Member Info for GSmiley

Looks like someone is buying. Sells outnumber buys but the sp is rising and the spread is as tight as I have seen it recently. All of which is great as the sp has finally got up to my average.... :-) GS

Agreed and a tasty divi increase to boot. Woodford must be smiling gently... GLA GS

Thank you both

Does anyone have any expectations of when nil paid shares will show up in online brokers accounts? GS

Caledonia is now below a notifiable threshold which means: 1. The brakes on the sp should be off 2. Their stock has been bought by someone who thinks the same GLA GS

160k shares at 75.28.

This share is a shocker. Worst in my portfolio by a country mile and I have finally surrendered and sold. It is going nowhere until the price of oil recovers and that does not look like being anytime soon. If you believe the sp will rise with oil then you will be able to buy back in for the same price as today in 12 months time. GL to this staying in - you will need it. GS

There was a "sell" of 2m shares this morning at 271. I suspect that is the reporting of a mm having filled a buy order over the last few days. Which would make more sense. Interesting to see if we get a holding RNS. GLA

Listing Rules Guidance Note 6.1.3E (5) (which was applied to QPP) says "... may not..." not "... will not...". The circumstances are different. OPAY has not just suffered a fall in SP of 60-70%. There is no suggestion that its accounting is "aggressive", that its takeovers are in any way misleading or that its recent growth is built on sand. Which is not to say that its application will be subject to scrutiny. However, unlike the error prone BOD of QPP, this one has delivered at every turn. You can bet that better advisors than anyone here will have looked at and advised on their listing plans. GS

Agreed - this business is flying and throwing off cash like mad. Strip out the bank balance and it is cheap. For me this is a share that I can leave alone and that will appreciate and generate a good yield. In my SIPP and it will stay there. GLA GS

12 week trading update due in the next 7-10 days as well. I doubt they would have done this in the US if trading was slow. For me this is just a long term hold. Especially if SGP is going to start paying a dividend. GLA GS

1000x£1.66*5/3

A sanity test is to look at what the shares would cost. The rights is 5 for 3 at £1.66. So if you wanted in today, 3 shares would cost you 3 x £5.72 = £17.16 The 5 rights shares would be 5 x £1.66 = £8.30 Total cost £17.16+ £8.30 = £25.46 Cost per share £25.46 / 8 = £3.18. I would doubt that after two days consideration the market would let you make 49p a share as easily as that (£3.67-3.18) I think if you work the extra debt in, you will get closer to £3.18 GS

Due out on Monday. In no way related to the rise in sp today... I am sure. GLA GS

Shares - You have to remember everyone here has an agenda. Mine is as a long term holder, so I do not hugely care if the sp dips a bit post rights. Though I obviously hope it does not. Assuming that something silly does not happen in terms of trading, then I would think that a retrenchment (if any) would be small and short. This is a classy company, with a management team that delivers. On the present p/e the cost savings are worth 500-600m in market cap alone, the 250 listing is probably worth half as much and with strong cash flow, it is easy to see justifications for 1bn (US) in increased market cap over the next 12 months. And that is without any of the organic growth that OPAY seems to produce so reliably. Does not answer your question, but then I don't think that selling is a good idea... GS

The prospectus on OPAY's website says the rights issue will be open to holders on the register at 5pm on 14th April. So the answer is yes. GS

If you have shares today and do not sell them and pay the right price (1.67) when it is due you will get an additional 5 shares for every three you already hold. Trading will be up again when OPAY publish their admissions document (relating to the new shares to be issued as part of the purchase of Skrill and in the rights issue). The first part complicates the document so it may not be tomorrow, although it must be in draft already). Counting the value implicit in the rights issue shares it is unlikely that the price will fall, but given the level of discount I would be surprised if it re-opened at the price it closed at on Friday. So you should be quids in if you take your rights up as this looks like a searingly good deal. However you could appear to be out of pocket when OPAY reopens in the next day or two. You should take proper advice before doing anything if you are minded to sell. GS

You also do not want to be stopped out and lose your rights.... that would be really sad. GS

If this sp is good enough for Woodford to buy yet again (400k more today) then I will have some too. GLA GS

I am not good at these calculations so all input would be welcome. By my reckoning Skrill shareholders are getting OPAY shares at about £2.61 each ($3.89 @ about 1.49=£1) The rights is going out at £1.67 (60%discount to £4.19). Feels as if there is about £1 of value for us in the rights. Combined ebitda with cost savings is $215m On a multiple of 13.9 value is $2.98bn Total shares after the transaction will be 482.8m SP in 12 months about $6.18 = £4.12 Against an average cost post rights of £2.60 None of the above counts in a rerate or the the premium for FTSE 250 membership. Am I missing something? GS