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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Praesepe | LSE:PRA | London | Ordinary Share | GB00B1263L43 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 5.625 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 5.625 | GBX |
Praesepe (PRA) Share Charts1 Year Praesepe Chart |
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1 Month Praesepe Chart |
Intraday Praesepe Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 21/7/2011 | 13:45 | Praesepe - a Cashino in every town | 364 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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Posted at 06/7/2011 18:03 by ukinvestor220 6th July 2011The offer by Marwyn Management Partners Plc (MMP) is offering to acquire all of the outstanding common shares of Praesepe has been declared unconditional in all respects, and will remain open until further notice. The terms of the offer are: For every 13.3 Praesepe shares held - 1 new MMP Ordinary share. Deadline: No deadline due to the offer being open until further notice. |
Posted at 24/6/2011 17:56 by sscrabble I do not get this - it appears the offer is unconditional and agreed - so if you buy some more pra shares now at 6p plus, are you not guaranteed one mmp share (presently 105p) for 13.3 pra shares ?? Where is the downside ? |
Posted at 02/6/2011 09:31 by sscrabble Nt sure this sounds good --- and now a big price drop !!Praesepe PLC 01 June 2011 1 June 2011 Praesepe plc Extension of waiver to banking facilities Praesepe plc ("Praesepe" or "the Company" or "the Group", AIM:PRA), the UK based gaming company, today announces that, further to its announcement of 19 April 2011 regarding the entry into a waiver and amendment agreement with, inter alia, The Royal Bank Of Scotland to amend the terms of the Company's senior credit agreement (the "Waiver Agreement"), the date for repayment of the remaining GBP2.35 million of the GBP2.5 million instalment originally due on 31 May 2011 (the "May Instalment") under the senior credit agreement has been extended until 17 June 2011. The extension of the date for repayment of the May Instalment under the senior credit agreement has been granted on the condition that MMP makes a formal announcement of an offer for the Company by 3 June 2011 and that such offer has become wholly unconditional by 10 June 2011. Praesepe has been in an offer period under the City Code on Takeover and Mergers (the "City Code") since 8 April 2011. The Company remains in an offer period and, accordingly, the Board confirms that the entry into the extension to the Waiver Agreement is being undertaken in accordance with note 1 to Rule 21.1 of the City Code. |
Posted at 19/5/2011 14:28 by sscrabble Not sure whether this is good, bad or indifferent !Marwyn Management Partners PLC 19 May 2011 Marwyn Management Partners plc ("MMP") 19 May 2011 Interim management statement for the period from 15 October 2010 to 19 May 2011 and update on possible offers for Praesepe plc and Marwyn Value Investors Limited. Introduction This interim management statement covers the period from incorporation on 15 October 2010 to 31 March 2011 together with relevant information up to the date of publication. Overview MMP was incorporated in late 2010 and raised gross proceeds of GBP6 million through a placing in January 2011 of Ordinary Shares and Warrants. The Group is now organised into three divisions - Consumer, Support Services and Industrials - with subsidiaries and management teams established in Consumer and Industrial. It has seven employees and five consultants in addition to having the benefit of the services of the Operator. MMP seeks to identify experienced management teams with proven sector expertise and, where they are at an early stage in the implementation of a strategy, support them, where necessary, to cover preliminary operational, advisory and due diligence expenses typically incurred prior to completing a management buy-in of a suitable target business. To date, the group has established, developed and funded two operating subsidiaries (Silvercloud Management Holdings Plc and Marwyn European Transport Plc) to more closely focus on and develop the opportunities identified by the MMP group, with the help of the Operator. The group's loss from incorporation to 31 March 2011 is GBP1.4m and the group retained GBP5.2m in cash at that date from the original GBP6m proceeds. Possible offers for Praesepe plc and Marwyn Value Investors Limited On 8 April 2011, it was announced that we were in discussions with the independent directors of Praesepe plc ("Praesepe") in connection with a possible all share offer for the entire issued share capital of Praesepe, of one new MMP ordinary share for every 13.3 Praesepe ordinary shares. Discussions in relation to the possible offer for Praesepe are ongoing although there can be no certainty that an offer for Praesepe will be forthcoming. Further announcements will be made when appropriate. On the same date, it was also announced that we were in discussions with the board of Marwyn Value Investors Limited ("MVI") in connection with a possible offer being made by MMP for the entire issued ordinary share capital of MVI (although not the MVI B shares or exchange shares), where the possible offer consideration for MVI would be new MMP shares and might include partial cash and loan note alternatives. In connection with the cash element of the MVI offer and for other general corporate purposes, MMP also announced we would intend to conduct an equity placing. Discussions with the board of MVI in relation to the possible offer for MVI have now ceased. Divisions Consumer Silvercloud Management Holdings Plc, is the first subsidiary established in the Consumer division, and intends to target acquisition opportunities within the worldwide luxury goods sector. We believe that there are significant investment opportunities to create shareholder