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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Equals Group Plc | EQLS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 138.00 | 08:00:18 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 138.00 | 138.00 | 138.25 | 138.00 | 138.00 |
| Industry Sector |
|---|
| SUPPORT SERVICES |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 10/09/2024 | Interim | GBP | 0.01 | 26/09/2024 | 27/09/2024 | 25/10/2024 |
| 01/11/2023 | Final | GBP | 0.01 | 06/06/2024 | 07/06/2024 | 28/06/2024 |
| 12/09/2023 | Interim | GBP | 0.005 | 16/11/2023 | 17/11/2023 | 07/12/2023 |
| Top Posts |
|---|
Posted at 11/12/2024 12:20 by tabhair Under the terms of the Acquisition, Equals Shareholders shall be entitled to receive:140 pence in cash per Equals Share (the "Cash Value"), comprising a cash consideration of 135 pence for each Equals Share (the "Cash Consideration") plus a special dividend payment of 5 pence in cash per Equals Share that the board of directors of Equals intends to declare prior to completion of the Acquisition with the record and payment dates aligned with the corresponding dates for determining entitlements to, and payment of, the Cash Consideration due to Equal Shareholders under the terms of the Acquisition (the "Special Dividend"). Boom. Happy with that! |
Posted at 07/12/2024 13:26 by cp42kx07 So yet another PUSU expiry raises several questions:1. Will an offer materialise before the expiry? Unlikely as there would be no reason to delay an announcement of a formal offer.2. Will there be another extension? Laughably this is probably on the cards. The PUSU system has been made to look ridiculous by EQLS.3. Is this a PUSU record? Surely it must be!4. If there is a formal offer should shareholders accept it? I'm of a mind to vote against it on the basis that EQLS appears to be in a market sector with excellent growth prospects. Whether management are up to the job has become unclear however. Also I have a concern that management have been less than honest regarding the entire strategic review process which could mean that there are undeclared problems...5. If the offer does not materialise then at what level will the share price fall to short term and then reach within 2025? 95p / 160p?All in all none of the parties have come out of this with their reputations enhanced but (imo) the most blame must attach to management. An exceptionally poor show! |
Posted at 20/11/2024 07:05 by masurenguy Strategic Review Update and Extension of PUSU DeadlineThe Board of Equals announced on 30 October 2024 that it received a further improved indicative non-binding proposal from the Consortium, regarding a possible all-cash offer for the entire issued and to be issued share capital of Equals at a price of 135 pence per Equals Share, in addition to which Equals shareholders will be entitled to receive a special dividend of 2 pence per Equals Share (the "Special Dividend"), payable on completion of the transaction (the "Possible Offer"). For the avoidance of doubt, the Special Dividend will be separate from and in addition to the 2024 interim dividend of 1 pence per Equals Share announced on 10 September 2024 and paid on 25 October 2024. Whilst the Consortium has completed its due diligence in relation to Equals, the formal announcement of the Possible Offer under Rule 2.7 of the Takeover Code requires the Consortium partners to have concluded their own negotiations regarding the basis on which Railsr will be contributed in parallel with the Possible Offer. PUSU Extension In order to allow further time for the Consortium to conclude its negotiations regarding only the arrangements between the Consortium members, the Board of Equals has requested that the Panel on Takeovers and Mergers (the "Panel") extends the current deadline of 5.00 pm on 20 November 2024 by which time the Consortium must, in accordance with Rule 2.6(a) of the Code, either announce a firm intention to make an offer for the Company under Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies (the "PUSU Deadline"). In the light of this request, an extension has been granted by the Panel and, in accordance with Rule 2.6(a) of the Code, the Consortium is required, by not later than 5.00 pm on 11 December 2024, to either announce a firm intention to make an offer in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This revised PUSU Deadline may be extended with the consent of the Panel, at Equals' request, in accordance with Rule 2.6(c) of the Code. There can be no certainty that an offer will be made. In accordance with Rule 2.5(a) of the Code, the