Appreciate Share Discussion Threads

[topvest] 18/11/2022 14:18

Given the Paypoint shares are 1/4 of the deal and they are discounted there isn't much of a discount as far as I can see, particularly given the 6m wait!

[boonkoh] 18/11/2022 10:15

The fact that the fund name is Event Driven... could just be that they see it as certain to go through, and just picking up shares to arb the current discount. Don't think the fund has a history of being particularly activist and playing an active role in their stakes? So don't think they will be bidding, or pushing for another offer.

[topvest] 17/11/2022 17:01

Interesting that Samson Rock Event Driven Master Fund Limited have now picked up c12%. One gets the feeling that this deal may note be totally a done deal!

[boonkoh] 14/11/2022 13:09

Weird that no update from Paypoint, one week later, of more irrevocable backing of their proposal from other shareholders. Or letters of intent even. Surely they've been doing the rounds trying to ensure support for the vote.By not sewing up more support they leave the door open for another bidder.

[cfro] 12/11/2022 09:05

Yes, of course. But what i meant to say is do they think its still being sold on the cheap and they could get a higher bid. I guess we will never know.

[topvest] 11/11/2022 19:22

Given they will be doubling their money in less than a year, I suspect they will be!

[cfro] 08/11/2022 09:05

It would be interesting to know if Harwood are, actually, happy with this deal or not. Along with some of the other major shareholders like Soros for instance.

[topvest] 07/11/2022 20:20

Looks like Harwood were the activist along with the new Chairman to get value. Harwood will do very well as they purchased at an ideal time. At least I've got a holding in North Atlantic Smaller Companies Investment Trust Plc as well. I agree its not a great exit, but Paypoint and Appreciate combined might be interesting. I'm going to look at Paypoint again. To be honest, I think the market rout is nowhere near over and so, on balance, I think its positive. The more cash or quasi-cash held until we reach capitulation in 2023 the better!

[powerp2] 07/11/2022 19:09

I agree the price is too low. The BOE increase of 0.75% on interest rates should put £1.3m on profits for starters! So if a similar uplift next time that's £2.6m and everything else is trending how are after COVID and previous mix management with little or no cost control. As a long term holder ( back to PJ days) I feel shafted

[rndm355] 07/11/2022 18:33

Graham Neary - deal likely undervalues Appreciate:

[taylor20] 07/11/2022 18:30

Hmmm, coincidentally, looking at my notes I had a 12month price target of 43.7p, so to reach that in 2 weeks is nice, but I was intending a longer term investment with steady increasing dividend stream.

[zxie] 07/11/2022 14:35

INSP shares jump soon

[1tx] 07/11/2022 14:09

The takeover has not been well received by Paypoint shareholders either as its shareprice is down.We are in a better place than on Friday here.The problem is that almost all financial shares are poorly rated at present if we are looking for a better outcome.We will just have to wait & see what happens or take what we can get now and run!At the moment I am staying.....

[topvest] 07/11/2022 13:58

cfro - bang-on! My thoughts exactly.

[powerp2] 07/11/2022 12:57

Thanks 1tx.
I still think 6.2 times ebitda is low given we're on an upward curve ASSUMING no nasties to come out.
The money spent ( mysteriously) on MDL would appear to be money down the drain too.

[terry topper] 07/11/2022 11:30

As a very long term holder at least it appears that I am going to get put out of my misery on this one - only question is whether another party will come in.
It appears that there is only one external shareholder (9.8%) who has given an irrevocable and that becomes non-binding if an offer 10% higher is received.
The letters of intent (13.4%) are from only 2 investors.

[1tx] 07/11/2022 11:11

APP has c186m shares in issue based on figures from September.In addition there may be share options outstanding which can be issued.

[powerp2] 07/11/2022 10:13

The deal is being touted as £83m. We have c100m shares issued so how do they get to £83m.
I wonder if that idiot CEO has left with things in a complete mess hence the deal? It wouldn't surprise me.

[1tx] 07/11/2022 09:58

Welcome even if like many holders the offer is very close to my original purchase price albeit higher than we are likely to see from APPs performance alone in the foreseeable future.I assume Paypoint can benefit from offering our products and services to their customer base.I dont know enough about Paypoint at the moment to decide if I will retain their shares if the offer goes ahead.I suppose there is also a possibility that other parties.

[powerp2] 07/11/2022 09:55

Disappointing. Before the last CEO and Chairwoman this business was valued at c£100m so forgive me being underwhelmed by 44p which is roughly £40m

[zxie] 07/11/2022 08:37

Good news 63.8 per cent. to the volume weighted average price

[velocytongo] 07/11/2022 07:57

Cfro, I agree as I think the biz has finally turned the corner

[cfro] 07/11/2022 07:18

Unexpected, happy but at the same time disappointed because i feel the company "should" have been worth so much more.

[linton5] 07/11/2022 07:07

Well done chaps good timing 33p plus equivalent of 11p of paypoint shares 👍