividend Yield 31.99% - of course divi is ON HOLD here

under radars again and this is very good as the herd is far. steady rise to 12p and then some stop and consolidation in my opinion

Just rerating back to 12p imo

Feb '21 https://www.credit-connect.co.uk/consumer-news/everyday-loans-appoints-chief-executive-officer/

25k salary https://www.cv-library.co.uk/job/213288936/Customer-Account-Manager

https://dailybusinessgroup.co.uk/2021/02/ex-stock-exchange-offices-secure-new-tenants/