Member Info for Stoopid

Https://www.bbc.co.uk/news/articles/cgjy29zql25o

The Hopcraft case that CBG fought against was for a commission of £183.26. This was not considered unfair by the Supreme Court.

Now, if CBG, in most of its dealings with car finance, only paid an acceptable commission i.e. a low one, to the dealer then the Johnson ruling of unfairness shouldnt affect essentially "fair" commissions and will only really affect those comissions that were exceptionally high i.e. unfair comissions.

The FCA should (in theory at least) only order a compensation scheme for those comissions that would be classed as unfair or excessive as per the supreme court ruling.

As such, if CBG where honest in the majority of their car finance dealings and comissions were sensible and low, then I cant see this affecting them as much as certain comentators on this board would have you think. I would love Knots evaluation that he posted earlier to be true but we will see tomorrow. I am hoping for a gap up of 100/150 tomorrow to 500/550 and then I will see where it goes. Trading will be hectic tomorrow and those trying to get in first thing will be able to but at the gap up price.

But, according to CBGs financials, any price below 800 is a good price.......

Manfor please stop spouting crap.

Hargreaves Lansdown show EPS for 2024/25 was 68p.

https://www.hl.co.uk/shares/shares-search-results/c/close-brothers-group-plc-ord-25p-shares/financial-statements-and-reports

Close Brothers themselves on their own page show for 24/25 basic EPS as 59.7p and adjusted EPS as 76.1p

https://www.closebrothers.com/investor-relations/investor-information/group-financial-highlights

Knot, thank you for all the commentary over the weeks. You deserve a beer or two with that popcorn.

Genuinely cant believe how helpful and honest you have been, there are so many scumbags and trolls on these forums. Thank You again.

LLOY/LYS have swung from 2.5% down to 4% up in the US

And there you have it. SC have stated that the dealers are not fiducaries and overturned the Court of appeal in CBG case.

BOOM on monday

What the SC appear to be saying in plain speak, is that there is no fiducary duty on behalf of the car dealers in relation to the sale of a car.

Thats awesome.

A Sales Transaction from start to finish!!!!

Https://supremecourt.uk/cases/uksc-2024-0157

This current ruling due Friday regarding CBG is not about DCA arrangements. They are not a direct part of the current SC case, compensation for them will be decided by the FCA. Cant believe we are still discussing this, surely people should know what this is about by now???

https://www.moneysavingexpert.com/news/2025/06/car-finance-compensation-update/

Read the above for a quick synopsis but no nuance.

Https://www.youtube.com/watch?v=171AEJQ7xYQ

Paypoint discussion @57 Minutes - £100m EBITDA this year and £125m EBITDA within 3 years.

Very Interesting......

Yes, current divi arrives soon and will be reinvested, and the next one.

Been in PAY for a while now. Im expecting good things (profits/revenue) from the ANZ link up via Obconnect.

Hopefully the AGM and trading update on 05th/06 the August will boost the share price. Should also see the divi increase to 40p/10p per quarter from the current 9.8p? Maybe the buy backs may start having an affect as well.

Https://www.lse.co.uk/news/CBG/uk-supreme-court-to-rule-on-motor-finance-commissions-on-august-1-fau39yrykib7t9h.html

From Reuters

Date next week - 01st August

They sold WInterflood because they sold CBAM and, as you rightfully point out, was surplus to requirements and generating no profits.

Why keep a £104m asset if its not generating a profit/money. Another reason I believe it was sold is that it got rid of all the risk weighted assets associated with WInterflood i.e. reducing financial risk in the event of any shock.

im sorry m007j were you adressing me? you seem to have me mixed up with the bears here, and like a poor marksman, you take aim and spout ****.

i have a lot of shares here with an average of about 350 and am hoping for a positive sc review on these cases but that still doesnt stop me in taking an objective view and looking at the facts and what is being reported.

as i posted below, i still dont believe the sc will impose a fiducary duty on car dealers, but facts are facts. cbg have sold off the family silver of winterflood and cbam to bolster their capital ratios and cash pile. remember all the current problems came just after the novitas debacle (which im sure you know nothing about) when cbg were forced to show a £165m write off in relation to the novitas portfolio. this was on the back of previous write-offs of over 100m.

so, do i hope that cbg share price will go to 1 x tangible book value, yes. do i think it will happen soon, no.

To be fair I have been wondering excatly the same thing. Also, what you are missing is the small print about where the legislation, in the advent of an adverse judgement, would prevent spillover into other financial products and areas.

"The retrospective application would aim to prevent the controversy from extending beyond vehicle financing into other consumer credit products where brokers receive commissions."

For me, the sale of Winterflood is bad, it suggests that CBG still need cash for CET1 ratio support for eventual payouts under any FCA compensation scheme.

The plot thickens, but i still believe, after everything I have read in relation to case law, that the SC will not impose a fiducary duty on car dealers.

With the decision by the SC looming, I thought I would repost this small legal opinion piece by Freeths, a top tier Legal 500 Law firm.

This is only their opinion and no one knows currently how the SC will guide.

https://www.freeths.co.uk/insights-events/legal-articles/2025/motor-finance-supreme-court-hearing-the-latest-viewpoint/

Https://supremecourt.uk/cases?cs=Judgment+scheduled&cs=Awaiting+Judgment&p=2 Page 2

Its still awaiting a judgement. Notification appears here and once posted a judgement date is usually a week later.

So, earliest date for notification will either be this afternooon or tomorrow and then a week later the decision is given and judgement is posted.

no **** sherlock.........

maybe i was just sarcastically commenting on the amount of ads i have been seeing and how they could give people the mistaken impression they are owed thousands by the banks and car finance companies??

Honestly, the number of adverts im starting to see promoting a huge payout due to car finance has gone mental. Even Matt Armstrong is getting in on the act and has done one advertising for solicitors saying you could get back thousands.

Makes you think you might have backed the wrong horse here.......

Totally correct, no one knows, but a lot of money is backing a positive outcome i.e. no fiducary duty for the dealers. Quite a few Law firms have also stated that the supreme court will likely support the no fiducary duty outcome. Ive paid my money and taking my chance.

That said even if CBG get a positive outcome they will most likely take a hit to their CET1 ratio/Level. 1% - 3% wouldnt be much of an issue. Its when any major hit to CET1 that would be 4% or over would drag CBG uncomfortably close to the minimum required level of 9% (from their current 14%/14.5%). This would come from an unfavourable Supreme Court Outcome. Oh, and a possible 450m quid for compensation!