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Started: dobri, 18 Aug 2023 17:35
Last post: dobri, 18 Aug 2023 17:35
Hi everyone,
Can you please advise? I don't want to accept the offer of Globe as it is below what I think my shares are worth. I asked my broker to send me the share certificate so I can sell my shares further down the line, when I feel that the share price better reflects the value of BOTB. The broker accepted my request but then called me later to "inform" me that I may not be able to sell the shares further down the line, or that it may be at much worse conditions.
So, just trying to brainstorm here, what happens when I reject the offer by Globe; I get the share certificate: I own part of the company: there is no way they can make me sell unless I wanted to and I should be entitled to any future dividends etc...I am thinking right or did I get it all wrong?
Started: delboy34, 16 Aug 2023 15:26
Last post: delboy34, 16 Aug 2023 15:26
Hi guys, anyone got an update as to what is going on? Or can help me in laymans terms (ha-ha)
Just got a message from HL saying this....
"As you will be aware, Globe Invest Limited has made an offer to buy Best of the Best plc for 535p per share. The deadline for acceptance has been extended. If you have already given an instruction to accept the offer, you can disregard this message.
Following our previous correspondence, Globe Invest Limited has announced that they have acquired approximately 96.7% of Best of the Best’s issued share capital. Globe Invest Limited has confirmed its intention to compulsorily acquire any remaining shares not submitted for acceptance. If you’ve not accepted the takeover offer, we’ll automatically try to accept the offer for you, so you receive the cash as soon as possible. If the offer has been closed at this point you’ll receive the cash when the compulsory acquisition has been completed instead.
The offer is still open for acceptance – Act by noon on Tuesday 29 August 2023
The easiest way to take part is on our website. We can’t accept instructions by post or the HL App.
Log in online
Select your Lifetime ISA.
Click the dark-blue icon to the right of your shares and follow the steps.
If you accept the offer, the cash will be credited to your account within 14 days following the acceptance deadline.
If you don’t want to accept the offer, you don’t need to do anything right now. Please be reminded that Best of the Best shares are due to be delisted from trading on the Alternative Investment Market (AIM) with effect from 24 August 2023.
If you wish to sell your holding before the proposed listing cancellation you must do so before the end of the day on Wednesday 23 August 2023. The trade will be placed in accordance with our terms and conditions and subject to the standard Stockbrokers commission rates. To sell these shares please phone us on 0117 980 9800. Please note that if the cash consideration of a sale does not exceed the commission payable then the sale will not be executed. Please note that although Hargreaves Lansdown will endeavour to sell your shares it may not be possible to sell all, or even any, of your shares if a market for the shares no longer exists.
If you wish to maintain your holding you need take no action. You should note that following the cancellation you may have difficulty selling this investment at a reasonable price and, in some circumstances, it may be impossible to sell it at any price."
Cheers all.
Started: measuredd, 20 Jun 2023 14:33
Last post: Hedgehog100, 25 Jul 2023 16:32
20th Jun 2023 2:16 pm RNS Recommended Cash Offer for Best of the Best plc
"... The Independent BOTB Directors intend to unanimously recommend that BOTB Shareholders accept the Offer, as they and their connected parties have irrevocably undertaken to do in respect of their own BOTB Shares (totalling in aggregate 1,585,506 BOTB Shares, representing, approximately 18.95 per cent. of the share capital of BOTB in issue as at the Latest Practicable Date) and 79,352 BOTB Share Options expected to be exercised following this Announcement. ...
