Neteller Share Discussion Threads

[restassured] 10/10/2008 11:59

Wise man in a world of irrationality

[restassured] 10/10/2008 11:58

RNS Number : 5768F
NETeller PLC
10 October 2008




NETELLER Plc

DIRECTORS' DEALINGS


Friday 10 October 2008 - NETELLER Plc announces the following purchases by directors of
the Company in the Company's ordinary shares
0.01 pence which took place earlier today:


Director Number of shares purchased Price Total holding % of issued
( following share
pence) notification capital

Ron Martin 50,000 50p 110,000 0.1%

The total number of shares in issue as at 9 October 2008 was 119,920,953 ordinary shares
of GBP0.0001 (0.01 pence).




Enquiries:

Andrew Gilchrist + 44 (0) 1624 698 713
VP Communications, NETELLER Plc
Email: [e-mail]


Daniel Stewart & Co Plc + 44 (0) 207 776 6550
Paul Shackleton



This information is provided by RNS
The company news service from the London Stock Exchange

END

[pandide] 10/10/2008 11:32

Everyone has probably seen this report. Here it is just in case:

NETELLER - BUY Price: 51p Target price: 120p Code: NLR.L Analyst: James Hollins


Exceptional value; proposed name change

NETELLER has announced a proposal to change its name to NEOVIA Financial Plc.

The group has expanded its product offering over the past two years and is now a fully integrated global payments business, encompassing the original NETELLER e-wallet operations, as well as the payment gateway, NETBANX, and the payment cards business, Net+.

The group correctly feels that the offer of a complete and integrated offering to merchants and consumers alike cannot be marketed appropriately under the group NETELLER moniker, associated with just the e-wallet, and is therefore seeking approval for a change of name to NEOVIA Financial (translated as 'New Way').

The name change is subject to shareholder approval, with an EGM to be held on 11 November 2008 and a proposed change in mid November, including a move to a new ticker, NEO.L.

The name change underpins the significant efforts and technological advances made by the group over the past two years, from a gaming e-wallet to an integrated payments business, as well providing a fresh group re-brand ahead of expected new product roll-outs and geographic expansion over the next 12 months.

NETELLER has a market leading e-wallet, but also has a strong, well-invested and fast growing payment gateway business in NETBANX, with the most recent card products, Net+, allowing consumers to utilise both physical and virtual cards to transact online and at >30m Mastercard POS/ATMs.

As detailed in our research note of 3 September 2008 ('Stampeding ahead', TP 120p, Buy) where we upgraded forecasts and target price, the group has the brands, client relationships and product functionality to deliver strong volume growth, cash generation and exceptional merchant and customer growth.

All these factors underpin our bullish stance and projected earnings growth in FY09E of c.16% (11.18c vs 9.66c FY08E).
Furthermore, the group's equity value is currently covered 85% by group net cash ($93m/£52m net cash vs mkt cap £61m). This equates to an implied valuation on the ex-cash NETELLER business (enterprise value) of just £9m.
Assuming only minimal free cash generation growth (we forecast FCF of $10.7m/£5.9m in FY09E), the shares are woefully undervalued. Our EV/EBITDA analysis points to a multiple of 0.4x FY09E and a negative 0.1x FY10E. This implies the group will either fail to generate a meaningful uplift in group EBITDA over the next two years, or that it will dwindle away its cash resources with no resulting uplift in group returns. We view both scenarios as highly unlikely.
With 135% upside to our unchanged 120p price target, we retain our strong Buy recommendation.

[aspex] 09/10/2008 19:24

Yes agreed.
As I pointed out the reasons appear valid in their case.

[petethehippy] 09/10/2008 11:10

agree it is a change in holding name only.

these guys are doing all the right things with the amount of new business coming on board .. and a ton of cash in the bank.. if the rebound holds this week... then the only way is up

[powwow] 09/10/2008 11:00

25cent

Now the constant sellbot is putting sell orders on level 2 at under 60p.

Meaning?

[pandide] 09/10/2008 10:52

They are not changing their brand name.
Only the name of the Holding Company.

[davidlloyd] 09/10/2008 09:06

In agreement with you on that one aspex - change of name is not a good sign in my past experience.

