London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Started: OakhamFlyer, 12 Jun 2024 18:28
Last post: ShareNicelyNow, 15 Jun 2024 13:49
This saga has definitely created a split in opinions. I was a shareholder (sold out about 18 months back), but been watching for possible re-investment. Arguments on both sides are equally valid conclusions to reach as the truth of what is going on is shrouded, hence, 'opinions' are somewhat arbitrary.
Current trading, especially on Solutions is strong. But, I can see why there are views on management's commitment, and even ability to drive this company to a much larger scale. There seems to be a lack of any serious buyer who wants the business for the business itself - the suitors appear opportunistic, who would likely leverage up on debt - hence, like private equity, are looking for a cheap price to make the numbers work. And this price will be below management's target / expectations, based on other peers in the sector.
Discussion of these points here
https://www.youtube.com/live/tztBnV3zHn4?si=EctNFRId1zhm-N29&t=3020
There are so many other issues in this sector with individual companies with their own little matters and confusion clouding what is happening outside these companies. How serious are banks about getting back some of the action like HSBC. Competition is pretty crowded already
There you go...alll hot money leaving...thank godness...
without the PSHU drama, the value of the business is atleast 130p sp.
Decided to pull the pin today after a long wait and suggestions of partners wtc etc.
The board seem a bit naive, they are holding for an unrealistic price and any suitor might go for another PUSU and see the business getting cheaper and more attractive.
The board should have started rowing their own boat some months ago instead off heading to an iceberg.
Might loose a 30% swing but just didn’t like the smell and made a margin call. GLa
Started: zebbo, 12 Jun 2024 10:59
Last post: zebbo, 12 Jun 2024 10:59
I have taken that opportunity to add. 4 reasons
1. We have grown substantially in the last year, but the SP is now at the level it was prior to the strategic review
2. Still a possible deal on the table. At min some commercial opportinies that have come out the Madison talks
3. Undervaled Vs growth
4. Some hot money leaving
Share price today is exactly the same as it was in May 23, madness!
Started: Morbox, 12 Jun 2024 07:25
Last post: Morbox, 12 Jun 2024 08:22
I added this morning, before the “strategic review” shares were hitting 120 now and again, since then the company has expanded. Just wish IST would just do a deal or walk.
As Railsr approached equals there may be a potential offer in the works still but disappointing none the less. At least we have the dividend to look forward to end of June. Could be in for a rough few days now though
One down (with potentially commercial options) one to go! Shut the bottom drawer again see you after the elections, may hear something before of course!
Last post: Chrisbish, 12 Jun 2024 08:10
Not unhappy that MDP have decided not to bid. This will present a one time buying opportunity. let’s hope the other potential bidder takes the same course. This is a fantastic Company with great potential. Management must now concentrate on growing the business.
Well it feels like we’ve been here before. Hardly any trades today’s, every one sitting on their hands. After all this time I really can see how they can extend again (but probably will). Personally I would prefer that this ends, offer or not.
Last post: StockSurfer, 7 Jun 2024 19:49
Maybe some news on the horizon. Nearly 10% in a day. Quite a jump up. Nearly back where we were a few weeks ago
Been out this PM nice surprise, yep P Hill target I seem to remember 175. I have just on growth target of 160 to slice, as I’ve said before happy either way offer (at a nice premium) or no offer.
Good weekend all.
If it's not at a decent premium, then what would be the point of selling? My target before all this was 150. This is very much a growth company.
Well if we do get a deal offered I hope it's at a reasonable premium
Just offered circa 125p on dummy sell so perhaps a deal is going to happen..
Started: maddogmcree, 7 Jun 2024 08:50
Last post: maddogmcree, 7 Jun 2024 08:50
Just a reminder that even if no takeover is agreed the company continues to excel in revenue generation and underlying profit
FY-2024 has started strongly with revenue in H1-2024 up to 12 April 2024 reaching £31.9 million, up from £24.5 million in the same period in FY-2023, an increase of 30%. The revenue from Solutions in the same period was £13.2 million, up 74% on the same period in 2023 of £7.6 million. Revenues per working day up to 12 April 2024 were £443k, an increase of 27% over £350k per day in the same period in H1-2023 and 5% higher than £422k per day achieved in Q4-2023.
Strong B2B revenue growth continues with all product lines progressing well. Equals Solutions, which contributed £31.0 million of revenues in FY-2023, is expected to continue to grow strongly as the Group adds new functionality to its payments platform during the year and widens its TAM.
Sounds like a service/product with big growth potential. Shame we are not getting comms from the BoD on all whats happening.
