Provident Financial PLC (PFG.L)
23 May 2018
Wed, May 9 2018
May 9 British sub-prime lender Provident Financial said on Wednesday its recovery plans would deliver 2018 results in line with internal plans while its Vanquis bank unit reported profits ahead of earlier forecasts.
May 9 British sub-prime lender Provident Financial said on Wednesday its recovery plans were on track and would deliver 2018 results in line with internal plans.
* 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:
* ANNOUNCE THAT 17 FOR 24 RIGHTS ISSUE OF 105 MILLION SHARES AT 20 8 /11 PENCE PER SHARE CLOSED FOR ACCEPTANCES
* WOODFORD INVESTMENT MANAGEMENT LTD INCREASES STAKE IN PROVIDENT FINANCIAL PLC TO 24.41 PERCENT FROM 23.03 PERCENT Source text for Eikon: Further company coverage:
LONDON, Feb 27 Hedge funds were caught out by a big short in Provident Financial 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.
* Settles Vanquis Bank probe with FCA (Adds details, CEO comments, share movement)
* ANNOUNCES A FULLY UNDERWRITTEN RIGHTS ISSUE ( "RIGHTS ISSUE") TO RAISE GROSS PROCEEDS OF APPROXIMATELY £331 MILLION
* SETTLEMENT AGREED WITH FINANCIAL CONDUCT AUTHORITY (FCA) ON VANQUIS BANK'S REPAYMENT OPTION PLAN (ROP) INVESTIGATION
Feb 27 Troubled Provident Financial said it would raise gross proceeds of about 331 million pounds via a rights issue, as it looks to meet the costs of resolving an investigation by Britain's financial watchdog and restore its capital position.
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