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Very strange to see the shares up 5% and then down 10%

The RBC estimate of £350 million seems hugely excessive when compared to the average estimate of about £150 million or £200 million and the low estimates of about £50 million or even zero

Good results and now trading at only 50% of £10 asset value

Would not be surprised to see these back at over £8 next year

In our view, Close Brothers’ shares remain beaten up and, therefore, whether you are looking at historical or sector-relative valuations, they screen as cheap,” Benjamin Toms, an analyst at RBC Capital Markets, said in a note.

“The bad news around the FCA’s review of motor finance is now well embedded into consensus and net interest margin and loan growth assumptions are sensible.”

The Playtech directors already get millions in salary

So why should they take or steal a further €100 million from small shareholders?

Did they tell Playtech shareholders before the €2.3 billion sale to Flutter that they would be taking a 6% cut of it for themselves? No

It is a bit like a stockbroker selling your shares, or an estate agent selling your house, and then telling you after the deal is done that they will be taking an extra 6% cut of your money for themselves

The deal will obviously be voted through by the Institutional shareholders because they are all in the same crooked club, but many of the smaller and individual Playtech shareholders will rightly view the €100 million bonus for Playtech directors as a legalised form of fraud and theft

If someone steals £100 from someone on the street then they will probably go to prison

But the Playtech directors can apparently steal €100 million from small shareholders and get away with it

The €100 million bonus for Playtech directors is disgusting greed and legalised theft

Gruyere

I assume that the robbery by the Playtech directors is all part of the same deal

The €134 million bonuses clearly stink and shareholders should obviously vote against them

And bonuses for what? It was the sale of a subsidiary company and a normal business transaction so why are €134 million of bonuses required for the normal sale of a business?

Do the directors not already receive a very high salary from the company? So why are €134 million of extra bonuses required?

It looks more like theft from shareholders of 6% of the sale price

Shareholders will probably be wary of getting fleeced again with the remaining business

Https://www.investorschronicle.co.uk/content/86f80d1e-8818-581f-abdb-4033459c4057

Phoenix Group offers 10% Dividend Yield - BUY

"The results on their own terms were a qualified success as the company clearly looks on course to meet its target of cash generation of £1.4bn-£1.5bn for 2024 after generating £950mn during the half; organic cash generation was up 19 per cent to £647mn"

Broker Peel Hunt said: “We remain positive long term on Phoenix, as its business model transitions towards becoming a broad-based pension provider, and the back book continues to throw off a significant amount of cash (cash yield c20 per cent).” We agree with that view, with the shares trading at 1.1 times tangible assets and a hefty 10 per cent dividend yield. BUY

Massive profit taking is likely from the billions issued at 4.8p

Would not be surprised to see these fall back to the placing price of 4.8p

There may be significant selling and profit taking over the next few days and weeks from the billions of shares that were issued at the 4.8p placing price

The price could even return to 4.8p or lower

Anyone know how the valuation of GGP compares to Solidcore which used to be Polymetal?

Is GGP better value at current prices?

Would not be surprised to see these fall back quite a long way to below £20 as GD are obviously set to win the Georgia election in October

hxxps://www.fitchsolutions.com/bmi/country-risk/georgian-election-georgia-dream-retain-power-despite-civil-unrest-03-09-2024

"In our view, the incumbent Georgia Dream (GD) party will win the general election on Saturday 26 October, amid accusations of electoral fraud from the opposition and street protests.

We think GD is prepared to weaken ties with the West significantly in its next administration, stalling the country’s EU integration indefinitely and risking sanctions.

Under GD, Georgia is likely to slip further into Russia’s geopolitical orbit in the years ahead"

Significant currency risk also after the election

Would not be surprised to see these fall back quite a long way to below £25 as GD are obviously set to win the Georgia election in October

hxxps://www.fitchsolutions.com/bmi/country-risk/georgian-election-georgia-dream-retain-power-despite-civil-unrest-03-09-2024

"In our view, the incumbent Georgia Dream (GD) party will win the general election on Saturday 26 October, amid accusations of electoral fraud from the opposition and street protests.

We think GD is prepared to weaken ties with the West significantly in its next administration, stalling the country’s EU integration indefinitely and risking sanctions.

Under GD, Georgia is likely to slip further into Russia’s geopolitical orbit in the years ahead"

Significant currency risk also after the election

Good chance of a takeover now at 45p

Cordiant is the most likely bidder

This must be a very strong takeover target now with a PE of only 4 and a dividend yield of nearly 9%

It was only a few months ago that Shore Capital had a price target for OSB of £8.35

“OSB shares trade on a 2024 profit/net asset value of 0.8 times and a price to earnings of 4.1 times. Our fair value of 835p implies that there is still plenty more to go for”

Lloyds, or NatWest, or Nationwide, would probably be the most likely bidders for OSB

A bid of £6 or £7 would probably need to be offered for OSB as the price now is so low

8.6% yield and a very low PE of 4

OSB at £6 or £7 is probably a very good addition for Lloyds

Damofarl

Did you see the question on the FAIR chat page?

There are not many shares with a PE of only 4 and a yield of 8.5%

Peel Hunt: ‘Add’ OSB Group

OSB Group (OSB) has disappointed the market with its first half results but Peel Hunt has faith in its balance sheet and buybacks

The return on equity is likely to remain at mid teens levels and the balance sheet remains strong, as seen in the future £50m buyback announced

Over the longer-term the prospects for OSB are attractive

PE 4.1

Dividend yield 8.5%

BUY

Yes Lloyds could easily afford £3 billion or £8 a share for OSB

It is difficult to find many banks, or any other companies for that matter, offering a forecast PE of only 4 and a dividend yield of 8.4%

Secure Trust Bank has a similar low PE but the 3.5% yield is disappointing

Halyk Bank also has a similar low PE and a yield of about 12% but there is a significant currency risk

Barclays had a price target of £8 last year, and if OSB was trading in the US the valuation would probably be 2x or 3x the present valuation of £1.5 billion

It certainly looks vulnerable to a takeover now, and OSB would be a very inexpensive addition for any of the big banks, Nationwide, or even PE, at a takeover price of £6 or £7

A very undervalued bank

Forecast PE of just over 4

And a dividend yield of over 8%

This must surely be on the radar now for a takeover by one of the big banks

And they will probably have to pay OSB shareholders about £6 or £7 to get it