Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Paddy Power owner plans to quit FTSE 100 in fresh blow to London
The owner of Paddy Power is poised to quit the FTSE 100 and shift its main listing to New York, delivering a fresh blow to London’s struggling stock market.
Flutter, which also owns PokerStars and Betfair, said on Monday it now sees the US as its “natural home” and will now work towards shifting its primary listing to New York.
While it would retain a secondary share listing in London, the shift would likely make Flutter ineligible for inclusion on FTSE indexes.
Flutter, which is worth £28.9bn, announced plans to pursue a secondary listing in the US last year and shares debuted on the New York Stock Exchange (NYSE) on Monday.
However, the company has upgraded its US ambitions following discussions with shareholders. Flutter will ask shareholders to vote on the plan at its AGM in May, with the move expected to take effect over the summer if it is approved.
Peter Jackson, Flutter’s chief executive, said: “With our NYSE listing effective today, this is a pivotal moment for the group as we make Flutter more accessible to US based investors and gain access to deeper capital markets.”
As well as Flutter, Irish construction group CRH last year shifted from London to New York and the British stock market missed out on the $54bn initial public offering (IPO) of Cambridge-chipmaker Arm.
The number of requests to float on the London Stock Exchange’s main market has plunged to its lowest level in at least six years, according to Financial Conduct Authority (FCA) data, while the number of companies listed on the stock market has shrunk by more than 25pc over the last decade, according to research from trading platform XTB.
Flutter is focusing on the US amid an explosion in gambling there spurred by a Supreme Court decision in 2018. The decision effectively ended a ban on sports betting at a federal level in every state but Nevada and has sparked a rapid expansion in the industry. US gambling revenues hit $16.2bn (£12.8bn) in the third quarter of 2023, according to the American Gaming Association.
While it is best known for running the high street bookie Paddy Power in the UK, Flutter also owns a majority stake in FanDuel, one of the US’s biggest sports betting firms. The US accounts for around 40pc of its business and sales there grew by 38pc to £3.6bn in 2023.
Mr Jackson said: “We believe a US primary listing is the natural home for Flutter given FanDuel’s No. 1 position in the US, a market which we expect to contribute the largest proportion of profits in the near future.”
the following lse members have confirmed they have voted against. since patel cannot take part in voting, our share of vote is higher than 2.07% and increasing. if you have voted and your names are not included please let us know by posting here.
lse name: shares holdings
b4zh: 9,000
madogmcree: 30,400
averyb: 22,231
thecatsback: 25,000
adelaide23: 32,700
matyboy1965: 39,100
crystalvoyager: 46,000
willder: 68,266
hallsworthy: 75,000
goldbu11: 100,000
steve0711: 144,000
annie59: 120,000
hope2gain: 126,000
gruyere: 132,107
marvell1: 141,500
mlec: 150,000
umbelli: 159,000
turrican: 200,000
softrock: 210,000
nigelbonger: 240,000
craigb: 250,000
magoo79: 250,000
jockilass: 300,000
jazz1978: 307,620
horogate4: 514,868
gilly1952: 521,000
mick-b: 525,000
accomp: 600,000
****goestheeassal: 700,000
jackson41: 1,042,271
kadavul & mrs: 1,050,000
jefuss888: 1,325,000
mog24: 1,499,200
1plus1: 5,131,391
g-g-g: 5,700,000
total no votes so far: 21,786,654 (2.07%)
"I haven't seen anything from Barclays yet - anyone on here with BARC?"
If you buy as execution only and your shares are kept in Barclays then you may call them and cast your proxy vote.
If yours is a paper base and you hold them certificate then Shanta will send you the voting card along with the take over documents.
This is from their website explaining -
"When you buy your shares through an ‘execution-only’ service such as Smart Investor, your shares are held electronically in the stockbroker’s name but you still remain the ultimate owner – known as the ‘beneficial owner’.
The immediate advantage of this arrangement is that the stockbroker handles the administration side of buying and selling your shares for you. This means your transactions are settled far more quickly. Electronic handling means no postal delays or risk of certificates being lost in the post. Dealing costs are cheaper, too.
