Neteller Share Discussion Threads

[neo123] 15/8/2007 12:27

mkt needs to know can nlr survive without the yank, the legislation is absolutely ridiculous...

If nlr show good growth in the rest of the world can see some +ve momentum shortly. Surprised its fallen this far. One would assume they would dispose the calgary building..

[dealy] 15/8/2007 12:07

does it make sense what I say about the building in Calgary?

[neo123] 15/8/2007 11:50

agm on monday morning, interesting. Im surprised its fallen this much..

[sharedoc] 14/8/2007 21:47

1.The total amount of cash available to the Group totalled $213.5 million at 31
March 2007. The Group purchased the building in Calgary where its principal
operations are based during the first quarter of 2007 for a cost of $20 million
which augmented approximately $12 million in improvements the Company had
capitalised in 2006. The Group's total cash available at 30 June 2007 totalled
$210.5 million. Both of these total cash figures are stated before allowing for
the up to $60 million of funds seized by the US authorities in January 2007 and
thereafter. Cash available to the group is the total of cash and "Restricted
Cash" which are funds held in trust for customers and merchants in excess of the
relevant liabilities.

2.The Company has also agreed that it will, as part of the US resolution,
implement the Distribution Plan to return approximately $94 million of funds
owed to US customers. This amount is currently held in trust accounts with the
Group's European bankers. The repayment of this amount will have no impact on
the Group's own cash position.

Im sorry if this question sound stupid but couls someone please explain why in 1. they say that total cash includes restricted cash and in 2. they say that repayment of the $94 million owed to US customers will have no impact on the groups own cash position ?

[neo123] 14/8/2007 18:45

the company needs to build it reputation again, the Yanks have totally screwed us. I can see this at around £1.20 by year end and in a few years at £3. Take it step at a times.

Hopefully in a few years the yank will amend the bill. Which is ridiculous.

[crosswire] 14/8/2007 17:25

Nice 600k buy after close!!

[neo123] 14/8/2007 16:00

thick basd, they have around £35m in bank and they are cf+.

lol

are you a stalker!!

[binary 555] 14/8/2007 15:54

another dog for neo


LOL a dead cat bounce. expect a rights issue @ 20p. bust by june 2008

[neo123] 14/8/2007 15:36

from iii sniffer dave

nlr propose to buyback up to 12m shares over the coming 12 months.

You can vote on this resolution (although I don't expect much decent from the major holders, so perhaps no need).

My analysis

1) This shows nlr is confident of remaining cashflow positive.
2) I see this as an excellent use of cash reserves. i.e. returning some of it.
3) This should (will) have a positive effect on the shareprice. Buying average 1m per month, is alot of upside pressure on liquidity.

Full Details below.

As an Ordinary Resolution:
f) That pursuant to and in accordance with Article 11 of the Company's Articles of Association, and with Section 13 of the
Companies Act 1992, the Company be generally and unconditionally authorised to make market purchases (as defi ned
by Section 13(2) of the Companies Act 1992) of ordinary shares of 0.01 pence each in its capital, provided that:
i) the maximum number of shares which may be acquired is 11,992,095;
ii) the minimum price that may be paid for each ordinary share is 0.01 pence;
iii) the maximum price which may be paid for each ordinary share is an amount equal to 105% of the average of the
middle market quotations for the ordinary shares of the Company derived from the Daily Offi cial List of the London
Stock Exchange plc on the fi ve business days immediately preceding the day on which such share is contracted to
be purchased; and
iv) the authority conferred by this resolution will expire at the conclusion of the next Annual General Meeting of the
Company unless previously revoked, renewed or varied by the Company in General Meeting, but any such expiry
will not prejudice the completion of a contract already entered into by the Company pursuant to this resolution.

[don777] 14/8/2007 15:23

Neo123,
NLR mentioned buyback ages ago when share price was over £6.
then i did not hear any buy back later.

where did you get its 11M shares buy back? or old news?

thanks

D

[neo123] 14/8/2007 14:57

results next week hopefully some positive momentum in the run up.

The company plans to buy back somewhat of 11m shares, if the resolution is passed at the agm. Thats only +ve for the share price ..

[neo123] 14/8/2007 12:02

Keevo

mkt cap 171 with 71m profit, not bad.

The yanks will regulate online gambling, thats for sure, the analyst are confident that will happen. Once its regulated, we will be back in..

At the moment concentrate on asia and australia. Good growth prospects.

My point was half the value of NLR is in cash unlike sbt..

[keevo] 14/8/2007 11:13

is sbt a buy ........ £38m in cash.....

if you can overlook all the bad press online gaming has got and all the worry about new laws being passed then they are both great buys at these levels.

[neo123] 14/8/2007 10:06

is nlr a buy at these levels £35m in cash...

[crosswire] 14/8/2007 06:54

The e-wallet recently began paying out over $94 million in US player accounts, frozen in January this year by the Department of Justice investigation which followed the arrest ot two Neteller founders and the company's exit from the US market.

Approached for comment, spokesman Andrew Gilchrist, who is VP Corporate Development & Communications for Neteller said:

"We have been investigating the issues which you raised.

"We typically mail a large number of cheques to our customers across various countries and occasionally there are presentment issues. We would therefore regard the incidences referred to as not unusual given the volume of cheques we have been mailing as part of the US distribution plan.

"You may be interested in the following statistics in relation to our US distribution plan: to date, of the $94 million due, $68.5 million has been requested (73%), of which $60.5 million has successfully cleared, and $8 million is pending/ on-route / in mail.

[drjudywood] 13/8/2007 19:49

IT IS OVER FOR NETELLER...ITS PRTY.888 THAT SHOULD WORRY NOW..THEM 2 COULD BE WIPED OUT

[neo123] 13/8/2007 19:12

drjudywood

The results are irrelevant until the US shenanigans are over.

[drjudywood] 13/8/2007 17:12

7 trading days until results...hmmmm

[nellum] 13/8/2007 16:59

hey, I'm a vog holder too

it was bound to happen !!!

[nellum] 13/8/2007 16:36

tee hee hee

[nellum] 13/8/2007 16:18

this will be red by 16:31 - count on it