Member Info for wolfhound

Enlarged group has a combined 2014 EBITDA of $ 175m - pg 61 prospectus - conservative. Current SP = £ 2.98 = approx. PE 13 Target SP Barclays (£7 rebased) = £ 3..66 = approx. PE 16 Target Numis = £ 4.50 = approx. PE 20 Comparative - The enlarged group is very similar in size to PTEC ( EBITA of €190m) which currently trades on a PE ratio of 20.96. IMHO - current price is not yet reflective of the enlarged group ( as deal has yet to be officially closed) - as deal moves closer to being completed I anticipate that SP will be rerated in line with PTEC - healthy rise towards Numis target SP of £4.50. DYOR GLA

@tech - indeed and solid advice, each broker may have different deadlines, i was driving off the prospectus dates but there may well be additional deadlines imposed by the brokers.

no advantage of paying too far in advance of the 1st may - other than not having to worry about a mistake. You should be able to have funds sitting on account and have broker execute just before the deadline. price is fixed at £1.66 and that won't change - the fully paid rights won't be available to trade until they are admitted to market on 5th.

http://www.directorstalkinterviews.com/optimal-payments-plc-52-5-potential-upside-buy-rating-reiterated/412661758

quick calc - my brokerage a/c is already showing Nil Paid with trading value and I have reverse engineered today's price to compare to yesterday's close as follows: Current Trading prices TERP= 3.01 Nil Paid = 1.31 Reverse Engineer for pre NP position : 1 x TERP +1.67 X NP = 3.01 +(1.67*1.31) = 5.24 Yesterday close = 5.05 Increase of 19 p or 3.8%, still some way to go here to get back up to the 5.75 peak which IMHO will happen over coming two weeks.

pleasure Gandolf. RNS can be a bit verbose and legalise :) @technimentalist posted a great link( below) on the 24th March that details it all clearly - see page 3 timetable on the download http://www.edisoninvestmentresearch.com/research/report/optimal-payments19 GLA

@Gandolf, you should give your broker a ring to confirm exact details, but as a rule of thumb you have until the 1st may to exercise you rights as follows: a) 16th shareholder approval - pretty much a certainty b) 17th Nil paid shares issued on a 5 for 3 basis - cost of purchase £1.66 c) you can now sell these nil paid shares up until 1st May or c) pay the £1.66 and keep the shares anytime 17th - 1 May ( and put brokerage account in funds) d) 5th May - new shares are admitted for trading.

Ennismore closed out its 0.5% short position in last two days - that indicates that hedgies believe SP has gone as low as it will and it is likely to rise this week ahead of Rights Issue. AKO having already closed out its short position once deal was announced. GLA

Thornburg Investment Management a $61bn US Asset Manager increases its holding by 2mn shares and now holds over 5% (8mn+ shares) - sign of things to come ahead of next week's right issue me thinks

Key word is "significant" ......open to interpretation, a consolidation of Opay/Skill is not likely imho to fall within the definition as it is an amalgamation of two former separate business. Also OPAY would not have made the statement of FTSE and brought on new CFO with FTSE pedigree without have held informal conversations with FTSE first. I will stand corrected of course you have correspondence from FTSE confirming your view point ?

QPP is a very different animal, it did not have trading history , optimal and Skrill have audited accounts of their track record, so FTSE250 entry will not in my view be of issue. Furthermore the addition of a CFO with a FTSE pedigree adds gravitas to the application in due course. I wouldn't be surprised if this had already been discussed/broached with FTSE and the above items were "indicated" as requirements in order to secure a successful application. OPAY is just the type of fast growing firm FTSE wants to attract if they want to compete globally with the likes of nasdaq/nyse.

@samewise, I concur, probably an element of profit taking by long term holders (100/200%+ gains), yesterday pattern confirms your view with strong support at these levels and I think we will now kick on further from here over next month.

@iggly, my pleasure, and glad it cleared it up, GLA

https://bitcoinmagazine.com/19755/neteller-adds-bitcoin-funding-prepaid-mastercards/ that was quick they only just inked the deal, I am guessing they held off until after the Skrill deal announcement as it is likely to be added to Skrill also once deal goes through as part of the netwallet offering. Have ahead of Paypal who are rumoured to be looking at this. If this catches on as a means of converted bitcoins to hard cash could be v interesting for revenue growth into future. GLA

just reread - ignore bit after wolfhound out.... that was just earlier scribbles I meant to delete before post and missed