View of the Company's independent financial adviser with regard to the financial terms of the Offer
The Independent BOTB Directors accept the advice of finnCap who have advised as to the financial terms of the Offer. finnCap has on balance determined that, in their opinion, the financial terms of the Offer are not fair and reasonable. In providing this advice to the Independent BOTB Directors, finnCap has taken into account the commercial assessments of the BOTB Board.
finnCap has observed in this respect that the Offer Price represents (i) a discount to the volume-weighted average price of a BOTB Share over near-term time periods which it believes to be most typically reviewed (being thirty, sixty and ninety days) to assess the Offer price against; (ii) implies a lower range of multiples of revenue and earnings than that of companies and transactions identified as being broadly comparable to BOTB and the Offer (whilst recognising that there is a very limited pool of directly comparable and relevant companies and transactions); (iii) carries no conventional premium to the near term share price for obtaining control of a public company; and (iv) does not fully recognise the value that could potentially be generated should the Company's strategy (including the benefits of the GIL partnership) be successfully executed and delivered as currently anticipated.
finnCap note that the Offer represents a liquidity opportunity to all BOTB Shareholders to sell their BOTB Shares with a level of certainty that has not otherwise been widely or obviously available, and may not be possible on the same or better terms in the future (if at all).
finnCap remind BOTB Shareholders to carefully consider the views and recommendation of the Independent BOTB Directors set out in this paragraph 6, including other non-financial and longer-term factors and drivers that they have considered. ..."
https://www.lse.co.uk/rns/BOTB/recommended-cash-offer-for-best-of-the-best-plc-cmy941nvo3cfrw4.html
So the Independent BOTB Directors unanimously recommend that BOTB Shareholders accept the Offer, while at the same time accepting the advice of finnCap that, in their opinion, the financial terms of the Offer are not fair and reasonable.
In effect the directors are saying that shareholders should accept being ripped off, because the alternative would be worse.
Although I do not want to take this offer I believe there is no choice or risk getting stuck in an unlisted company however I think this will reach 90% so like it or not you will be bought out.
Once this takeover was announced I bought some more shares at £5.25 hoping for a bit of a fight and a better offer but at worst make 10p per share as it was obvious he would get over 50%, tried to buy some more after the 29th June announcement but gone up to £5.28, will pick up a few more if falls back to £5.25.
Update on Mandatory Offer: https://www.lse.co.uk/rns/BOTB/update-on-recommended-final-mandatory-cash-offer-zev1q4qob70o6l4.html
Too late for a competitor bid?
What's everyone doing? I've let a few shares go with the obvious impact of the spread.
From CMS Guide to Mandatory Offers and Squeeze-outs
When triggered, a mandatory offer would have to be followed by an offer
document within 28 days. Normally the period would be much shorter –
perhaps one or two days.
— The offer must remain open for acceptance for at least 21 days from the date
the offer document is published. If the offer does not become unconditional
as to acceptances (i.e. the bidder’s stake in the target company, taking into
account both its existing holding and acceptances of its mandatory offer, is only
50% or less of the total number of voting rights), the bidder can, but is not
obliged to, extend the offer for a further period.
Well, you were spot on Terry. Blackmail indeed including “no guarantee of future dividends”.
Any idea on timescales and when we might receive the offer from our brokers? I’m with ii and Trading 212. ii are normally very good with corporate actions but T212 are hopeless. I didn’t even receive the last offer to sell some shares for £6 despite my nagging them!
Started: barnetpeter, 27 Jun 2023 09:30
Last post: barnetpeter, 27 Jun 2023 09:34
So the directors sold much of their own holdings to investors at £24 a share. 18 months later most of the same directors decided that £5.25 was a fair price for those same shares.
Business has been going well , no debt issues. Not great is it.
31 March 2021
Best of the Best plc
("Best of the Best" or the "Company") (LON: BOTB)
PrimaryBid Offer
Best of the Best (LON:BOTB), the AIM quoted provider of online competitions to win cars and other prizes, is pleased to announce an offer for sale via PrimaryBid (the "PrimaryBid Offer") of a maximum of 41,666 existing ordinary shares of 5 pence each in the Company (the "PrimaryBid Offer Shares") at an issue price of £24.00 per PrimaryBid Offer Share (the "Placing Price"), being a discount of 16.08 per cent to the closing mid-price on 31 March 2021, pursuant to the sale of existing Ordinary Shares by certain Directors of the Company and their family (the "Selling Directors") as announced earlier today
Started: Da_Matser, 24 May 2023 07:59
Last post: Da_Matser, 24 May 2023 07:59
EOY TU is well overdue. Perhaps they have some news they’re waiting on or perhaps they’re just adhering to their usual poor record on comms. Either way, the SP has been somewhat twitchy the past couple of weeks.