value through a well executed, acquisition led growth strategy in this sector. Such opportunities include the acquisition of established brands that are underperforming as well as younger brands that have struggled to achieve meaningful scale. Industrial Marwyn European Transport Plc is the first subsidiary established in the Industrials division. It has an industry leading senior management team and has been established to pursue acquisition opportunities within the European transport sector. The management team includes David Leeder, a former main board member and Development director at First Group plc (as CEO) and Iain Lanaghan, a former Finance Director of First Group and founder and Finance Director of Abellio GmbH, the German bus and rail group (as non-executive Chairman). Together they have more than 30 years combined experience of building businesses in the bus and rail sector. We believe there are some exceptional opportunities for consolidation in the sector that offer attractive revenue streams, strong underlying cash generation and low volatility across the economic cycle. A copy of the interim management statement and further information about the Company can be found on the Company's website (www.marwynmp.com). Enquiries to: Marwyn Management Partners Plc 11 Buckingham Street London WC2N 6DF |
Posted at 28/4/2011 22:09 by praipus MMP was up at the close. I'm a holder of MVI who's share price had been doing ok but trade at a significant discount to NAV. MMP could be a useful vehicle for getting some cash back or having exposure to PRA and MVI's main holding ETO for the longer term. |
Posted at 08/4/2011 15:12 by sscrabble I don't get it - I am sure Nick said when he set it up that he was looking at maybe selling for 10p a share at some stage - they have been acquiring, building -and everything looks possible - so why on earth would they want to sell for that kind oif price (unless the Directors have been offered a 'deal' that makes it work to their benefit, but not for the shareholders ??)Could it also be that this lot have deliberately been manipulating the share price downwards to make the offer - we were at over 8 pence when they must have started formulating their offer !!! |
Posted at 08/4/2011 13:59 by topinfo 7.5p takeover!DJ Marwyn Management Partners PLC MMP in possible offer for Praesepe plc and MVI Ltd TIDMMMP TIDMPRA TIDMMVI RNS Number : 5968E Marwyn Management Partners PLC 08 April 2011 Not for release, publication or distribution, in whole or in part, in or into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. This is an announcement falling under Rule 2.4 of the City Code on Takeovers and Mergers (the "Takeover Code") and does not constitute an announcement of a firm intention to make an offer or to pursue any other transaction under Rule 2.5 of the Takeover Code. 8 April 2011 For Immediate Release Marwyn Management Partners plc ("MMP") The board of MMP confirms that it is in discussions with the independent directors of Praesepe plc ("Praesepe") in connection with a possible all share offer for the entire issued share capital of Praesepe of one new MMP ordinary share for every 13.3 Praesepe ordinary shares. Based on a price of 100 pence per MMP ordinary share ( being the price at which the MMP ordinary shares were issued pursuant to a placing in January 2011) the possible offer values each Praesepe ordinary share at approximately 7.519 pence. The board of MMP also confirms that it is in discussions with the board of Marwyn Value Investors Limited ("MVI") in connection with a possible offer being made by MMP for the entire issued ordinary share capital of MVI (although not the MVI B shares or exchange shares). The possible offer consideration for MVI would be new MMP shares which would value the MVI ordinary shares at their net asset value at the date of announcement of the offer ( based on a price of 100 pence for a MMP ordinary share) and might include partial cash and loan note alternatives which would value the MVI ordinary shares at a discount to such net asset value. In connection with the cash element of the MVI offer and for other general corporate purposes, MMP would intend to conduct an equity placing. The offer for Praesepe, if made, will not be conditional upon the MVI offer becoming or being declared unconditional. This announcement does not constitute an announcement of a firm intention to make an offer for either Praesepe or MVI. There can be no certainty that offers for Praesepe or MVI will be forthcoming. A further announcement will be made in due course when appropriate. Enquiries + 44 (0) 207 004 MMP 2700 Simon Pincombe Credit Suisse Securities (Europe) Limited (financial adviser to MMP) +44 (0)20 7888 1000 Angus Kerr Robert Mayhew Faisal Tabbah In accordance with Rule 19.11 of the Takeover Code, a copy of this announcement will be available on MMP's website at www.marwynmp.com Neither the content of MMP's website nor the content of any website accessible from hyperlinks on the company's website (or any other website) is incorporated into, or forms part of, this announcement. Credit Suisse Securities (Europe) Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting solely for MMP and no one else in connection with the matters referred to in this announcement and will not be responsible to anyone (whether or not a recipient of this announcement) other than MMP for providing the protections afforded to its clients or for providing advice to anyone other than MMP in connection with any matter referred to herein. Neither Credit Suisse Securities (Europe) Limited nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Credit Suisse Securities (Europe) Limited in connection with this announcement, any statement contained herein or otherwise. Shareholders of MVI are reminded that the management and control of MVI is situated outside the United Kingdom. For this reason the Takeover Code would not apply to any offer for MVI. It is emphasised