Edition:
United States

Provident Financial PLC (PFG.L)

PFG.L on London Stock Exchange

690.40GBp
20 Apr 2018
Change (% chg)

-2.60 (-0.38%)
Prev Close
693.00
Open
695.00
Day's High
702.00
Day's Low
689.00
Volume
287,045
Avg. Vol
1,283,400
52-wk High
2,402.87
52-wk Low
312.14

Latest Key Developments (Source: Significant Developments)

Provident Financial Says Subscribers For 3.9 Mln Shares At 665 Pence/Shr
Tuesday, 10 Apr 2018 05:53am EDT 

April 10 (Reuters) - Provident Financial PLC ::CONFIRMS BARCLAYS, J.P. MORGAN SECURITIES PROCURED SUBSCRIBERS FOR 3.9 MILLION SHARES, OR 3.7 PERCENT OF NEW SHARES, AT 665 PENCEPER SHARE.  Full Article

Provident Says Got Valid Acceptances for About 96.3 Pct Of Total Shares
Tuesday, 10 Apr 2018 02:00am EDT 

April 10 (Reuters) - Provident Financial PLC ::RESULTS OF RIGHTS ISSUE.ANNOUNCE THAT 17 FOR 24 RIGHTS ISSUE OF 105 MILLION SHARES AT 20 8 /11 PENCE PER SHARE CLOSED FOR ACCEPTANCES.RECEIVED VALID ACCEPTANCES IN RESPECT OF 101 MILLION SHARES, ABOUT 96.3 PERCENT OF TOTAL NO OF SHARES TO BE ISSUED.  Full Article

‍Investor Woodford Makes Marginal Icrease To Provident Financial Stake
Wednesday, 28 Feb 2018 05:52am EST 

Feb 28 (Reuters) - REGULATORY FILING​::‍WOODFORD INVESTMENT MANAGEMENT LTD INCREASES STAKE IN PROVIDENT FINANCIAL PLC <<>> TO 24.41 PERCENT FROM 23.03 PERCENT.  Full Article

Provident Says Fully Underwritten Rights Issue To Raise About £331 Million
Tuesday, 27 Feb 2018 02:34am EST 

Feb 27 (Reuters) - Provident Financial Plc ::RIGHTS ISSUE.ANNOUNCES A FULLY UNDERWRITTEN RIGHTS ISSUE ( "RIGHTS ISSUE") TO RAISE GROSS PROCEEDS OF APPROXIMATELY £331 MILLION.HAS TODAY REACHED A SETTLEMENT WITH FCA IN RELATION TO ITS INVESTIGATION INTO SALE OF VANQUIS BANK'S REPAYMENT OPTION PLAN.PROVIDENT FINANCIAL GROUP HAS TAKEN A PROVISION OF £172.1 MILLION IN ITS AUDITED CONSOLIDATED FINANCIAL STATEMENTS FOR 2017.MONEYBARN IS CONTINUING TO COOPERATE WITH FCA WITH ITS ONGOING INVESTIGATION INTO AFFORDABILITY, FORBEARANCE AND TERMINATION OPTIONS.IS TAKING NECESSARY ACTION TO RAISE ADDITIONAL CAPITAL TO MEET COSTS OF RESOLVING INVESTIGATION BY FCA INTO VANQUIS BANK'S ROP.  Full Article

Provident Financial Says ‍FY Statutory Loss Before Tax Reduced By 135.8%
Tuesday, 27 Feb 2018 02:03am EST 

