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Proceeds now safely received - I got 459.12p per share! A terrific surplus over the original bid.
Happy with that, no trading allowed after today awaiting settlement before 15th August so took the money and run. Nice premium given the falling pound. Time to reinvest. GLA
Glad I held on - now at 445p to sell, some 10p above the original takeover level, and could be a fair bit more to come before the deadline as Brexit worries drag the pound down.
True that, did the same today at 440, effectively it's we're just doing a currency trade but I guess my cash can be utilised better elsewhere and I think the £ has hit current low anyway
Sold out yesterday, waiting for the US$ rate to make my holding worth more than the announced takeover price. Tempted to reinvest in $-based assets to try the same trick as we approach Brext / Not Brexit date on Oct 31st.
“The Royal Bank of Cyprus” ?
How can there be a “Royal” Bank of Cyprus, as they have no monarchy.
Investors Chronicle need to sack either the journalist, the editor, or the proof reader.
The Royal Bank of Cyprus has approved the proposed change in control of Safecharge Limited by Nuvei – the company acquiring it. The relevant condition to the acquisition has now been satisfied. Safecharge (SCH) has confirmed that the court hearing for the consideration and sanction of the takeover scheme document will take place in Guernsey on 31 July 2019. The last day of dealings in SafeCharge shares on Aim is expected to be 31 July 2019, and it’s intended that dealings in SafeCharge shares will be suspended on 1 August.
Approval obtained for takeover.
The only timetable stated is still "The Scheme is still expected to become Effective in this third quarter of 2019."
The GM/Court Meeting on the takeover is today (now in fact) so more news tomorrow or even before COP today. Takeover seems to be closing in Q3 (September)
Does anybody know when this closes?
Good morning Valcan998,
I too hold SCH and have held for a short period of time and I liked the growth & dividend, and this has surprised me, as it has been accepted too quickly.
The last line of your posting "I am holding till this closes" has be slightly baffled. What sort of time line do you anticipate before this deal is done.
1. Very good news - price is appropriate
2. Like others on here I would have preferred this to come later as the current growth and dividend has been great BUT perhaps the BOD can see issues in the future (technology, competition, market changes) we are not aware of.
3. I suspect there may be a counter offer - a big player would see value in having an alternative solution in their portfolio perhaps addressing the SME market they are currently missing and they would not want to lose this opportunity to another competitor.
I am holding till this closes.
Nice takeout price....
Where is my next fintech opportunity?
Had topped up here after Paysafe take out.
.....what is sagi going on to do?
Similar sentiment to others. A 20% pop is always nice. And obviously much more when compared to the 52W low. But it always felt like the latter was completely unjustified and commercially they were just getting into their stride, even if margin pressure was always worry. I guess with Sagi on board the odds of an Earthport type bidding fenzy is low. But one never knows. Perhaps someone else has their eye on it too. Payments is so hot right now and assets are being snapped up left and right. If there is a meaningful counterbid then even Sagi would not be able to ignore. Might as well hold this one to Scheme Completion...
There has always been talk that this would happen sooner or later, similar sentiment to you Rivaldo, I would of liked to of kept these long term, but its not to be, it does make me wonder about when the sp declined a few months back for no apparent reason, is it just the working of the market or something else well we will never know, not complaining though a decent result at the end of the day.
Plus the dividend. 7.22p approx.!
nice indeed, might as well hold onto these until deal closes as sellers atm losing out on about 3% eventual sale price and you can't get an interest rate to match that
We must have a similar portfolio, great news, happy with this. BOL
Nice - taken out at 436p :o))
Would have been preferable in some ways to keep long-term, but this is a decent premium. Given that Sagi has recommended the deal it's probably unlikely there will be a successful counter-bid
I had similar sentiments with my holding in EUSP, which was also taken over just the other day. I suspect the weakness of the pound has something to do with these overseas takeovers of UK-based companies.
"Does Safecharge International have a competitive edge?
Wed 9:01am by Ben Hobson
"Has Safecharge International (LON:SCH) got a moat?
