Member Info for rick43

We expect an interim trading update in August and interim results in September - when we hope an interim dividend will be announced - and possibly another special dividend. This is a link to the 2014 interim results http://www.investegate.co.uk/jqw-plc--jqw-/rns/interim-results/201409090700111347R/ Regular dividends are needed to move the sp up.

from 2014 finals "Strong cash position improved in 2014 by RMB 50.6 million to RMB 394.7 million despite total dividend payments of RMB 114.4 million during the year" So current cash is likely to be well in excess of £40mn and yet the current m.cap is £15mn. Crazy!

Interesting - 17:10:33 yesterday almost 1 million at 399p

from today's RNS "The Board anticipates that profit for the full year should be of a similar magnitude to last year." Profit forecast of c. £20mn before tax for 2015 on basis of first half 2015 trading (or is it first 4 months?). That is about £1.7mn per month. That is about the same as the current market cap. and is about the same as full year 2014. Big disconnect between share price and earnings. sp far to low. No debt.

From the June 1st RNS "To effect the Acquisition, Brighttech (a wholly owned subsidiary of Playtech)..." So Brighttech is a member of the Playtech Goup and we see from p.6 of the Information statement that “a simple majority of the votes cast at the Special General Meeting (and, for the purposes of calculating the simple majority, Section 320(c) of the Israeli Companies Law provides that any votes cast by or on behalf of any member of the Playtech Group or Brickington Trading Limited (which holds 33.6% of the issued share capital of Playtech) or any other shareholder holding 25% or more of the issued share capital of Playtech shall be disregarded).” So the 9.3% Brighttech voting rights shall be disregarded in the Plus500 vote at the Special General Meeting.

I need to take more notice of the difference between owning of shares (Odey 19.53% of PLUS as at June 2nd) and owning CFDs (Odey 5.96% of PLUS as at June 2nd). Also I need to take more notice of the difference between voting rights (Odey 19.53% of PLUS as at June 2nd) and NOMINAL voting rights (Odey 5.96% of PLUS as at June 2nd). CFD ownership does not confer actual voting rights.

The 18th June FT article said that Odey only holds 19% - this is not correct. According to the June 2nd RNS Odey has 25.49% voting rights. - see A+B+C towards bottom of the page - link is http://www.investegate.co.uk/plus500-ltd--plus-/rns/holding-s--in-company/201506020935289155O/ The FT article link is http://www.ft.com/cms/s/0/90fd91e8-15aa-11e5-8e6a-00144feabdc0.html#axzz3daG2k4Z0

justdeezerts - you will note that the 25% restriction prevents those who hold more than 25% of shares in Playtech - not Plus500 - from voting in the Plus500 Special general meeting on 16th July. For significant holdings in Playtech as at 31st Jan 2015, see page 61 of http://playtech-ir.production.investis.com/~/media/Files/P/Playtech-IR/results-reports-webcasts/2015/2014-report-and-accounts.pdf

Here is the link to the Information Statement: http://cdn.plus500.com/media/Investors/Announcements/Plus500InformationStatement2015.pdf and from p.20 - "Approval of the Merger Proposal by the Shareholders vote will require: the affirmative vote of holders of a majority of the voting power of Plus500 entitled to vote at the Special General meeting; and a simple majority of the votes cast at the Special General Meeting (and, for the purposes of calculating the simple majority, Section 320(c) of the Israeli Companies Law provides that any votes cast by or on behalf of any member of the Playtech Group or Brickington Trading Limited (which holds 33.6% of the issued share capital of Playtech) or any other shareholder holding 25% or more of the issued share capital of Playtech shall be disregarded). More anon...

jdz - where do I find the Information Document?

Not an answer to your question but related. Can anyone comment on Odey's ability to block the Acquisition of Plus500 by Playtech. Maybe the following will help. That 25% rule - see article 17 of http://www.plus500.co.uk/Docs/Plus500UK/AdmissionDocument.pdf In particular from 17.2 (p.108) "For the purposes of the shareholder vote of each party, the merger will not be deemed approved if ........ any person who holds 25 per cent or more of the shares ...... has voted against the merger." It is clear from the June 1st Acquisition Document (see below for the relevant abstract) that a simple majority is all that is needed to secure approval - however that Acquisition Document does not go on to refer to the caveat which we see in 17.2 above. "14. Plus500 General Meeting The Acquisition requires the approval of the Plus500 Shareholders holding a majority of the Plus500 Shares at a General Meeting. Such a meeting is expected to be convened as soon as possible by the publication of an Information Statement to Plus500 Shareholders." Also see mergers section in http://www.bagir.com/files/Takeover%20code.pdf Note also from the Acquisition Document that the acquisition will be regarded as a merger. "The Acquisition will be implemented by means of a merger in accordance with the Israeli Companies Law through the reverse merger of Socialdrive, an Israeli subsidiary of Brighttech, with and into Plus500 with Plus500 surviving such merger as a wholly owned subsidiary of Playtech."

From the acquisition RNS 1st june "In the event of a superior proposal, the Plus500 Board may change its recommendation to the Plus500 Shareholders and/or terminate the Merger Agreement, subject to the right of Brighttech to match the superior proposal and the requirement for Plus500 to pay a termination fee in certain cases (as described below)."

from http://www.forexfraud.com/forex-articles/as-the-ledger-turns-a-new-page-in-the-plus500-affair-normalcy-returns.html "Concluding Remarks All is calm at the moment, as the Plus500 Fiasco moves into its resolution phase. Client accounts are becoming unfrozen at a quickened pace. Complaints on this website have declined significantly, as customers report positive progress. It even appears that the Customer Service reps at Plus500 have managed their backlog to a minimum to the point where they can also respond to customer issues on our site, as well as their own and others. The documentation effort still has a ways to go, but fears are being allayed and confidence is being restored daily. The end game is in sight." date? but probably today.

Interesting to see that the large numbers on the ask at 69p or thereabouts, which have been around for a couple of days, have disappeared.

http://www.thisismoney.co.uk/money/investing/article-3103785/MIDAS-SHARE-TIPS-Quantum-Pharmaceutical-devises-prompts-people-medicine-alerts-carers-need-arises.html scsw, which came out over the weekend, must have been behind today's rise. It tipped QP. for the first time and the article covered much the same ground as the MIDAS tip but in more depth. Definitely one to buy and stack away.

in Mail on Sunday http://www.dailymail.co.uk/money/investing/article-3123022/MIDAS-SHARE-TIPS-Kromek-s-scanners-stop-make-bomb.html

dan - are you keeping an eye on isdx too? http://www.isdx.com/forcompanies/ourcompanies/companydetail/default.aspx?securityid=10416

Broker ratings on the above LSE tab are inaccurate! Here is a link to a more accurate list which includes Sanlam at 90p - but that was before the discovery of the 45 carat pair of pigeon blood rubies - http://sharedealing.nandp.co.uk/broker-views/GEM/Gemfields

Sanlam lifts target to 90p to reflect ruby sales success - and that with an estimate of only 34 million dollars from this month's Ruby sale. With the recently announced 45 carat pair, that $34 m sounds conservative. http://www.proactiveinvestors.co.uk/companies/news/68579/gemfields-ruby-business-poised-to-drive-growth-says-sanlam-79876.html Apologies if this has been posted earlier - I expect it has....

about the 45 carat pair http://tinyurl.com/okkwbd6