@iggly, you are incorrect that is not how it works. You are mixing up trading and the settlement of the trade. the cut off of the 14th has all to do with settlement process, not the trading value of the sp. The ex-rights trading date is the 17th not the 14th . The 14th is the last day for recording settlement for issuance of the nil paid shares ( rights) - appreciate that if you haven't been through this before the terminology can be a bit tricky and easy to mix up. Let me explain. If you sell up to COM 14th April - this is cum rights, the share registrar will record the new owner's name on the new share cert issued and this will cover the nil paid shares and old shares these will be dispatched on the 17th - you will be settled as normal by your broker. If you sell between the 15-16th you still sell cum rights and you will settle as follows: a) If you use broker/electronic trading your broker will probably automatically inform the registrar of new owners name on your behalf and the registrar will issue old shares and new nil paid shares to the new owner directly - you will be blissfully unaware of the process operating in the background and your account will be credited - possibly a day or two longer than normal depending how on the ball your broker's back office is. So in this case you will be settled into cash in say 3-4 days If you have paper share certs and sell after the 14th it becomes a bit more long winded in settlement. You will have sent in old share cert to broker. However as registrar was using the register of the 14th you will receive the nil paid share certs in the post sometime after the 17th. You will then have to surrender them to your broker/ executing broker that sold your shares on the 15th/16th. your broker will not settle the trade you executed on the 15/16th ( pay you your cash) until two days after they receive the original share certificate plus the nil paid share certificates. This all happens snail mail so easy that a week/10 days might pass before you get the cash. In all cases above the proceeds you receive will be the sales price you executed at less usual fees and commissions - so it has nothing to do with value received but all to do with the timing of when the trade settles. that is why the 14th is the cut off date ( ahead of the vote on the 16th and issuance of the 17th) - settlement of share sales is typically 2 clear business days so that is why they put it two clear business days ahead of the issuance of nil paid shares. Hopefully you are no longer bothered :) enjoy the evening. Wolfhound Out :). If you are old school and still like paper But if The nil paid shares are issued on the morning of the 17th and not before.

Hi Iggly, my pleasure and good luck, we all need to do what our circumstances dictate, hard earned !! I hope you take a few moments to enjoy gains so far, not all about the money some is about the journey :) but hard cash always bring a contented feeling :) Best Wolfhound

@moorhey - agreed, the £40bn is where I think this will go and the market growth is there to make that happen - PAYPAL being the case in point :) but perhaps soon than 10 years.

@iggly, hi - the earliest date at which the new "lower" price can be established is after market close on the 16th - after the rights issue is approved at AGM on the day of the 16th. Until that officially happens this is in legal terms just a figment of the Boards imagination - that said I can't see this as more than a formality - but a formality none the less. 14-16th April is just about admin window to allow for admin of name on nil paid rights to be recorded and processed ahead of trading on the 17th - after all there is quite a lot of them - some 300mn+ I like your thinking but hard luck my friend your scenario just doesn't pan out. I think you are tying yourself in knots in relation to what that new price will be - that will be academic - important thing to understand that assuming you execute/sell your rights you will be no better or worse off financially on the exact opening of the market on the 17th April as you were when the market closed on the 16th . So your only focus between now and the morning of the 17th is where do you think the SP will be on COB - If SP rises then the " new lower price" on the morning of the 17th will be at higher end of your scale below and vis-a-versa. From everything I have seen so far I think current SP still has legs between now and the 16th- and that is why brokers also upped their target SP - not all the good news is yet priced in IMHO, granted markets will move up and down between now and then also. With the initial rise on the news I think the big boys will wait now until closer to the 14th and then want to jump in to secure the rights. there is also about 2m shares still shorted and my guess is they will want out before the rights issue as that will push them further short on a rising stock. But that is a call everyone needs to make for themselves. GLA

@long invest165 - in a word yes. The only realistic way you can loose value is to ignore your rights and let them lapse unexecuted. Either accept them and pay the £1.66 per share or sell the rights ( see dates below). The cost of the rights are £1.66 per share which is heavily discounted (60%+) to encourage everyone to take up the rights and also reduces underwriting costs. key dates : Apr 14 - recording date - whoever is on the shareholder on the registrar at this date will be beneficial owner of rights when issued as nil paid shares. April 16 - AGM formal approval to proceed. COB Apr 16 - new shares for the rights will be issued on a 5 for 3 basis as nil paid shares April 17 - you will own your original fully paid up shares plus the nil paid with a combined value = closing value from 16th and nil paid shares start trading ( at this point you can sell the nil paid shares). 1 may is the latest date to accept rights issues 5 may - announcement of the results of the rights issue, commencement of trading in new shares, all shares are now traded as fully paid.