The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
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.
I spotted a couple of things on second glance, some ridiculously big write offs, one of circa €15m in Asia for bad debt and another chunky one for termination of an onerous contract of about €10m which frankly is not pleasing. The other thing was a bit of margin contract. Last thing was refinancing to come. But still, feel this is just getting taken down with the market. May dip toe in for a bounce, but unforgiving climate.
Puking of stock seems very risk-off and understandably so. Market was positive re earnings result before puking non stop... unless i missed smt on the fundamental side of things. But populist macro policies aint bolstering the case.
I swallowed 20% loss after the takeover collapsed, left a bitter taste. Few things annoyed me a lot: time taken in discussions and CEO involvement only for no deal, inside info for current shareholder and Odey somehow selling down before announcement, no divi, Caliente listing scrapped and not mentioned since. All this being said, the results seemed about ok to me so mildly surprised to see a dip of 10% on the day, still think it gets taken out for a lot of games played with this one, and in current climate market doesn't want that! When are the results ever really given on an non adjusted basis here too!
As it happened I sold my small stake a few days ago, pure luck.
The sp drop seems an over reaction when you consider this:
"This fall was mainly due to the EUR299.9 million of unrealised fair value gains on financial assets recognised in the prior period, with the current period fair value changes being only EUR48.5 million."
Accountancy jiggery pokery imo! PTEC turned over a decent set of results imo but the markets says otherwise.
Deutshce bank upgraded Playtech to buy.
New target 602p
According to LSE, the next trading update was meant to of been today?
The H1 update is tomorrow not in September
As a diversion from the interminable Takeover Tedium, shall we hazard some guesses as to whether the H1 trading statement in September will include commitment to a dividend (the first for 3 years) and if so in what amount? We might be thought to deserve something after all this stress!!
Whether JKO or any other potential bidder will be blocked could depend upon its approach: Aristocrat sought a Scheme of Arrangement, which required the approval of at least 75% in value of each class of shareholder voting on the resolution; the advantage for the bidder would have been that all shareholders would have been bound by the Scheme had the vote gone to plan; but of course it didn’t…on the other hand as party making a contractual offer to acquire all PTEC’s shares would simply need over 50% of the voting share capital to win control. Full ownership might well take longer to achieve by that route but if the bulk of those shares not held by TTB were acquired by the bidder it would effectively be mission accomplished
Did TTB ever have intention of bidding - or even actually have the funds lined up - I am not convinced. I think they were being opportunistic all along, and wanted the Tekkorp Caliente transaction to go through to derisk it at the least..in which case they would also be low balling like Aristocrat. They wasted everyone's time. How many of the Asian investors actually want to take this over vs how many want the status quo to continue - i.e services to unregulated Asian markets to continue. They could just as well block JKO as well. It's a complete mess in my view.
Fingers crossed and anything else i'm physically able to cross.
Sunday Times reports JKO to be considering a bid again. Never a dull moment with this stock!
I agree, the business has potential and not least because of its increasing importance in the South American and USA markets. Of course very very disappointed not to say poorer by the bid not materialising - but interesting they talk about supporting value for shareholders. Maybe some piecemeal sell off rather than the whole shebang will follow.
Who knows because I obviously don't!
Apologies: the BlackRock disposal was yesterday (after the bombshell!) and the relevant RNS was posted of course today.
Without wanting to incite a stampede of reckless topping up, I would point out that yesterday only BlackRock posted an RNS:it sold about 1% of its holding. I for one am inclined to hang on for developments - we can’t be alone in seeing the great long term value @ £8+ !.
I wonder what will happen when US opens any minute now
The market not seeing the silver lining today. I am tempted but not until the trend is up rather than down.
Here we go again...
1. We have a CEO who is more loyal to one shareholder (TTB) than to the company, but does not resign.
2. We have a shareholder that exclusively knows 100% about the company plans, insider information, etc. but is not restricted in trading in any way.
GLA
Financial buyers are not as incentivized to think LT. Why buy when u can just walk and figure stuff out later? But business is very cheap now based on guidance and the blockers of aris bid still own stock at much higher prices.
It will be interesting to see how share trading volumes respond to this in the near term as the big holders decide whether to keep the faith, given the positivity of the BOD.
As I suspected, no bid. But a silver lining of sorts, £200m+ adjusted EBITDA for H1, any bid could likely have undervalued this IMO. Time to ride out the short term storm and keep eyes on the long term prize.
Yeah, but that was yesterday's reported position, I think given the drop today someone was selling again, so will be very interested to see Odey position update tomorrow. If he is jumping ship before Friday, is it cold feet or something else? I think given the way the last deadline came and passed, given there has been no bid yet in the extension period, I do not hold out much hope anymore tbh.
Odey has (as of yesterday at least!) retained much the greater part of its holding and the same goes for all the big boys: we’re all in this together!! GLA.
Seems like a leaky ship, Odey selling out, hope everyone is playing by the rules
Deadline is fast approaching, do we think a bid will come in? Market seems to think not...