Feb 27 (Reuters) - Provident Financial Plc ::‍SETTLEMENT AGREED WITH FINANCIAL CONDUCT AUTHORITY (FCA) ON VANQUIS BANK'S REPAYMENT OPTION PLAN (ROP) INVESTIGATION​.‍TOTAL ESTIMATED COST OF SETTLEMENT OF £172.1M REFLECTED IN 2017 FINANCIAL STATEMENTS COMPRISING CUSTOMER RESTITUTION IN FORM OF BALANCE REDUCTIONS AND CASH SETTLEMENTS OF £127.1M, OTHER ESTIMATED COSTS AND PROVISIONS OF £43.0M AND A FINE LEVIED BY FCA OF JUST UNDER £2.0M.​.‍FULLY-UNDERWRITTEN RIGHTS ISSUE LAUNCHED TO RAISE APPROXIMATELY £300M NET PROCEEDS (GROSS PROCEEDS OF £331M LESS EXPENSES OF £31M)​.FY ‍ADJUSTED PROFIT BEFORE TAX IN 2017 REDUCED BY 67.3% TO £109.1M​.‍FY STATUTORY LOSS BEFORE TAX REDUCED BY 135.8% TO £123.0M​.‍GROUP'S COMMON EQUITY TIER (CET) 1 RATIO OF 14.5% AT 31 DECEMBER 2017 (2016: 21.9%) REFLECTS FULL PROVISION FOR ESTIMATED COSTS OF FCA INVESTIGATIONS​.‍INTERIM DIVIDEND WAS WITHDRAWN IN AUGUST 2017 (2016: 43.2P) AND NO FINAL DIVIDEND IS PROPOSED IN RESPECT OF 2017​.‍HOME CREDIT RECOVERY PLAN IS ON-TRACK AND GROUP'S REGULATORY AGENDA FOCUSED ON CUSTOMER FIRST WILL UNDERPIN DELIVERY OF SUSTAINABLE GROWTH.‍VANQUIS BANK WILL BE WORKING WITH FCA ON A PLAN TO RESUME SALES OF ROP TO NEW CUSTOMERS​.  Full Article

BRIEF-‍Stuart Sinclair appointed interim chairman of Provident Financial ​
Friday, 2 Feb 2018 09:12am EST 

Removes typo in headline, clarifies Sinclair appointed to Provident not Lloyds:LLOYDS BANKING GROUP PLC - ‍STUART SINCLAIR, AN INDEPENDENT NON-EXECUTIVE DIRECTOR OF LLOYDS, WILL BE APPOINTED INTERIM CHAIRMAN OF PROVIDENT FINANCIAL (NOT LLOYDS)​.LLOYDS BANKING GROUP PLC - ‍ SINCLAIR WILL STEP DOWN FROM HIS POSITION AS SENIOR INDEPENDENT DIRECTOR OF PROVIDENT FINANCIAL PLC WITH IMMEDIATE EFFECT​.  Full Article

Lloyds Banking Group Says ‍Stuart Sinclair Will Be Appointed Interim Chairman​
Friday, 2 Feb 2018 09:00am EST 

Feb 2 (Reuters) - Lloyds Banking Group Plc ::‍STUART SINCLAIR, AN INDEPENDENT NON-EXECUTIVE DIRECTOR OF COMPANY, WILL BE APPOINTED INTERIM CHAIRMAN​.SINCLAIR WILL STEP DOWN FROM HIS POSITION AS SENIOR INDEPENDENT DIRECTOR OF PROVIDENT FINANCIAL PLC WITH IMMEDIATE EFFECT​.  Full Article

Provident Financial Appoints Malcolm Le May As Group CEO
Friday, 2 Feb 2018 02:00am EST 