DL

[aspex] 09/10/2008 07:42

" NETELLER Plc (LSE: NLR), a leading independent, global provider of online payments, is pleased to announce that it is proposing to change its name to NEOVIA Financial Plc. A circular has today been sent to shareholders and is also available on the Company's website.
The new name represents a strategically important evolution for the NETELLER Group. It builds on a year long rebranding process to
differentiate the parent company from the Group's operating brands of NETELLER, NETBANX and Net+, each of which has a strongly established
brand identity and reputation. The name, meaning "New Way", supports the Group's strategic vision of providing differentiated, bold and exciting online payment solutions that target merchants and their "online generation"
customers. "


So they are changing their name.
The reasons appear valid but I am afraid I am always suspicious of name changing

[pandide] 08/10/2008 09:41

That's my understanding as well.

The downside is their turnover will probably be reduced with any general decrease in economic activity.
On the other hand, the turnover might actually increase with increasing nervousness with the terrestrial banks.

As you say, NLR is purely a Payment Processor. It's not subject to the risks of banks.
But it does need to keep its money somewhere doesn't it? Where? In a bank?

[philjeans] 07/10/2008 11:15

agreed - all their deposits will likely be spread around the many agent banks they use, thus minimising any risk.

Super duper recession proof, cash rich business just right for the picking!

[dan1man] 07/10/2008 11:08

My theory is they cant possibly be in any trouble as they don't lend money on any signifiicant scale.

They're also cash rich so don't even need to borrow it.

I would have thought that with confidence in normal banks collapsing, this could actually be a good opportunity for them. At worst, the global events should have a neutral effect on NLR.

Market doesn't seem to think so though - heading back to the lower end of our normal 50-70p trading range.

[pandide] 07/10/2008 10:05

Does anyone know and understand whether NLR is exposed to the global financial turmoil. How will NLR be affected?

[trader_666] 05/10/2008 20:41

my money is on red 5p IMHO

[25cent] 02/10/2008 13:30

Its the massive overhang keeping this at this level, hopefully once this is clear this will be trading at 80p plus.

[dan1man] 02/10/2008 12:21

Amazing the amount of good news coming out of this company...they seem to be launching something new every week at the moment.

Lack of penetration into asia is, i agree, disappointing but with so much else going on, I wonder what more the market wants??!

[malcolme2] 02/10/2008 11:50

I must admit that I thought the NLR would target asia heavily to get back the gambling related business they lost in America. I am happy that they are also looking at new initatives in markets where people know the brand as well. This direct debit thing looks good.

I am a contented holder at the moment.

[aspex] 02/10/2008 08:09

Nice one!

NETELLER Launches New Paperless Direct Debit Service to Speed up
e-Commerce and Reduce Admin Errors.

Time Etc chooses NETELLER Payment Suite to speed client payments.

Thursday 2nd October 2008 - The NETELLER Group (LSE: NLR), the independent global online payments business, has announced the launch of its new paperless Direct Debit service as part of its Payment Suite. The new service enables online retailers to offer a speeded up and simplified sign-up process to UK customers. It also decreases administrative costs and errors, and means the merchant does not need to go through the expensive and time-consuming process of obtaining AUDDIS compliance.
------------
Time Etc, an organisation that provides pay-as-you-go support to business owners and entrepreneurs, is already using the new Paperless Direct Debit service from NETELLER. Barnaby Lashbrooke, founder, said: "Our clients want a
speedy service and we need to provide this. By allowing clients to set up the payment options themselves, errors are reduced and they can start receiving our great service immediately."

[peel green] 29/9/2008 15:42

Crumbs, it's level. That's very good on a misery-Monday like today.

[welsheagle] 24/9/2008 20:08

Evolution recommended as a 'buy' today with a target price of 72p.

[25cent] 24/9/2008 12:45

I am just glad we are not getting badnews RNS each week, can you imagine what the shareprice would be then if it performs like this has over the last few weeks after all the good news.
Lord knows how long it will take to clear the overhang on this stock.
It looks like it may be a long wait i am afraid for value to come through.
Now the constant sellbot is putting sell orders on level 2 at under 60p.

