What does anyone think about this share in the short term?

Rise to 685?

Seems to be a good trender !

and-where are their execs now....? Well taking a shrewd guess I think a few of them may be here.





Had a wee punt on these to tuck away in my Isa, interim divi payment tom 18th. DYOR
penny stock risky. Impossible to trade too wide a spread.

02 FEB 2018
Provident Financial Group appoints Malcolm Le May as Group Chief Executive Officer
Provident Financial Group is pleased to announce the appointment of Malcolm Le May as Group Chief Executive Officer, with immediate effect. This follows a Board process led by Stuart Sinclair over recent months. The Board believes that Malcolm Le May is an outstanding candidate for the role, given his existing knowledge of the Group, his deep knowledge of the business and sector, his regulatory understanding and turn-around and leadership skills. In making this decision the Board has consulted with certain of its leading shareholders and discussed his appointment with the FCA.

The Board also notes that since the trading statement on the 16th January 2018, Home Credit continues to make good operational progress, and discussions continue with the FCA in relation to the Vanquis Bank and Moneybarn investigations.

The company also announces a number of senior appointments to drive the execution of the Group’s strategy under Malcolm Le May to serve customers better, enhance our relationship with the regulators, and to restore sustainable attractive returns for our shareholders:

Having a good day, bang on recent resistance, indicators turning up, still low volume. On watch list.

MCL steady as she goes, PFG another Woodford disaster, not his year.

Market movers and why Provident Financial has plunged again
By Rebecca O'Keeffe | Mon, 26th February 2018 - 13:06

Equity markets in the UK and Europe made a good start, following on from a late surge in the US on Friday and a positive start to the week in Asia.

Inflation and US monetary policy has been the catalyst for recent volatility and remains the centre of attention, with all eyes on Jerome Powell's economic testimony this week and the Federal Reserve's preferred inflation measure, the core personal consumption expenditures price index, due out on Thursday.

This week gives investors the first major opportunity to establish what new Fed chair Powell thinks about the US economy, as he appears before congress on Tuesday and Thursday.

Mr Powell has had a baptism of fire in the three weeks since he took on his new role, with markets experiencing huge volatility on fears that inflation will see the Fed raise rates more aggressively than anticipated. The opportunity to establish what he thinks about the US economy, inflation, interest rates and asset values is therefore highly important for markets.

Current market valuations were one of the main talking points from Warren Buffett's annual letter, as he gave investors his view of the world. His efforts to deplete his burgeoning war chest and pull the trigger on a major deal in 2017 were all scuppered by his inability to find anything that he believed offered a "sensible purchase price".

For the ultimate deal maker and value investor to conclude that the market is not offering any attractive buying opportunities is a potentially worrying sign for investors.
Ahead of its results tomorrow, Provident Financial (PFG) shares are spiralling sharply lower.

Two separate investigations by regulators are likely to result in significant fines for the company, but today's move follow weekend reports that it may be planning a huge rights issue to try and get the company back on track.

StockMarketWire.com
Sub-prime lender Provident Financial launched a £331m equity raising after misconduct payments dragged it into the red.

The company said a resolution had been reached over a Financial Conduct Authority investigation into its Vanquis Bank unit regarding a failure to adequately disclose interest charges to customers.

The total estimated cost of the settlement of £172.1m reflected customer restitution in the form of balance reductions and cash settlements, plus a fine issued by the FCA.

The company's Moneybarn unit continued to cooperated with the regulator in its ongoing investigation into affordability, forbearance and termination options, with an estimated liability of £20.0m, Provident Financial said.

The charges led it to book a statutory pre-tax loss of £123.0m, compared to a £343.9m profit in 2016.

Proceeds of the capital raising would meet the estimated costs of the FCA investigations and 'ensure the group has appropriate levels of buffer over increased regulatory capital requirements, primarily due to an increase of approximately £100m in respect of conduct and operational risk assessments'.

'When I became group CEO, I stated my key objective was to execute a turnaround of the group,' chief executive Malcolm Le May said.

'Today we have made progress on that objective by agreeing a resolution with the FCA in relation to Vanquis Bank and we now have a clear view on the estimated cost of the FCA investigation of Moneybarn.'

Le May said the group's businesses were all 'well positioned' in their markets.

'In 2018, the group will continue to rebuild trust with our customers, regulators, shareholders and employees.'

'The group's turnaround is making progress, but the board and I realise there is still much to do to achieve a customer centric business delivering long-term sustainable returns to our shareholders.'

Up 75% - amazing.

Peel Hunt Hold 943.80 870.00 870.00 Reiterates

Numis Buy 943.80 1264.00 1264.00 Reiterates

Liberum Capital Under Review 943.80 - - Under Review

Shore Capital Hold 943.80 - - Reiterates

Some interesting gaps on the chart.

Crazy times.

I assume this is partly shorters getting fried.

...and if the stock goes ex-rights, they get fried...extra crispy!

DIVI paid what is it? for 2017 year BB

Hedge funds caught short by Provident Financial squeeze.

Reuters - UK Focus 27th February 2018.

14 funds had large short bets at Mondays close - FCA

Lansdown Partners, Pelham, AQR among most exposed -FCA

Hedge funds were caught out by a big short when the British sub-prime lender revealed plans to shore up its balance sheet on Tuesday, triggering a squeeze which drove a near 90 percent spike in its share price.

Provident's 331 million pound ($462 million) fully underwritten cash-call was smaller than the 500 million pounds some had expected, catching a number of hedge funds on the hop and potentially exposing them to losses on their trades.

At Friday's close, around 12 million shares in Provident were out on loan, a proxy for demand from hedge funds betting the shares would fall in a so-called short trade, data from Astec Analytics showed.

Lets hear it for them!

Publication of a Prospectus

I don't understand ! I understand the short squeeze but I'm surprised the share price has risen so much.

The rights issue came in at two-thirds the value that was being mooted which enables their capital ratio to have some headroom.

But then they are going to reinstate the dividend in 2019. It seems to me that this leaves them rather leveraged in the event profits do not deliver and they will have the bonds to refinance in due course as well.

It seem to me there is alot of trust profits are going to be delivered as promised

A bit of 'whore's drawers' this morning - its already ranged a quid.

have sold yesterday, to much debt . M fool avoid also BB

RNS out this morning and now I understand price action.

Woodford has bought another 2m shares. Perhaps not all yesterday but over the last few days or weeks.

So, he's supporting the price and causing the short squeeze.

I think this is really dangerous. He's got 24% now. At 30% he won't be able to buy any more.