I think they’d benefit hugely from creating a webcast presentation or at least a Q&A conference call but I think we know what the chances are of either of those happening.
Started: AGBR, 16 Feb 2023 16:02
Last post: AGBR, 16 Feb 2023 16:02
16-Feb-23 13:39:17 630.00 42,308 Unknown* 610.00 650.00 266.54k O
16-Feb-23 13:39:20 630.00 42,308 Unknown* 610.00 650.00 266.54k O
I can buy stock at 617.00 so these look like buys.
Started: barnetpeter, 8 Feb 2023 20:07
Last post: barnetpeter, 10 Feb 2023 13:45
700p now.
Got rid of one of my old dawgs today...7dig....bought out for 100 per cent plus premium. This to be next? £12 maybe?
Last post: Lazypunter, 6 Feb 2023 17:36
Excellent Peter..Well Done.I think there is no smoke without fire and someone is getting the kindling together before lighting their fire..this should be an overseas hit but BOD do not have the experience of overseas and they need a fluent language speaker in Spanish and English, as Hindmarsh & Co can only write a few words in English as evidenced by their RNS statements .Lazy
Unfortunately there is no such thing as jobseekers any more. Now it’s universal credit. But yes indeed it’s gone up 20 per cent since they stuck their £20 in. Don’t discount a takeover here. I reckon the current lot want out now. Got my freeroll and that will do me. I sold some at £31 a couple of years ago and we won’t see that again but £12 would not surprise
Barnetpeter has tipped this to his tenants' on Job seekers..they are buying for all their worth, which is FA, or the directors won some money on the GG's and are playing it up here, as Mark Slater is fed up off looking and explaining the losses here to his well heeled investors..There is no Zulu Principle with the BOD of BOTB
Anyone know if this was tipped today?
Tom W perhaps ?
Yeah I’ve also lost confidence, didn’t want to average down at any point. I guess today is a start of an hopeful recover
Started: Da_Matser, 14 Sep 2022 10:13
Last post: Da_Matser, 14 Sep 2022 10:13
As comprehensive as usual. In line with market expectations. They have no idea what my expectation is.
Started: Da_Matser, 16 Jun 2022 09:30
Last post: Da_Matser, 23 Jun 2022 19:35
ii had an electronic form under Corporate Actions tab.
Trading 212's response has been woeful:
Thank you for sharing it with me, I have just checked and I was not able to see information from our intermediary regarding the matter. As soon as we have official information all of our clients will be notified accordingly.
I fully understand your willingness to participate in the event, you can be sure that as soon as we receive an information how it will be handled, you will be notified.
If I were you I would feel the same, however, as of now, we should wait for an additional information from our Intermediary. You can be sure that you will be notified immediately regarding the event once we know.
Blah blah blah
As my shares are held in an ISA and SIPP with two different brokers and therefore held in nominee accounts, will the offer be passed on by my brokers?
I imagine Interactive Investor will but I have my doubts about Trading 212
Started: barnetpeter, 16 Jun 2022 10:12
Last post: lemonade311, 20 Jun 2022 10:09
Not the directors fault the market thought the shares were worth a stupid £24 a share. You're all just salty about the drop.
so the directors sell shares at £24 and buy them back at 25% value and thats good?
What are you talking about?
A share buyback at £6 is good. You post too much crap on here. Go learn instead.
The directors did a tender offer at £24 via primary bid a year or so ago. The company got nothing out of that and now wants to buy a bit of stock back at £6. Talk about a legal mugging for those lucky enough to participate!
Started: lemonade311, 11 May 2022 09:21
Last post: lemonade311, 11 May 2022 13:13
Not sure why you think that... Are you over the age of 40 by any chance? :). The airport stands were complete trash and a 20th century business model.
It requires fees to the airport, staff to maintain, capex to raise them and is completely inefficient compared to online marketing reach when done properly.
