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Im thinking of selling today at a loss obviously as I bought in at £6.50…. however my thinking is as follows this will prob keep bouncing back and forth until the deal is done so If i buy back again say at £3.60 and keep selling on the up I'm sort of clawing back some losses as I know theres the £4 still on the table or even more possible! or am i being a complete moron! :)
well Iike I said before I'm already doin my cods big time with this clanger!! so my thinking is as follows …..I will either get the £4 per share if the sale goes through or for some reason someone ups the offer I will get more…. whichever way it goes unless it gets around the £6.50 mark I aint got nothing to lose playing the waiting game…… boring yes but I can be patient.
Hi everyone just to let you all know i received a letter this morning from HSBC I use their invest direct for my share dealing .. it just says plus500 is subject to a takeover by play tech bla bla in accordance with the provisions of the israeli companies law .. the acquisition is expected to complete by the end of sep … the details of the takeover are as follows for each share in plus 500 GBP £4.00 in cash The key dates are yet to be announced . I called the bank this morning re all the tax implications thats been put on these boards recently and the bank have said even thought they are israeli companies I will subject to the usual tax rules of uk not israel… so I will receive the £4 per share that I hold into my account when and if it happens … in my case Im actually losing money at £4 per share …. but just letting you know that we get the full £4 per share if this takeover with play tech goes ahead .
I would like to say Thank you to all the people on this board that have genuinely tried to help me and other novices .. to get a clear picture of this SP …. I almost bailed at an even bigger loss in the past couple of weeks … I know this is sp is still in muddy waters but Im glad Im still here ….:)
Im one of the losers re this sp ……. so obviously its in my interest to see the offer increase as much as possible at £4 Im still sitting on £19,200 loss ……. and Im sure Im not the only one!! however as many of you have said plenty bought on the drop and will sit on a good profit…. so who knows where this voting will go!
Even if Odey does reject Playtech's offer the deal may still go through. As both companies are Israeli, the deal falls under Israeli takeover law which only requires 50.1% of shareholders to consent to the deal. Plus500 only need a further 15% of votes to get the deal done. Read more: http://uk.businessinsider.com/playtechs-plus500-takeover-bid-top-hedge-fund-odey-asset-management-dubs-offer-opportunistic-2015-6?r=US#ixzz3c5x1tKGK
May I just ask? The £4 is not set in stone thought is it? I mean play tech could walk away? then Im not really sure what would happen…. The BOD don't seem to have any love for the company anymore or else they wouldn't have taken such a low offer?
Previously, I've commented that Plus 500 could be a great value play. However, after the company's management accepted Playtech's opportunistic offer, it is clear that management is no longer working for shareholders. A management team that believed in the business and its prospects would immediately rebuff such a low-ball bid. This leads me to believe that there are more problems at Plus 500 than management is letting on.
World’s largest online gaming software provider Playtech’s Cyprus branch is reportedly buying out the online contracts for difference trading platform Plus500 in an all-cash £459.6 million deal. Teddy Sagi, who controls Playtech Cyprus Ltd. (LSE: PTEC), announced that his company was buying the Israeli online Bitcoin and other instruments CFD trading company. Shares of Plus500 (AIM: PLUS) closed at 369.9 pence on Friday. Shareholders will receive in cash 400 pence for each share. Both the companies are traded on the London Stock Exchange (LSE). Roughly two weeks back, shares of the Bitcoin CFD trading group crashed more than 40% as half of the accounts of UK customers were abruptly suspended, and raised fears that the accounts were being used for money laundering. On the decision to acquire the troubled company, Playtech explained, “On 18 May 2015, Plus500 announced that the UK Financial Conduct Authority (“FCA”) had required a review of its Anti-Money Laundering (“AML”) financial sanction systems and other related regulatory controls which led to Plus500UK Limited (“Plus500UK”) prohibiting all transactions for existing customers until additional AML procedures have been completed. As a result, Plus500UK ceased on-boarding new customers.” Playtech estimates the acquired company to immediately contribute to the company’s earnings. Playtech’s CEO Mor Weizer expects the acquisition to help the company expand its market offerings. Plus500 CEO Gal Haber said, “We are very proud to have built Plus500 in a short time into a significant player in the CFD market. Having been admitted to AIM at a share price of 115p on 24 July 2013 and paid significant dividends during this time, we believe that now is the right time to combine the business with Playtech who can provide additional infrastructure and expertise to add to our core skills in products, technology and marketing.” The acquisition must have come as a sigh of relief for investors who were losing money following the strong depreciation. As the deal is priced higher than the market price, investors may also make some good money or at least reduce their losses.
Well Like I said in previous emails…. Im just someone learning this thing called trading shares….. and this one certainly pulled the rug from under me .. I thought I had done all the correct research i.e. profit making money in the bank all the usual the sp was strong they paid good divi …… and then BANG ……. I suppose with hindsight I should have sold at a slightly small loss and ran….. but I honestly thought give it a few weeks it will recover and I was happy to stay long anyhow….. oh oh what a mistake I made…….. but I will learn and maybe even earn a bit back if I could only find those things called B@@@@ks to dip my toe again as its almost 50p cheaper than the £4