PNC pioneer credit limited

Ann: Company Update and Appendix 4C, page-3

  1. 583 Posts.
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    Well I guess there is no additional bad news.

    The cash flow needs to be considered in parts as the purchase of the PDP's are included in 'Investing' whilst the liquidation/realisation of them is in Operations.

    Given that they won't be purchasing PDP's( to any extent) then you would expect that they will be overall cash flow positive next quarter. They have $13m of outgoings to cover. The collections have been about $26m per quarter so even if that halves due to all the concessions being given they will keep steady.

    They are certainly still alive and if they can secure ongoing financing there is a business there. And the PDP's available will probably increase and as they have mentioned will be at lower prices in this environment and circumstances (although the recoverability will no doubt also be less)

    Wait and see
 
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