Their ROIC, revenues and margins are higher to being online
I think their airport stands were quite glamorous, and an inspired location. Everyone is in a dreamy mood when flying out on their hols. While I applaud the move online, I am not sure losing the airport stands was a good idea. The airport stands would still be good marketing.
I am not sure how far they can grow. However they are financially run very conservatively, and share price currently undervalued based on fundamentals. The obvious thing would be for a bigger player to take them over, to leverage the business.
That's the barest of trading updates I ever seen lol.
BOTB needs to post their LTV numbers in their next RNS. I've already asked them for this as we have the CAC but without LTV it's useless.
Anyway, this stock is priced so low that this is a good update. I actually saw their ads on reddit which is good that they are diversifying marketing strategies.
Started: Pedrobull, 28 Feb 2022 18:14
Last post: Pedrobull, 28 Feb 2022 18:14
RNS dated 28th Feb @ 4.30pm - Michael W Hindmarch increased holding from 5.6% to 6.3%
https://gb.wallmine.com/lse/botb/officer/2024619/michael-hindmarch
Michael W. Hindmarch, DL, serves as Non-Executive Chairman of the Board of Best of the Best Plc. He qualified as a Polymer Technologist at the National College of Rubber and Plastics Technology, London. He founded Plant pak (Plastics) Ltd, a horticultural plastics company in 1970. In 1985 he reversed Plantpak into Falcon Industries Plc, a listed conglomerate, becoming Chairman and CEO. Since 1990 he has acted as an independent business consultant to a number of companies. Michael served as High Sheriff of Essex 2010/2011 and is a Deputy Lieutenant of the County.
Started: Latorre1690, 10 Jan 2022 08:04
Last post: barnetpeter, 7 Feb 2022 21:16
Selling the company and or closing it down and returning cash is a possibility. Spending money on advertising seems daft to me. The competition is fierce and the best days are gone.
£4 seems about right, interesting few months for the company, still no signs of any diversification of the products they offer.
Lemonade…I think you are the only one here who thinks it was reasonable to sell via a third party to satisfy “strong demand” and then a few weeks later announce profit warning that demolished the share price by £20 a share. If that is not getting close to insider trading….how could investors do their own when all they had were rns notes about how fantastic the company was doing? Try that as a director in the United States and see how many law suits you get! Maybe it was all legal….I guess it must have been …sure the directors must have thought the share price was overvalued but who would invest in the stock mkt if the directors were allowed to mislead just to sell their stock at crazy prices
They cannot sell it to the company at that high a price. That would be destroying shareholders value when it was clearly overvalued. They used the free market to sell their shares to people who did not do enough DD on the company, nothing wrong with that.
Here's the RNS: https://www.lse.co.uk/rns/BOTB/primarybid-offer-s96fugwewqlk23k.html
> As a result, pursuant to a number of investor meetings and indications of strong demand for the Company's shares, from both existing and new institutional investors, the Selling Directors have decided to release a portion of their shareholdings in order to satisfy this demand, broaden the Company's shareholder base and improve liquidity
The wording here is hilarious though. Here's a translation:
> Our shares are severely overvalued and we need to dump them as fast as possible before retail investors realise they are massively overpaying.
But this just means that you cannot ever trust what directors are saying obviously and have to read between the lines in all RNS's.
Especially on AIM exchange where it's the wild west.
I would have done the exact same thing if I was a director. If you don't do your DD then you don't deserve gains.
yes infamous. I would have no problem if sold in the mkt but they sold via a special primary bid placing where none of the money went to the company. From £24 to below £4 in 9 months. I cannot see how the directors did not know the company position when they sold and I do not know if they were obliged to set out an update when they sold.....obviously not. So I guess the directors did nothing wrong. Some of the biggest commentators around were very keen on botb last year and were pointing to the large divis etc. Which then stopped after the profit warning etc. So nothing was wrong perhaps but private investors have taken a near £300 million hit approx and it has come out of the blue rather and some of the best pundits around are in complete shock. Much of my remaining holding cost nothing and I sold a lot of my £24 placing at £30 plus but I still feel very cheated and sorry for those that invested heavily here. A question more of trust than losses.
