Patsystems Share Discussion Threads

[bugs bunny] 28/2/2012 10:28

Bye Bye PTS.....Just FFA left now with a 27% ION stake how long they gobble them up.

[techno20] 16/2/2012 19:39

Dealit, Got mine yesterday. Not a huge win, but nethertheless a decent return.

Good luck with what comes next. Think they'll be plenty of opportunities over the coming months.

[dealit] 10/2/2012 16:31

Techno20 I have been paid for my shares today, over and out be lucky everyone.

[dealit] 10/2/2012 09:53

30 January 2012

Patsystems plc

(the "Company" or "Patsystems")

Intention to cancel admission to AIM

Further to the announcement dated 26 January 2012 by Pattington Limited that its recommended cash offer for Patsystems had been declared wholly unconditional in all respects, Patsystems confirms that it has applied to the London Stock Exchange for the admission of its Ordinary Shares to AIM to be cancelled.

It is expected that such cancellation will take effect on 28 February 2012 prior to the start of trading, which is 20 clear business days from the date of this announcement. Thereafter, holders of Ordinary Shares will no longer be able to sell their shares through the London Stock Exchange and no provision is expected to be made for any alternative form of dealing in the shares. No price quotation will be available after the cancellation of admission to trading.

[dealit] 22/1/2012 14:50

The acception date is the 25th Jan, so I would feel 2 weeks after that date.

[techno20] 22/1/2012 12:06

Anyone know when the deal completes and we get paid?

[dealit] 20/12/2011 21:28

It was the end of PTS as soon as the takeover statement was announced IMHO. Just hope you filled your boots at around 12p I clawed 11% back today.

[bugs bunny] 20/12/2011 11:31

Looks like the end of the line for PTS.....FFA next?????

[dealit] 28/11/2011 17:22

Money makes money, if you need proof of that directors who topped up just after the profit warning for 11/12p 20% profit at 14p.

[only who?] 28/11/2011 12:34

They must be fully qualified to work at TCG, PFD or YELL.

Pat(s)iently held these for about eight years. What a disappointment.

[groin] 28/11/2011 10:14

Sounds like the board has already handed them the keys in exchange for keeping their jobs...

[dealit] 28/11/2011 07:30

That is that 14p sold very cheap if this goes through-

The Board of Patsystems plc announces that it has received an approach from its largest shareholder, ION Trading ("ION"), regarding a possible cash offer by ION (either directly or through one of its affiliates) for the Company, which values each share in Patsystems at 14 pence. The Board acknowledges the Company's strong commercial fit with ION, their greater financial stability, as well as the potential benefits to staff, customers and product development. The Board will therefore carefully assess the merits of the proposed combination.

[hastings] 12/11/2011 20:35

Well, given the amount Herald hold in terms of the bigger picture I wouldn't think too many eyebrows will be raised! Having said that, I do agree, must say that the acquisition appears to have been at the very top end. Who knows though, probably be gobbled up and no doubt at a premium price-smoke mirrors and AIM

[tell it as it is] 12/11/2011 19:45

What an absolute disaster the MF Global loss of £3m of annual revenue is for a company already under pressure. Talk of value destruction since it raised tens of millions at the beginning. Seymour Pierce and Katie Potts can hardly be delighted with them.

[glasshalfull] 31/10/2011 21:14

I don't hold PTS as documented on the thread sometime ago but continue to monitor its progress.

Turnover last year was £22m so approx 13% of revenue away but how profitable was this revenue is the more important question.

Given the recent profits warning I wish all holders the best of luck and hope that ION come calling with a bid at a premium. I won't be looking in again, though probably no fault of their own I just find them too accident prone.

Article from GCI tonight.



Patsystems suffers MF Global blow

31/10/2011 Miles Nolan

The shock news that US brokerage MF Global has filed for bankruptcy protection, has dealt a further blow to beleaguered trading systems supplier Patsystems (PTS).

Patsystems has issued a statement this afternoon in which it admits that MF Global is an important customer, accounting for £3 million of recurring revenue. It is also an outstanding debtor, with £300,000 owed to the AIM counter.

Shares in MF Global have been suspended in New York, after revealing £4 billion of eurozone debt exposure - a position which threatens its 2,000 strong worldwide workforce. Just last week the brokerage suffered a two-thirds collapse in its share price, after revealing a $191.6 million quarterly loss. This led its credit rating to be cut to junk status. It was spun off from Man Group in 2007, and was a leading player in exchange traded futures and options.

Earlier this month Patsystems warned on profits, largely due to the failure to close two one-off exchange license sales. It had been talking to four exchanges in Asia and two in the Americas, however the board no longer believe the deals will be completed by the year-end.

In the days following it did not deter two non-executive directors picking up stock, and perhaps more importantly its largest shareholder ION Trading has upped its holding from 26.93 per cent to 27.91 per cent. The shares have fallen by 13 per cent to a year low of 10.25p, and are likely to remain under pressure until a clearer picture emerges

-----------


Kind regards,
GHF

[hastings] 31/10/2011 19:47

Where do you get a third from?

[dealit] 31/10/2011 19:34

Am i correct in saying that a 1/3rd of the turnover as gone and 1/2 the profit?

[hastings] 31/10/2011 17:40

Well I guess the share price gives the answer to that!

[wjccghcc] 31/10/2011 17:37

No, but how much of that 3mm of recurring revenue would have gone straight through to the bottom line given their relatively fixed staff cost base?

[hastings] 31/10/2011 17:19

Filed for bankruptcy, which means PTC won't get the money owed. Still it doesn't appear to mount to much.

[dealit] 31/10/2011 17:09

Do we know what MF Global have done?

[carpking47] 31/10/2011 15:47

ION wont hang around at these levels...18p takeover

[bbd2] 31/10/2011 15:27

Ouch that's surely the final nail in the coffin. ION could get this for a song now

[hastings] 31/10/2011 12:50

I would think ION would make a move for these in the not so distant future.
Not too far off, the point which would trigger a mandatory bid. Shall keep a close eye on this one, any further buying from ION should be interesting.