Caplay Share Discussion Threads

[tiredoldbroker] 28/7/2006 10:09

So Malc5 you think it was "good business sense" for CLY's directors to sit on a holding of 722,000 PVTM shares but let options on 1.87 million PVTM shares lapse, when they could it seems have turned a profit on the options of several times the current CLY share price ? Excuse me ? The CLY options represented less than 5% of PVTM's stock, and were shares already in issue (held by Ramsden), so exercising the option would not in any way have diluted the ongoing CLY investment in PVTM.

[malc5] 28/7/2006 09:04

IMHO, This is all good Business sense. I think caplay know, with there options out the way pvtm will rise accordingly, hence the 25% rise yesterday. Caplay will now get a far better price for the shares they still hold long term more so than holding on to there options.

[dell314] 28/7/2006 08:47

Reg - Presumably you have decided to ignore the fact that CLY have cash from the last placing and that they could raise more quickly by directors(and their friends at Falcon) exercising 1p warrants, if they considered the PVTM options to be worth exercising?

You have also chosen to ignore the fact that all they'd need to do was find another party with cash who wanted PVTM stock at over $4, exercise their $4 option and pocket the difference....

As for breaking through 2p, presumably you've also forgotten the recent 1p placing and the fact that when the telesales operation was underway to place them, we didn't see very many traded, implying there's still a lot of that stock looking for a home....

It seems to me that CLY are telling us today that their patience and belief in TR and PVTM has come to an end. Isn't that rather worrying for a company that has the majority of their assets tied up in PVTM stock?

All IMHO, DYOR etc.

Rgds
dell

[tiredoldbroker] 28/7/2006 08:41

I haven't bothered to keep track of Ramsden's holding in CLY but I thought he still held something like 16.7m shares or 9% of the company. Maybe someone has a more up to date figure.

But the key thing is, if the CLY board are so experienced and professional and want to see CLY prosper, and if PVTM is such a brilliant idea, why have they let options over 1.87m shares at US$4 lapse, when (if the PVTM story was good) they might have been able to finance the exercise of the options one way or another and take out a profit for CLY of anything up to US$11.22m/£6.03m/almost 4 times the current CLY share price (given that PVTM is supposed to be trading at US$10) ??????

Isn't that a major question which they should be answering ?

[reg5] 28/7/2006 08:35

Paddyfool
Precisely - they would have to source the finance from somewhere other than Ramsden. After all, he wasn't going to pay twice the share price for his options. I wouldn't be at all surprised if the rest of the Board had been making sure this didn't rise to over 2p until Ramsden was out of the way. As a result I would not be at all surprised to now see it clear the 2p target - just to stick one on him.

Anyway, the market seems to approve - if only showing a tiny shift.

Let's see, but I am pleased that Ramsden is out of the picture (I hope)

[kfp] 28/7/2006 08:30

Offer ticking up.only one on at 1p !

[dell314] 28/7/2006 08:30

Paddyfool - They presumably have some cash hanging around from the placing and if they considered it a good deal there are also 100mln 1p warrants outstanding, at least 40mln of which are held by directors enabling them to raise a few hundred grand pretty quickly. They could therefore exercise at least part of the option if they felt it was worth doing so.

Anyway, even if they don't have enough cash themselves, all they'd need to do was find investors interested in buying volume of PVTM at anything over $4 and then exercise the option and place the stock banking the profit for themselves.
Doesn't that suggest that the only people willing to pay over $4 are punters dealing in tiny volumes in the OTC market and dupes that get sold them by boiler room operations?

Finally, throughout the history of the CLY/TR relationship practically every deal, or option has been revised or extended at some point. What has happened to change that now?

All IMHO, DYOR etc.

Rgds
dell

[paddyfool] 28/7/2006 08:17

The other thing to bear in mind is that cly cannot afford to buy the options

[dell314] 28/7/2006 07:52

Reg - Correct me if I'm wrong but I believe that the PVTM options that CLY are allowing to expire are at $4, or half the current PVTM price. Therefore, isn't it fair to assume that they don't believe PVTM is worth anything over $4 ?

Last year they said the following, when they revised TR's options:

..Given the Company's interest in PTS, it believes that it is in the best interests of shareholders that the Company negotiated a new and revised share option agreement with Mr Ramsden...

Isn't it a concern that they no longer seem to consider it worth keeping TR onside??

Finally, the most important piece of today's RNS, IMHO, is actually an omission.
Did you note that they emphasised that "PVTM's shares are traded on the Pink Sheets over-the-counter market in the US" and made absolutely no mention of the AMEX listing? In previous announcements they have been keen to feature the fact that PVTM is planning to move to AMEX, so why not today?

I may be wrong but this all looks rather ominous, IMHO.........

Rgds
dell

All IMHO, DYOR etc.

[reg5] 28/7/2006 07:36

dell
It removes the uncertainty of Ramsden's influence over the company and clears it to move forward. It retains a significant interest in PVTM without the machinations of whether Ramsden could push around what is an experienced and professional Board (excluding him).

I do see this as positive.

[dell314] 28/7/2006 07:30

Reg - Are you suggesting that is positive?

Doesn't this suggest that the CLY board is having serious doubts about the credibility of Ramsden and PVTM?

