||EPS - Basic
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Real-Time news about Praesepe (London Stock Exchange): 0 recent articles
|jpjp100: oh my, I take a few days holiday and deliberately have no internet / phone connection and look what happens!
7.5p is a steal imo
But, if the share price was higher it would have made it easier for Nick et al to continue their acquisitions with paper
It might not come to an offer. If it does, the offer might not get support from Falcombe (Noble), Shipley and a couple of others (but there could be sweeteners in there for them I suppose). It might just be something to spark some interest in the shares, maybe surface a counter bid? Maybe just get some following?
Or taking a chance to get the company on the cheap?
27th April will see the results published.|
|rambutan2: I think that the model just wouldn't work with the share price so low, so founders Marwyn and Nick etc will rebase the price and continue on what they believe is a good story. Pity, but if Mr Mkt wouldn't offer support then they had no choice?|
|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 !!!|
|jpjp100: Another deal announced concerning Agora. Not a straightforward acquisition but a step towards one.
And a trading update that is very cautious - good to see no downside reaction in the share price: I have seen shares tumble on more positive announcements than that!
Does anyone know who is behind Baleday?|
|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.
|ukinvestor220: I resent my request for information today indicating that I hd received no response, copying in Nick Harding.
Immediately I got a reply:
From: Byron Evans [mailto:[email protected]raesepeplc.com]
Sent: 16 August 2010 08:55
Cc: Nick Harding
Subject: RE: Query from Shareholder
Dear Mr ,
I responded to your email on the date it was received and can only apologise if you haven't received my reply.
The Board of course review the share price on a regular basis and have noted that recently there appear to have been some institutional sales taking place. It may be useful to note that in recent weeks virtually all of the senior team signed up to the SAYE scheme. Also as recently as June the CEO, CFO and Commercial Director all purchased additional shares in the company, which hopefully reflects the confidence that we have in the stated strategy of the company.
If I can be of any further assistance please do not hesitate to contact me.
1A Seebeck Place
Tel: Direct Dial 0845 521 5049
Fax +44 (0)1908 669714
Mobile +44 (0)7970 148003
Email [email protected]lc.com
CONFIDENTIALITY AND DISCLAIMER NOTICE
This email is confidential and may contain information that is privileged and is intended for the use of the above-named recipient(s) only. If you are not the intended recipient(s), you are notified that any dissemination of the information contained in this email is strictly prohibited. If you have received this email in error, do not print, forward or copy it and please notify us immediately at [email protected] or on telephone number 01908 351200 or fax number 01908 669714 and delete this email from your system. We believe, but do not warrant, that this email and any attachments are virus free. You take full responsibility for virus checking. Praesepe plc reserves the right to monitor all email communications through their internal and external networks. Praesepe plc, Seebeck House, 1A Seebeck Place, Knowlhill, Milton Keynes, MK5 8FR
You can visit our web site at: www.praesepeplc.com|
|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.|
Sent: 06 August 2010 09:25
To: [email protected]plc.com'
Subject: Query from Shareholder
As a shareholder and creator of the Praesepe discussion forum on the private investor website ADVFN, I would like to represent the concerns of investors in the company about the falling share price and lack of any response to it from the Directors, be it bad or good.
Please can you request some sort of update to reassure or confirm that the business is not suffering from serious income reduction or excessive costs, and that your operations are continuing to perform according to your plans as set out in April.
|jpjp100: yes, its starting to get frustrating now, watching the price drift down on the back of no real news
I am also a bit nervous about the impact of the world cup on revenues - in the current climate, a bit of bad news could be very detrimental to the share price.|
|plunge: trigger45 and jpjp100
Thanks for your recent postings on the thread.
What I finding intriguing is whether Simon Thomas will in fact become a director of the company and whether part of PRA's strategy is to absorb his United Leisure Gaming vehicle into the business.
Further, it is interesting to see that PRA and 888 Holdings PLC share a common director in Brian Mattingley. Given 888's recent share price weakness I wonder if there is any opportunity here for PRA.
Interesting times ahead, me thinks.|
Praesepe share price data is direct from the London Stock Exchange