Parseq Share Discussion Threads

[harrytrad3] 19/10/2011 07:28

Algorithmic thanks.

I endorse Heralds position and continue to hold

[mel_d1] 18/10/2011 20:27

OnTheBrightSide, if 90%+ was needed to force an offer the last 10 or 20% would want the earth for it. 30% is good enough to make an offer. The next significant figure (I guess because you have won control of the board by virtue of holding majority) is 50%. Below is an extract from takeover code:

9.3 CONDITIONS AND CONSENTS
NB This Rule should be read in conjunction with Appendix 4.
Except with the consent of the Panel (see Note 3):-
(a) offers made under this Rule must be conditional only upon the
offeror having received acceptances in respect of shares which,
together with shares acquired or agreed to be acquired before or during
the offer, will result in the offeror and any person acting in concert with
it holding shares carrying more than 50% of the voting rights; and
(b) no acquisition of any interest in shares which would give rise to a
requirement for an offer under this Rule may be made if the making or
implementation of such offer would or might be dependent on the
passing of a resolution at any meeting of shareholders of the offeror or
upon any other conditions, consents or arrangements.
NOTES ON RULE 9.3
1. When more than 50% is held
An offer made under this Rule should normally be unconditional when the
offeror and persons acting in concert with it hold shares carrying more than
50% of the voting rights before the offer is made.
2. Acceptance condition
Notes 2-7 on Rule 10 also apply to offers under this Rule...

[onthebrightside] 18/10/2011 12:11

Can someone confirm that Cassis needs 90% + of shares to compulsorily buy up all our shares ?
If this is correct, with Herald now holding 10.92% 20m of which bought at 7.5p, and the rest of there holding probably bought at a higher price? they are now king maker or Not. Hopefully Not. If they do sell I beleave they will require a significant premium to the 7.5p price to cover there total investment and news flow over the next six months.

[the heed] 18/10/2011 10:55

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

(a) Purchases and sales


Class of relevant Purchase/sale Number of securities Price per unit
security
---------------------- -------------- --------------------- ---------------
Ordinary 1p share Purchase 20,000,000 7.5p
---------------------- -------------- --------------------- ---------------


latest disclosure... 20m @ 7.5p? something a bit smelly?? roses or shi&*

[harrytrad3] 18/10/2011 09:43

the heed ifs buts and maybes

The games afoot.

Rememeber that the RC contribution to PSQ included a lot of debt maybe he is a busted flush may be he is not.

Maybe there is a white knight within the company.

Hopefully, the institutional investors he wants to speak too (hasn`t he had lots of time to do this already) will show him the door.

[the heed] 18/10/2011 09:19

Why would he sell ? why is he trying to buy it? i suspect that if it fails, then he will retreat into the background ( is that a oxymoron?!) lick his wounds and try again in six months time ... unless he has leveraged himself to buy more and he can't afford the cost...the market will tank it on the day of the news ( if its a no.. before the bottom feeders appear.. aimho.

[abbey8] 18/10/2011 09:17

Good morning all , I thought we might see some movemnents on the share price today , oh well back making the tea.Gla

[666james] 17/10/2011 19:03

It would be good for the Blackcurrant to clear off..trouble is he has a load of the shares !!

[mel_d1] 17/10/2011 17:34

Darius was right. Cassis hasn't got his 50% yet. We will have to see the price movement over the next two days, with interest :)

[harrytrad3] 17/10/2011 17:28

Not so simples necessarily.

Can the extended deadline be extended again?

Can he not subsequently make a different offer through a new entity (Bidco 2?)

Would be best methinks if he just cleared off.

I want to buy more but without his shadow about the place.

[algorithmicx] 17/10/2011 17:28

"In light of recent share trading activity and following conversations with certain of the Company's institutional shareholders" is the key sentence.

Let's see who has the fastest brokers tomorrow morning!

[abbey8] 17/10/2011 17:24

Thank you for your details Darias , I think most of T20 and T10 will start buying in .

[algorithmicx] 17/10/2011 17:24

Pick of AIM - in today's Growth Company after announcement. Can't get access to full article :(

[darias] 17/10/2011 17:19

You have to buy now with spare cash.

Either the bid is accepted, which is unlikely, or a new higher offer will be made.

Last trading statement said that,

"Operating profit before exceptional and other items of GBP1.041 million (2010: GBP1.039 million) despite challenging market conditions for services division and investment in technology and marketing"

"The Software business has achieved excellent revenue growth compared with the first half of 2010 in the comparative group, primarily due to new contract wins. These include the major mobile banking contract with O2, and digital solutions contract with HML, as well as on-going projects at Barclaycard and Generali. We have continued to invest in product development in the first half of 2011, particularly in the mobile banking platform, as well as sales and marketing capabilities. Total investment during the period was GBP1.1 million (2010: GBP0.7 million). Our mobile banking capability has attracted significant market interest and the O2 contract, secured following a competitive tender, was a very pleasing recognition of our ability to provide a complete mobile banking service.

Our digital and mobile IT capabilities have also generated interest from a number of global software businesses looking to provide additional services to their clients. This has led to three new partnerships in the period, notably FIS Global, Callatay & Wouters and Experian, with a fourth signed after 30 June 2011 with TSYS. In Europe, FIS Global and Callatay & Wouters are looking to add mobile banking functionality to their core banking clients. The partnership with FIS Global represents an exciting opportunity as it expands our geographic presence into Asia. We are providing mobile self-service capabilities to TSYS credit card customers in Europe and online debt management functionality to Experian's UK customers. We have already won our first customers through our partners and these new partnerships, together with our existing partnerships with First Data International and Unisys, give us a significant platform to drive strong organic growth. "

Following announcements like that the value of the company at today's price of around 30m is ridiculous. The institutional holders would be crazy to accept 7.5p so there will either be an increased offer or blackcurrant will go away. He really has until the weekend to get himself sorted. He has already had a month! When the deadline was placed and a month before that. He has to put money on the table and institutional shareholders want more.

Algorithm is absolutely right - it is time to load up.

[abbey8] 17/10/2011 17:15

Tomorrow will be testing day for this share , might get another 20k , it is good time to buy at rock bottom. Gla

[algorithmicx] 17/10/2011 17:10

Rami knows it a bargain at 7.5p. So will be forced to pay a fairer price - 10P+ imho.

[harrytrad3] 17/10/2011 17:08

21st October (not Novemeber).

How shabby to announce that a minute late and to let thiis nonsense drag on further.

Which poster said 4 weeks ago that this could not go on beyond today?

PS Algorithim why load up?

[algorithmicx] 17/10/2011 17:04

Time to load up!

[666james] 17/10/2011 17:03

Looks like the 21st Nov is the new deadline....it's under "news" at the top of the page issued a few mins ago

[666james] 17/10/2011 17:00

Darias ....864 from the heed seems to indicate that there is an extension but no date has been mentioned. Its a shame that there is no "white Knight" hanging about. Still, stand by your beds and see what comes.

[algorithmicx] 17/10/2011 16:54

In accordance with Rule 2.6(a) of the Code, the Potential Offeror must, by not later than 5.00 p.m. on 17 October 2011, either announce a firm intention to make an offer for the Company in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer,

5pm is the time...