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no one is interested in this company anymore here or what?
Yes, pretty sure I read it when soa was first announced. Brushed over it assuming it was nothing but maybe not.
I haven't seen any evidence that WJA knew of the claim at the time of the bid from Mastercard. Have you JMUK26?
Moreover, I doubt it follows that it impacted the offer price, otherwise why delay now? Still, there is probably lots going on we have no idea about. Maybe some IIs are truly peed off at the offer price? I guess we'll be the last to know.
For better or worse, I've sold out. Not happy with the price, but Mastercard and WJA knew about the claim when agreeing the 8p takeover price, so they must be a little worried about it to delay the takeover. Maybe this is why WJA have accepted a derisory offer in the first place. It probably all work out, but I can't bear to see the shar price back under 5p if it gets cancelled.
Good luck holders.
Anyone brave enough to take the chance there's a nice markup available here.....
I don't see how MasterCard can go any lower. Moreover, that business was sold so cheaply I doubt the case has much merit/worth. Might be a great way to delay a sale at this rockbottom price though. A PE investor should make a bid at a more realistic price.
I have sold out here but I would not be too worried about this claim. Takeover price unlikely to be affected IMHO.
No RNS came. Just the one this morning, with news that a claim has been raised against them, and that Mastercard have asked for an extension to the scheme. Question is, will Mastercard screw WJA further on price, or will they investigate themselves to rule out the risk of a successful claim. Not good for the share price either way.
jmu-where is the rns -can you please add a link
Out of hours RNS to confirm bid price?
The SCSW article was a little grating to read. The writer claims that the bid is a bit cheeky, and that shareholders should vote against the takeover, however he has sold and is happy with a 60% gain over his latest tip price.
What he fails to mention is that he's been tipping these for nearly 3 years starting at 12p and following it all the way down to 5p, so only those that got in within the last few months saw a decent return really.
He usually ends such articles with gain for readers since first tip was say 300%, but I suspect on this occasion he will conveniently skip this tradition since it will be a negative figure.
Surprised the price hasn't closed up to 7.80 ish. Still 5% to be made up to the offer price of 8p and should be resolved in a few months. The risk is that independent valuation comes back higher than 8p and MasterCard pull out dropping the share price, but on the flip side the bid could increase. If the share price drops a little more with bored sellers, I think its worth a top-up.
Given that FinnCap are the brokers, I’m pretty sure they are all aware of it!
I have not seen the Finncap report. Perhaps someone who has access to it, should forward it to the directors and all the institutional shareholders.
Fingers crossed the independent valuation comes back higher than 8p and MasterCard have to increase their offer or retract completely. However, I think its all probably a formality now, the independent review will be anything but independent.
The BoD have not done their job in recommending this offer. We were nearly at 8p without the acquisition, so to sell out a fast growing fin-tech company for a 60% premium is absolutely shocking. Other similar businesses with competent directors have sold for many multiplies of market cap and long term holders expected the very same here. Finncap's fair takeover value was 30-50p.
8p might seem an ok offer based on WJA share price performance, but you have to remember, this was formely Eservglobal (LSE:ESG) which was basically a shell company for this holding. Share price for ESG in the last 5 years has been between 2 and 40p. WJA itself has seen highs of 7.6p alone, so make no bones about it, this is a low ball offer and certainly does not appear to be in the interest of the shareholders. WJA would have been at 8p soon anyway, I'm sure of it.
As SCSW put it, this should have been a bumper bid from Mastercard, as WJA were effectively going to pocket 1/3rd of profit now growth has started to really snowball. Long term holders have been done over.
Maybe Visa might enter the fray and commence a bidding war.
MC will acquire all of the issued capital of Wameja Limited for £0.08 per share (currently $0.144) ("Scheme Consideration") by way of a Scheme of Arrangement pursuant to Australian Law under Part 5.1 of the Corporations Act 2001 (the "Scheme").
· The Scheme Consideration is denominated in GBP and will be paid in GBP unless shareholders elect to receive AUD.
· The Scheme is subject to a number of conditions which must be satisfied before the Scheme is implemented. Wameja's shareholders and depository interest holders ("Wameja Shareholders") do not need to take any action at this time.
I think invest elsewhere now. Disappointed with the price they have offered and that the Boards recommendation is to accept. Having said that, the share price has never been above 8p and a profit is a profit.
The completion date set out for investors to have their shares cancelled is basically the last couple of weeks in December.
Are you better trying to earn the 8% spread back from reinvestment elsewhere?....
MM will lock the price given the RNS.
Understandably, some investors happy to forsake the spread to take their profits today rather than wait for completion.
What was the share price they agreed?
4 times more sells v buys and the share price is up over 32%
Disappointed in the price TBH. Was expecting north of 15p, so this seems a real low blow. All I can think is the directors want out, or the business has risks that we aren't aware of. Going on figures alone it seemed like it was starting its journey of exponential growth so it seems an odd time to settle for this low price.
Although a fair way out on price!!!