Started: NickRubens, 20 Jan 2022 14:11
Last post: NickRubens, 20 Jan 2022 14:11
TV channels are bombarded with text/telephone competitions. Gas/electric doubling in price which will likely further take punters money away.
Covid state handouts to stay home and perhaps gamble instead are over. I think BOTB need to branch out into other forms of competitions like house raffles.
I used to see BOTB ads online a year or two ago and not seen any since.
Started: topsharepicks, 19 Jan 2022 14:41
Last post: topsharepicks, 19 Jan 2022 14:41
he has made a tidy sum last couple years!!!
Started: measuredd, 11 Nov 2021 11:56
Last post: rico1991, 17 Dec 2021 13:21
Who's that? JKR?
£34 high this year down to £5.5. I doubt there is much left here. This stock and Boo have wiped out a lot of those following a certain site and pundit
Absolute dead-beat company with poor management. No diversity into other avenues, just look to pour more of our money into advertisement when revenue starts to slow. Absolute chancers... run by millenials... time to sell
Decent update but nothing more. Maybe get to ten pounds but a huge overhang to clear. All those that took the placing at £24 by the directors. The company saw none of that money. Trust has gone here…a number of institutions bought in then. Not good was it? Not good at all
"The Company reports that financial performance for the period is in line with the market guidance issued on 13 August 2021. Customer acquisition costs have stabilised, albeit at the higher levels previously reported. Engagement from the enlarged player base has also normalised, with average order values and frequency similar to pre-pandemic levels. Trading for the period has, therefore, been consistent with management's revised expectations."
Hopefully that will halt any further trend down. Really need expansion to the US or takeover interest to see the big rises again.
Started: Paulorufus, 4 Oct 2021 21:56
Last post: bigbadbob79, 11 Nov 2021 11:47
Just trades at the mid price so the system has nothing to indicate whether a buy or a sell.
Apologies for my ignorance but what are all of the greyed out trades showing as happening on the 12th of October
Either way we look at it, this was £34 in March. Today it hit another 52 week low of just £5.70p. My buy at £6.50 was not the lows and we are going quickly towards below £5 on the charts.
PI's who followed the various tipsters who presented this as a superstock have lost hugely. The Primary Bid offer at £24 on behalf of the directors....may be the biggest PB loser ever in such a short period. In the US investors may well have issued court summons etc. to identify exactly what the directors knew and when. It all stinks a little....and I say that still in profit overall. I admit I am very relieved to have sold the placing stock in the £30's or I would have taken a big kicking.
It’s such a pity for shareholders. It just has a dreadful Porters 5 market outlook: when they left airport concessions they lost their modest competitor moat. Now they face more direct competition ;still a fear of unhelpful regulation/legislation; digital customers with more to spend their money on post COVID; fear of innovative new entrants /substitutes.I recall the stockopedia stock slam folks quite recently suggesting it was a ‘ darling’. Sadly not any more. Eg No way could I attempt a dcf on this as I could never estimate a terminal value. Will this business model even be around in 5-7 years with the pace of technological change. ?With their cash , increased marketing & management expertise there will be some value here but it’s days of being seen as a safe, growth bet seem long gone.
It’s been Interesting watching this share over the last year,
I held for a while and sold after the director sales,
There is way too much competition in this market currently with dream cars / elite competitions etc etc etc
Youngsters don’t want to spot the ball, they want a entry in a competition for a few quid. Spot the ball is not a relevant thing nowerdays and only appeals to football fans.
Directors did well to get out and this company needs dragging into the 21st century by a director with vision and a clear understanding of the target demographic who plays these games.
Started: barnetpeter, 24 Aug 2021 13:12
Last post: Pedrobull, 1 Oct 2021 10:35
@Jeddy333 you say - "BOTB have £15 million in assets, are debt free, made nearly £12 million in profit last year and are on track for roughly £5 million profit over the course of this year. In what world is a £65 million market cap generous."
