Recent Insider Transactions • Jun 12
Founder & MD recently bought AU$383k worth of stock On the 10th of June, Keith John bought around 600k shares on-market at roughly AU$0.64 per share. This transaction amounted to 3.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Keith's only on-market trade for the last 12 months. Recent Insider Transactions • Mar 08
Independent Non-Executive Chairman recently bought AU$74k worth of stock On the 5th of March, Stephen Targett bought around 100k shares on-market at roughly AU$0.74 per share. This transaction amounted to 47% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Stephen's only on-market trade for the last 12 months. Major Estimate Revision • Mar 06
Consensus EPS estimates increase by 10% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from AU$0.123 to AU$0.136. Revenue forecast steady at AU$97.4m. Net income forecast to grow 67% next year vs 8.1% growth forecast for Diversified Financial industry in Australia. Consensus price target up from AU$1.08 to AU$1.16. Share price was steady at AU$0.72 over the past week. Major Estimate Revision • Jan 24
Consensus EPS estimates increase by 19% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from AU$0.108 to AU$0.128. Revenue forecast steady at AU$101.8m. Net income forecast to grow 185% next year vs 26% growth forecast for Diversified Financial industry in Australia. Consensus price target of AU$0.97 unchanged from last update. Share price was steady at AU$0.70 over the past week. Announcement • Oct 30
Pioneer Credit Limited Announces Election of David Birrell Pioneer Credit Limited announced at its AGM held on October 30, 2025, election of David Birrell. Price Target Changed • Oct 29
Price target increased by 16% to AU$0.94 Up from AU$0.81, the current price target is an average from 2 analysts. New target price is 45% above last closing price of AU$0.65. Stock is up 11% over the past year. The company is forecast to post earnings per share of AU$0.12 for next year compared to AU$0.044 last year. New Risk • Aug 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$22m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-AU$22m free cash flow). Minor Risk Market cap is less than US$100m (AU$96.2m market cap, or US$62.2m). New Risk • Mar 08
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$22m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$22m free cash flow). Shareholders have been substantially diluted in the past year (43% increase in shares outstanding). Minor Risk Market cap is less than US$100m (AU$76.1m market cap, or US$48.1m). New Risk • Mar 02
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -AU$22m This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (43% increase in shares outstanding). Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$22m). Market cap is less than US$100m (AU$81.0m market cap, or US$50.2m). New Risk • Jan 22
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 43% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (43% increase in shares outstanding). Minor Risk Market cap is less than US$100m (AU$91.4m market cap, or US$57.3m). Announcement • Dec 04
Pioneer Credit Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million. Pioneer Credit Limited has completed a Follow-on Equity Offering in the amount of AUD 10 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 17,241,379
Price\Range: AUD 0.58
Discount Per Security: AUD 0.0174
Transaction Features: Subsequent Direct Listing Announcement • Oct 04
Pioneer Credit Limited Announces Resignation of Suzan Pervan as Non-Executive Director Pioneer Credit Limited announced that Suzan Pervan has tendered her resignation as a Non-Executive Director with effect from 3 October 2024. Ms. Pervan was to be re-elected as a director of the Company at the Company's upcoming Annual General Meeting (AGM) to be held on 31 October 2024 by live webcast. As a result of Suzan's resignation, Resolution 2 of the Company's Notice of AGM, `Re-election of Suzan Pervan', will be withdrawn. Announcement • Sep 04
Pioneer Credit Limited, Annual General Meeting, Oct 30, 2025 Pioneer Credit Limited, Annual General Meeting, Oct 30, 2025. New Risk • Sep 04
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$30m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-AU$30m free cash flow). Minor Risks Shareholders have been diluted in the past year (31% increase in shares outstanding). Market cap is less than US$100m (AU$71.3m market cap, or US$47.8m). Announcement • Sep 04
Pioneer Credit Limited to Report Fiscal Year 2025 Results on Aug 26, 2025 Pioneer Credit Limited announced that they will report fiscal year 2025 results on Aug 26, 2025 Major Estimate Revision • Aug 31
Consensus EPS estimates fall by 17% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from AU$0.09 to AU$0.075 per share. Revenue forecast steady at AU$101.5m. Net income forecast to grow 176% next year vs 28% growth forecast for Diversified Financial industry in Australia. Consensus price target of AU$0.80 unchanged from last update. Share price rose 12% to AU$0.55 over the past week. Announcement • Aug 30