Consortium reserves the right to make an offer for Equals on less favourable terms than those set out in this announcement: (i) with the agreement or consent of the Board of Equals; or (ii) following the announcement by Equals of a Rule 9 waiver pursuant to the Code; or (iii) if a third party announces a firm intention to make an offer or a possible offer for Equals which, at that date, is on less favourable terms than those contemplated by the Possible Offer; or (iv) if Equals announces, declares, makes, or pays any dividend or any other distribution or return of value to shareholders, to make an equivalent reduction to the Possible Offer. This announcement has been made with the consent of the Consortium. |
Posted at 18/11/2024 12:52 by masurenguy Equals (EQLS)Equals has received a cash offer from a consortium led by private equity firm JC Flowers and Tower Brook Capital. The initial 135p share offer valued the fintech group at £276m. This was sweetened with a £4m special dividend. Equals recently paid a 1p interim dividend from its £28.3m net cash pile. With shares offering a 14.5% upside to the indicative 137p take-out price, “there is an opportunity to make a quick-fire gain”. Buy (125p). Investors’ Chronicle |
Posted at 30/10/2024 08:38 by masurenguy "After being told by various analysts that the 'fair value' of the company is between 165p and 175p over the last couple of years, yes it's disappointing."Just a bit of perspective in relation to analysts views on "fair value" here. When the SR was announced, a year ago on 1st Nov 23, the EQLS shareprice was 110p. If this deal is subsequently concluded at 135p then the premium on that price will be 22.7%. If a special dividend of 2p is added then the premium becomes 24.5%. One of EQLS largest competitors, Wise (who have a slightly different business model), were 670p on that same day and they are are currently 713p. Their shareprice reflects an increase of only 6.4% over the same timescale. Of course as investors we would all have loved a higher acquisition price of circa 170p but it is the market, at any given point in time, that ultimately determines price not 'various analysts'! |
Posted at 13/9/2024 06:06 by masurenguy Dividend UpdateEquals (AIM:EQLS) announces that as part of the Interim Results released on 10 September 2024, the Board declared an interim dividend of 1p per ordinary share. The dividend will be paid on 25 October 2024 to members on the register on 27 September. The ex-dividend date will be 26 September. |
Posted at 28/8/2024 12:13 by carcosa Owenski, correct me if I am wrong but there was a bid for XP Power announced via RNS on 21 May, "Advanced Energy Ind. - Statement re Possible Offer". At that point XP Power rejected the offer.Wrt EQLS no formal bid has been announced from the consortium. All we know is what EQLS have published themselves. Until a formal offer is announced I don't think EQLS are in a position to formally reject anything that has not been proposed. Albeit a phrase from EQLS saying something like "we would be minded to accept/reject.." would have been useful. It's a technicality. Also, who know who else (anyone?) might be in discussions with the Board; until another leak ensues there is no way of knowing. FWIW after all this time it seems unlikely to me the consortium likely to raise the cash required as you say, it's 'odd'... but maybe they want to wait for the next UK govt Budget announcement first, so expect another PUSU extension? Given the current share price is not a million miles away from 135p and the risks involved of a bid collapsing, am a tad surprised there have not been more investors getting out and re-deploying their funds. |
Posted at 23/7/2024 15:24 by simso I read an ongoing debate here about EQLS and ALPH valautions. Lets split the facts from the fiction, as ALPH have reported their first half numbers this morning, so we can compare to EQLS' recent TU, covering the same period.1. Interest Income: EQLS interest income in H1 24 was 16% of the total sales, so is relatively less of a deal than it is for ALPH, where it accounts for around 40%. 2. EQLS sales growth in H1 was +33%, and Alpha +19%. If one stripped out interest from both companies, EQLS grew at +24% and ALPH +15%. 3. Comparing current year valuations, we know ALPH is on a P/e of 12 for the current year (inc interest), confirmed in a Panmure note this morning. With EQLS, the last forecats we have from House Brokers Cannacord and Zeus are almost 10 months old. Given teh progress made since, that's a long time ago! In Sept 23 both were predicting sales of around £110m for FY24. We now know the first half alone has delivered £60m. My own view for FY24 is £135m sales, EBITDA of £32m and EPS between 10p and 11p. If this comes to pass, then the P/e would be 10. In summary I believe EQLS is arguably on a cheaper rating than ALPH, although this depends one ones own assumptions in deriving a view on EQLS EPS. It is a fact that EQLS is growing materially faster, and also that Interest Income is less of a deal than it is for ALPH. |
Posted at 03/7/2024 09:52 by 66fingers Latest from Paul Hill for those who do t follow him;#EQLS The pieces in the @equals__money jigsaw (a leading fintech forex/payments platform) are falling perfectly into place. Indeed today the company released an eye-popping trading update. Saying H1'24 revenues had soared 33% to £59.96m (vs £45.0m LY) - with an exit Q2’24 run-rate of £32.6m (+40% YoY), equivalent to £527k per working day. A staggering performance thanks to stand-out numbers from Solutions & International Payments - which I suspect is best-in-class despite the relative calmness across the broader market. In fact, just think what #EQLS might achieve when the economy improves, volatility picks ups and disruption from the Strategic Review (SR) is over? Elsewhere, last year’s acquisition of @equals__money Europe (formerly Oonex SA) is gaining traction too (re Q2’24 run-rate of €1.6m vs €0.8m LY) and has recently been onboarded by a Tier 1 UK bank. Plus in terms of the balance sheet, net cash impressively ended June 2024 at £20.5m (or 10p/diluted share) vs £18.7m in Dec’23 – after paying £1.9m in dividends, £1.8m of deferred consideration relating to past M&A and £0.5m in external SR costs. Leaving the group with ample fire-power for possible further synergistic deals in the months ahead. So how does this stack up vs analyst estimates? Well to me, #EQLS’ 33% top line growth appears to ahead of consensus FY'24 sales expectations of £119.1m (+25%). Meaning once the constraints of the SR are over, then there’s probably more than a decent chance of upgrades sometime in H2’24. That said, my conservative fair value for the stock remains at a prudent 170p/share, until new guidance is available (re Interims 9th Sept). Lastly I’m often quizzed by both retail and professional investors why the strategic review is taking so long (now 8 months)? Well not surprisingly there’s been plenty of conspiracy theories from the Bears. However for me, sometimes the truth stares you squarely in the face. That being the business is performing far better than almost everyone anticipated when the original takeover discussions started. Thus increasing the group’s intrinsic value as the fundamental investment case has kept getting stronger & stronger. Who knows how the SR will end - albeit the next PUSU deadline for the TowerBrook Capital & Railsr consortium closes at 5pm Wednesday 10th July. IMO, this simply comes down to whether #EQLS' Board & institutional shareholders can agree a fair & acceptable price with the buyer. Disclosure: I own shares in @equals__money , who is also a @VOXmarkets client. |
Posted at 08/5/2024 10:57 by 74tom I've seen many stupid IC articles in my time, but think this one takes the biscuit;The author clearly hasn't done any actual research, just relied on numbers from whichever data feed they get. All 3 of WISE, EQLS and ALPH report their revenue in different ways; WISE splits out interest income from customer balances but reports & forecasts it as underlying revenue ALPH splits out interest income but DOES NOT report & forecast it as underlying revenue EQLS doesn't split anything out, but if WISE, ALPH, AGFX & CSFS all benefit significantly from interest income on customer balances then it seems unfathomable that EQLS has missed out What this means is that if you compare the 3 without analysing their accounts then you are going to come to some foolish conclusions - as Paul Jourdan of Amati highlighted back in December ALPH reported PBT of £115m last year & should do significantly more this year, it's current EV is £700m, so EV / PBT is 6x, not the 14x 'bearbull' thinks If EQLS traded at the same valuation as ALPH, then the £26m forecast EBITDA for FY24 would value the business at £156m / 83p a share If ALPH traded at the same valuation as EQLS then it would be trading at £30 a share And yet the column reckons they trade at a 50% discount to ALPH, so shareholders should expect a 200p+ offer, and still be disappointed! If you plug in the actual figures (and the fact EQLS don't disclose interest income) then the article would have to have a completely different narrative. |
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