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Post by mrclondon on Dec 9, 2018 22:44:52 GMT
However, given the Telegraph's inaccurate and biased reporting on Lendy recently, this article is possibly spinning the story in the most negative manner they can get away with.
Accounts for y/e March 2018 are due to be filed at CH by the end of this month.
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elliotn
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Post by elliotn on Dec 10, 2018 1:35:30 GMT
Behind paywall, anyone able to copy here (maybe redacting VTG)?
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aju
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Post by aju on Dec 10, 2018 7:54:46 GMT
Behind paywall, anyone able to copy here (maybe redacting VTG)? i second this request.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Dec 10, 2018 8:41:09 GMT
Behind paywall, anyone able to copy here (maybe redacting VTG)? Posted it in Frank. Can't seem to post the link and it lost format in pasting.# Edit: admin has cleaned up formatting.
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Post by spareapennyor2 on Dec 10, 2018 9:07:05 GMT
register for free get to see a couple of items a week
Times also
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spiral
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Post by spiral on Dec 10, 2018 9:16:42 GMT
Posted it in Frank. Can't seem to post the link and it lost format in pasting. Any idea why to view the RS thread over there you need to be a member but can seem to access other threads as a guest?
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Dec 10, 2018 9:31:34 GMT
Posted it in Frank. Can't seem to post the link and it lost format in pasting. Any idea why to view the RS thread over there you need to be a member but can seem to access other threads as a guest? No idea, but I have the solution - join.
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Post by p2plender on Dec 10, 2018 10:20:25 GMT
Goes without saying, they need to bounce back from this if they're going to IPO though given state of market that's not for now.
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Post by propman on Dec 10, 2018 10:23:36 GMT
THis isn't news, RS has had less losses than other P2P entities. The issue will be what capital remains to cover the future.
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jlend
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Post by jlend on Dec 10, 2018 10:48:45 GMT
Just as background
The initial problems with vehicle trading group, vehicle stocking and adpod were communicated last year at the time of the fee free sellout option for all investors.
This is a quote from RS in October 2018 this year:
George Banco was acquired by Non-Standard Finance Plc in August 2017. All existing loans outstanding to RateSetter investors were repaid in full at that time.
• RateSetter acquired Vehicle Credit Limited (which makes loans to consumers to buy cars) and Vehicle Stocking Limited (which makes loans to motor dealerships to buy cars) in May 2017 and integrated the two businesses into RateSetter. The outstanding loans to VCL and VSL are repaying in line with the loan schedules.
• RateSetter is standing behind the repayments of the loan made to Adpod Limited until the loan is fully repaid. We recorded a goodwill impairment charge in our 2016/17 company accounts to reflect this.
Last year in December RS put a press release on their website about their 2016/17 accounts. Worth looking out to sell if they put something similar there this December
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Dec 10, 2018 13:16:17 GMT
Posted it in Frank. Can't seem to post the link and it lost format in pasting. Any idea why to view the RS thread over there you need to be a member but can seem to access other threads as a guest? The almighty power that be over there have now made said thread open to guests.
(PS not me before anyone gets excited, I view as a guest)
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cb25
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Post by cb25 on Dec 11, 2018 15:34:47 GMT
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reinvestor
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Post by reinvestor on Dec 18, 2018 9:41:38 GMT
Well the Telegraph weren't wrong! Accounts now available from Companies House.
I would call that set of figures shocking.
What baffles me is the statement they issued:
Last year they made a £14.5m loss. This year they have made a £27.4m loss.
Last year shareholders funds were £8.6m. This year shareholders funds are in DEFICIT to the tune of £5.7m
And that makes the company worth £261m?
Let's not forget, they aren't a "startup" anymore. They have now been around 8 years.
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aju
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Post by aju on Dec 18, 2018 10:23:23 GMT
Well the Telegraph weren't wrong! Accounts now available from Companies House.
I would call that set of figures shocking.
What baffles me is the statement they issued: Last year they made a £14.5m loss. This year they have made a £27.4m loss. Last year shareholders funds were £8.6m. This year shareholders funds are in DEFICIT to the tune of £5.7m
And that makes the company worth £261m?
Let's not forget, they aren't a "startup" anymore. They have now been around 8 years. oops, and me just having discovered the joy's of lending on RS too I wonder how that fairs with Zopa then?
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benaj
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Post by benaj on Dec 18, 2018 11:46:19 GMT
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