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Incredible company. Stellar results! FY26 guidance being left unchanged (even if it's a case of setting low expectations which can be beaten and raised throughout the year) could spook the market today IMHO. Now on a current year p/e of 52.5!

Ex div today but the share price has fallen more than double the divi %. One FINAL top up for me, which takes GBG to 17.2% of my portfolio and by far my biggest holding. Looks like Octopus may be selling down judging by yesterday's TR1 but i suspect only selling against its AIM VCT fund holdings in GBG, so not a total sell down. Really interesting opportunity this... What was once a UK tech darling is now trading at 13 p/e, like a value share. Crazy times.

When are we going to get details of shareholder returns? I'm sure it was promised for around now... dividend and/or share buyback.

Some decent volume recently. Are we bottoming here? I think this should be £3 AT LEAST. That would be a p/e of 15 to 16. Should be an easy 20-25 percent gain to make here... Famous last words!

Any partnership deal with a big pharma won't suddenly pay of the death spiral bond, not plug a whole 1/2 year of cash burn... Placing is nailed on

Please can you elaborate on this: "Christina strongly hinted at a deal for a third party warhead"

From the AR:

Directors have considered detailed cash flow forecasts … to 31 December 2026… forecasts indicate we currently have enough cash to fund our planned operations into the first quarter of 2026. The forecast therefore shows the Group … are dependent on raising funds … There are currently no agreements in place and there is no certainty that funds will be raised within the appropriate timeframe. This indicates that a material uncertainty exists that may cast significant doubt on the Group … ability to continue as a going concern... However, the directors have a reasonable expectation that the required funding will be forthcoming

Doesn't take a genius to see that a discounted placing is coming imminently. Especially when you consider the downward SP movement. Hopefully they do enough to remove the death spiral convertible bonds, as that is a noose that needs to be cut

You want news of a massively discounted placing?

400 p takeover put GBG on a p/e of around 21.5. Doesn't sound outrageous. Value outs in the end.

Maybe there are buyout discussions prohibiting them! Ha. I've bought aggressively post results and GB is now my biggest position as 15% of portfolio.

Jut the average i've seen over the years on the US markets. Alphawave IP was just bought for a p/e of 69. The average p/e for US listed tech companies is 29. If you take a 30% discount for the lowish growth at GBG, you're still looking at 50% plus from GBG current share price. mark my works, this is a massive bid target.

I should also add that the company (live share price 241 pence) is now trading at 1 times book value (242 pence as per annuals just published). That is RIDICULOUS for a profitable, cash generative tech company with low debt.

The recent track record of listed UK tech companies being bought by the US. GB is now in a handful of decent listed tech companies left on the UK market.

GB is now on a p/e of 13.5 with a very low debt balance, highly cash generative and in the middle of a business refresh/turnaround. I would be astonished if US PE houses are not running the rule over GB. It's EXACTLY their typical UK target - tech, low debt (so they can load up on new debt), profitable, undervalued versus US valuations (IS valuations are more like p/e of 18-20). A 40% premium bid feels so right. Let's see. If this falls below p/e of 13, management need to implement a LARGE buyback. The huge debt repayments can be stopped and the company could easily buy back 10% of its shares over the next 12 months - that would reduce the p/e further. In short, something has to give here...

On a forward p/e of 13 (as I make it), this is a sitting duck for US PE

@Retec

Incorrect statement to make my friend... Did you not bother to read the RNS?

Correct. The Board is going to recommend it (as per the RNS). Extension only 5 days, so the deal is 99% done. Key shareholders will have been consulted. It's game over.

110.6p. End of a log drawn out saga.

No doubt the bid is being pullled. Not disappointed with that tho. Plenty of value for the long term

I wonder if the WARE share price is rising purely because of an improving macro outlook - i.e. despite the fact the Blackstone bid is likely to fall through. Once the bid is withdrawn on 30 May (as the market is probably expecting), I wonder if we'll only see a small pull back in the share price? If it falls by 10% i think i'll load up, as the discount to NAV will look attractive again (i.e. circa 20-25%). What are we expecting on Friday?