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Interesting article.. didn’t pick up on the major gaming partnership piece before - purely speculating on my part (no background or rumour!) but CD Projekt are a large gaming company from Poland I’m sure, with PURE previously being polish wonder if this could be the partnership.

For me it’s the fintech angle that I’m interested in.. seems to be pushing more of the banking cash back piece so really exciting to see where it goes.

Seems like further update and things moving forward

Ludus S.A. sold its operating company Ecap Esport Ltd to the indirect main owner of Ludus, which is the English company Esboz Ltd.

Esboz is currently in the process of listing Ecap on the UK Stock Exchange through a so-called reverse takeover ("RTO") of an already listed company.

The RTO process will include a name change whereby the named entity will be renamed Pure Sport Group PLC ("PSG") and the App will be renamed PURE.

The sale of Ecap to Esboz was paid for in the form of a debt note which will be repaid in PSG shares, as a result of which Ludus will become the main owner of PSG, which will have a positive impact on Ludus' equity.

PSG's listing is expected to be finalized no later than August 2024.

If you would like further updates on PSG please go to https://puresportgroup.com/

Does anyone know to what extent the Bermuda piece makes a difference.. seems to not be as clear cut as usual routes in uk/usa etc

One piece mentioned that provisional liquidation in Bermuda Is a valuable protection for imperilled boards of companies in the zone of insolvency, where creditor threats to commence winding up proceedings can distract from the primary task of implementing a financial or operational restructuring to ensure that the company may continue as a going concern…

No idea from my side but wonder if more to this

Was tongue in cheek.. could say any investment is always a gamble of some sort.. just varying levels (and your own view) or risk vs reward

Think all roads point to the admin route as folk saying - I took a small punt on this few months back with hope of the deal and so almost wiped out now! - however there’s a part of me thinking if (and a big if) if the deal as previous is completed and company is restructured then could be significant gains to be made (I’m probably mad!)

Slater understandably selling down for tax benefits on the loss of guess and won’t take the risk - think they will be out by end of today - but the optimist in me sees a (very small) chance of turnaround. The joys of investing!

It’s interesting when you read the baFin (fca equivalent) notices on suspension..

The operator of a multilateral or organised trading facility (“trading venue operator”) can suspend trading with a financial instrument or remove this instrument from trading….. This applies in particular if

1. the financial instrument no longer complies with the rules of the trading facility,

2. there is a suspicion of market abuse

3. a takeover bid has been published in relation to the issuer of the financial instrument.

Now could be any of these above ofcourse but interesting there is a potential .. why still trading here etc no idea but interesting to see what happens.

Seems like slight update on timing (but also is probably quite useful for our own timelines)

Pursuant to the Agreement with Esboz, the deadline for settling the sale price was extended from June 30, 2024 to August 30, 2024. The change in the deadline results from the prolonged procedures for listing an entity on the UK stock exchange.

Could be back at 1.5p.. could also be at 15p.. amazes me the amount of people who know what’s going to happen and aren’t on a yacht in Monaco.. just do your own thing that works for you in shares that you want to invest/ trade in.

Think it was lack of liquidity more than anything else high energy but cando might correct me.

Interesting how everyone views it differently which isn’t a bad thing as none of us know what’s going to happen and adds to the discussion. My view (right or wrong in the end) is that if wanted to takeover I’d be doing it pre D4E when the company is in a distressed state.. otherwise after than happens the new equity funds will be looking for a much larger return and so you would end up paying more for the business

And sorry you can’t compare petrofac to lamprell.. completely different scale .. lamprey struggled against larger (tier 1) competitors in rig building plus we’re exposed to the exploration market. Petrofac cover more of the lifecycle that not many globally can do.. I’d guess you would want to keep the brand as carries weight across the globe in the industry... as I said, not great the position it’s got into but there is potential for recovery/ takeover

Molativ, pipeline/backlog means confirmed orders for the group. And with debt presume sidara will walk away from wood now they have debt?

Not sure a tier 1 global service company is quite in that bracket.. debt to service yes, but a billion pound pipeline is very attractive

Think the drop was a lack of liquidity previously., could be an interesting recovery play.. main market too is a bonus

Something looks likes it’s happening .. if takeover Middle East money I’d guess, wouldn’t expect it to be sidara buying two at once though. Sure if you were in hubs like aberdeen, Houston etc there would be in the know chat going around

I’d guess there is the potential of takeover here.. my guess would be Middle Eastern investment of some kind (similar with what’s going on with wood) with the billions in backlog etc.. but I’d think not for faint hearted with risk plus would think you’d be talking 300-500 is million in my view rather than mad money.

Won’t be concluded until September this year if gets approved , plus believe they have liquidity until then so could potential move around a lot during next wee while depending on events.

I feel enquest went through something similar few years back (ironic that they were spun out of petrofac!)

I’m not a Chartist in anyway but (correct em if I’m wrong!) but surely there is a Substantial gap from the drop and how that could play out with positive news?

Strikes me as the too big to fail type so will be saved and built back up

And to add now find that ludus is a polish entity which late last year agreed to sell all shares in ECap Esports ltd (the esports gaming part of the business) to esboz (all linked) ..

Translation of document below..

Report content:

Management Board of LUDUS S.A. based in Warsaw (hereinafter: the Company) informs that today, after the Extraordinary General Meeting, it concluded an agreement with Esboz Limited based in Great Britain, under which it sold 101 shares constituting 100% of the shares in the Company's subsidiary - Ecap Esport Ltd. based in Great Britain, for the price of PLN 63,690,158.69.

Moreover, the Parties allowed for the possibility of settling part of the sales price through the Company's purchase of shares in Esboz PLC, but such an option will expire after June 30, 2024.

SIGNATURES OF PERSONS REPRESENTING THE COMPANY

Date Name and surname Position/Function Signature

2023-12-14 Fredrik Pettersson President of the Management Board.

What’s very interesting is that value is around 12.5m GBP!