Pioneer Credit Limited Announces Board Changes Pioneer Credit Limited confirmed the retirement of Peter Hall as Non-executive Director. Concurrently, the Company also announced the appointment of Andrew Whitechurch as Non-executive Director, following a rigorous selection process. Peter's decision to retire from the Board marks the conclusion of a distinguished tenure. Since joining the Board three years ago, Peter has provided exceptional leadership and deep expertise in financial services, driving significant contributions to the Company's strategic direction. Effective 2 September 2024, Andrew Whitechurch joins the Pioneer Board bringing over 25 years of leadership experience in financial services. His extensive banking experience includes senior executive roles at major banks in Australia and New Zealand, and responsibility for global strategy across banking operations in Australia, New Zealand the UK, Ireland, the US, and Asia. Andrew’s distinguished career features 20 years at National Australia Bank (NAB) including as a member of NAB’s and Bank of New Zealand’s Executive Committees, and 6 years on the Executive Committee at Bankwest where he was Executive General Manager of the Retail Bank. He currently serves as a nonexecutive director and Chair of Audit & Risk at both MercyCare Ltd. and the University of Notre Dame. Announcement • Aug 26
Pioneer Credit Limited to Report Fiscal Year 2024 Final Results on Aug 30, 2024 Pioneer Credit Limited announced that they will report fiscal year 2024 final results on Aug 30, 2024 Major Estimate Revision • Jul 02
Consensus EPS estimates increase from loss to AU$0.032 profit The consensus outlook for fiscal year 2024 has been updated. 2024 forecast for profit of -AU$0.021 instead of a loss of AU$0.032 per share previously. Revenue forecast unchanged at AU$85.1m. Diversified Financial industry in Australia expected to see average net income growth of 33% next year. Consensus price target of AU$0.80 unchanged from last update. Share price fell 5.1% to AU$0.47 over the past week. Announcement • Mar 23
Pioneer Credit Limited has completed a Follow-on Equity Offering in the amount of AUD 10.000001 million. Pioneer Credit Limited has completed a Follow-on Equity Offering in the amount of AUD 10.000001 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 22,222,224
Price\Range: AUD 0.45
Transaction Features: Subsequent Direct Listing New Risk • Mar 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Shareholders have been diluted in the past year (5.2% increase in shares outstanding). Market cap is less than US$100m (AU$42.0m market cap, or US$27.4m). New Risk • Nov 22
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.2% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (5.2% increase in shares outstanding). Market cap is less than US$100m (AU$39.2m market cap, or US$25.7m). New Risk • Nov 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 5.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (5.0% increase in shares outstanding). Market cap is less than US$100m (AU$39.7m market cap, or US$26.0m). New Risk • Sep 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 63% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (AU$37.3m market cap, or US$24.0m). Announcement • Aug 29
Pioneer Credit Limited Announces Board Changes Pioneer Credit Limited announced that on its return to profitability, and with forecast sustainable growth in the future, it has made changes to its Board to further strengthen the Company's governance, strategic development and oversight. Pioneer appointed Ms. Pauline Gately and Ms. Suzan Pervan as Independent Non-executive Directors of the Company, effective 29 August 2023. Pauline is an experienced Non-executive Director, with Board positions at Kalgoorlie Gold Mining Ltd. where she is Chair, at Elixinol Wellness Ltd. and Ardiden Ltd. where she chairs the Audit & Risk and Remuneration & Nomination Committees. Prior to her career as a Non-executive Director, Pauline spent 20 years in senior roles in investment banking across investment strategy, economic research and funds management, predominantly across Asia, including with Citibank, BNP, Merrill Lynch and Deutsche Securities. Pauline is a member and Graduate of the Australian Institute of Company Directors (GAICD) and holds a BA Hons Economics from University of Strathclyde and Graduate Diploma in Law and Financial Study: Accounting from University of Glasgow. Suzan Pervan is an experienced accounting professional, with nine years at Ernst & Young in Australia and five years internationally, including with PwC. In 1998 she co-founded the highly regarded Perth-based accountancy firm, Gooding Pervan until her retirement from the firm in 2010. Suzan was previously a director of United Credit Union. Suzan is a member of the Australian Institute of Company Directors and Chartered Accountants Australian & New Zealand and holds a BBus from Curtin University. With these new appointments to the Board, Michelle d'Almeida has provided her resignation having overseen the Company's technology transformation strategy, which is now being implemented. New Risk • Aug 29