[welsheagle] 24/9/2008 07:27

RNS Number : 1324E NETeller PLC 24 September 2008

NETELLER Expands European Offering Across Payment Suite

Payment Suite adds more local European languages, currencies and payment options

Wednesday, 24 September 2008 - NETELLER Group (LSE: NLR), the independent global online payments business, today announced that it has released a raft of new services and improved functionality for its Payment Suite that directly support the Group's online merchants' Europe-wide business growth.

The NETELLER Payment Suite features the NETBANX international payments gateway, the NETELLER e-wallet and Net+* cards. NETBANX allows merchants to accept card and non-card payments through multiple channels including online, contact centres, mail order and via automated phone systems. The NETELLER e-wallet allows consumers to spend securely online as well as allowing merchants to increase customer lifetime value. Net+ cards allow merchants to extend customer loyalty and lifetimes.

These significant European enhancements to the NETELLER e-wallet include:


OPEN TO MORE COUNTRIES: THE NETELLER E-WALLET, ALREADY WIDELY ACCEPTED ACROSS THE VAST MAJORITY OF THE EEA COUNTRIES, NOW ACCEPTS - AND IS AUTHORISED AND REGULATED BY THE FSA FOR - NEW MEMBERS FROM ESTONIA, HUNGARY, LATVIA, LITHUANIA, SLOVAKIA, SLOVENIA. NETELLER E-WALLET WILL ALSO BE AVAILABLE SHORTLY TO CUSTOMERS IN BULGARIA AND ROMANIA.

CONVENIENCE OF MORE EUROPEAN DEPOSIT METHODS: THE NEW VERSION DRIVES INCREASED FUNDING CONVERSIONS BY NOW ALLOWING CONSUMERS TO TOP-UP THEIR NETELLER E-WALLET VIA CARTE BLEUE, CARTA SI, DIRECTPAY24, UKASH AND THE POLI/UK CONSUMER INTERNET BANK PAYMENT SERVICE, AS WELL AS ALL THE EXISTING CARD AND NON-CARD METHODS.

EXPANDED EU CURRENCY SUPPORT: WITH THE RECENT LAUNCH OF NEW CURRENCIES FOR HUNGARY AND POLAND CONSUMERS CAN NOW REDUCE THEIR FOREIGN-EXCHANGE COSTS BY OPENING E-WALLET ACCOUNTS IN EUR, SEK, GBP, NOK, HUF, PLN, AND DKK EUROPEAN CURRENCIES AS WELL AS OTHER NON-EUROPEAN CURRENCIES.
Earlier in the year other European capabilities were added to the NETELLER e-wallet. In April the Group added iDEAL for the Netherlands. The iDEAL payment standard is similar to Giropay in Germany or Switch in the UK. Figures confirm that local deposit volumes have doubled since April, and iDEAL now accounts for over 90% of all funds added to consumers' e-wallets in the Netherlands.

Since Danish Krone (DKK) and Norwegian Krone (NOK) were added between 60% and 70% of new consumers in these countries are opening their new NETELLER e-wallet accounts in their local currency rather than in Euros or US Dollars.

During the second quarter of 2008 the Group added significant new European enhancements to its NETBANX international payments gateway, including additional currency support for all European currencies, Dynamic Currency Conversion and all the Carte Bleue, Carta Si, DirectPay24, Ukash and POLi/UK payment methods now accepted by the NETELLER e-wallet.

Also in the last six months the NETELLER Group has expanded its regional sales, distribution and business development functions based in the UK, Sweden and Germany to support its expanding local business. These teams have driven payment, distribution and localisation initiatives across Europe. The Group's NETELLER e-wallet authorisation and regulation is passported across Europe by the UK's Financial Services Authority (FSA).

"I am very pleased with our continued and rapid expansion of services to our customers in line with the Group's strategy," said David Gagie, President of NETELLER's Member Services Division. "With these latest changes we believe we have the best solution for both merchants and consumers across Europe."

[25cent] 23/9/2008 16:16

Its hard to think that the price would hold flat on constant bad news RNS?
This is still being held back by the large stock overhang that has ben strangling it for the last 12 months.

[davidlloyd] 23/9/2008 10:09

Nice RNS

DL

[restassured] 23/9/2008 08:49

More decent buys disguised as sells this am

who do they think they are fooling?

I would imagine its only time before a Paypal snap them up