Pioneer Credit (ASX:PNC) confirmed that recent share price fluctuations have no legal or contractual implications for the company, according to a Thursday filing with the Australian bourse.
The clarification follows the sale of about 3.1 million shares on Wednesday and 1.8 million shares on Thursday, attributed to a family office reducing its stake due to unrelated financial pressures, the filing said.
Pioneer emphasized it has no financial covenants tied to its share price and remains financially strong, with ample cash reserves, steady cash flow, and access to funding to meet its near-term targets, the filing added.
The company reaffirmed its full fiscal year guidance of AU$90 million in purchase debt portfolio investments and at least AU$9 million in net profit after tax, with net profit for the fiscal year 2026 projected at AU$18 million.
Shares of the company rose 9% on market close.
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