Codemasters Share Discussion Threads

[harris tweed] 03/12/2020 11:14

I've just voted against the Take Two deal via my broker.

If others are against the takeover I urge them to do the same. They need 75% acceptance to get this deal through, so the votes of private investors may well tip the balance in the result.

Voting deadline is 15th December.

[daveme] 02/12/2020 10:44

Based on a TTWO share price of $180 and a $1.34:£1 exchange rate, CDM's value is £5.00 per share, hence hopefully the initial £4.85 price will be just that, i.e. a starting price.

[mauricemonkey] 02/12/2020 00:15

Better than £4.85 so no matter whatever happens next, not terrible :)

[dicktrade] 01/12/2020 15:45

sold out today @ 504.20, not sure if i have done the right thing but TTWO share price was down 2% so that was enough to convince me.

[podgyted] 29/11/2020 22:00

Yeah it stinks.

I've halved since the offer to be on the safe side.

But have kept half - can't help but feel the II's here will force a higher bid (BoD have very little skin in the game and some have the opportunity of making quick killing) or bring a other bidders to the table - but I could be wrong - roll the dice.

[dicktrade] 26/11/2020 14:45

just found it and worked it out to be 488p less costs

[dicktrade] 26/11/2020 14:16

to save me scrolling back to find the offer does anyone have a quick calc to find
the offer price with the TTWO share price @ $174 using GBP of $1.34 please.

[harris tweed] 24/11/2020 14:09

Courtesy of poster Acounsell over on Stockopedia:

From today's Times

"Forget Formula One. The fastest stuff at Codemasters is in the video games maker’s boardroom. First, a dash for the exit, courtesy of a cash-and-shares offer from Take-Two Interactive at the skinniest premium. And now this delightful bit of chicanery: spraying non-exec Lisa Thomas with share options mid-bid.

She only arrived on April 7. But she’s already in for 210,000 options at 235p. Or, to put it another way, a gift of £480,000 at the 464p offer price agreed by the board two weeks ago, even if most of her freebie’s in Take-Two shares. In fact, thanks to a rise in the suitor’s shares since, Codemasters now trades at £5, so she’s £556,500 well in.

Anyone would think she chaired Codemasters’ remuneration committee. Which, as it happens, she does. True Ms Thomas, the former “global chief brand officer” at Virgin, couldn’t have awarded herself her own options: they were granted “in accordance with the terms of her appointment”. But they’ll vest the instant the Take-Two deal completes. Even a Codemaster’s spokesman admits: “The timing’s not great.”

Except for Ms Thomas, of course. Under best practice, non-execs aren’t even meant to have share options. But as an Aim-listed stock Codemasters doesn’t have to play by those rules. All the non-execs are optioned up, including chairman Gerhard Florin, who rolled over to Take-Two at a 6.7 per cent premium after a doubling of half-year ebitda. Meantime the Codemasters’ boss Frank Sagnier and the other executives will be joining Take-Two with the promise that it’ll be revving up the “incentive structure”. Fast bucks all round."

[janhar] 24/11/2020 11:47

I'm still holding out for a better offer ?

[harris tweed] 24/11/2020 10:08

5cer
Ranting on a bulletin board isn't going to change anything. We will get to vote on this deal in due course - THAT'S the time when we can make our views known. They need 75% approval to get this deal through.

[5cer] 24/11/2020 09:52

Not much comment on here from shareholders. It seems to me that this is a complacent bulletin board.

[5cer] 24/11/2020 08:36

The bod are looking after their selfish interests and not working in the interest of ordinary shareholders. Fancy agreeing to such a derisory offer when they were aware of the fantastic potential of the company. STINKS STINKS STINKS.

[jltaylor1001] 24/11/2020 03:40

Fingers crossed , seems seriously too cheap

[daveme] 23/11/2020 21:00

Interesting the share price is above the equivalent offer from TTWO. The market obviously feels the offer undervalues CDM and expects a higher offer, either from TTWO or someone else.

[5cer] 23/11/2020 16:01

The bod's must have known these excellent results were in the offing when the Take Two bid was made and yet they have approved it having had their pockets stuffed with money. Excellent growth prospects as far as existing shareholders are concerned but not for us. STINKS !!!!

[energeticbacker] 23/11/2020 15:18

The shares have performed well over the pandemic and CDM has attracted an approach from large US-listed peer Take-Two Interactive.

Investor's champion's in-depth report highlights its attractions and questions the seemingly low-ball offer.

[investing2retire] 23/11/2020 14:32

someone just bought 1 million shares at 489p which is above the bid. must be another offer coming

[cheshire pete] 22/11/2020 18:03

Interims tomoz.

[mauricemonkey] 21/11/2020 13:52

The priceis now tied to the price of Take Two, it currently has limited, if anything, to do with expectations of a higher offer imo.

[5cer] 21/11/2020 11:52

Not much activity on this bb. Why not ?

[5cer] 20/11/2020 22:36

Seems that the buyers paying over the bid price are expecting a higher offer or anticipating a fresh offer from a new bidder. I know I am.

[lancasterbomber] 20/11/2020 17:00

I believe this has just gone over the takeover price of 485 last thing in the afternoon, could be interesting on Monday