Member Info for yamaha865

Good analysis, but you are double counting property and P&M in Shire which would form part of any acquisition. Agreed that £22 or so is a reasonable break up price target

Good stuff, cheers. I'm not making any investment decisions based on it but as a holder hopefully we get a good result!

Thanks both. So presumably the claim is for $11m plus damages? Any ideas on quantum and timeline?

Can anyone point me to a resource explaining the litigation the business is involved with, or give a quick summary? Much obliged!

I would personally think that is unlikely, given previous disposal announcements haven't been preceded by any noticeable price movement. Would be nice if it was the case though!

Also to note the last buyback Volvere did was at 1290p, since then we've had Shire have a significantly improved H1 performance, and the acquisition Friday. Plus should be a little extra cash in the business from Shire's activities

Worth noting the NAV of Shire includes only cost price of acquisition, the revalued FH building and the current value of capex expenditure. The business will be worth much more than its NAV.

The RNS for the sale of property said expected completion 5 February- a bit disconcerting that there has been no RNS confirming completion? The share price slippage is strange and a bit disconcerting, on the face of it these seem absolute stonking value. Also the finance costs for year to Sept 15 were £1.6m- is it a reasonable assumption that eliminating the net debt through sale of the studios could pretty much add this to the bottom line? Trying to find a reason not to keep adding here, I'm probably a bit too invested in this one already!

Also just noticed with £16m sale of freehold property has a leaseback at a 'nominal' rent- nice deal!

Look pretty good, operating profit £4.9m in an odd year. MCap looks a bargain.

10 Sept last year..

When are we expecting??

Littlewoods have already won- is HMRC appealing? Also, my understanding is that Sportech would not be able to claim compound interest (or actual economic loss) unless a protective claim for such has already been filed. Anyone know whether this is the case?

I don't think the VAT claim is 50:50, I would be very surprised if Sportech don't win at 2nd Tier

Why is a VAT claim which amounts to most of their market cap a side show? And any basis for saying they will probably lose or just mindless conjecture?

£160m seems a bit low, where did you see that estimate? (I'd be happy with a payout of that though!)

Interesting that the High Court has ruled in Littlewoods that compound interest is due on overpaid VAT- would bump up the value of Sportech's claim several times over (should they be successful in the claim that VAT was overpaid of course)

YE is 31 March, when are we expecting a trading update?

I accessed via Lexis Nexus, I assume its publicly published somewhere though

Having read the 1st tier tribunal ruling, I'm close to certain they will win again at 2nd tier. Hopefully HMRC wont appeal again and the cash will be paid!