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63k sell that ain’t good who’s dumping
Excellent posts and analysis from both Alocasia and euan06 - thanks guys. I think the drop is just market sentiment. I currently hold 8 AIM companies none of which are yet profitable but all with strong potential (I've been saying that for a few years mind!) 5 have dropped today and none risen. Even at this level the MC is over 100Mill almost 10 times last years revenue. Not a worry in my book.
Yes very strange, big news!
Why drop in share price after todays announcement?????
I hope you are right Alocasia, I hope we can keep going as the fundamentals here are very strong. I just hope our largest shareholders have the same aspiration as an offer around the mark we discussed will be very tempting for them. Very good update from Scientific Games!
You may be right, although he owns less than 10% of the company and could easily be out-voted if the other major shareholders were against. I just feel that after all this time and effort to get where we are now, why wouldn't he hang on one more year to reap the full rewards. Why cash in the GMR chips now when we've just got a winning streak going with the US and with Canada to follow. As you say, whichever way it goes, it feels like we're going to be sitting pretty if we just keep holding and let the chips fall where they will.
Hi Alocasia, yes had a skim through the A of A and nothing jumps out, so as you say just a tidy up. The 61p was back of the fag packet figures on a valuation of £175m, which I do believe is attainable at circa shares in issue 288m, so you are right an approx of 60p give or take a few pence probably makes more sense. Totally agree re Canada and I would be happy to wait and would rather we don’t sell, I just feel having a Chairman and largest shareholder at 75 years of age it is inevitable unfortunately.
Hi euan, Just had a look at the new A of A and I can't see anything much of interest at all. Changes been made to virtually every page but unless I've missed something it looks more like a tidying up exercise to bring it up to date rather than any changes of significance. Of course, I'm no expert, so could have missed some nuance in the wording and I only skimmed through it.
You mentioned you think GMR will be sold before too long and I'm just interested to know how you arrived at 61p (only because it seems so precise, rather than saying around 60p) and if you have any possible suitors in mind. Personally, I'd like to see what the market thinks we're worth once we've got a full year of NJ/Mich/Penn revenues under our belt (or at least six months' worth). Until we have those figures in (and the other European markets) I think it's hard to determine true value. Not to mention the Canadian market potentially coming online before the year end. That could be a biggy too.
Hi Alocasia, I could be wrong but I think it will be in regard to the US listing. Odd the number of sells today when the short term future roadmap is nothing but good with either a sale to a big US operator or they decide not to sell and embark on growing organically in the US. I am absolutely fine with both, but as per my previous message, I do feel a sale is more likely. That said, I could be totally wrong and with day I have had across my portfolio this is very likely!
Yes I thought either US listing or the Gamesys loan as they tried once before to get a resolution passed for conversion on a non pre emptive basis. Not sure if that would require amendment to the A of A.
It will be to do with the US listing. Just governance, actually a good thing. I still think GMR will be sold in the not too distant future at around 61p a share.
I notice in today's RNS there is mention of a GM to amend the Articles of Association. Could be significant.