Gvc Share Discussion Threads

[coxsmn] 26/1/2018 19:21

Looking forward to a strong World Cup this year post completion of the LCL acquisition.

[t 34] 26/1/2018 18:13

How it can affect the divi ???

[davr0s] 26/1/2018 17:55

Well what a non event - astonished it wasn't marked down heavily at the open if only give an excuse to stop people. Very encouraging that the share can show such strength. Market never fails to surprise

[srpactive] 26/1/2018 17:53

M

Thank you, good post.

[mylands] 26/1/2018 17:42

For those who are interested here is the Berenberg statement, or part of it:

Berenberg said the amount of tax demanded by Greece "grossly" overstates how much GVC should owe in back taxes. It estimates that the tax-only component of the request from Greek tax authorities should be around €10m. The bank also noted that the current Greek business is licensed and that the company has been regularly paying gaming taxes on it since 2013. As a result, it argued that there is no threat to the company’s legitimacy in Greece and no threat to the Ladbrokes Coral acquisition.

"But there is a risk it may not get all its money back: That said, even if the ruling ultimately finds in favour of GVC, it could take a long time for the company to recover the money from Greece, and it may not recoup the full amount. We have therefore factored into our GVC price target a 50% likelihood that it will end up not recovering the full €200m, which has shaved 30p off our previous price target of 1,100p (now 1,070p). While initial market reaction is likely to be negative today, we would remind investors that, even in the worst-case scenario, €200m represents circa 6% of GVC’s standalone market cap, and 3% of the combined GVC-Ladbrokes Coral group."

Whitman Howard said: "We treat the €93m a year as an exceptional in our P&L, so whilst reported earnings would reduce, our underlying adjusted profits for the business remains as before at 65c for FY18 and 72c for FY19. We adjust our FY18E and FY19E cash forecasts for the €93m outflow a year and as a result the balance sheet swings into net debt of €77m (previously net cash of €17m) in FY18E and net debt of €61m (previously net cash of €127m) in FY19E.

"GVC’s balance sheet on a standalone basis remains robust with net debt/EBITDA ratio below 0.5x for FY18E and FY19E, despite the €93m outflow relating to tax."

[noujay] 26/1/2018 17:28

That's 50m Euro profits each year by the way!

[nurdin] 26/1/2018 17:12

12 Apr 2017 - The penalty for non payment of withholding taxes is 50% of the amount of taxes that were not paid. Moreover, in the case of late settlement of the tax due, interest will be charged for each month of delay calculated at the rate of 8.76% annually, i.e. 0.73% for each month of delay.

[nurdin] 26/1/2018 17:05

Yes my thought too...

[noujay] 26/1/2018 17:02

If it doesn't then it highlights the level of the scam. If it does then then punitive is an understatement!

[nurdin] 26/1/2018 16:54

I wonder if that tax bill includes any interest charges? Will not be insignificant if it does.

[noujay] 26/1/2018 16:44

Thanks share price likewise. When I woke up earlier I didn't envisage £9.20 despite the fact I think this is nonsense so a decent end all told.

[srpactive] 26/1/2018 16:35

IN THE KNOW: Berenberg Says GVC Likely To Win Greek Tax Bill Appeal
GVC Holdings fell on Friday after disclosing late Thursday it faces a EUR186.8 million tax bill from Greek authorities, though Berenberg said the...

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No I am sorry, here it is above,
I was thinking of something else my head is in pieces
today, enjoy your weekend.

[noujay] 26/1/2018 16:22

Sorry I thought you said a comment from berenberg was made, which I've not seen

[srpactive] 26/1/2018 16:09

N

As I said it is just what I feel is based on
what I have taken from the thread, if I am
wrong, I am wrong.

[noujay] 26/1/2018 16:05

Can you share that sp? Interested to see

[scottishfield] 26/1/2018 15:35

Well, what a performance. I topped up this morning. thank you.

[nurdin] 26/1/2018 15:13

Maybe so but the case could drag on for a year or two.

[srpactive] 26/1/2018 15:06

Berenberg has made a positive comment on
gvc winning any appeal, dyor.

[crookman] 26/1/2018 14:54

Think you found the bottom!!

[melody9999] 26/1/2018 14:46

Yep 50% sold for me at 903p. Anyone 'beat' that as the worst trade price?!!

[crookman] 26/1/2018 12:35

Red, I could of posted the exact same post. I too had that sleepless night and sold the lot at 908, totally shocked this stayed above 9 this morning. Feel much more comfortable now having banked a 300% return. Will be happy to come back to this when some of these uncertainties are clarified. Good luck to all holders.

[red_shed2000] 26/1/2018 12:21

Well I sold my entire holding this morning at 907p. I had a sleepless night last night convinced it was going to be absolutely decimated and thinking how I wish I could sell for above 900p. I nearly choked when the trade price finally came up on Barclays!!

Do I regret it...well yeah, obviously....however, one of the things that ways stayed with me after reading the Naked Trader a few years back:

Ask yourself the question if you are wondering whether to sell a share...if you didn't own any, would you buy some right now?

As much as I love this company, the answer right now is no. Tax uncertainty added to the LCL deal (which I could just about tolerate risk wise on its own) and it's too much for me.

I have little doubt in the long run this will double but the likelihood of a few bumps in the road has just significantly increased for me.

Good luck to all that held their nerve...I'll be back one day...probably when the Greeks have 'done one'!

[festario] 26/1/2018 11:12

The resilience has astonishing me.