The_Marin
20 Nov 2019
Ramsdens in trouble with FCA? Yes, I saw that. The news was good enough for me and I promptly bought back in around 9am, fortunately, just under my selling price. I was well aware that shares could bounce back quick if they issued a reassuring statement, which they did, but they would have continued to fall if they had not. Prior to the H&T issue, it looked like they were heading towards the 220 mark going into results and don’t see why they don’t push that way again as long as markets remain stable.
TX2
20 Nov 2019
Ramsdens in trouble with FCA? The RNS issued by Ramsdens this AM confirms the information I posted yesterday namely that Ramsdens does not offer and has never offered high interest short term unsecured loans (ie “Pay Day†loans) of the type covered by FSA investigation and specifically into H&T. I see the share price has largely recovered.For the record I consider the price with a forward PE of around 10 and yield approaching 5% is about right and I continue to hold.
The_Marin
19 Nov 2019
Ramsdens in trouble with FCA? Did just that, reluctantly sold yesterday at 197 breaking even but it was one of my stocks that was looking like a strong bet to do well. One of my rules is to sell on legal disputes and I was disciplined enough to follow that through. It could back fire on me quick enough if they can convince the market, in any way at all, this will not affect them but I doubt it. I would expect to see some kind of company response in a day or so but if not or the news is bad then the shares could fall towards 150 mark the way the markets reacted today.
TX2
19 Nov 2019
Ramsdens in trouble with FCA? All I can say to you is if you are unhappy with how a company in which you are invested in and/or thinking of investing in is conducting its business,or you think you are taking too great a actual/potential risk DO NOT invest in it.
The_Marin
19 Nov 2019
Ramsdens in trouble with FCA? Then why has the company not said so. The company needs to state that it see’s no issues with any legal regulations that it operates. I would imagine when an FCA enquiry starts, it will go through all of a companies services it provides and not just one segment, a can of worms comes to mind. Who’s to say that the enquiry will not uncover more malpractice from H&T which could snowball onto Ramsdens. I suspect the share price may well continue to fall, probably to the low 180’s, until there is clarity from the company. This will also put a big cloud over December results and the company may have to retain additional cash, affecting the dividend, to cover any potential penalties.
TX2
19 Nov 2019
Ramsdens in trouble with FCA? As I have pointed out Ramsdens don’t offer short term unsecured loans of the type offered by H&T and indeed many other lenders.Only Pawn loans which are covered by specific legal regulations.They are not covered by the FCA enquiry. The log book loans,which are secured loans, are approved, arranged, offered,run & financed by an unconnected company to which Ramsdens acts as an introducing agent only.
The_Marin
19 Nov 2019
Ramsdens in trouble with FCA? The company will know the shares fell on H&T FCA investigation and because the company has not responded then you have to assume they will have similar issues to address. Its a shame because the company was doing really well but profits could be wiped out with fines and money to be returned. The company needs to clarify there position ASAP.
TX2
19 Nov 2019
Ramsdens in trouble with FCA? It is H&T that is being investigated by FCA not H&L:just to clarify in case anyone thinks we are talking about the stockbroker often referred to as HL! With regard to Ramsdens,in which I am a shareholder,all the loans it does on its own account are secured Pawn Broking Loans on which the liability to the borrower cannot exceed the value of the item pledged.In other words if the customer does not redeem the item at the end of term the Pawn broker cannot claim additional amounts even if the pledged items value on sale is less than the amount advanced should the customer decide not to redeem.Any excess value of the pledged item has to be returned to customer under pawn brokering rules when the pledged item is sold.In other words there is not an open ended liability to interest payments as you get with most loans and can be particularly onerous with very high interest loans if you fail to pay promptly.Ramsdens loans do not fall in the category being investigated. The log book loans are done on an agency basis from a third party lender/provider with whom the contract is with on which Ramsdens gets a commission and I agree with you that the rates are high.They are a tiny part of Ramsdens business.About a third of Ramsdens business comes from Pawn brokering activities the other two thirds from new & secondhand Jewellery sales,gold dealing and foreign currency trading. I think they would probably be best to ditch the agency log book loan side,I think it has more problems than it is worth.
The_Marin
18 Nov 2019
Ramsdens in trouble with FCA? log book loans sound really dodgy, 120% per annum and 442% apr, if that’s not loan sharking I don’t know what is.
The_Marin
18 Nov 2019
Ramsdens in trouble with FCA? Could be real bad news if they have been lending the same way as H&L.
Will
21 Sep 2019
A&B Pawnbroker ceases trading BBC News: A&B pawnbrokers ceases trading Good news for a competitor such as Ramsdens or bad news for the pawnbroking business overall?
TX2
12 Jun 2019
18 more shops! The Middlesboro’ based Pawn Broker,Jeweller/Gold dealer,FX seller seems to have produced modestly improved results in a tough retail market but is perhaps" running on the spot" to maintain them by increasing its branch network. However its very strong asset & cash rich balance sheet and reasonable and increasing divi makes the shares worth holding by myself but I think the share price @ around 170p and PE of circa 10 is about right in the present market until we see signs of better growth for new buyers.
piw
14 May 2019
Video: RFX CEO, Peter Keynon interviewed by James Lynch, Downing Fund Manager A piworld video interview, with Peter Keynon, CEO, Ramsdens Holdings (LON:RFX) interviewed by James Lynch, Fund Manger of Downing Strategic Micro-Cap Trust. Peter discusses the business areas, which makes the company very defensive. Their strategy for growth, both short term and long term. The cash generation, dividends and capital allocation. James summarises why Downing think it’s an interesting company. It’s shot at the Middlesbrough branch, so you get a feel of a Ramsdens branch. Enjoy! (It’s about 20 mins.) piworld.co.uk Interview with Peter Kenyon, CEO, Ramsdens by James Lynch, Fund Manager, Downing Strategic Micro-Cap Investment Trust Ramsdens Holdings PLC (Ramsdens) is a financial services provider and retailer. The Compa
shareordie
04 Mar 2019
18 more shops! Looks like a bolt on acquisition, increase in customer base etc.
shareordie
29 Nov 2018
RNS director sells Had a quick look, business seems to be healthy and able to expand, staycation caused by hot UK weather probably a one off, so all is well. Nice dividend. What’s not to like.
