Praesepe Share Discussion Threads

[jpjp100] 14/5/2010 08:21

:-)

smashing, three of them putting their money where their mouth is

[sscrabble] 13/5/2010 17:22

and nick harding is one shrewd cookie ! Tempted to buy more of these.

[ukinvestor220] 13/5/2010 17:02

Praesepe ("Praesepe" or "the Company"; AIM: PRA) has today been notified that
Nick Harding, Group Chief Executive Officer, Matthew Proctor, Group Chief
Financial Officer, and Byron Evans, Group Commercial Director, have purchased
shares in the Company.

Nick Harding purchased 135,000 ordinary shares in the Company at 7.5p per share
on 12 May 2010. Following this purchase Nick Harding now holds an interest in
1,314,090 ordinary shares in the Company representing 0.36 per cent of the
Company's issued ordinary share capital.

Matthew Proctor purchased 135,000 ordinary shares at 7.5p per share on 12 May
2010. Following this purchase Matthew Proctor now holds an interest in 405,000
ordinary shares in the Company representing 0.11 per cent of the Company's
issued ordinary share capital.

Byron Evans purchased 55,000 ordinary shares at 7.5p per share on 13 May 2010.
Following this purchase Byron Evans now holds an interest in 115,000 ordinary
shares in the Company representing 0.03 per cent of the Company's issued
ordinary share capital.

[jpjp100] 30/4/2010 10:03

smashing, suitably restrained writing by the PRA team

I am very optimistic

Roll on a European deal now, that will really cheer me up

[ukinvestor220] 30/4/2010 09:11

it certainly is sscrabble - i reckon these people know what they are doing. one to sit on and check every now and then imo.

[sscrabble] 30/4/2010 08:32

results as expected - got to be a great growth prospect

[jpjp100] 26/4/2010 07:40

all on my birthday too!

[trigger45] 20/4/2010 14:51

Interesting times indeed.

[sscrabble] 20/4/2010 14:42

RNS Number : 4498K
Praesepe PLC
20 April 2010

20 April 2010

Praesepe plc

Completion of Acquisition of Beacon Entertainments Limited

Praesepe plc ("Praesepe" or "the Company" or "the Group", AIM:PRA) is pleased to
announce that it has today completed the acquisition of Beacon Entertainments
Limited ("Beacon" or "the Target") ("the Acquisition") on the terms previously
announced by the Company on 30 March 2010.

This is Praesepe's fifth acquisition, bringing the total number of operating
sites in the Group's estate to 86, comprising 76 Adult Gaming Centres ("AGCs"),
six bingo clubs and four Family Entertainment Centres ("FECs").

The Directors of Praesepe believe that the acquisition of Beacon is a
transformational deal for Praesepe:

· Substantially increasing the Group's UK AGC footprint and entering the
bingo market will create a step change in revenues and EBITDA
· The enlarged group capital structure, supported by additional leverage
created by the enhanced debt facilities, will create a stronger financial
platform for the Company
· The benefits of scale will enhance the prospects for earnings per share
growth for shareholders
· The Board is strengthened by the addition of Brian Mattingley as an
Executive Director for business development

The Acquisition is in line with Praesepe's stated strategy to build a
diversified gaming group by pursuing acquisition and consolidation opportunities
in the low stake high volume ("LSHV") betting and gaming sector in the UK and
Europe.
Praesepe expects to announce its preliminary results for the 52 weeks to 27
December 2009 on 30 April 2010.
Nick Harding, CEO of Praesepe, said:

"This is a transformational deal for Praesepe as we continue to deliver our
strategy. Beacon Entertainments gives us greater scale in our AGC business,
which will help deliver shareholder value, and takes us into the mainstream
bingo sector, which we believe is poised for growth. Taking on the debt
previously held by Beacon also transforms our capital structure and gives us a
flexible platform for growth.

We are very pleased to bring the prestigious Beacon Club in Cricklewood into the
Praesepe portfolio. We feel confident that we can integrate this acquisition
quickly and maximise the potential of all the new sites. I also welcome Brian
Mattingley to the Praesepe Board, who brings with him significant experience in
our industry."

