Member Info for Pianista

Presumably accreditation will enable cruising to restart as planned, even if a vaccine has not been fully rolled out by then. So it’s a safety net.

At last, the company has broken its silence on cruising, and with a really positive RNS to boot.

We should now cruise through 300p...

Next game-changing news could be from the AA regarding its strategy for getting the Smart Breakdown numbers up. No need for them to wait for the change of ownership to get cracking on that. They just need to be sure that the takeover will be going ahead, which they'll probably know within a few weeks.

JDF7, make it a piano concerto and you're on! Mind you, it it does get to 130p, I'll be miles away sipping ****tails in a sunny tax haven...

Never been in better shape since it floated in 2014 at 130p from memory. The potential for further SP growth is massive.

Trade data on this website for today (Wed), ie 7 trades totalling 91,000, is completely wrong as usual.

The official London Stock Exchange website shows 16 trades totalling about 250,000 shares.

Olmsey, his shares didn't even exist before they were "allotted" to him. He was the first holder of the share certificate covering the shares that were issued to him (assuming he holds his shares in certificated form; it makes no difference though if he holds his shares in uncertificated form). So there'll be no contract note, for example, saying that Saga has "sold" X shares to RdH.

Hi Batfasted, there's no further restriction that I'm aware of, so he could buy some tomorrow in the market at £3, say, if he wanted. You might have in mind that, under the Takeover Code, if he gets to 30% (together with a certain associate), he would have to make a cash offer to all other shareholders at the highest price he paid to a vendor in the previous 12 months. However the shares he has acquired so far were not purchased from any vendor, rather they were issued to him directly by the company, so the 27p top price that he paid, or its post-consolidation equivalent, is not relevant for this purpose either.

Sir R has a Relationship Agreement with the company under which he cannot SELL any shares within 12 months (to avoid adversely affecting the SP), but there's nothing to stop him BUYING more. I just don't think he will.

Google also showing closing price 19.6p, +35% on the day. Wouldn't be surprised to see it move into the low 20s this week.

That's great Doofus. Enjoy the ride!

I'd be over the moon with £5.

I do tend to be cautious with my predictions though, eg I was predicting 35p for the AA takeover, which turned out to be spot on, while others were coming up with 80p, £1 and more.

Saga is no AA though, and predictions between £5 and £10 could well come to pass.

So am I. Smaller profit than I'd have liked, but it goes some way towards offsetting my loss on Flybe (which still rankles).

Also, nice to prove those clowns at the FT wrong: in early August, they were saying "finding any value in the equity would be a challenge".

Doofus - I've just noticed that while my back was turned writing my last message, the SP has jumped 10% - the first sign of life in months!

Doofus - All I can say is, I have 100,000 Trak, built up at much higher levels than the current SP, and reckon that now is definitely not the time to sell.

I certainly can't see the SP going any lower, especially with the AA news, so if I weren't already invested, I'd definitely be making it part of the proverbial balanced portfolio - but sooner rather than later, because I feel that we could be at a pivotal moment in the company's history, and if the SP does start to move, it's likely to do so in quantum leaps: 50% in a matter of days wouldn't surprise me.

Having said that, I hesitate to recommend any share to anyone: even blue chips like BP and M&S have proved to be poor investments over the past year or two, so anything can happen to any company.

But if you do decide to have a punt, welcome on board!

If "further investment in its digital platform" includes discounting SB to encourage take-up, this could be transformational for Trakm8.

As an AA and Trakm8 shareholder, this is probably the most compelling reason to vote yes to the takeover.

Most aspects have been well covered by others, so just a couple of specific comments.

1. There’s no sign in the update of any problems from cash-strapped Fleet customers, despite the previous trading update saying that they’ve “endeavoured to take a realistic long-term view in supporting these customers”.

2. The tax deferment of £1.1m has obviously increased cash, and reduced net debt. But I’m not sure what they mean when they say the “R&D tax claim of £0.86m was offset against agreed PAYE/NI deferments”. Does this mean if there’d been no R&D tax receipt (see note 13), the tax deferment would have been £1.1m + £0.86m = £1.96m?

All in all, the update could have been a lot worse, but after years of waiting I do wonder when or whether it will achieve the critical mass to turn a perennial loss into a spectacular profit, between which extremes there seems to be only a very fine line. The fortunes of a handful of major clients, like the AA, could make all the difference either way.

And the update was obviously not enough to spark any life into the SP, which really couldn't go much lower. So if management’s optimism about H2 proves to be overdone yet again, then rather than bump along for who knows how much longer, I can’t help feeling that the time will have come for Trak to face reality, and seek a merger of some kind while it still has plenty to bring to the party.

SP perking up in anticipation of the AGM I see. We might see 25p by the end of the week. If not, it won’t be long coming...

“(b) announce an offer on less favourable terms than the Proposal”

This is just standard wording. I wouldn’t read anything into that at all. In fact it is just as likely that they would increase the offer in response to shareholder reaction. My own feeling is that the offer will be unchanged at 35p.

The share consolidation isn’t helping, it’s making the SP look higher than it really is. We should be up to the relatively low level of the 30s in old money by now, which would imply £4+.