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Market cap is less than US$100m (AU$35.7m market cap, or US$23.0m). New Risk • Aug 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Less than 1 year of cash runway based on current free cash flow (-AU$59m). Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (AU$31.9m market cap, or US$20.4m). Announcement • Aug 10
Pioneer Credit Limited to Report Fiscal Year 2023 Results on Aug 28, 2023 Pioneer Credit Limited announced that they will report fiscal year 2023 results on Aug 28, 2023 Announcement • Jul 04
Pioneer Credit Limited Announces Executive Changes Pioneer Credit Limited announced the appointment of Mr. Ian Brunette as Chief Information Officer (CIO). Ian has a significant track record of successfully leading organisations through complex transformational change as well as managing large scale IT application and infrastructure operations. His previous positions include Global Director Business Readiness for Tronox, Head of IT Infrastructure and Operations Manager with HBF and Head of Platform Operations and Infrastructure with Bankwest. He is currently a non executive director of Chorus. Mr. Brunette has commenced in his role and replaces Joe Terribile who departed the Company on 30 June 2023. Recent Insider Transactions • Mar 22
Founder recently bought AU$113k worth of stock On the 17th of March, Keith John bought around 350k shares on-market at roughly AU$0.32 per share. This transaction amounted to 3.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Keith has been a buyer over the last 12 months, purchasing a net total of AU$209k worth in shares. Announcement • Jan 27
Pioneer Credit Limited to Report First Half, 2023 Results on Feb 16, 2023 Pioneer Credit Limited announced that they will report first half, 2023 results on Feb 16, 2023 Announcement • Dec 05
Pioneer Credit Limited Announces Management Changes Following a record first quarter performance at Pioneer Credit Limited and an expected return to profitability in FY23, the Company announces changes to its Board of Directors, as part of its ongoing Board renewal process. In line with the succession plans of the Company, long-standing Chairman, Michael Smith, will retire from the Board on 31 December 2022. Non-executive Director Steve Targett, who joined the Board in June 2021 has been appointed as Chairman-elect, and will assume the Chair from Michael's resignation. Steve had a distinguished career in banking and financial services, including seven years running the Wholesale Banking Divisions of NAB, Lloyds Bank and ANZ, before retiring from his executive career in 2018. He is Chair of P&N Bank and his previous directorships include Lloyds Bank in the UK, National Australia Group Europe, National Bank of New Zealand, International Swaps and Derivatives Association and Cuscal. The current Chair of the Audit and Risk Management Committee (`ARMC'), Andrea Hall, will resign effective from the release of the Company's half year accounts, scheduled for 24 February 2023. Following this, Non Executive Director, Peter Hall, who joined the Board in 11 January 2021, will become Chair of the ARMC. Peter is an experienced director who had a significant executive career in financial services, with specific expertise in credit risk, including five years as Managing Director of Genworth Financial Australia and New Zealand and five years as Managing Director at GE Mortgage Insurance Australia and New Zealand. Peter recently completed a 6 year tenure as a Non Executive Director and Chair of Risk and Compliance and Credit Committees at BNK Banking Corporation Limited.Michael Smith, who has chaired the Company since its initial public offering in 2014 reflected onhis extraordinary journey at Pioneer. Recent Insider Transactions • Sep 14
Founder recently bought AU$52k worth of stock On the 12th of September, Keith John bought around 135k shares on-market at roughly AU$0.38 per share. This transaction amounted to 1.2% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Keith has been a buyer over the last 12 months, purchasing a net total of AU$97k worth in shares. Announcement • May 26
Pioneer Credit Limited (ASX:PNC) completed the acquisition of Portfolio. Pioneer Credit Limited (ASX:PNC) agreed to acquire Portfolio for AUD 38.5 million on March 9, 2022. The equity raise will fund part of the purchase price of the portfolio, with an additional AUD 28.5m to be provided under an increased senior debt facility with the Company’s funders.
