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errr, well it was.
Building up strength now.
Missed that yesterday.
New ath though today - 820p.
And closed above 800p again.
Surprise, surprise Blackrock buying more.
Volume sold : 0
looking good, maybe word is out.
That's right, I've been seeing some big trades previously and nothing happening. In fact, going backwards.
Thanks for info...let's see.
Yes, I noticed CDM price, thought that was odd. Must be dodgy, since when does a takeover pay little more than current value?
Another 1.8M gone through as a late trade @ 812p.
I'm assuming they are all from yesterday.
TM17 seems to react slowly, so the full picture may not emerge for a few days, IMHO.
Yes, interesting.
A few notable things happened today - first close above 800p at 812p, which is within a whisker of the ath of 815p set last week.
Second - very high trading volume 5M+, which puts it the third highest day in around the last 3 years, so clearly a major transfer of shares going on.
Third - the highest day ever, around 15M, earlier this year, led to the shares being flat/declining for around 3 months whilst the massive block of shares was absorbed into the market at around 600p. On that occasion I think, from memory, the shares were sold at something of a discount to the prevailing price, which doesn't seem to be what happened today.
Fourth - the spat at CDM appears to be getting worst, with some large shareholders questioning the price of the deal and the "independence " of the non exec's, one of whom stands to get 3 years pay for around 6 months' work, if the deal goes through.
https://www.thetimes.co.uk/edition/business/pressure-rises-on-directors-over-sale-of-codemasters-f8pdm2z2c
"A large shareholder said that the non-executives could not be considered neutral parties in the acquisition talks because the deal, if it was completed, would accelerate their payouts.
The complaint by the investor, who would not be named, marks a significant escalation in the row over the proposed acquisition of Codemasters, which makes racing games, by Take-Two Interactive, the Nasdaq powerhouse behind Grand Theft Auto."
CDM closed at an ath today of 504p, more than the 485p offer.
I think there could be quite a bit more to come here - the CDM sell out at an undervalue is looking very shaky.
I saw that but didn't understand, becuase it was sliding to 770 beforehand!
Sounds exciting!
3 huge trades after hours today totalling around 4.4M shares all around top price, 812p, totalling £35M.
Hopefully there may be an RNS incoming shortly.
Can't really work out our current price at present, looks like a few very big buys in amongst some smaller churning.
I'm no expert, but it sounded like a cr_p deal when I heard what they were offering for the takeover a few weeks ago.
Codemasters' takeover slated again in The Times yesterday, effectively suggesting that the directors including non exec's are selling shareholders down the river for their own personal (substantial) gain.
https://www.thetimes.co.uk/article/flawed-codemasters-deal-shows-the-need-for-a-long-term-game-plan-hr2dbwbsq
Choice phrases abound such as -
"The deal is flawed on every level and benefits neither shareholders nor the wider economy."
"The price, moreover, is highly unattractive."
TM17 p/e is currently 61, same as CDM.
The American company has offered a premium of only 12 per cent. These are the terms a company would accept only if it were in distress."
"Yet Codemasters has been a lockdown winner. Between April and September, its revenues doubled to £81 million."
"Boss Frank Sagnier, who says the bid fully values Codemasters and that games are becoming increasingly expensive to develop, will get a £17 million windfall"
"Shareholders need to start focusing on long-term rewards rather than their annual bonus cheque"
The implication being that games developer(s) should be able to command much higher prices.
People like their quick profits here, so that likely to affect things short term, but general trend is v.good.
Maybe helped by wider negative sentiment today.
Good luck
ath 815p earlier today, although slipped back a little later on.
Can't complain though, so long as we seesaw upwards to infinity and beyond!
No doubt helped a little by CDM along the way.
No CDM options type nonsense at the TM17 offices, I'm sure.
Yes, not overbought or oversold....looking for over 8 this time!
last time was a practice run
...after that, probably up and down but headed for over 9 before next results IMHO
786p - all time closing high today.
Beautiful looking chart - very, very well behaved this share.
Yes, we need another PR boost to lift price again.
Mainly about Frontier, but small mention of TM17 in "The Times" today -
https://www.thetimes.co.uk/edition/business/pandemic-means-its-time-to-power-up-for-one-of-the-biggest-players-in-gaming-s82b295g5
"If he’s right, Britain’s crop of games developers stand to prosper. Mr Braben bemoans the many home-grown studios that sold out in the past, sending intellectual property and well-paid jobs offshore, but he thinks home-grown developers are much more inclined to stay independent now. Indeed, he’s bullish about the prospects for the British technology sector. Frontier has hired 120 people during the pandemic and it’s eager for more. “Finding good graduates is now much easier than it was before. The tech sector in the UK is in really rude health.”"
should be, but no movement today
The Times today -
"Some of the country’s biggest retailers were overwhelmed yesterday as gaming fans tried to get their hands on the latest Playstation 5 console.
Tesco, John Lewis, Currys and Game websites crashed after they were unable to cope with demand for the £449 console.
Currys had introduced a virtual queueing system on its website, with more than 200,000 waiting at one point, before announcing that it would delay taking new orders.
John Lewis and Tesco managed to get their websites back up but said they were out of stock within an hour. AO World, the online retailer, had stock to fulfil for pre-order only so did not take any more orders"
Should be good news for anything computer game related, including TM17.
Seems to be recovering nicely after the Tech sell off on monday.
Good news about Overcooked! All You Can Eat release, especially the accessability features.
Thanks Skittish, hadn't seen that...yes I can see 8-9 and higher somewhere on horizon. Without that news I was thinking a few months away, but things might change quicker.
Shore Capital says the CDM bid significantly undervalued the company.
P/E is the same as here.
The Times says other bidders may be flushed out including possibly TM17's new friend Tencent.
800p next week?