When it comes to searching for companies with moats, some of the biggest clues actually lie in their financial statements. By looking at a small number of important ratios you can get an idea about the competitive strength and profit power in a business.
Here's what they are and why they are important - and how Safecharge International stacks up against them:
High rates of Free Cash Flow - the measure of a thriving company.
- A high ratio of free cash flow to sales can be a very positive sign. For Safecharge International, the figure is an impressive 15.3%.
High Return on Capital Employed - the measure of a company growing efficiently and profitably.
- A 5-year average ROCE of more than 12 percent is a pointer to strong efficiency. For Safecharge International, the figure is an eye-catching 14.6%.
High Return on Equity (compared to peers) - the measure of a company making good profits from its assets.
- Safecharge International has a 5-year average ROE of 15.6%.
High Operating Margins (compared to peers) - the measure of a company with pricing power
- Safecharge International has a 5-year average operating margin of 22.5%.
Some of the best quality stocks in the market have defensible models that can deliver high levels of shareholder returns over the long term. By analysing some key medium-term profitability and efficiency metrics, it's possible to start tracking them down. On this basis, it certainly appears that Safecharge International has some of the financial traits of an economic moat."
An extensive article on a new deal between SCH and WeChat Pay and Alipay for Chinese payment tools in the UK:
"High-end London shopping street embraces WeChat Pay in bid to attract Chinese shoppers
02 May 2019
Beauchamp Place, the once-famous street behind Harrods and home to the legendary San Lorenzo restaurant, is not the most likely scene for a retail revolution, but in a drive to attract more high-spending Chinese tourists, several shops are working together to roll out acceptance of WeChat Pay and AliPay.
Working with payment service company SafeCharge, four leading shops in the street – McKenna & Co, Lalage Beaumont, Grace Han and Gladwell Patterson – are all piloting simple technology that allows them to easily take payments from these leading Chinese payment tools.
In addition, the move to WeChatPay means that not only can they take China’s most popular mobile payment mechanism, but can also use the social site to show tourists in the local area that they are there and ready to do business.
If ever an article highlights the illogical working of the market its that, from where we are standing it would be logical to predict a substantial fall in valuation for Checkout, but it would be nicer for us if it went the other way and a substantial re rating higher for SCH, however i am not holding my breath.
What it does do though is reinforce that SCH is a sound investment at these levels and removes doubt when my confidence wavers.
Checkout Ltd has recently been valued at $2 billion (see below). Checkout's $2 billion valuation certainly merits comparison with SCH's.....
Checkout's turnover: $46m SCH's turnover: $138m
Checkout's PBT: $6.7m, SCH's PBT: $27.2m
Checkout's m/cap: $2 billion, SCH's m/cap: $637m (incl $93m cash)
SCH's turnover and PBT are 3/4 times that of Checkout's, but the valuation is just a third of Checkout's.....
"A little-known European startup with no history of raising money from outsiders is riding investor euphoria for the payments sector into the billion-dollar club.
Checkout Ltd., a digital-payments processor based in London, recently raised $230 million from investment firms including Yuri Milner's DST Global, Insight Venture Partners and Singaporean sovereign-wealth fund GIC Private Ltd., the company said on Thursday. The fundraising round, Checkout's first, values the company at nearly $2 billion, according to people familiar with the matter.
Launched in 2012 by Chief Executive Guillaume Pousaz, Checkout helps retailers accept credit cards and other payment types for their online stores in the U.S., Europe, Middle East and parts of Asia. Its European business generated $46.8 million in gross revenue and $6.7 million in profit in 2017, the most recent year its accounting statements were available on British registrar Companies House.
The startup competes with other in-demand payments companies like Stripe Inc., which was valued at more than $22 billion earlier this year, and Adyen NV, whose stock price has nearly tripled from its June 2018 debut. Checkout's customers include established merchants including Samsung Electronics Co. and Adidas AG as well as high-growth tech firms like Deliveroo."
and buying coming in at the full 330p offer price now.