£65m less £15m assets leaves £50m, if the £5m forecast can be grown in the coming years this is an opportunity, however if the £5m is declining YoY this is a busted flush?
been watching this one........ bit tough there jeddy333....... I think no one knows what good looks like for this one at the moment.....its fallen 78% [from £30+] in 6 months....... lets wait for the next update before we start calling folks clowns ...maybe those that bought over £20 are clowns in some folks eyes.......it maybe seen that buying at £6.50 makes you a clown if this falls further........what is a clown by the way?.......... someone who makes you laugh I thought, not someone who has a view......... or makes the wrong investment decision.......B
@StanAccy you absolute clown, BOTB have £15 million in assets, are debt free, made nearly £12 million in profit last year and are on track for roughly £5 million profit over the course of this year.
In what world is a £65 million market cap generous.
Moron.
Share Price still looks on the high side, current market cap of £65million is some what generous.
I did buy a few and I added a few more today. It has been a huge fall from about £34. Not gone mad and still some leeway if the fall continues....and I accept the risk. But the next statement may show that this kicking is simply overdone. My average is just below 650p excluding the free ones I have......and this may be about the lows.
Started: Peterson, 16 Aug 2021 16:34
Last post: Peterson, 16 Aug 2021 16:34
Looks like Chelverton Asset Management have added to their position. According to Stockopedia they were previously at 4%. Just disclosed they have crossed 5%. Good sign. For the most part institutions don’t tend to average down post such a dramatic fall unless they have strong conviction. Then again they did get caught out. Still. Positive. Looks like we have a floor between £7 and £8. Assuming no more bad news. Icing on the cake would be to see management re-investing part of their placing proceeds. If they believe in the business should be a no brainier. In the spirit of disclosure I now have a position. Market has over reacted in my humble opinion. Management have lots of ability to play / reduce marketing. Also trim admin overhead. Talk of a rights issue is ludicrous given the cash flow generative nature of the business and net cash balance sheet
Started: Daisylou, 15 Aug 2021 03:15
Last post: Taverham, 16 Aug 2021 10:33
The company generates tons of cash - so no problem there for now, particuarly as the update indicated they adjus advertising spend as they go along. For me the bigger deal is the competition provided by the myriad of competitor competitions I see advertised daily on the telly. I tend to agree with Peter- we could see £5 here but I will be a buyer just above that price.
I agree the company is unlikely to raise cash. More likely perhaps is a take over deal perhaps with some directors involved. If this steady fall continues we will see £5 soon enough and that will be a big tempt.
Sorry typo generates cash
BOTB is fully funded and generates case no need for any rights issue
Started: Itslikeacasino, 13 Aug 2021 12:34
Last post: HeresHopin, 14 Aug 2021 21:18
Read they were still profitable. Can't see a reason to raise funds.
Taversham. Well said.
Regards
Yeah... Even a pinch of salt needs to be taken with a pinch of salt if it came from LSE Share Chat. :)
I have noticed two posters, Cavendish and Its likeacasino make outlandish and un supported statements , the sort that would come from people with shorts on this stock. I can no longer take any of their comments seriously unless of course they have some evidence?
Sorry, care to elaborate why that would be required?
It's time to retract all the cars BOTB have given away because this is bad!
DYOR GLA
Started: Djeternity, 13 Aug 2021 13:50
Last post: dsc1978, 13 Aug 2021 17:07
I wouldn't buy it. Lots of director selling, profit warning. I don't see what's attractive about it right now, just because it's cheaper doesn't mean it's a buy.
well the BoD being forced [ish] to sell millions of shares @ £24 each to meet institutional demand seemed to have been good for the BoD and bad for the Instys........ Still unloved, maybe more so now.than ever......Taken this off my watchlist,....... B
Any Chance this could finish on £9.00
Started: fundamentalanalysis, 13 Aug 2021 14:56
Last post: fundamentalanalysis, 13 Aug 2021 14:56
on my watchlist for a bounce but i think that will only come after a few more days and a lot lower price than this, I would feel very nervous about buying in @ this price and i feel Monday especially could be another bad day here after the weekend to sup up the numbers.