The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
I am aware of what Fiserv is doing and I believe I stated it on here before that a financial partnership (Fiserv buys ~50% or IBM etc) would have held much better long term value for shareholders bc of the reasons already mentioned
IBM did not invest financially into partial ownership of MONI which is what would be required to satisfy balance sheet or longevity concerns. Completely different than what was done.
I am not short. I don't think the others stating to vote no are short either. They're longs who knew the value of selling off some assets and getting a financial partner is better than a takeover at this price. If the reason for lack of sales is bc of concerns over the size of the company (valid) then having a "partner" like an IBM or a Fiserv or another large institution takes that off the table and there will be use for Finkit. If you don't think there is use for Finkit what exactly its a company like Fiserv going to do with Moni? They are not in the voucher business.
75% of the votes not the overall shares if I recall.
I do not disagree on your statements but merely stating that because of their bid based on their research there should not be some huge drop once this gets voted down. Some will sell, bc they played on that margin move.
Keep in mind due to the fact Fiserv did their "due diligence" on valuing the company that a "floor" is somewhat established in the price. The selling would be from the so called "experts" who tried to pinch 3% out of a short trade on the current pricing to the 3.1 And they deserver to lose.
Won't speak for k3 but everyone should be voting NO. Watch what happens when we stand together. Remember we only need >25% to vote NO. Once we do that together, then we have more options on what to do next.
Just vote NO if you haven't already. I also voted no.
It's a minor move at this point but ultimately there is recognition the deal is unlikely to pass. Investors typically don't pay up for uncertainty. In this case I, and many others, can argue this deal is not good for shareholders. This is not the offer to take and the exbroker on the other board thinking this is going through is going to be greatly disappointed. People will not be "scared" into voting for such a low offer. That's not how it works.
The 2.9 to 3.1 move won't get it done.
The offer is for 3.1 why would you sell below the final offer?
I would take that statement to be that they fought and this is what was offered. They didn't confirm they would vote for it and by not voting at all, they would basically be voting against. They don't have much else they can do at the moment in regards to forcing Fiservs hand any further. Do not fall for the fear mongering. That tells you everything you need to know. Just vote with your conscience, which for everyone that has any real knowledge of this company, means vote NO.
Not surprised to see a small increased bid amount. They're not going to jump in huge increments unless they absolutely have to do so. It is more prudent to bid in small amounts. And the "final" bid commentary tactic is used in negotiations all the time. It sounds great to them until people reject the offer. Then you have to do the "best and final" again. It could be the structure of the deal needs to change, where Fiserv becomes a large shareholder vs taking the entire company. If the reason FInkit hasn't been taken up is bc of balance sheet concerns, then having someone like Fiserv take a ~50% stake should provide enough confidence to get the ball rolling. Then shareholders get the long exposure they want as do Fiserv. They could also then decide on how to profit from the MVC business by disposal etc. Stand together. Vote NO.
How did we end up with a 3.5 number? The threshold from most conversations I have followed are in the 5p range.
I hadn't looked recently so I am probably behind but the new FINkit website is another step forward. Some good information on there displayed in a solid UI. www.finkit.com
"The award for Digital & Social Media Campaign of The Year goes to @FRANKPUBLICITY & @MyVoucherCodes #DAREawards Well done!" -- @PRCA_UK twitter account
The board should have worked to sell off Content if they were going to sell the entire business. I can't see Fiserv keeping that business and they will end up selling it themselves. If you remember when there were discussions about Content being sold last year the stock spiked. That stock spike was higher than this offer price. An additional stock spike happened in late fall of 2016 when they announced the partnership program. That price was also higher than this offer. The offer is not acceptable.
I can still see the Finkit linkedin page. https://www.linkedin.com/company-beta/31092/
This is the first time I have seen IBM Watson listed as a "partner" with the other 12 "partners" they originally announced (Behaviosec, WorldFirst etc) http://www.monitise.com/what-we-think/wp-content/uploads/2017/06/Guided-Saving_002.jpg 12 founding FINkit members including another six Finovate/FinDEVr alums: BehavioSec (F15, FD15) Currencycloud (F16, FD15) Envestnet | Yodlee (F16, FD16) Experian (F16) Fastacash (F14) FICO (FD16) HID Global iGeolise LivePerson MYPINPAD Syniverse WorldFirst
Posted By Will Jones on Jun 2, 2017 According to the latest UK Tech Nation Report, the number of tech businesses in South Wales has risen by 28 per cent in the last year. This makes South Wales among the five fastest growing digital clusters in the UK. The report also showed that 17,471 people are now employed in the tech sector in South Wales, and a Gross Value Added of £392m, up from £369m last year, illustrating the growing value to Wales of the digital economy. Reflecting this growing success of attracting highly skilled software engineers in the region, it is positive to see FINkit continue to develop its presence in Nantgarw, just north of the Cardiff city centre. For that, we are proud to be an instrumental part of the growing presence of the fast moving FinTech sector in the “Silicon Valleys of South Wales” Led by Anouska Streets, head of engineering at FINkit, and an alumni University of South Wales, FINkit has assembled a world class team of software engineers, who are at any one time building and testing platform services to provide the best support in helping Retail Banks, both in the UK and across the world, with their digital strategy and helping them to truly embrace technology. With a steady stream of interest from UK banks, and non banks seeking to position themselves for the opportunities that the CMA’s Open Banking initiative will present next year, FINkit will continue to expand its presence in Cardiff and embrace the core of engineering talent readily available to tap into. To keep up-to-date with our Nantgarw office follow our head of engineering Anouska on Twitter @AnouskaStreets