Since the Companies Act 2006 (implemented in 2009), nominee account shareholders have the right to receive information such as company reports and notices about shareholder meetings. However, you have to ask for it – this information isn’t sent automatically. The best way to be sure about using a nominee account and retaining your rights as a shareholder is to ask at the outset whether the service will make it possible for you to attend AGMs, and whether you’ll be contacted if a corporate action arises."
Hope it helps to cast your all important votes with Barclays. Good luck!
Https://www.theaic.co.uk/how-to-vote-your-shares#:~:text=Alternatively%2C%20you%20can%20contact%20Barclays,on%20at%20the%20AGM%2FEGM.
lse id: voted no to date holdings
b4zh: 9,000 9,000
madogmcree: 30,400 21,500
averyb: 22,231 22,231
thecatsback: 25,000 25,000
matyboy1965: 39,100 39,100
crystalvoyager: 46,000 46,000
hallsworthy: 75,000 75,000
goldbu11: 100,000 100,000
annie59: 120,000 120,000
gruyere: 132,107 132,107
umbelli: 159,000 159,000
turrican: 200,000 200,000
nigelbonger: 240,000 240,000
craigb: 250,000 250,000
magoo79: 250,000 250,000
jockilass: 300,000 300,000
jazz1978: 307,620 307,620
horogate4: 514,868 514,868
accomp: 600,000 600,000
****goestheeassal: 700,000 700,000
jackson41: 1,042,271 1,042,271
kadavul & mrs: 1,050,000 1,050,000
jefuss888: 1,325,000 1,325,000
1plus1: 5,131,391 5,131,391
barry5: voted ???? ????
macaumike: voted ????
panda1: voted ????
ceed: trying to vote 30,000
spambrain: trying to vote 45,000
jammin86: trying to vote ????
dvharrison: mia 1,200,000
1755: mia 125,000
2wheelman & family: mia 878,000
4kandals: mia 63,227
adelaide23: mia 32,700
alanxx: mia 60,000
antanarjuato: mia 142,000
bankrupty: mia 128,888
bebold: mia 700,000
beechwood: mia 1,600,000
mi mia 45,500
bobslob: mia 50,000
bozonurky: mia 104,000
bubble2021: mia 100,000
cadell: mia 53,000
chappie: mia 110,000
cutters8: mia 400,000
cyberaichas & friends: mia 1,334,000
danners456: mia 185,000
e43: mia 470,000
ericmca: mia 700,000
geldautomat: mia 100,000
g-g-g: mia 5,700,000
gino73: mia 111,000
greyingsurfer: mia 100,000
harchris: mia 170,000
hope2gain: mia 127,000
hounddog10: mia 1,000,000
hythe1: mia 184,000
kat-079: mia 600,000
kipperfoot: mia 469,786
leamielemming: mia 1,750,000
longfell: mia 170,000
lowtrawler: mia 1,549,722
metis20: mia 195,000
mick-b: mia 525,000
mikeha: mia 145,000
mimbrit: mia 250,000
minty77: mia 30,000
mog24: mia 1,499,200
newsid: mia 49,473
noelshempsky: mia 1,000,000
oldmanriver: mia 250,000
publican777: mia 1,500,000
redhill: mia 1,300,000
richsoon: mia 190,000
rogerk: mia 1,000,000
rossannan: mia 202,000
s_o_h: mia 466,000
sharky1975: mia 1,240,000
skotkent: mia 34,000
softrock: mia 210,000
stephengali: mia 100,000
steve0711: mia 177,000
the_shareminator: mia 160,000
tony.addison: mia 346,000
toptiger: mia 180,000
tornadotony & mrs: mia 2,200,000
uktrader & mrs: mia 300,000
unclemal: mia 1,300,000
undercarriage: mia 32,000
unvrkw: mia 655,000
wanaka: mia 50,000
willder: mia 68,000
zooman80: mia 85,000
total no votes so far: 12,668,988 (1.20%) 48,986,584 (4.66%)
hope this will improve over the weekend. have a good week end.
lse id: holdings voted no to date
thecatsback 25,000
madogmcree: 21,500
hallsworthy: 75,000
goldbu11 100,000
annie59: 120,000
gruyere 132,107
nigelbonger: 240,000
jazz1978 307,620
accomp 600,000
****goestheeassal: 700,000
kadavul & mrs: 1,050,000
jefuss888: 1,325,000
barry5 ???? voted
macaumike ???? voted
panda1 ???? voted
jammin86 ???? yet to vote
total against votes so far: 4,705,127 (0.45%)
good start. if you are in any other bb kindly encourage them to vote against. at least we show our solidarity against the executive board.
