Member Info for Hardboy

Has anyone been to the AGM in the past? I just wonder what they are like. They can vary so much - specially AIM companies - from the board turning up hoping no one else shows up and just rubber stamping all the resolutions to well attended meeting with detailed presentations and good Q&A sessions. I'm thinking of going this year, but if it's just going to be the former I won't bother.

No, I am in agreement. The synergies look beautiful. WHS predominantly sports betting with large physical presence, 888 predominantly gaming on line. I'm sure each party has market leading systems which can benefit the other.

I hate these primary Bid offers - specially the ones that only last a few hours - it's a matter of luck whether or not shareholders find out about them. Also this said it is available via PB's partner brokers etc., of which one is ii according to their website, but there was nothing on the ii site.

That's true, but I anticipate there will be a call in the next few weeks.

"Volumes for the day may indicate if someone has started accumulating. I expect the volumes to be a lot higher than normal."

1,8m v average of 600k, so about 3 times average - when you get such a big move volumes tend to be higher anyway, so I'm not convinced it indicates a big buyer.

With net cash of £1.6m & £3.7m burnt in the last 6 months, and greater cash requirements as construction gets going, and no serious income for about a year, they are obviously going to have to tap shareholders again.

You'd hope so, but I've no idea. To quote a great man, markets can stay irrational longer than you can stay solvent.

It's just been down down down for months without nay really bad news to drive the fall.

Should be helping

I agree with my Noble Lord. But I wonder how you arrived at 320 being a fair price. Consistently profitable companies are always expected to be valued considerably above their net asset value, HAT's NAV is 348. At the interims their EPS was 13.1. If we double that for the full year (which is probably conservative) to 26.2. What do regard as a reasonably PE? 15? That would suggest a share price of 393. And business is booming: at the half year stage profits were up over 20%. Growth like that usually commands a higher PE.

And I wonder what the reference to being an AIM share means. AIM shares may often be more "dodgy" but HAT have been in business over 100 years.

"Berenberg said in a note to clients it was “not too concerned” by the China delay,"

When you've got £200m+ on your books timing of income isn't that critical.

As I keep saying: Weichei will not let Bosch take Ceres over & Bosch won't let Weichei take them over. Can not see any truth in the rumour.

I don't really understand why people keep suggesting there will be a take over of Ceres - with Weichei & Bosch each holding about 20% I can not see either letting the other take over Ceres.

I saw no evidence in the results (though I have not studied them that thoroughly) of any income from interest. Surely with over £200m in net cash they must be earning something on that money.

Also appeared on Ian King Live this morning

35! I'm expecting 3 digits at least when 2 or 3 contracts materialise.

Tomorrow is their AGM. I had planned to go, but have a cold so wise not to.

If my memory serves me correctly at most AGMs the share price rises. Let's hope for that tomorrow. If anyone is going it would be great to get a review of it.

At least with interest rates going up & CWR sitting on tons of cash they should be earing some nice interest.

It is crazy that it is trading lower than it was 2 weeks ago when they have issued a trading statement saying profits will be significantly ahead of market expectations.

I suppose we should all do a Buffett and be brave when others are fearful; but every time I've done that of late markets get even more fearful

The other Buffett quote of relevance is Markets can stay irrational longer than you can stay solvent!

Of whom? It won't be Ceres while Weichei have a 20% stake.

He's not going for 12 months - it looks like it will be a smooth, well planned hand over, so do not understand the drop today.

"Cycling boom looks to be over,"

As part of the net 0 strategy the Gov't committed to double cycling from 2013 to 2025 (without really defining what they meant. That is getting closer - I know the Gov't has some pretty hefty priorities but we need to hold them to account - we all need to write to our MP and ask the Gov't to report on that objective and if they are not on track what are they going to do about it?