Member Info for Lasvelas

Interims or no interims, the BoD failed to deliver over the years. I am sure they paid themselves well. no more chances, one positive news is not going to make up for what has happened over the years. Change is good and they need to act by either trying to get an improved offer or just accept what is on the table. To my eyes, they are not doing anything, just sitting and waiting for another letter to arrive in their email inbox.

SAG has a plan. They are mopping up all possible shares thry can 6.5p. clearly there are sellers and they want the cash now, don't want to wait for all formalities to happen. They may or may not hit 30 percent , they will request an extraordinary meeting to be held and push for current director(s) to be voted down. Other shareholders will support that, including me. They will force they way. I don't understand why the BoD doesn't get it.

Thank you! They sold their business. They are scared to loose their jobs because they failed to deliver returns to their shareholders and are acting like they care a lot. We (small retain investors) have little say. Someone is coming to try to offer better future for the business, let's let them have a go. SAG may not increase the offer substantially (maybe a little bit). They will sit still and wait. If TP is not doing well, in one years time the 6.5p will be off the table and another offer may not be there or be lower.

What percentage of the company is owned by the directors? Anyone?

That deal is not on offer at the moment but i see no reason why it could not improve slightly in that direction.

The latest RNS says it clearly, TP are wasting everyone's time.

two things happened recently, Paypoint settled with OFGEM (12.5mil - not small but sight of relief that it was not more) then directors bought in, which showed a sign of confidence. the tide has turned hopefully...

goolang - where is this coming from?

My worry is TPs books are not great and they cannot ask for much more. Would love to be wrong...

And dont worry too much about the funding. They would not put 6.5p on the table without being able to get it to them.

Who cares about covid. And BoD should listen. They can want whatever they want if they owed most of the business. They have no skin in the game, they have little say. Yes, i want 10p as a shareholder. It doesn't matter what i want. The big boys will vote for it or against it.

This is my point. During negotiations TP should show their books and say to SAG your bid needs to reflect how we are doing. I believe this is normal course of take over negotiations. TP wont get a higher bid just because they think it is too low. The bid is not low based on the share price prior to this happening.

As much as i would like another bidder in the mix i doubt this is likely to happen. I do agree they are trying to move things along to make it happen.

Agreed, but it's a waste of time if they are not going consider their bid seriously, which is what I read into this. If they know they will reject it, dont waste time asking for this. If they are to consider it properly then fine, but i am not convinced. That's all i am saying. I may be wrong obviously.

As i said 6.5p bid. You can all disagree with me but TP's response is a bit of a rubbish. The reason why the offer is indicative is because TP is not talking to SAG. So they have to be sending legal letters back forth. Waste of time. Once the number appears correct it goes in as a firm bid officially. TP should stop wasting time, come to the table and discuss. The other excuse of not seeing a confirmed funding is a silly excuse. If there is no agreed number why worry about funding, that will come as a result of agreeing the bid. They would not be offering 6.5p if it was impossible to fund in first place. TP get a grip and get on with it i would say.

At this point in time i think the bid is 6.5p. i am sure they are talking to the street, i.e. other bid share holders if they are interested in selling out. Things take time. Once they know who is or is not interested they will get a sense where to pitch the take over bid. Let's be honest SAG will not want to over pay equally they want to succeed in getting this done and wrapped up. They will be lots of possible scenarios of the final outcome but we just have to wait and see.

Depending on SAG's relationship with Cannacord, they will buy them out next week or if not.
Otherwise I see SAG making a take over offer for TPG, especially as the directors didn't want engage with them. They will offer some cash and new equity in SAG. Not sure on the rules and what percentage would be required, i guess 75% of votes in favor for it to become effective.

If i am not mistaken SAG has a month to make a bid, if no bid made they cannot make another one for 6 months. So clearly they want to position themselves as best as possible before making one.

It's got to be 6.5p or they will pee off Ruffer

Ruffer LLP is out, bid likely to come in at 6.5p