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Good Evening PW,
It looks now that yesterdays price drop was nothing more than an attempt to put some liquidity into the shares. Managed a top up at around 1130p yesterday and as you know PW I make my own mind up on things and uninfluenced by others.
There are two private equity groups doing due diligence here but I still think that whatever gets offered by them PRSM is worth more to one of its main US competitors and it would not surprise me if they gazumpted matters.
As for CINE I'm holding firm on it. The court case I am watching daily like yourself and it is going really well and as it stands I think we will actually win it. The new James Bond film advance tickets are selling extremely well and that will only further intensify over the next 2 weeks. (Some will miss out on opening weekend) and the Q4 film slate is full of eyecatchers. Smacks of manipulation but its that which presents entry point and top up opportunity and it should catch its wind. If not it will plough ahead with it's US listing or be taken over. All imho.
Best wishes and GL with your investments.
It back in the green! 1.29% up on the London Stock Exchange - as that shows first) yes me to AutomationGuru.
Another day of waiting, scouring the internet for every article I can find, and refreshing this chat board incessantly. Come on Blue Prism......our fortunes await. :P
Hope so Latpulldown, between this and Cine I'm losing a fortune!
Housekeeping before first offer?
I think you are looking at Barclays - I would ignore those as they are completely hedged i.e. long position = short position and they file a new form every day. I think they are just buying and selling for their clients and using derivatives to make sure they keep no exposure at any point in time.
Thank you Jamstar, it was 8.3.
I am reading to much into it, sorry haha x
@Pretty Wild Goldman Sachs, Barclays etc... have complex derivative positions including Swaps and CFDs. Blue Prism does not hold any of these and it does not relate to a Buyout
They use them for hedging purposes or to create/ extend a short/ long position. Some of these positions might be held for their clients.
You are reading too much into it. As I said, form 8.5 have no purpose. Just keep an eye out for Form 8s and 8.3.
Jamstar, Blue Prism has "Swaps" does this mean...an offer?? Sorry I'm trying to learn haha.
What Is a Stock Swap?
A stock swap is the exchange of one equity-based asset for another and is often associated with the payment for a merger or acquisition. A stock swap occurs when shareholders' ownership of the target company's shares is exchanged for shares of the acquiring company. During a stock swap, each company's shares must be accurately valued in order to determine a fair swap ratio between the two shares. A set number of shares of one company are swapped with the shares of another as a way of covering costs.
Its an announcement by Goldman Sachs who represent Vista Equity partners on the trades they do for all their clients. This has nothing to do with Vista Equity owning any shares - you should ignore all form 8.5s
@Joatmon Yes - provided the institutional shareholders don't dump any shares. Bank of America got rid of a 10% stake in the run up and so did North Latitude, think they were around 4%.
Perfect scenario for explosive price movement if/ when a BO is announced.
As volume picks up I expect the SP to again move up.
More RNS, VISTA EQUITY PARTNERS
More info in the RNS. TGP
Does purchases mean they already have shares?
Does Sales mean they are buying shares?
https://www.sharesmagazine.co.uk/article/understanding-the-different-types-of-stock-market-announcements
@jamstar
does this mean the percentage of shares available at this time for trading is probably less than 16%
But they wouldn't invest in a company if they don't have faith in the future of the business. They need to make money.
It doesn't mean its a new position. They might just be late in declaring their position, its hard to tell when exactly they entered as they don't show recent buys or sells on the form. But adding them to my list below takes institutional and founders to 84% (inc. Coast Capital who have not submitted anything yet).
And Blue Prism has bought more aswell by the looks of it. That's good
The latest RNS indicate Hawkridge has taken 3.54% of PRSM - positive news?
@jamster, thank you for outlining everything from the 8.3 forms! Very helpful.
I think everyone needs to calm down about TPG disclosing that it doesn't own shares. Reasons.....
1) TPG could be doing this to get this exact reaction where the share price drops giving them more leverage to offer a lower bid and scoop up the company for cheap. It strengthens their position, and might not be a reflection of their interest in acquiring the company.
2) We don't know how many other competing bidders we will have. It's not TPG or bust.
3) The company is still DIRT CHEAP at this level. If it is acquired, it will be for a much higher price.......but even if it's not, investors are protected on the downside due to it's inexpensiveness. Sure it might drop a bit lower if no deal goes through, but nobody holding here should have to worry about making money on the stock over the long-run if they have to.
4) The short-term upside is still in place. An article yesterday stated that a range of 7.5x-10x sales would be an appropriate range for a buyout price. That translates to a midpoint of 1,535 GBP or 21.34 USD. Anybody who is selling now could be missing out on 35%-40%, and will be kicking themselves in just two short weeks for not waiting it out.
5) The long-term upside is also still in place. If a buyout falls through, investors might actually be better off since the company is likely to go 300%-500% (by my estimation) over the next few years. And if weak hands panic and the share price goes lower temporarily, it's another opportunity to scoop up more shares on the fear of the crowd.
Breathe in. Breathe out. It's all going to be ok everybody.
ok so the big institutions own 80% so they can control the sp surely they would want it higher not lower
Pretty wild 80% is high. I think the FTSE100 average is around 60% and it's lower for FTSE250/ AIM companies. I'm sure there are a few 8.3 forms pending. Also, don't forget the threshold is 1% for reporting. How much of the remaining 20% are smaller funds, ETFs and investment managers holding? Retail investors probably hold less than 10% of shares, that means the big boys control the share price
Which is normal 80%
(forgot to add that bit)
So all good.
Jamstar just read that - When a stock has high institutional ownership, it is usually a good sign. If the institutions -- which include large investment banks, mutual funds and pension funds -- are the smart money in the market, having them invest in the company indicates the company is doing well.
So I have gone and checked all the 8.3 forms. Almost 80% of the total float has been declared now as owned by institutional investors/ insiders.
Jupiter Fund Management plc 6.16%
HMI Capital Fund GP, LLC 6.35%
Jason Kingdon 6.01%
Ameriprise Financial, Inc. 5.11%
Abrams Bison Investments 4.85%
Invesco Ltd. 3.15%
Alastair Bathgate 4.75%
FMR LLC 3.40%
Sanne Fiduciary Services 3.11%
Blackrock 1.73%
Tickvah Management 1.20%
Barclays -0.01% (net neutral)
Archer Oak 1.14%
Legal & General 1.94%
abrdn 1.44%
Sumitomo 1.70%
Vident 2.05%
Tensile Capital 1.13%
Archon Capital 1.19%
Polygon 2.06%
Natixis 0%
Lead Edge Capital 4.29%
David Moss 2.11%
Melqart Asset Management 2.59%
Credit Suisse 3.71%
North Lattitute 0% (sold out large stake)
BoA 0% (sold out large stake)
Threadneedle 5.11%
Lazard 1.87%
Natixis (sold out was net neutral short and long)
Coast Capital - no form 8 (possibly 3%)