Pioneer Credit Limited (ASX:PNC) completed the acquisition of Portfolio on May 25, 2022. Price Target Changed • Apr 27
Price target decreased to AU$1.64 Down from AU$2.56, the current price target is provided by 1 analyst. New target price is 231% above last closing price of AU$0.49. Stock is down 28% over the past year. The company is forecast to post earnings per share of AU$0.00024 next year compared to a net loss per share of AU$0.30 last year. Announcement • Mar 10
Pioneer Credit Limited (ASX:PNC) agreed to acquire Portfolio for AUD 38.5 million on March 9, 2022. Pioneer Credit Limited (ASX:PNC) agreed to acquire Portfolio for AUD 38.5 million on March 9, 2022. The equity raise will fund part of the purchase price of the portfolio, with an additional AUD 28.5m to be provided under an increased senior debt facility with the Company’s funders. Executive Departure • Jun 14
Independent Non-Executive Director Ann Robinson has left the company On the 7th of June, Ann Robinson's tenure as Independent Non-Executive Director ended after 3.3 years in the role. As of March 2021, Ann still personally held only 15.00k shares (AU$5.7k worth at the time). Ann is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 5.67 years. Recent Insider Transactions • Apr 09
Founder recently bought AU$109k worth of stock On the 1st of April, Keith John bought around 219k shares on-market at roughly AU$0.50 per share. In the last 3 months, they made an even bigger purchase worth AU$137k. Keith has been a buyer over the last 12 months, purchasing a net total of AU$246k worth in shares. Recent Insider Transactions • Apr 02
Founder recently bought AU$137k worth of stock On the 29th of March, Keith John bought around 281k shares on-market at roughly AU$0.49 per share. This was the largest purchase by an insider in the last 3 months. This was Keith's only on-market trade for the last 12 months. Announcement • Jan 11
Pioneer Credit Limited Appoints Peter Hall as Independent Non Executive Director Pioneer Credit Limited announced the appointment of Mr. Peter Hall as an independent Non-Executive Director. Mr. Hall is an experienced non-executive director and brings significant career experience across financial services, with specific expertise in credit risk in Australia, including five years with Genworth Financial Australia and New Zealand (Genworth), initial y as its Managing Director and later as Country Executive, a position he retired from in 2009. Announcement • Sep 25
Banksia Management Pty Ltd and BC Fund II Pty Ltd sold 0.29% stake in Pioneer Credit Limited (ASX:PNC) for AUD 0.29 million. Banksia Management Pty Ltd and BC Fund II Pty Ltd sold 0.29% stake in Pioneer Credit Limited (ASX:PNC) for AUD 0.29 million on April 6, 2017. As per terms, Banksia Management Pty Ltd and BC Fund II Pty Ltd respectively sold 0.11 million and 0.39 million shares and post completion don’t hold any stake in Pioneer Credit Limited. Bell Potter Securities Limited acted as financial advisor for Pioneer Credit Limited.
Banksia Management Pty Ltd and BC Fund II Pty Ltd completed the sale of 0.29% stake in Pioneer Credit Limited (ASX:PNC) on April 6, 2017. 