that, although the depositary interests representing ordinary shares in MVI are traded on the Specialist Funds Market of the London Stock Exchange, MVI is not subject to takeover regulation in the United Kingdom. As such, any proposal in relation to MVI will not be governed by the Takeover Code. This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to this announcement or otherwise. Any offer will be made solely by certain offer documentation which will contain the full terms and conditions of any offer, including details of how it may be accepted. This announcement has been prepared in accordance with English law and the Takeover Code and information disclosed may not be the same as that which would have been prepared in accordance with the laws of jurisdictions outside England. The distribution of this announcement in jurisdictions other than the United Kingdom and the availability of any offer to shareholders of Praesepe or MVI who are not resident in the United Kingdom may be affected by the laws of relevant jurisdictions. Therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom or shareholders of Praesepe or MVI who are not resident in the United Kingdom will need to inform themselves about, and observe, any applicable requirements. Rule 2.10 disclosure In accordance with Rule 2.10 of the Takeover Code, MMP confirms that as at 7 April 2011 it had 6,050,000 ordinary shares of 1 penny each in issue and admitted to trading on the London Stock Exchange under the UK ISIN code GB00B4NF3F57. Dealing disclosure requirements |
Posted at 18/8/2010 22:47 by rambutan2 For the record, it's worth noting that up to 145m more shares are hanging about in the background. Under the terms of the Loan Notes, the Conversion Price is adjusted if the Company issues shares at less than 8 pence per share, by applying a 25 per cent. premium to the price of such issue. Accordingly, as the Placing is being conducted at 7.5 pence per Placing Share, the adjusted Conversion Price will be 9.275 pence with the result that MVI will be entitled to subscribe for 116,321,845 new Ordinary Shares pursuant to the exercise of its Conversion Rights if the Loan Notes are held to maturity. As described above, the Company and MVI have agreed to amend the Loan Note Instruments in order to allow MVI to exercise its Conversion Rights immediately following satisfaction of the Conversion Conditions and, accordingly, the terms of the Loan Note Instruments have been amended to enable Conversion at any time after the Conversion Conditions are satisfied. In addition, if the Conversion Conditions are met, Praesepe can elect to convert the Loan Notes and any accrued interest if the volume weighted average price of the Ordinary Shares over three consecutive periods of 20 business days has exceeded 20 pence, and at least five per cent. of the Praesepe issued share capital is traded during each 20 business day period. Also, the Vendors (of Beacon) may also receive up to 28,500,000 additional Ordinary Shares conditional upon the Company achieving a share price of at least 20p within the next ten years or a Change of Control occurring at a value greater than 10p per Ordinary Share, further details of which are set out in Part V of this Admission Document. |
Posted at 09/8/2010 22:12 by jpjp100 OK, as I was concerned about the share price, I did some research. I went back over recent announcements and I visited two venues again: the crystal rooms and a bingo club.Two things give me cause for optimism and, whilst they don't totally eliminate every last bit of any concern I have had about the falling share price, I am more than satisfied to stick with my investment. i) Bingo! The electronic bingo is a superb product and this statement from the annual report 'We continue to apply to vary venue licences from AGC to Bingo Club and are working on a way to link all these small 'Micro Clubs' together in a way which will allow the bingo player who is out doing her shopping to drop in and play for exciting prizes that compete with other types of gaming on the High street.' If PRA can indeed network its bingo machines across its venues (just as conventional bingo already does), then the jackpot size (and likely frequency) will be very attractive. I saw jackpots on the machines in situ (not linked across sites) at £2k and £7.2k! As implied in the annual report, this will help to win a share of business from other venues - where else could you go now to have the potential to win £7.2k from a low stake machine (casinos tend to only be up to £4k) If you haven't played these machines (or watched someone play them), its hard to understand just how good they are at extracting money from players. From an operator perspective they are smashing. 2. B3 stakes review. Appreciating that PRA's venues are, essentially, fixed cost from the perspective of machines, then any increase in revenue makes a very big impact on profitability. The DCMS is reviewing stakes and there is talk of an increase in B3 stakes from £1 to £2. Again from the PRA report 'we do believe that this would be further underpinned by an increase in stakes on Category B3 machines later in 2010, which we expect to come as a result of the current review being undertaken by the Gambling Commission and the Department of Culture Media and Sport. Any changes in stake levels on B3 equipment will affect both our AGC business and our Bingo Club business.' Once the DCMS review is completed it will, at the very least, take away an element of uncertainty and, if the outcome does allow a stake increase / improved ratio of B3 to C machines, the benefit to PRA will be significant. As an aside, if the review negatively impacts FOBTs in bookies, there is even more potential for the bingo offer to appear as an attractive alternative to more people. |
Posted at 20/4/2010 14:42 by sscrabble 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." |
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