Member Info for Myfairlady

ts247 - that ramp made me smile. That news is so old that it was predicting a share price at the end of 2014 (incorrectly!) Keep up the good work

My 9 July prediction might be right. I don't know anything about this business but this has all the hallmarks of a Teddy Sagi related business acquisition - Israeli staff, offshore registration, digital marketing / affiliation - I reckon he found a way to get a 100% dividend out of Netplay rather than share it with the other shareholders! Happy to be proved wrong if anyone knows anything more about the ownership of the Otherside

Ok - having looked at the accounts, I agree with Harry's view of the GIS numbers. The question that I'm left with is what other costs are not included here. Specifically, this refers to GIS performance - does this mean that the OCT plc expenses are not included, such as Board, Nomad, other plc costs etc or does one think this covers all costs. If this was the case, wouldn't it be called an Oct plc quarterly update? This is the only way I can justify the current share price, although if one assumes continued growth in GIS, it still looks like a buy even factoring in plc/ head office costs as profit for the year should exceed £1m comfortably and the business has some other assets/investments too.

Thanks for the input Harry - didn't intend to mislead. Will try and take a closer look later tonight as something isn't quite right here, the share price for one thing if that is actually the profit before tax figure.

Not disagreeing with the growth potential here but operating profit isn't the same as earnings as, most significantly, admin expenses need to come off as well as any interest, depreciation, amortisation and tax.

Not that it really matters but there was post-period news in the interims. They state that the £112k of share sales was since period end and the valuations in the commentary are as at the date that the interims were published not end-April. On your other question, maybe they think 3Legs has more growth to come?

The results said they sold half of their stake in AVP and their remaining stake at that time was valued at £51k.

Hi Paris, I was going to say something similar as I look at the financials a bit differently. They need about £500k each half year revenue to break even assuming margins and costs stay consistent. Accordingly, they need to contract £310k more in the rest of the this year. So your 5 contracts of £65k is pretty close I guess assuming the creditors remain supportive to a certain extent with the current net liabilities position atb

Strange share price movement today considering results were exactly as anticipated with no additional news and cash diminishing. Maybe something going on behind the scenes or they're close to some new contracts. Good sign of posting results early though.

Fair enough - let's move on - life's too short. All the best with your future investments.

What? Not capitalising on anything - just providing some more info. Nice of me to apologise although not sure I misread anything and these minutes show that the closure was approved as set out in the April Board pack - the contract is in run-off As you've riled me, i'll make the point that I wasn't going to, which was that I thought it was a bit wrong to have a dig at me and make some positive comment about the lack of the need for a placing at the very time that you later admitted that you were selling out last Friday - smells a bit

It seems like ages ago when I first mentioned the Leicester closure a couple of months ago and got ripped into by Megabux and others. Guess everyone is more realistic now and Megabux has even moved on! The minutes approving the closure of that project came out some time ago - haven't seen it on here although may have missed it. It's interesting as it acknowledges the reduction in admissions and makes clear that the main reason was due to reduction of number of patients. One person commented that they thought it was too expensive. https://www.leicestercityccg.nhs.uk/wp-content/uploads/2015/06/Paper-B-LCCCG-Governing-Body-Minutes-14-April-2015-SL-checked.pdf Remain of the view that the RNS announcing the renewal of the contract is a positive spin on a contract in run-off.

Sunshinequeen - you may be interested in looking at recent evidence of low multiples being paid for subscale gaming businesses this week Unibet - £19m acquisition of Stan James (been on the market for about a year or so) and 32Red's acquisition of Roxy Palace (largely in shares) Very difficult being small in this highly competitive market-place

The issue I have here is that the cost base of the business is so big compared to the size of the investments. Annual expenses are about 40% or so of the assets so if there is no growth the NAV drops massively each year. Kenv is a great result but they only invested 25k in that whereas RAME is where the bulk of the investment here is and that is below 50% of its peak. Guess they will have to sell something or raise money at a low price to pay next years wages.

Fair point Megabux. Maybe they've cut their cost base then as the revenue side is pretty transparent and my calcs thought one would be nec. I'll be interested in the interims in September

Fine - let's just agree to disagree. Let's discuss again once there are numbers available.

Ok put it in the heading instead! Not going to carry this conversation on - the only metrics I really care about are earnings and these only seem to be going in one direction, the wrong way, and that's before POCT impact. Good luck with your holding I'm done now

Just repeating that something is significantly undervalued doesn't make it so. Do you know how NPT has coped with POCT in H1? Last rest their EBITDA margin was below 15% and this year they have an additional tax of 15% on revenue - do the maths. Until you know the answer to this, how can you be so sure it is undervalued?

There are no numbers yet but it could be something like £450m cash plus £450m of GVC shares at today's prices. If there was a big move in GVCs price between now and finalising the deal, they might tweak the number of shares. Or they could just use an average price for the 20 days prior to the closing of the deal.

Knowing Sagi's usual tactics he's probably trying to persuade them to buy one of the companies he owns with the £12m cash balance they have - turns a potential 28% dividend into a 100% one. Fwiw, this has been up for sale for at least 5 years but I think gambling on tv is a but 20th century when everyone can now play casino games on their mobile and tablet.