We are not standing still, far from it. We either get taken out or re rate based on our fundamentals / growth
Another string in the bow so to speak. Will surely help boost earnings a little
Worth a look at this;
https://thepaypers.com/online-mobile-banking/equals-money-expands-to-offer-banking-as-a-service--1268460#
Also covered by Paul Hill on V o x
Started: OakhamFlyer, 7 Jun 2024 07:22
Last post: OakhamFlyer, 7 Jun 2024 07:22
The longer this distraction goes on the cheaper the share price becomes, the uncertainty continues and the lack of communication is deafening…
The board leadership or lack of it is coming into sharp focus .. The PUSU date line has been comical at best, more alleged partners than Katie Price and the drift downwards continues …
If and if I was a business looking to acquire Equals, why not kick into the grass for another month and be below £1 It doesn’t smell right despite all the articles …
Started: OakhamFlyer, 6 Jun 2024 15:41
Last post: OakhamFlyer, 6 Jun 2024 15:41
Another week off paper cuts - let’s hope we see some green …
Next Wednesday is the deadline. I'm expecting another extension is most likely
Once again we are nearly at “D” (probably D for another Delay!).
Started: StockSurfer, 30 May 2024 09:17
Last post: OakhamFlyer, 30 May 2024 14:49
Appreciate the board are under significant pressure to get a deal over the line … Think Equals board need to exit the talks and chart their own course, too much time on this is causing distraction and distrust in the process is being to creep on…
Strange, the after hour big sell trade (last night) showing correctly on the actual LSE but here showing at 12ish today.
29-May-24 16:35:43 120.13 185,626 Unknown* 120.00 121.00 222.99k O
Yes, such low volume everyone holding to see what happens, nice little buy this morning giving a bit of support.
Seems to be slowly drifting down at the moment with no news. Sort of in limbo till trading update mid June I guess. If positive will hopefully break above the 130p mark once and for all.
Started: OakhamFlyer, 23 May 2024 14:03
Last post: OakhamFlyer, 23 May 2024 14:03
I had a dream 🛌 that Equals had a takeover bid post AGM was what my 🧠 was thinking..
It’s a tough hold when the market is booming elsewhere 😞 anybody hear anything post AGM…
Tell the suiters to bugger off and deploy capital via share buyback
SP will rise if they call a halt to these shenanigans
No sadly - Anyone going should hold the Board to account - They are doing a good job at surprising the share price with lack of transparency….
Fraid not Zebbo too far for me.
Be good if someone attends from here and can give bit of feedback…
Next Tues, anyone on this BB planning to attend ?
Started: zebbo, 15 May 2024 16:29
Last post: Morbox, 16 May 2024 09:38
I’ve added today, surely after all this time there must be a deal to be done. The CEO doesn’t seem the type to be messed around and personally I think would have walked if there wasn’t.
All said and done, there is no premium in todays price. Not when you consider the growth trajectory and FCF
Started: OakhamFlyer, 15 May 2024 06:56
Last post: StockSurfer, 15 May 2024 12:34
There is definitely a deal to be done here as there wouldn't be the continued extensions. Both parties are still mentioned so still interested.
I do not see the continual extensions as negative, just pretty normal, and neither side will want to spend money chasing something that looks unachievable. I have held these shares for many years after being impressed by the product and have always believed that it would eventually attract a buyer at a good price. Personally would be disappointed with anything below £1.50.
So this eye-watering outlay points towards an eventual deal ? The longer this wrangling goes on, the higher the fees and the more incentive to avoid wasting so much resource and do a deal ? Let's hope....
Agree, the rate of spend accelerates as time passes and the fees charged by the top legal and accounting firms are eye watering. Many people also forget the range of specialists that get involved, I still have a number of deal books which list the teams on each side and it is amazing how many are involved.
Equals booked Professional and advisory fees incurred on the strategic review of 0.656m by 31 Dec 23. No doubt that rate of expenditure has increased somewhat.
Last post: Chrisbish, 14 May 2024 22:31
Unless it is a substantial offer I would prefer to hold and add if the price goes down. It did last month and shares recovered soon after.
I hope there is no deal and it does drop as I will be putting this years ISA allowance in to it. I’ve had this investment for two years, first getting in at 83p and I think it’s better value now. If it is purchased, sure the short term jump will feel good but I will struggle to find a uk company with such good prospects at a current year forecast PE of 22.