Rgds
dell

[reg5] 28/7/2006 07:25

Caplay Plc Option Expiry
RNS Number:8639G
Caplay PLC
28 July 2006



FOR IMMEDIATE RELEASE: 28 July 2006


Contact:

Patrick Claridge, Chief Executive Caplay Plc [phone]

David Bick, Holborn [phone]

Roland Cornish, Beaumont Cornish Limited [phone]
Nominated Adviser



Caplay PLC ("Caplay" or "the Company")

Option Expiry


On 26th July 2005 the Company granted Mr. T Ramsden an option over 35 million
shares in the Company, exercisable in full or in part at 2p (17.5 million
shares) and 5p per share (17.5 million shares). The option period for exercise
under the option agreement has now expired.

In addition, the Company was granted a number of options in Private Trading
Systems Inc ("PVTM") which expire on 2 August 2006 and require a minimum of five
business dates notice. The Company has decided that, given the Company's
existing equity interest in PVTM, it is not in the interest of Shareholders to
exercise its option in PVTM, and consequently, the option has expired under the
terms of the Option Deed agreement.

The Company retains its holding of 722,900 shares in PVTM. PVTM's shares are
traded on the Pink Sheets over-the-counter market in the US and as at close of
business on 26 July 2006 were trading at $8.02 per share.

The Company has not entered into any new option agreements with Mr. T Ramsden.


So, Ramsden is out of the picture !

[kfp] 27/7/2006 20:41

Hope this is the start of recovery for CLY !!

regards

[kfp] 27/7/2006 20:41

Private Trading Systems Signs First Major Agreement
Thursday July 27, 1:34 pm ET
PETS To Trade Life Insurance Policies Settlements


SCOTTSDALE, Ariz.--(BUSINESS WIRE)--July 27, 2006--Private Trading Systems, Inc. (Pink Sheets:PVTM - News) has signed a Trading Services Agreement with the Admiral Asset Group, Inc. of New York City. The Company is to provide trading facilities on its PETS exchange platform, when approved, for Admiral Asset Group's Life Insurance Policies Settlement securities. PETS will trade the financial instruments in electronic form allowing for instantaneous clearance and settlement in real time.



The Trading Services Agreement runs for a period of three years and covers successive traunches of the Securities, when and if issued. The first traunch is expected to have an aggregate face value of $100 million.

The Admiral Asset Group securities being contemplated will be dematerialized into electronic form under a separate agreement with Dematco Limited, a UK company, and its joint venture partner Societe Bancaire Privee SA of Geneva, Switzerland. Together, Dematco and Societe Bancaire Privee provide dematerialization services to Private Trading Systems under arrangements which complement the Company's straight-through PETS processing system.

Mr. C. Austin Burrell, Chairman and CEO of Private Trading Systems states, "This Agreement marks a breakthrough for our PETS system and will demonstrate the efficiency of our proprietary process. We are delighted that Admiral Asset Group has come aboard. And, I am particularly pleased that we have been able to cement our arrangements with Dematco and Societe Bancaire Privee SA, allowing us to handle significant volumes of securities, when and if issued, and other financial instruments for both Admiral Asset Group and future customers."

[flyingpicket] 26/7/2006 09:38

KFP - Amex Listings rarely take this long, although it's not unheard of. Never forget that sometimes a share will fall ahead of good news as the MM's, who always seem to know more than us, try to shake people out to top up their stock and other times they fall because the stock is worth less than was thought (or in some cases, worthless?!). Who can tell which is which: pick a, b or c to see if you're a winner!

[rbonnier] 26/7/2006 09:24

Its certainly dragged its feet during which time this has turned into one hell of an AIM dog.
With the share price in free fall its about time the directors gave investors an update.

[kfp] 26/7/2006 09:07

How do you know there is problems with Amex listing ?

[paddyfool] 25/7/2006 07:42

they are having v big trouble getting clearence for the Amex listing and absolutely no sales....the end!

[flyingpicket] 05/7/2006 18:20

Roll on an actual sale/installation of an least one copy of its system by PVTM, at this rate the software will be obsolete before the shares get anywhere near AMEX.

IMHO without any actual trading/income any bubble upwards caused by a full listing will be rapidly punctured by a scramble of bored and frustrated investors fed up of good news announcements based on thin air and looking to change to something with a more quantifiable future based on some kind of commercial or trading achievement. I'll be with them!

[bbd2] 05/7/2006 16:18

TY - role on the Amex listing !

[dr knowledge] 05/7/2006 16:11

bbd2 - yesterday, 250k was dumped (reported after market) - the price they got indicates that trading is effectively "dead" for CLY, the MM's are simply holding the price - there is 0 market for the shares im afraid!

[bbd2] 05/7/2006 16:09

Any idea while we are down on no trades ?

[dell314] 04/7/2006 08:22

Re the comments on the recent PVTM price, I've spotted it getting mentioned on both the TMF and iii boiler room promotions threads, so I'd imagine the OTC share price is being manipulated to enable volume to be offloaded by the boiler room operations.

All IMHO, DYOR etc.

Rgds
dell

[tiredoldbroker] 03/7/2006 19:21

Hasn't this application for listing on Amex dragged on for an unusually long time ?