Games Workshop Share Discussion Threads

[nod] 03/10/2018 20:33

My understanding is that they are awarded a bonus in cash, of which at least 50% of that bonus cash must be used to buy shares. Each purchase of (award) shares must be held for at least two years after purchase. ? It's a slightly convoluted way of awarding them in cash and shares in a 50/50 ratio.

[woozle1] 03/10/2018 13:48

He bought shares and, I imagine, it will be matched by the company.
w1

[push n run] 03/10/2018 13:48

Yes, they had to buy them, they were not awarded. From the annual report:

"The introduction of an exceptional bonus award will enable the committee to reward the executive directors’ outstanding performance in a way that is directly aligned with shareholder interests. The award will be delivered in cash and will be capped at 100% of salary. The committee will require that the executive directors invest 50% of any bonus awards (net of tax) into shares in the Company, which it would expect to be held for a minimum of two years."

[glaws2] 03/10/2018 13:20

Perhaps I have misinterpreted it but have they not had to buy the shares ?

"Kevin Rountree, Chief Executive Officer of Games Workshop, acquired 2,761 ordinary shares of 5 pence each ("Ordinary Shares") in the Company in line with the requirements of the Exceptional Bonus Award at a price of £39.025 per share. "

[nod] 03/10/2018 10:02

Last year when Kev & Rach were awarded their bonus shares the price was GBP13.0774. They have deservedly built up a nice nest egg over many years.

[daijavu] 02/10/2018 13:10

Most of the stockmarket seems to be going down today.

[nod] 30/9/2018 22:04

We had an exceptionally strong rise following the results on 31 July when the share price was around 3000. Pull backs are a part of the stock market. It's just a bit of profit taking. I don't believe the fall reflects a change in sentiment towards the company. Fred, I hope your treatment goes well. Best of luck.

[hatfullofsky] 30/9/2018 17:09

Unbelievable reaction £20m is nothing now we are over £1bn. Bounce back in short order

[nod] 29/9/2018 04:42

A write up in Shares MagDon't be spooked ....https://www.sharesmagazine.co.uk/news/shares/games-workshop-ex-chairman-cashes-in-20m-of-stock

[shanklin] 28/9/2018 18:02

It's certainly better this way, than when companies announce a dividend when they don't have the relevant cash, so set a payment date six months in the future.

[greyingsurfer] 28/9/2018 16:26

LSE rules are 6 working days notice of ex div - which was just achieved in this case!

Peter

[mozy123] 28/9/2018 12:23

Hes bought a new mansion, and his wife is decorating it with a minatures paint brush. Needs the funds to pay her! Will take a while.

[cockerhoop] 28/9/2018 12:17

Do keep up! - Dividend announced 19th Sept

[cockerhoop] 28/9/2018 12:15

FoF,

Tom Kirby ex-CEO & Chairman owned approx 6.6% of the company. He wanted to sell some in an orderly way so a placing was arranged for him to sell 1.7% at £36.50.

The number of shares in issue haven't changed. Tom has agreed not to sell any further shares for 180 days.

Rumours that he's spending all the money on a new collection of resin models are apparently unfounded!

[flatoutfred] 28/9/2018 11:37

Ex Divi ? Yesterday ?? When was divi announced ?

Also, I don't understand what the placing above means. Yes, I know I'm thick !!

Flumaxed Fred

[essential] 28/9/2018 09:19

Already a top holding for me ad just topped up

[sd_anon] 28/9/2018 09:06

Looks like a great opportunity for a day trade IMO. Topped up this morning. Lovely, thanks Tom.

[nod] 28/9/2018 03:03

An insti will grab those and look to make a quick 5% in smaller sales. Tom could have looked to sell all his shares so this is not bad.

[greyingsurfer] 27/9/2018 20:31

Agreed, (though probably nearer 8% when you allow for going ex div today too). But it's a large slice and the priority was probably to get it away quickly and smoothly.

Likely to be a negative response tomorrow, but I doubt it has much long term impact. Having said that I'm not sorry to have decided to topslice 50% of my holding at a bit over £40 two days ago. I don't see myself selling the rest anytime soon, but the position was getting larger than I was entirely happy with for such a highly rated stock, and I'm sitting on a decent short term profit.

Peter

[epo001] 27/9/2018 19:55

10% discount seems an awful lot to leave on the table.

[santr0] 27/9/2018 18:46

Daijavu, thank you for sharing this information.
They also announced the results of the placing. I attached them below.

Result of Placing of approximately £20 million of ordinary shares in Games Workshop Group PLC ("Games Workshop" or the "Company")

Further to the announcement made earlier today in relation to a proposed placing of ordinary shares in Games Workshop by ex-Chairman Tom Kirby (the "Seller"), the Seller announces that he has sold 556,301 ordinary shares (the "Placing Shares") in the Company at £36.50 per share (the "Placing"). The Placing Shares represent in aggregate approximately 1.7 per cent of the Company's issued share capital.

The Seller will continue to hold in aggregate approximately 4.8 per cent of the issued share capital of the Company. The Seller has agreed to a customary lock-up on his remaining shares which ends 180 days after the completion of the Placing.

The Placing was conducted through an accelerated bookbuild. Peel Hunt LLP (the "Bookrunner") acted as sole bookrunner for the Seller in connection with the Placing.

The proceeds of the Placing are payable in cash and will be settled on a T+2 basis (unless otherwise agreed with the Bookrunner), and settlement of the Placing is expected to occur on or about 02 October 2018.

The Company is not party to the Placing and, as a result, the Company will not receive any proceeds from the Placing.

[daijavu] 27/9/2018 18:01

This was announced at 16:40 today:

"27 September 2018

Proposed placing of approximately £20 million of existing ordinary shares in Games Workshop Group PLC ("Games Workshop" or the "Company")

Peel Hunt LLP (the "Bookrunner") has been appointed by Tom Kirby, the Company's ex-Chairman (the "Seller"), to explore the opportunity to sell approximately £20 million of ordinary shares in the Company (the "Placing Shares"). The Placing Shares represent approximately 1.6 per cent of the Company's issued share capital.

The Placing Shares are being offered by way of an accelerated bookbuild (the "Placing"), which will be launched immediately following this announcement. The Bookrunner will be acting as sole bookrunner in connection with the Placing. The Placing is not underwritten.

The results of the Placing will be announced as soon as practicable thereafter. The timings for the close of the bookbuild process and allocations are at the absolute discretion of the Bookrunner.

The Seller has agreed to a lock-up on his remaining shares (subject to customary exceptions) which ends 180 days after the completion of the Placing.

The Company is not party to the Placing and, as a result, the Company will not receive any proceeds from the Placing"

[push n run] 25/9/2018 20:19

I think the terms of a deal matter to us, i'm surprised investors are so relaxed about it. I can't see toy soldiers being a priority for negotiation in the event of "no deal", and trade barriers simply increase costs.

The company said this:

"Following the UK Government invoking Article 50 of the Treaty of Lisbon, notifying the European Council of its intention to withdraw from the EU, Games Workshop has reviewed the impact that this may have on the Group. The key risks relate to the movement of goods from the UK to the EU across all sales channels as well as the recruitment and retention of EU nationals working in the UK. These risks are being assessed and plans are being reviewed to help mitigate the possible impact of these changes."