Yep, looks like more of the same or eqls pull the plug
Either way we drop
Some big sells today too
Worrying times
SP seems to indicate another extension. The SP also seems to be in a holding pattern and has been for weeks now
Started: OakhamFlyer, 13 May 2024 10:34
Last post: Morbox, 13 May 2024 11:00
Looking back it's been the morning of the deadline. Anyway let's see what the next couple of days brings.
Well I’m not expecting a deal to be announced tomorrow as appreciate the deadline is the 15th at 5pm but I suspect they will notify the markets tomorrow at 7 am like previous form.
I do hope that a deal will get done but not expecting it …
Started: OakhamFlyer, 9 May 2024 19:16
Last post: dvs1, 12 May 2024 16:02
If the bid fails the drop should be only temporary, business is brisk and I think the wait for an offer is holding the share price back
Sort of get the feeling nothing is going to happen
As the market moves and equals continues to test the patience…
Let’s see what the 15th brings, it needs to bring a significant offer otherwise the board are in for a tough session at the AGM….
I do hope the board have got this …….. I beginning to feel that they could be naive at best and at worst just looking for a payout in the hope ….
Agreed the 21st AGM will be interesting, especially if we get another extension! On another point I do like the economic calendar on the website, saving selecting days on this site.
https://equalsmoney.com/economic-calendar
Started: OakhamFlyer, 7 May 2024 17:30
Last post: OakhamFlyer, 7 May 2024 17:30
When the market is moving this is a tough hold … The 6 months lag on deal or no deal is not helpful for the market or pi’s…
It will be an interesting next week with the AGM and 15th of May looming - I hope the board have got this…
Started: zebbo, 30 Apr 2024 08:00
Last post: zebbo, 30 Apr 2024 08:00
From ADVFN
Rule 2.8 of the Takeover Code provides that a person who makes a statement that they do not intend to make a bid for a company will be bound by that statement and precluded from bidding for six months, (although there are certain provisions to allow them to do so).
FleetCor, now renamed Corpay, announced their intention to not bid for Equals on 3 November 2023 which means they could re-enter with a bid in a few days on 3 May 2024, i.e. this Friday (or anytime thereafter).
The aforementioned 'certain provisions' is a very low bar to overcome and in reality Corpay could have made an offer anytime over the last six months. The fact they have not done so suggests they really have no interest in Equals, unless of course the yet-to-be announced bids are low ball offers in which case they may take an interest.
However... These following links come from Corpay's/FleetCor 'Newsroom' website
hTTps://www.corpay.com/corporate-newsroom?page=2&limit=10&years=&categories=&search=
18 March 2024
hTTps://fleetcor.gcs-web.com/static-files/55d9f576-40c4-459a-a1e0-aec5e6aa9bad
'FLEETCOR Technologies [NYSE:FLT]...is targeting buys in the B2B cross-border payments space and finds especially attractive founder-controlled firms that have reached a certain level of maturity or sponsor-controlled assets that have been held for five to six years, said Mark Frey, group president of
Corpay Cross-Border Solutions, a division of FLEETCOR.'
15 March 2024:
hTTps://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/fleetcor-says-bigger-is-better-when-it-comes-to-corporate-payments-m-a-80843302
'Fleetcor Technologies Inc. will pursue large acquisitions to help build its three core payments businesses, which it decided to keep together after conducting an extensive strategic review, said Steve Greene, the company's executive vice president of corporate development and strategy.
A priority in its M&A strategy is to accelerate the growth in corporate payments, Greene said. Fleetcor has solutions automating the workflow around how companies handle account payables (AP), including payment processing, so it is interested in high growth, profitable companies in AP automation. Payments companies that serve corporates' needs in cross-border payments are also of interest, he added.
Fleetcor has over $1.3 billion in capital to deploy for accretive M&A
Fleetcor would like to keep the cash flow leverage ratio below 3x, and could afford transactions in low single-digit billions without needing to issue new equity, Greene said.'
18 March 2024
hxxps://fleetcor.gcs-web.com/static-files/55d9f576-40c4-459a-a1e0-aec5e6aa9bad
'The company will focus acquisitions across the board on existing geographies of the US, Brazil, the UK
and mainland Europe, looking to penetrate “deeper, not wider,” Greene said.'
So it appears Corpay has had a recent strategic review and are now looking seriously at M&A activity. It appears Equa
Started: Bonniedog, 22 Apr 2024 20:35
Last post: Zak7795, 29 Apr 2024 13:31
As Ive said before Zak knows Jak
Is that not nuts.. it’s almost £1.30 anyway. Thought bids were usually +20% plus on current
????
I believe a possible number for company ha to be £1.70 minimum