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well spotted Appleby - it is not being reported as part of normal volume as far as I can see as it was an OTC trade - we should see an RNS I just checked it out on London Stock exchange 13:47:06 08-Mar-2017 410.00 2,500,000 10,250,000.00 OTC Trade Immediate Publication

????? Appelby - where are you seeing a 10m trade

Good conference call - seems JL is "fairly far down the runway" with a possible acquisition. He has over the course of Q&A also divulged that the aim is to do a $70-$100mn EBITA ( 1/3 size bolt on) deal and there is about $1bn firepower in the Balancesheet for Debt piece of acquisition. Hopefully they execute soon on the M&A - otherwise with planned double digit growth (21% achieved 2016); 30% margin ; only $280mn of debt and still only trading on a PE of 10 - PAYS itself looks highly suseptible to a bid IMHO

Absolutely - in terms of growth- CMO+CIO+ 2 NED's with senior Technology, Pharma and Consumer Product knowledge - add credibility to PAYS offering with future partners yet to be announced - areas targetted for GOLO expansion of the "click and collect/deliver" product. I think it is just a matter of time.....

@wallyb - management had given the same guidance for 2016 of "low double digit organic growth" - in 2016 they actually achived 21% organic growth ( constant currency basis)

and for comparative ...here is today's Today Open : 421.50 Low : 417.27 High : 425.90 Close: 422.60 also relatively flat on the day

Here is why you shouldn't over-read into today's sp - below is the sp bahaviour on the day before Skrill acqn was announced Pro-forma sp ( adjusted for dilution effect) Open : 243.79 Low : 235.08 High : 246.69 Close: 243.06 so like today - it was relatively flat

@phoenix - just to pick up your point - is my M&A view driven by charts ? simple answer - No - it is just that charts act as a way of reinforcing my view and let me explain why JL has been talking about "bold M&A" and a market Cap of $10bn - the graphs simply tell me that the ii ( real movers of this stock) buy that perception and things are following the same pattern again

I set 425p as my target sp pre the publication of results on the 7th back on 19th Jan (post 482) - I know a few folks thought I was slightly mad in that call - more thought that I needed prompt medical attention :) - now on for the next piece of my target with hopefully M&A announced on the 7th and sp rocketing by 50%+, I will repeat my point from that post - prior to Skrill we traded on a PE of 18.4 compared to current PE 10/11 - despite having reduced the "single asian client( Bet365) down from 30% to 13% - so a re-rating is long overdue with or without M&A activity - with hard financial numbers from 2016 it should be easier to prove these levels with actual hard audited numbers and draw a line under it so we can move on. Otherwise PAYS will get taken over IMHO. After all our growth rate for 2016 - was targetting "low double digit" - actually achieved 18% LFL !!

We are still 10% below where the sp was before the shorting attack and we rrade heavily discounted to peers in terms of PE multiples - so from that perspective there is no reason it should fall, and in fact we have a buy back programme that is still in place if required - so little or no incentive for additional shorter activity. Currently the sp has not priced in any M&A activity - in the same way as it didn't prior to Skrill announcment. All we can say for certain is that the graphs are looking very similar - with some unique features such as golden cross also appearing this time round. That said - only 2.5 business days and we will know for sure GLA

I agree we seem to have broken with the traditional PAYS "trading" pattern - as witnessed by the emergence of a golden cross - this is only the second time in more than 10 years that we have seen that signal on PAYS last time was the Skrill acquisition announcement.

50 DEMA crossed over 200 DEMA - onwards and upwards !!

whilst I wouldn't disagree with much of what you say Uncle John re analysts - I think the difference with PAYS is that they are saying that it is trading at a massive discount to its peers as it trades on a PE of say 11 to peers PE of 18+ ( PE of 28+ in the USA) .... it was reported on another board that Morgan Stanley in their research report supporting their upgrade that a "deal was close" and that underpinned their view that a re-rating was due and most likely will happen in tandem with a deal being announced. Subject to the terms of a deal being announced then I think we could see 600p comfortably - pre any deal I suspect we will see new highs - i.e. increase of 40p in the next 7 days. Breatheasy - glad my ramblings were of some use re shorts

agreed - but I think we were discussing a new high which is 5%-10% above current sp The fact the analysts are suggesting the sp should be up 50% makes the 5-10% in the short term a very attainable result - IMHO - anyway not long to go til the 7th I see theyh just announced GOLO has officially launched in Montreal with rolls out planned for USA, UK and EU in due course.

oops typo; should read 610p not 650p....my bad

PAYS traades on a PE of 10.8 at current sp ; a move up to 480p+ would still put in on a PE of sub 11 - not that big a challenge; hence why target prices of Analysts are up at 650p.........

IMHO all indicators are pointing to new highs ahead of the 7th

looks ready to pop any time now

the 50D MAVG ( currently at about 380p) will need to cross over the 200DMAVG ( 401p) Good news is the influence of the 13th December ( sp of 305p) is about to drop out of the 50 MAVG( day 49) and sp trend post 13th was upward - so by default the 50DMAVG should now trend northwards ( assuming current sp holds its own)

We had the 20 DAVG crossing the 50DAVG one month ago and now we are wisker shy of the 20DAVG crossing the 200DAVG with the 50DAVG just behind it !! nice lead into the publishing of final ye results in less than 2 weeks !!