Equanimity!
Tony expressed he holds 2.2M shares (3rd largest declared within these board) and said to vote "NO". There is no eviidence to suggest he sold his so why should he persuade others to sell? 4.51% vowed to vote NO. Here is our list of 1M or more holders said "no"
LSE ID: Holdings
G-G-G: 5,700,000
1plus1: 5,131,391
tornadotony & Mrs: 2,200,000
Leamielemming: 1,750,000
Beechwood: 1,600,000
Lowtrawler: 1,549,722
Publican777: 1,500,000
Mog24: 1,499,200
Cyberaichas & friends: 1,334,000
Jefuss888: 1,325,000
Redhill: 1,300,000
Unclemal: 1,300,000
Sharky1975: 1,240,000
dvharrison: 1,200,000
Kadavul & Mrs: 1,050,000
Hounddog10: 1,000,000
Jackson41: 1,000,000
NoelShempsky: 1,000,000
Rogerk: 1,000,000
GLA
shares in issue: 1,051,467,684 - 100.00%
total lse - no votes so far: 45,893,287 - 4.36% and 80 members updated holding details are given below in ascending order.
g-g-g: 5,700,000
1plus1: 5,131,391
tornadotony & mrs: 2,200,000
leamielemming: 1,750,000
beechwood: 1,600,000
lowtrawler: 1,549,722
publican777: 1,500,000
cyberaichas & friends: 1,334,000
jefuss888: 1,325,000
redhill: 1,300,000
unclemal: 1,300,000
sharky1975: 1,240,000
dvharrison: 1,200,000
kadavul & mrs: 1,050,000
hounddog10: 1,000,000
jackson41: 1,000,000
noelshempsky: 1,000,000
rogerk: 1,000,000
2wheelman & family: 878,000
bebold: 700,000
****goestheeassal: 700,000
ericmca: 700,000
unvrkw: 655,000
kat-079: 600,000
mick-b: 525,000
horogate4: 514,000
e43: 470,000
kipperfoot: 469,786
s_o_h: 466,000
cutters8: 400,000
tony.addison: 346,000
jockilass: 300,000
magoo79: 300,000
uktrader & mrs: 300,000
craigb: 250,000
mimbrit: 250,000
oldmanriver: 250,000
nigelbonger: 240,000
softrock: 210,000
rossannan: 202,000
metis20: 195,000
richsoon: 190,000
danners456: 185,000
hythe1: 184,000
toptiger: 180,000
steve0711: 177,000
harchris: 170,000
longfell: 170,000
the_shareminator: 160,000
mikeha: 145,000
antanarjuato: 142,000
bankrupty: 128,888
hope2gain: 127,000
1755: 125,000
annie59: 120,000
gino73: 111,000
chappie: 110,000
bozonurky: 104,000
bubble2021: 100,000
geldautomat: 100,000
greyingsurfer: 100,000
stephengali: 100,000
zooman80: 85,000
hallsworthy: 75,000
willder: 68,000
63,227
alanxx: 60,000
cadell: 53,000
bobslob: 50,000
wanaka: 50,000
newsid: 49,473
bittentwiceshy: 45,500
spambrain: 45,000
matyboy1965: 39,100
skotkent: 34,000
adelaide23: 32,700
undercarriage: 32,000
ceed 30,000
minty77: 30,000
madogmcree: 21,500
total no votes so far: 45,893,287
Major shareholders are those with shareholdings of 3% or more.
The below table summarises the Company's major shareholders as at 30 September 2023:
Shares in Issue
1,051,467,684 100% of Company
Retail Holders % held
1 Hargreaves Lansdown (Retail) 10.51%
2 Interactive Investor (Retail) 7.83%
3 AJ Bell (Retail) 3.42%
Total 21.76%
Institutions and other holders
1 Sustainable Capital 8.30%
2 Lombard Odier Investment 7.10%
3 Directors (Insiders) 5.91%
4 River and Mercantile Asset Management 4.94%
5 Canaccord Genuity Wealth Management 4.75%
6 SIX SIS (Custodian) 4.75%
Total 35.76%