Feb 2 (Reuters) - Provident Financial Plc ::DIRECTORATE CHANGE.APPOINTS MALCOLM LE MAY AS GROUP CHIEF EXECUTIVE OFFICER.ANNOUNCES APPOINTMENT OF MALCOLM LE MAY AS GROUP CHIEF EXECUTIVE OFFICER, WITH IMMEDIATE EFFECT.THIS FOLLOWS A BOARD PROCESS LED BY STUART SINCLAIR OVER RECENT.BELIEVES THAT MALCOLM LE MAY IS AN OUTSTANDING CANDIDATE FOR ROLE, GIVEN HIS EXISTING KNOWLEDGE OF GROUP.HOME CREDIT CONTINUES TO MAKE GOOD OPERATIONAL PROGRESS.AND DISCUSSIONS CONTINUE WITH FCA IN RELATION TO VANQUIS BANK AND MONEYBARN INVESTIGATIONS.CHRIS SWEENEY, MD VANQUIS BANK, WILL CONTINUE TO FOCUS ON LEADERSHIP OF VANQUIS BANK AND SUCCESSFUL RESOLUTION OF ROP.BOARD INTENDS TO APPOINT SWEENY AS DEPUTY GROUP CHIEF EXECUTIVE OFFICER IN ADDITION TO HIS VANQUIS BANK ROLE.ANNOUNCES PERMANENT APPOINTMENT OF CHRIS GILLESPIE, MD CONSUMER CREDIT DIVISION.APPOINTMENT OF STEVE GRIGG, AS INTERIM GROUP CHIEF INFORMATION & TECHNOLOGY OFFICER, TO DEFINE GROUP'S LONG-TERM IT ARCHITECTURE.HAS INSTIGATED A PROCESS TO APPOINT A NEW EXTERNAL CHAIRMAN AS WELL AS TWO ADDITIONAL NON-EXECUTIVE DIRECTORS AS SOON AS PRACTICABLE.APPOINTMENT OF STUART SINCLAIR AS INTERIM CHAIRMAN, WITH STUART MOVING TO THIS ROLE FROM THAT OF SENIOR INDEPENDENT DIRECTOR.  Full Article

Provident Financial Sees CCD FY Pre-Exceptional Loss Of About 120 Mln Pounds
Tuesday, 16 Jan 2018 02:00am EST 

Jan 16 (Reuters) - Provident Financial Plc ::CCD IS EXPECTED TO REPORT A FY PRE-EXCEPTIONAL LOSS OF C.£120M WHICH IS AT UPPER END OF GUIDANCE PROVIDED IN AUGUST 2017 .TRADING STATEMENT.VANQUIS BANK AND MONEYBARN HAVE BOTH TRADED SATISFACTORILY THROUGH FINAL QUARTER OF YEAR.VANQUIS BANK AND MONEYBARN HAVE BOTH COMMENCED DIALOGUE WITH FINANCIAL CONDUCT AUTHORITY (FCA).HOME CREDIT BUSINESS IS ANNOUNCING A PROPOSED RATIONALISATION OF ITS CENTRAL SUPPORT FUNCTIONS WHICH IS SUBJECT TO WORKFORCE CONSULTATION.  Full Article

Non-Standard Finance Net Loan Book, Customer Numbers Helped By New Agents Added
Monday, 15 Jan 2018 02:00am EST 

Jan 15 (Reuters) - Non-Standard Finance Plc ::NON-STANDARD FINANCE PLC - AT 31 DECEMBER 2017 NET LOAN BOOK HAD REACHED £148.5M (2016: £122.4M), AN INCREASE OF 21% VERSUS PRIOR YEAR.NON-STANDARD FINANCE PLC - REMAIN ON COURSE TO OPEN A FURTHER 12 NEW LOCATIONS DURING FIRST HALF OF 2018, INCREASING OUR NETWORK TO 65 BRANCHES.NON-STANDARD FINANCE PLC - AT LOANS AT HOME, VALUE OF OUR NET LOAN BOOK AT 31 DECEMBER 2017 WAS UP BY 53% TO £51.2M (2016: £33.4M).NON-STANDARD FINANCE PLC -NET LOAN BOOK DRIVEN IN LARGE PART BY ADDITION OF 442 NEW AGENTS THAT JOINED NETWORK DURING YEAR.NON-STANDARD FINANCE PLC - ALSO HELPED TO DRIVE CUSTOMER NUMBERS THAT REACHED 104,100 AT 31 DECEMBER 2017 (2016: 93,600).  Full Article

BRIEF-Provident Financial Says Subscribers For 3.9 Mln Shares At 665 Pence/Shr

* CONFIRMS BARCLAYS, J.P. MORGAN SECURITIES PROCURED SUBSCRIBERS FOR 3.9 MILLION SHARES, OR 3.7 PERCENT OF NEW SHARES, AT 665 PENCEPER SHARE Source text for Eikon: Further company coverage: