Game Share Discussion Threads

[brx7] 31/3/2012 20:15

sold for a quid for that man there with a stanley knife

[daytraders] 30/3/2012 18:08

Contrary to what we heard from a partner at law firm Thrings today, MCV is also reporting that GAME and Gamestation gift cards will likely soon also be reactivated.

[typo56] 30/3/2012 16:58

vision88, are creditors really being settled in full? I thought the whole point of being put into administration was that they couldn't be.

Why should shareholders get anything back if they have mismanaged their company so badly that creditors can't be paid?

[vision88] 30/3/2012 16:25

no idea loganair but as finacial investor through thick and thin ,and a take over now occuring we the investors deserve some credit for all the hardships we and only we have suffered,suppliers are geting fully reinbursed with there profits, so it seems rather mean to give nothing at all to investors as with out them GMG could not have been in existence, i rest my case for the moment.

[loganair] 30/3/2012 11:09

v88 as per my last sentence from post 4081 - The terms of the deal are thought to be brutal.

Also the administrator is not honouring gift cards which in terms of getting their money back are senior to share holders, so how will any share holder get more than ZERO for any shares held.

[vision88] 30/3/2012 11:04

what will the price be ? on opening on 100000 shares could get back £10 I surpose.

[loganair] 30/3/2012 10:46

GAME Group's administrator is unlikely to honour unredeemed gift cards.

That's according to Mark Cullingford, who leads the Restructuring and Insolvency Team at law firm Thrings LLP. He said that administrator PWC's decision to accept reward cards for pre-owned games is simply a move to shift stock that would likely suffer in a fire sale.

"In essence, the administrator cannot honour a liability on a voucher or prepayment to full value when other unsecured creditors may get paid p/£," he explained.

"The loyalty card issue is a little different because he is selling goods at a discount - when he may be selling at a discount anyway. He is simply agreeing to sell goods that he may not otherwise sell at that price on a fixed discount basis and if these are redeemable on pre-owned games only, these games are probably likely to suffer more in a 'fire sale' and therefore he will want to enhance his sale price on what would otherwise be goods that drop in real value quicker."

Cullingford continued: "A buyer might be willing to offer transferability of loyalty as an incentive for sales and retain customers.

[ihavenoclue] 30/3/2012 07:11

I was just asking a question I never said it would happen. I have written off the small punt I had here so getting anything from it will be a bonus.

Just a shame some chimps can't let people discuss what happened to learn lessons for the future IMHO

[ihavenoclue] 30/3/2012 07:10

speedway .. then why are you here looking at what is said then adding your opinion to the discussion. It amazes me how some people are so blind to their own actions that they actually just end up slagging themselves off !!

[reallyrich] 30/3/2012 00:37

debt for equity even at 10% suits me :-)

[dballantyne] 30/3/2012 00:16

So if that's the case why are YOU here?

[speedwaymad] 29/3/2012 23:30

0p - and finished. Whats the point of discussing it? You lot should get out more.

[dballantyne] 29/3/2012 22:40

Can but hope for something, still got my oilers GKP, RMP etc so this is not the end of the world just a real thorn in the side over the handling of it all.

[justthemoney] 29/3/2012 21:40

Guys you won't get anything from these blood suckers.
All being preplanned, and all already done and dusted.
Look at the speed it all happened, only 4 weeks ago it was all good, recovery in prospect..., why would anyone buy into a dead-cert corps? I'm sure Wal-Mart, GameStop, OpCapita, ... and others made offers, but RBS had already pencilled this one for themselves. You'll never know the truth of what has happened, you'll never see any accounts or records of what was sold and for how much.
RBS are not interested in having their money back, they wanted a 10-100 bagger for free. Unless there is a legal challenge from the big shareholders, really it is best to draw some lessons and move on with your lives.

[libertine] 29/3/2012 20:02

I can`t believe some still think they will get something for their shares.

[bingowing] 29/3/2012 19:30

i haveno


lets hope 6p a share ey?

[sanks] 29/3/2012 18:45

Its been poodaad...leave it out now.
Move on to another poodaa stock.

Hope this is helping
Sanks

[dballantyne] 29/3/2012 18:44

Very Good Question, any accountants out there know the answer to that one.

[logbaba] 29/3/2012 18:43

Let me tell you shareholders will get precisely ZERO from any deal.

[ihavenoclue] 29/3/2012 18:39

"But the retailer's syndicate of six banks is also continuing to evaluate a separate proposal to keep the U.K. chain on the high street, as part of a debt-for-equity swap, the newspaper reports, without citing any sources."

If this happens you can bet shareholders will end up, at best, 10% or less of the company IMHO How much is 10% of a debt free GMG worth ?

[loganair] 29/3/2012 14:35

GAME administration to end tomorrow with RBS as buyer:

Comet parent company OpCapita has bid again for GAME.OpCapita is apparently after the 333 stores (211 GAME, 122 Gamestation) that remain open.

OpCapita reportedly bid for GAME before GAME entered administration, but this was blocked by GAME's lending syndicate of six banks, lead by the Royal Bank of Scotland.

The RBS-lead syndicate hopes to buy parts of the UK GAME business and then appoint managers who will run GAME until it can be sold off.

The other party in the equation, GameStop, is thought to be interested in GAME's Iberian (Spanish/Portuguese) and Czech Republic business. GAME has 663 shops outside of the UK.

The Royal Bank of Scotland will buy GAME out of administration - and it could happen as soon as tomorrow.

But should the report run true, questions will be asked about RBS' rumoured block to a bid made by Comet's parent company OpCapita for GAME last week.

Should RBS buy GAME out of administration tomorrow, the business may not necessarily return to life as it once was. The terms of the deal are thought to be brutal.

[typo56] 29/3/2012 11:53

If the company have failed to pay landlords & suppliers, why should shareholders get anything? If I were a creditor I'd feel a wee bit peeved to see shareholders get a return (possibly even a profit if they bought low enough) when the company owned by those shareholders owed me money.

[loganair] 29/3/2012 10:46

British private investment firm OpCapita has submitted a renewed bid to acquire parts of video games retailer Game out of administration, a source familiar with the situation said.

Last week OpCapita had an offer to buy Game's debt and pay suppliers rejected by lenders, led by Royal Bank of Scotland and including Barclays and HSBC. The lenders are working on their own proposal.

However, since then GAME has entered administration and is now a very different beat to how it once was following the closure of 277 stores and the sacking of 2,104 staff.