[sscrabble] 16/4/2010 12:33

Into AIM on Tuesday - should that have any impact on the price ?

[ukinvestor220] 12/4/2010 08:11

Praesepe taking a punt on liberalisation of bingo and slot machines

Monday April 12,2010
By Philip Waller

GAMING outfit Praesepe is taking a punt on the liberalisation of bingo and slot machines after snapping up a rival in a reverse takeover.

Besides the £5million ticket price, Praesepe has also taken on £40million in bank debts as part of the deal to buy Beacon Entertainments.

The enlarged group expects to be re-admitted to the Alternative Investment Market on April 20.

Beacon runs 26 slot machine lounges under the Showboat brand and six Beacon Bingo clubs, including a prestigious venue in Cricklewood, London.

Praesepe's gambling lounges include the Crystal Rooms casino in London's Leicester Square. The firm said the deal, expected to produce savings of £2million a year, would allow it to enter Britain's £1.7billion bingo market.

Measures such as the smoking ban have hit bingo halls hard, but admissions are beginning to stabilise.

The industry has also benefited from Government moves to cut bingo duty and allow new slot machines offering more games and bigger prizes.

Praesepe said the "low ticket" nature of the slot machine market and the good value it offers has helped it to weather the recession. Nick Harding, Praesepe's chief executive, said: "This acquisition provides Praesepe with an excellent platform for growth."

Formerly Aldgate Capital, Praesepe was formed in 2007. It made its first acquisition in July 2008, which it has re-launched as Cashino. Beacon, based in Leicestershire, employs 500 people and will be Praesepe's fifth acquisition. It will bring the firm's total number of sites to 86, including 76 adult gaming clubs, six bingo clubs and four family entertainment centres.

Gaming industry veteran Brian Mattingley, who joined Beacon as executive chairman in April 2009, will become an executive director focusing on the integration of Beacon into the group.

[ukinvestor220] 07/4/2010 18:18

prelim results 16th

[sscrabble] 07/4/2010 17:59

Someone must be selling at any price - they are so cheap !!

[ukinvestor220] 07/4/2010 17:52

someone got stitched up big time today on that 250K sell at 7.5

[jpjp100] 02/4/2010 08:17

so, PRA market cap at yesterday's closing price was

£25.15m

based on 300,113,638 shares in issue

does that leave approx 140m shares authorised but not yet issued?

[sscrabble] 31/3/2010 14:29

Looks like a large investor getting rid of their holding - thats why I got them at 8.4p

[jpjp100] 31/3/2010 13:47

Also, I wonder if the enlarged share cap now makes them a viable target for some bigger funds - you know, those that can only buy into companies with a market cap above £xxx in their internal rules

I hope so!

[jpjp100] 31/3/2010 13:44

the debt is good imo

where else would praesepe get a £40m facility from in these times of banking crisis?

Let's say its at base +3 or whatever was around at the time of Beacon doing that restructure, it gives PRA some nice potential firepower once they get Beacon singing

[sscrabble] 31/3/2010 12:02

Just bought 30000 of these , got them for 8.4p which was a surprise, expected tp pay 9p.

[brownie69] 30/3/2010 15:07

Wow an ambitious deal! loaded up with debt though.

My guess is that on target intergration is key. Then any increase in spend per head will fall straight to bottom line.

Grateful if any research is published following this deal if anyone could provide a link.

[abbey8] 25/3/2010 17:20

wait and see.

[jpjp100] 19/3/2010 08:59

a little update on the www.prasepeplc.com website

- microbingo
- B3 stakes
- EGM
- an invitation

worth a read

[jpjp100] 11/3/2010 13:49

So, this deal must be close to closing or being killed now. The drop dead date is 31 March as per the announcement so we are near to an announcement on it imo.

I hope it gets done and I hope there isn't much of delay in announcing other deals - ideally one of the European ones mentioned in the last announcement.