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There are the numbers laid out for all to see. Great to see the business finally back on track especially with the takeover distractions. Management very bullish. Strong start to 2022. Buy, plenty upside from here.
As I understand it, the company could delay publication of its results for six months beyond its year end without risking penalty. That would take it to 30/6/22. If takeover negotiations were ongoing, one might expect an RNS to that effect rather than "figures on Thursday". If on the other hand negotiations have been concluded, there will be even more news on (or before) Thursday and today's announcement makes good sense. Here's hoping!.
results out on Thursday at 7am.. webcast for investors and analysts at 9am. with management' fingers crossed.
albula just bought another 500,000. thats 16.5million now.
Following on from that article I have been wondering what could be defined as 'shortly' with respect to a fresh potential bid for the company being made. I note that management joined the suitor group around 20th Feb so they have been on board over 2 weeks. I anticipate the formulation of the projected pay off might take another week or so, so perhaps a bid might be made by the end of the month? As someone posted previously, I think results are due to be published and might have been pushed back, so it could be fairly imminent. In order to keep the newer investors happy who bought in after the initial 680p bid, I suspect the offer could be in the region of 800p. Anyone else got any thoughts? DYOR
Based on Financial Times :
Mr. Hall and Mr. Weizer "backed by TTB and two large financial institutions in the UK and US, said they plan to submit a higher offer than Aristocrat’s to the Playtech board “shortly”. "...
Mr. Hall claims he does not have relations with the HK crew. If this turns out to be true, the management buyout price must provide some incentive to all shareholders including the fresh HK ones and "UK-based tier one institutions, certain former employees of the company including certain people that are still involved with the company who believed that the Aristocrat offer was too low." This section might imply to Mr. Hall , Mr. Kivisik and others.
The Hong Kong crew bought their share in the range of 7.20-7.75. Mostly around 7.30-7.50.. and they might expect premium.. So, make your bets, gentlemen!
The open version of the FT story can be found here https://trendfool.com/business/playtech-chiefs-accuse-aristocrat-of-misinformation-campaign-in-bid-battle/
https://www.ft.com/content/58555630-ce2d-4fe5-9c79-7704de0ec94c
Cash bid in excess of 680p to be made shortly...make of that what you will
Share price just jumped 5% in the blink of an eye
I’ve just been told by Playtech’s PR people that the final results will not now be released next Wednesday but that the new date “will be confirmed soon”. If you are a “glass half full” person you may infer that there remains every prospect of a positive end to takeover negotiations, to be announced with the year end figures!
Does beg the question why the hell did this sink below 600p - they bought that last 1m tranche at 640 odd.
I see Albula are increasing their holding with another million purchase. they are up to 13.5 million now. They sure do mean business!
invest inn. yesterday i trolled thru, current stuff. i'm pretty sure it was in yahoo finance where it listed the current board of directors of playtech. he is definitely a current . non exec. director. i wanted to know ,cos they were going to ringfence the board to check the proposed offer. if its not yahoo then i can,t remember who ,cos i spent some time on it . obviously a lot of time on my hands but in my defense i have a lot of skin in this game.
Surely a resolution will be reached by the time of full year results next month…..?
Hi all, my first post here.
Why would it raise a red flag for Tom Hall's purchase? he's not a current NED as far as I can see from the list of current board members.
just announced a replacement RNS today for thomas alexej hall amending yesterday,s disclosure dates. If this does not raise any red flags i do not know what will. Albula the maurisian shell company bought another 1,100,000 shares on someone's behalf. Massive holding for an unannounced player. If the offer is less than £7.50 there will be fireworks. This is turning into a real poker game with no rules. Wonder what Aristocrat are thinking?
Didnt even fill the form out properly! So we can't see the price paid. Also they have been sat on the form since 14th Feb, you are correct it does stink! At least we know that when they bid its getting accepted. I assume they will bid the same amount as the failed bidder did as well 680p
only just disclosed today on RNS .Mr . thomas alexej hall non exec director of ptec bought 4.2 million shares on 31 january. through a caymen island shell company. surely a clear case of insider trading ? this all really stinks and shareholders left on the sidelines. thought the big pension funds would have highlighted this to the takeover panel.
What a mess. Conflict of interest is inevitable for Mr Weizer. Going from the seller´s side to the buyer's side in the middle of the game. Not ethical, not professional, and leaving no firepower for bargaining for PTEC. He must be well motivated to act like that :)
IMHO this also means that the deal is actually done. Mor just cannot continue managing the company as usual anymore after this betrayal.
Leaving emotions aside I tend to believe the offer will be in the range of 7.4-7.8 to somewhat justify all this in the eyes of the shareholders.
I THINK A LOT OF THE FUND AND PENSION MANAGERS MAY BE WARY OF A LOW BALL OFFER NOW THAT THE SUM OF PARTS OF THE COMPANY HAS BEEN EXPOSED,ESPECIALLY IF MANAGMENT HAS GOT INTO BED WITH THE STALKERS. I THINK THIS HAS A CERTAIN NASTY SMELL ABOUT IT AND COULD BE VOTED DOWN IF LESS THAN SAY £7.50 PER SHARE.
I suspect the TT Bond backers might have wanted Weiser along for continuity and likewise, Hall is the linchpin to the HK guys (who can now magically overcome the act in concert challenge) , I think the ducks are lining up nicely
So looks like we should beat the 680p on any offer and now CEO is getting into bed with TTBond bidders
Update re: possible offer
On 3 February 2022, the Board of Playtech (the "Board") announced that it had consented to a request from TTB Partners Limited on behalf of an investor group to be formed and advised by it ("TTB") to release TTB from its restrictions under Rule 2.8 of the Code to allow a possible offer for the Company to be considered. TTB indicated to the Board in a letter dated 3 February 2022 that it expects any offer, if made, will be at a higher value than the recommended cash acquisition by Aristocrat Leisure Limited of 680p per share, announced on 17 October 2021.
Further to the recent media speculation, the Board announces that on 20 February 2022 it was notified by Mor Weizer, Director and Chief Executive Officer of Playtech, that he wishes to explore participating in the investor group formed and advised by TTB in considering a possible offer for the Company. Mr. Weizer and Thomas Hall, a former Director of Playtech, have approached TTB with their interest in participating in the investor group.
The Board will now form an independent committee consisting of the Playtech Directors excluding Mr. Weizer (the "Independent Committee") to consider all matters relating to any possible offer from TTB and any other M&A proposals Playtech receives. The Independent Committee is and will remain especially mindful of their obligations to Playtech stakeholders and the requirements of the Code.
albula bought another 1,000,000 shares yesterday
A Dr. Choi Chiu Fai Stanley has joined the fray and bought 2.99% of PTEC yesterday. He's H/K top poker player and also owns 13% of Air Asia. Albuba the shell co. they also use bought another 962,854 shares yesterday. Nobody is working in concert! What a joke....
That the directors/officers of Playtech have posted their holdings implies constructive discussion, at the very least, nearly a fortnight after a further bid was intimidated on 2/3/22.
Hi Stefano , not sure they have
I only noticed the disclosure with ... By a Party to an Offer on two RNS
1. TTS Bond- Gopher , just under 5% , but we knew they were working in concert from the origional announce post Aristocrats collapse,
I haven't observed where any of the other HK crew are using it
2. Ptec might-around current holdings and stock options
I am guessing the HK crew are for now maintaining plausible deniability:)