Leisureplay Share Discussion Threads

[james 2] 13/7/2004 11:01

guru11 - small sells have been flying in for days, but the buy trades reported have been for 2 million+.

Not sure what you mean in your last sentence.

rgds
j2

[guru11] 13/7/2004 10:55

Price now 15p / 16p - Still defying logic,
even though the screen has gone red and the majority are sells today,
apart from the extremely weak fundamentals of the Company.
Above posts means next day for 15p, unless the bid price does rise to 16p in the meantime.

[james 2] 13/7/2004 10:52

Merrickman, to be honest I am surprised the price just keeps rising and as said before & took out my initial stake when the RNS came out for peter Gyllenhammer's sale.

However the new 3p buyers you speak of are being picked up by Professional & institutional investors who will have a vested interest in the price rising further imo see extract below :

The 80 million new ordinary shares of 1p each to be issued will be subscribed
for by a number of professional and institutional investors who, together with
the Board, will facilitate, support and identify specialised financial
activities which are expected to contribute significantly to the restoration
and growth of shareholder value. The lead investor will be Mr. Terry Ramsden,
who has significant expertise and experience in global financial markets

Also the 80 million has been known about and the price still keeps rising, big buyers are still picking up 2 million at a time at these levels.

Where will it stop I don't know but can only assume that those buying 2 million at a time know alot more about the direction of the soon to be named caplay than I do, and to this end I am happy to hold the remainder of my stock until news from the EGM.

rgds
j2

[merrickman] 13/7/2004 10:39

James if LPY win in turn they will only get costs - but no compensation. I do think the EGM will be interesting but surely the 3p share dilution should be scuppered - however that would mean Mr Ramsden would lose his 5p options

Do you think the new 3p buyers would seriously not sell their shares the next day for 16p ?

"Mr. Ramsden will be granted options, exercisable within twelve months at 5 pence per share, which represents a 66% premium over the subscription price. These options are intended both to reflect and reward the value that Mr. Ramsden adds to the Company."

[james 2] 13/7/2004 10:31

Merrickman as you say it all depends on the facts of the case as to who will win. So surprised you only talk about the cost to LPY and that the courts will be favourable to the founder !

Also I do not believe the current price is nased on fundamentals, no doubt all will be revealed in the upcoming EGM !

rgds & good luck
j2

[merrickman] 13/7/2004 10:26

If they lose then it may cost them at least halve a million. say £350K compensation and at least £150K costs. Worst case full ammount of £800K compensation and £200K costs awarded. Each to their own - but I think those long have enjoyed (and deserved for taking the risk) excessive profits. The fundementals and the MMs walking up is highly suspicious. Even if they settle court case then costs and compensation mimimum £250K which is nearly a third of current cash. They should settle as it is more than likely the courts will be favourable to the founder. It all depends on the facts of the case as to who will win.

I don't know the game in play. Maybe squeeze to trap the T10s who shorted at 6p but on fundementals this share price simply does not add up. With the existing price there is no way the 3p share offer should be approved. But if the company did a 1 for 1 10p share offer (then this would make more sense) but looking at fundementals why would you even pay 10p - now that would be a shorters trap.

Good luck but can anybody give me a solid business reason why these should be 16p.

[pylon] 13/7/2004 10:16

Yes - possibly.

It is strange that the defendant is cited as Murray Financial and not Leisureplay (or should that be Caplay)!

[james 2] 13/7/2004 10:14

Thanks & even got the court number ;-)

[philjh] 13/7/2004 10:13

pylon - it may still be listed as a hearing but I'd be hugely surprised if it actually happens - Murray's claim looks massively overstated

[pylon] 13/7/2004 10:11

I'm pretty sure that anyone can go and watch the proceedings.

It will be an interesting case if it is heard and I recommend attending.

[pylon] 13/7/2004 10:08

However, PhilJH, there is a court hearing scheduled today in front of Justice Burnton in Court 11 I believe.

Check out the following link:

[philjh] 13/7/2004 10:04

agreed pylon - contested litigation too risky for Murray

[pylon] 13/7/2004 10:02

They will have settled out of court - imho ;-)

[james 2] 13/7/2004 10:00

Are they likely to announce the outcome of today's court case ?

[saloch] 12/7/2004 19:30

i am prepared to sit tight after buying sub 6p, but see 20p short term.if any one has any thoughts on ORT, spin off from Griffin Mining. put 2k in since day of float ,but the quietest bb on advfn.

[james 2] 12/7/2004 15:29

Starting to move up again !

[paddyfool] 12/7/2004 14:28

there is definately something going on here........The market makers clearly know something is afoot. We know that EVO are not short of stock. yet they keepon soaking up the buys. There must be a ready buyer out there. Otherwise this would have crashed and burned. I got in for 220,000 at 8.5p sold 60,000 at 12.25p and intend to hold the rest until momentum dries up which I dont think will happen for a while yet. dyor imho etc.

[shaunoneill] 12/7/2004 14:23

i dont know, i have good profits now but i think they will hit 20p way b4 egm.

[james 2] 12/7/2004 13:37

Selling drys up ---> The price rises.

Buyers come in ---> The price rises.

What do I think ? Wait until the EGM imo.

[shaunoneill] 12/7/2004 13:21

I take it back tick up.

[shaunoneill] 12/7/2004 13:17

not really a move like other days only 0.80%

[james 2] 12/7/2004 13:14

And up she goes !

[merrickman] 12/7/2004 13:11

The Company's short-term loan to Chartcity, and the provision for, and cost of,
defending the claim by the former Chief Executive, has led to a reduction in
its liquid cash resources. Clearly the disposal of the Chartcity portfolio, and
any degree of success in the forthcoming Court hearing, will see your Company's
cash resources largely reinstated. However, under the circumstances, your Board
has thought it prudent to augment its capital resources by seeking investment
from third parties.

Your Board is proposing, subject to shareholder approval of the resolutions
contained in the notice of EGM attached to this letter, to raise a total of ?
2.4 million from new investors by the issue of 80 million new ordinary shares
at a price of 3p per ordinary share.

[merrickman] 12/7/2004 13:08

Paddy I have ammended my post as I do not know - the problem is so many sells have been report late or mid price it is impossible to read situation. The main problem is EVO are not declaring price paid nor M trades - For a director to sell he would pre-nogiate such volume at discount to market price on 28th these were 2.7 p) . I agrea something has caused this rise - but the price is beyond reason - maybe EGM will shed more light - even if they win the court case the cash award/repayment of costs will not add back much to CPS - If they lose then where is the £800K cash + costs to settle and if they are so confident why announce share placing to raise cash as they have depleted funds

""""""" Leisureplay is proposing to raise a total of 2.4 mln stg via the issue of 80 mln new shares at 3 pence apiece. It is also planning to sub-divide existing shares, currently at 5 pence per share, to 1 pence and one deferred share of 4 pence each. """""""""""

If trading pattern repeats these will rise late afternoon.