Member Info for stuffee

Thought Winvia looks promising. Involved in online gaming in Romania as well as operating popular prize draws for flash motors as Best of Best at airports. Controlled by Teddy Sagi, who had great success with Playfair; I'm confident he will have another success with Winvia before probably selling in three years. Profitable and modestly rated at present, and expects to expand through acquisitions and rejuvenation of targets.

If all interest on the new convertible is rolled up, the effective conversion price drops to 38p, (50p X 100/130). This has created an attractive arbitrage for ordinary holders to sell their existing ordinarily and switch into the new convertible, providing they are able to hold unquoted for three years. I guess the ordinary will continue to weaken at least until the subscription date of 9 Feb for the convertible.

I regard Bell as attractive opportunity, with its cash constraints, created by its decision to build up raw materials over last few months for its own manufacturing, now resolved. The agreement with the Chinese to start production within a few months, financing their own required inventory, will generate further cash. With its best in class product, I suggest exciting prospects.

Neither EQN nor Siris have denied the strong Sky news report of proposed 170p bid. Disgraceful that EQN has made no response, 36 hours after this proposal was Skyed - false market? 170p represents over 40% premium to 110/120 trading range over recent weeks and compares to IPO price of 165p five years ago.

Although current trading under Covid pressure, I suggest long term EQN's prospects look pretty sound and I guess fair chance of auction developing once some announcement made.

This a reasonable proposal from a creditable source and IMO Board has duty to engage.

I imagine the Wellesley proposal was not that clearcut. For instance, it might have involved injecting all or part of W 's operations into U, in exchange for a major shareholding in U, effectively giving W a backdoor listing for its business, which appears quite complementary to U. Such a transaction would not have needed much cash. It would have been difficult for U to evaluate and explains why U decided to send them packing, even if W claim it was worth 73p per share.

U has been informing its major institutional shareholders that it is still committed to some form of break up to return 70p (or thereabouts) to its shareholders.

ADG
With respect, I suggest any Director/ Founder buying ahead of any MBO is highly unlikely. Folk get locked up now for buying ahead of any bid, where they are insiders, (unless they are the sole bidder). I also suggest any valuation re an agreed MBO would be difficult and very controversial. I've held Plus for nearly 7 years ago and I, with I suggest many others, would be most reluctant to agree to any MBO at less than double the present price, bearing in mind its terrific prospects in these extremely volatile markets with likely massive divi yield.

I guess one of the accounts may be Braun, part of Proctor & Gamble - See Campaign Article 14 Dec 2018
https://www.campaignlive.co.uk/article/mediamonks-poised-beat-wpp-braun-digital-account/1521191.
Not bad start for his acorn to have landed part of P&G after only 6 months.

Beamer

I think new institutions subscribed at just over 10p not 11.7p. Page 44 of prospectus sates they bought S4 shares at £1.17 and these were then exchanged for Derr on basis of 1.163 Derr for each S4, equivalent to 10.06 for each Derr.

I would dearly like some of this but still feel price will retreat after 28 Sept when all the new lock up free shares available; existing Derr shares are just 1% of future shares in issue.

Don't think the lock in is as tight as you suggest. Page 46 of the prospectus states the new group from 28 Sept will have 255m shares, (after consolidation) of which institutional investors will have 139m or 54%, These funds bought at equivalent of 10p (100p after consolidation) and will dictate the future price. There's no indication there are any lock ups on these shares and I guess they will be tempted to sell at any big premium over 100p.

I agree the market will be extremely tight before 28 Sept and could go anywhere, but I fear big collapse on this date. I would certainly like a few but would not touch this before 28 Sept.

Mick, Sundayroast, Graphite, could I suggest you look at prospectus before piling in and risk disaster.