We spoke to new Sterling Energy CEO Tony Hawkins about the latest changes happening at the company. Watch the full video here.
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wtf not sure about the name lol
if there is great news in the morning then that buy is gonna look suspect lol
£100k buy! Is something afoot?
getting this sold off - Allows ESG to concentrate on and move forward with its core 'big earner'.
Top up time again I presume.
ESG proposed sale of eServeGlobal core business and name change announced today?.
Here’s an interview with John Conoley?, Executive Chairman who gives us a little narrative.
ESG signed a conditional sale and purchase agreement to sell the core ESG business & associated assets to Seamless Distribution Systems AB, leaving just HomeSend. Purchase prices is Eu2m.
The Times today -
"Networks International is set to be valued at as much as £2.3 billion when it floats in London this month (Simon Duke writes).
The Dubai-based company, which processes millions of payments a day in Africa and the Middle East, has priced its shares at between 395p and 465p. It will join the market on April 11, becoming the biggest listing of the year.
Uncertainties over Brexit have cast a pall over new listings. However, payment businesses continue to be in high demand because of the rise in ecommerce. Nexi, an Italian company, is listing in Milan this month.
Network International was founded in 1994. It made an underlying profit of $152 million last year.
Ron Kalifa, 57, its chairman, said that cash transactions accounted for only 3 per cent of sales in the company’s 60 markets, compared with half in Britain.
Mastercard is investing $300 million in the float. Warburg Pincus and General Atlantic, the private equity companies, own 49 per cent of Network and Emirates NBD, Dubai’s biggest bank, holds the other 51 per cent. Between them they will sell at least 25 per cent of the company."
Chairman's message sounds positive. Directors options exercisable at 9p.
mmmm lets hope so
Maybe MC just covering as many bases as poss and trying to second guess where and which tech will dominate
It certainly looks like someone has been spooked, although volume wasn't excessively high.
I'd be surprised if MC were jumping the HS ship bearing in mind it is supposed to be one of their three pillars, and they've supported it for around the last 5 years or so, and particularly in the last year with additional funds.
Also the NI IPO is a quite recent development, and it seems strange they would opportunistically give up Homesend in which they hold 65% for 10% of NI.
Lets see what tomorrow brings - maybe some commentary.
looks like we going to test 5.5
yep getting heavily sold off
some big dumping
Maybe linked to this news
Investors getting spooked and questioning Mastercards commitment to Send?
This is also interesting -
"Under the deal, Mastercard and Network International will also create a strategic partnership to drive adoption of digital payments in the Middle East and Africa. Network International has emerged as a leader in the Middle East in helping retailers accept cards as a payment method both in the physical world and online. The payment sector in the Middle East has been seeing brisk business in recent years as more people use digital payments to make purchases."
I guess this could benefit ESG if MC were able to direct some of the NI turnover via Mastercard Send.
Having said that there seems to have been quite some selling today, and a big 10% drop immediately prior to close!?!?
good for ESG?
Seems like Mastercard are trying to cover alot of bases
Mastercard, the payments company, is taking a big stake in Network International, the payments company servicing the Middle East.
According to a report in The Financial Times, Mastercard will take part in Network International’s initial public offering (IPO) in London in April by making a $300 million investment in the listing. It will amount to Mastercard purchasing 9.99 percent of Network International’s shares, reported The Financial Times.
feels like a traders share this alot of short term speculators gambling on the Mastercard take out making it very volatile
some can't hold longer than 2 mins before chasing another rainbow
they'll be back
Yes, it obviously is of some significance to the ESG board.
They possibly have the best insights here.
But whenever they do an RNS the shares always seem to go down, before recovering slowly in the weeks after.
FinnCap Director of Research Lorne Daniel explained:
“After missing out in the Earthport auction, Mastercard has bought Transfast. We see this as augmenting not replacing HomeSend. The Transfast acquisition will augment Mastercard’s well-defined and established strategy to dominate global payments with a range of solutions. Purchasing one of the technologies underlying Mastercard Send gives greater control, adding capacity as well as reach.”
Mastercard laying the groundwork before they buy the rest of Homesend from us
This gives the view from the house broker, FinnCap, which issued a note today:
not much thats why it was RNS R
only point is it shows Mastercards intent
and that ESG Homesend are praying Mastercard take them next
What was the point of that RSN?
Transfast is a network partner of HomeSend, offering reach and connectivity principally into Africa and Latin America, together with foreign exchange and ancillary services. Network relationships are a critical element of HomeSend's services and HomeSend continues to grow these partnerships through several regional network partners, such as Transfast, together with HomeSend's own direct connections, to deliver across multiple markets and channels.
We live in interesting times.
This must rank close to Gordon Brown selling off much of our gold ultra cheap.
The Times today -
"The purchase of Worldpay by Fidelity National Information Services for $43 billion makes it the largest merger in the electronic payments industry.
The deal will create the world’s largest electronic payments business by market value, linking banks and credit card companies with billions of consumers who are increasingly shunning cash.
Worldpay, formerly Streamline, was set up in 1989 as a subsidiary of National Westminster Bank. Natwest was bought by Royal Bank of Scotland in 2002 and the payments business was renamed RBS Worldpay. RBS then developed the business through acquisitions in Europe and America.
In 2010 the bank sold RBS Worldpay to Advent and Bain, the private equity firms, for about £2 billion, to comply with EU rules on state aid after its £45.5 billion government bailout during the financial crisis. The private equity firms floated Worldpay five years later at a valuation of about £5 billion. At the start of last year Advent and Bain sold Worldpay to Vantiv for £8 billion.
Worldpay, headquartered in Cincinnati, Ohio, processes about 40 billion transactions a year in 126 currencies. It has 3,700 employees around the world and reported revenue of $3.9 billion last year."
The Times today -
"A payments company that handles millions of transactions a day in Africa and the Middle East is lining up London’s biggest stock market float of the year.
Network International is expected to be valued at $3 billion when it goes public next month. The offering will eclipse the debut of DWF, the law firm, which achieved a valuation of £366 million at its flotation this week.
Network International was founded in 1994 and focuses on processing payments in Africa and the Middle East. It made an underlying profit of $152 million last year on revenues of $298 million. It processed 681 million transactions for more than 65,000 merchants.
Payments businesses are in demand among investors because of the rise in ecommerce and a fall in the use of cash.
Network International yesterday announced Ron Kalifa, 57, a former chief executive of Worldpay, as its chairman.