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Greg
I understand what you say, but if all is really well with the company why on earth would you try to sell it with a sp of £8 whenn 11 months ago it was £30 ?
Is that logical?
Or are they hiding something in the accounts?
Bill (with his contacts) was brought in to sell the company IMO
I am also cynical of the bod. My take is they had no choice but to go along with a sales process because they were approached. The process buys them time and hence salary and allows them the time to find a way to keep their jobs , whilst looking for the best price. This is a tech company and needs to be part of big american tech imv - the company value and usp is the contracts with the theme parks etc. We shall see.
TVR
If only we knew eh ?
As you see from my posts I've been a cynic all along on this proposal, I seriously doubt the board's reason for looking for a buyer, if you have a business which is in a growth sector you do not go offering it to someone else do you ?
My comment earlier of turkeys not voting for Christmas is still relevant, I fear, unless & until we receive a sensible update from our esteemed BoD, who have presided over a share price drop from £30 to £8 in just 11 months.
Never mind though, they have a plan.....
So the Total Voting rights are 27,622,146 .... OK...and the price we will be voting on is... !
Four similar trades keep appearing after the bell (At the end of the day). They are tagged Non Price Forming Trades aka NFPT. Each day they have the same lot size, price and value.
But each day is different:-
Last Week lot sizes were Mon 2,700, Tue 1,600,; Wed 2,900 ; Thu 200 ; Fri 300
This week Mon 1,100 … total value £38,708 and by my count buys
They can form a good part of the day’s volume (25% today)
This has been happening at least since 13 September. I haven't the vaguest idea what this is all about. ANY IDEAS ???
Hi Guys,
"The Company recently held management presentations with a number of interested parties and is expected to receive feedback by the end of September 2019."
Surely as there are multiple interested parties, any update would be expected in early October.?
Sailor
Good post but sadly no RNS this morning concerning the sale process.
Good news, like results, normally comes out quicker than bad news. I apologise for my cynicism about the board but I've yet to see anything to come from them which makes me change my mind yet.
Deadline, set in the Interims 18th September, is almost here. What next ???
'
-- The formal sale process which we announced on 24 July 2019 remains ongoing. The Company recently held management presentations with a number of interested parties and is expected to receive feedback by the end of September 2019.
Merlin have just announced a new Legoland to be built in Sichuan Province in Western China, opening by 2023.
More recurring revenues for years to come for ACSO then:
Https://www.investegate.co.uk/merlin-entertain--merl-/rns/legoland-sichuan/201909270910189397N/
And also:
"LEGOLAND Sichuan will be Merlin's eleventh LEGOLAND Park following the announcement of LEGOLAND New York (scheduled to open 2020) and LEGOLAND Korea (scheduled to open 2022). Discussions continue regarding opening further LEGOLAND Resorts in China."
Sailor
I noticed the volumes as well, if there is a buyer or buyers as hoped we should know when someone reaches 3%.
Alternatively it could be short covering, Ennismore were apparently short of 2.79% on August 1 ?
Last two days, in a VIP market (mainly super sized deals), some 1.1 million shares changed hands with the average price over both days of 797 (816 on Wed ; 778 Thurs).
'
If each deal was a discrete buy or sell then approximately 2% of companies shares changed hands. Make of it what you will.
Risky
Quite correct, imo. Remember those punters on here looking for close to £30 as the exit price, where have they gone now?
My suspicion is that if there were to be a bid it will be at a firesale price, as we are now seeing.
Those results earlier this week really said it all.
To try and make them look pretty is like putting lipstick on a pig.
I still feel suspicious that this bod know something, hence their dash for the door.
"The Company recently held management presentations with a number of interested parties and is expected to receive feedback by the end of September 2019."
They would have vetted potential bidders before disclosure, so to still have a number of interested parties at that stage, bodes well for a bid(s). Whether it's/they are deemed acceptable is anyone's guess.
Not long to wait either way.
Good Luck All Shareholders
The probability of ‘acceptable feedback’ is no doubt falling therefore
Any bid would be deemed as feedback until the BOD decides it's acceptable. Feedback is defined as "information about reactions to a product," only when there is acceptable bid(s) then a timetable can be applied.
This is all a little vague Ian’t It! One would expect the’feedback’ means inviting bids but the statement doesn’t make that clear. Why doesn’t the bod lay out a clear timetable for clear action. Is it any wonder the stock price has skidded lower. Any buyer would surely test the market and sell a few lines and depress the buyout price. If the bod is to stay on no doubt their incentive package from the buyer will more than compensate the measly purchases they made a few months ago. If the exit rice is above £14 I will be majorly surprised . Starting to think £12 is more likely
Rivaldo
Not sure how you can say the numbers were poor, as expected, if they were expected to be like this why are the shares now down 105p/11.54% today ?
"The Company recently held management presentations with a number of interested parties and is expected to receive feedback by the end of September 2019."
The headline H1 figures were poor as expected, but (1) there's so much seasonality here that H1 is largely irrelevant, (2) this is a known period of investment and additional costs, and (3) it's correct to strip out the the non-recurring revenues from last year for valid comparisons.
So underlying revenue growth was year on year was actually a quite respectable 7.7%.
Repeatable revenues are expected to be 80% of total revenues this year, and forecast to rise to 90% over time. This will be incredibly attractive to prospective buyers.
I also note the mention of TE2 in relation to its roll-out and implementation in 3 more cruise ships. And who is the "Leading hospitality operator - mobile app development and select capabilities"?
It would be great to finally see some details on the installation at Universal's Volcano Bay resort - Tapu Tapu is now getting repeated rave reviews after fixing the inevitable initial implementation issues.
Considering, With low season revenues growth of 7.7%
The sale process :
"Company recently held management presentations with a number of interested parties and is expected to receive feedback by the end of September 2019."
I've took some more here today.
Good Luck All Shareholders.
Taverham
Fair comment, but if they are showing as much enthusiasm with the sale process as they are with todays RNS announcement it's hardly surprising the "buyers" have still to show their hand....
Holders may have a long wait I fear.
Greg
The market does not agree though does it ?
Off 85p as I type.....
Tub of lard looks too complimentary a term for it at present.
Hi Guys,
"The comparative prior year period benefited from non-recurring revenue items with a net impact of $6.2m. Excluding these, underlying revenue growth was $3.6m at constant currency, or 7.7%."
Growth of 7.7% isn't bad news at all.
Good Luck All Shareholders
Brachid, I do not think the management want to sell at all. It was incumbent on them to start a sale process as the alternative was the a hostile bid. They might now scupper the sale process to defer christmas a couple of years much like the idiot ceo of pfd did about 4 years ago imo.
Sailor
Spot on comment of yours, lacking keenness, enthusiasm or drive.
I wonder if that is the real reason they want to sell, they are giving up ?
I have always believed that turkeys do not vote for Christmas, but this board seems to be sponsored by Bernard Matthews !