Paysafe Share Discussion Threads

[wolfhound1] 11/8/2017 14:54

As time goes on it has all the hallmarks of a "take-private" MBO + PE partnership, and I wonder if the silence from ii's is because they have already tweaked that ?

Has the "Equity sweetner" details been shared in the documentation ?

[johnv] 11/8/2017 14:40

Perhaps we should reply to his tweet as to why he is selling us out short.

[eh9] 11/8/2017 13:02

This CEO was tweeting for his own benefit the day the deal was first announced. What kind of a CEO is that? Look up his twitter feed for yourself

[wolfhound1] 11/8/2017 12:47

Spot on mmc71 !

A BOD that looses respect for my capital quickly finds I lose respect for them !!

With consolidation in the Industry a new BOD will not be difficult to find.

[wolfhound1] 11/8/2017 11:41

@phoenix _ words of caution are ok, and the only thing that goes straight up for ever is yet to be invented.

all that said though - the Board are throwing their lot in with Bidco on "equity sweetners" - so their approval is conflicted - now you having been a director on a FTSE250 will know why you are therefore obliged to disclose - so folks will know you have a conflict.

And BOD have the inside track as to what is happening in the business and the industry - they clearly do not share your concerns - because they are reinvesting their shareholding by and large and probably on significantly better terms ( so they can take a chunk of liquidity now and still be materially better off)

And it is not just BB posters on here that are saying the BidCo are taking the pee - so are the professionals - small little outfit called Barclays - stated "PE firm are looking to take all of the upside" as well as a number of others pointing it out.

Those that feel 590p is fair value are perfectly entitled to take their money and go - those of us still here though - like you - are hoping for a better offer to more fairly reflect true value - and if no bid materialises then so be it - I am more than happy to hold and wait until such time as a bid materialises that is fair - and from silence of ii's so are they by the looks of it- PAYS will move on, it is growing at a nice clip, can clearly see off Asian Gateway and get re-rated closer to peers

Like me though - most people can see if the PE firm sees potential to exit for 2.5 times in under 3 yrs - then why can't the Board pony up and execute for the long term shareholders that backed them - they are not now repaying the loyalty and in that case they should go if PAYS stays independent - we made them wealthy enough so they have been well paid for their work to date - but perhaps time for fresh legs in the final qtr !

Figures are not everything but in an acquisition they are the only thing that count !!

[phoenixchi] 11/8/2017 11:20

But your house is built on the only area of marshland in the area and no loans on it would be possible. Or, you are 86 years old and have no chance of obtaining a loan.

Yes, on everything we know this looks too small an offer and it is annoying to see the BOD seemingly rollover like this.

BUT, until someone (or IF) someone comes along and offers more per share, PAYSAFE is only worth what the market will pay for it.

As for the BOD having to go and PAYS moving on from there if an offer doesn't go through. Well. what nonsense and I wish people would think before playing follow the leader over posting.

The current BOD get us here and we were all full of praise for them for a long while. Who is to say that with a new board the rapid progress of PAYS would continue? I've been a company director on a big FTSE250 outfit and know that the contacts and experience of a board are critical.

Hence, lets ditch this board in the belief that the current PAYS products and customers will continue completely untroubled. That, I'm afraid, is a risky proposition so calls for the BOD to resign etc etc are stupid.

Yes, the 590p looks cheap but if nobody else bids that should tell us something. Stock market investing isn't quite as straightforward as so many here imagine it to be.

Fingers crossed, though, my argument become irrelevant through a higher offer coming in.

Unfortunately, I have some serous doubts it will because I also have the feeling the industry PAYS operates in is a little more wobbly than many on here imagine it to be.

In the end, figures are NOT everything.

[bolstaf] 11/8/2017 09:37

I'm hoping now that they will be putting in a bit of overtime this weekend and that we might get some news early next week . Or at least a date for the vote .

[rostam60] 11/8/2017 09:25

Simple! Denis recommends the cash offer to the others in the household! After all, he is going through a divorce process.

[bolstaf] 11/8/2017 09:24

Yes lomax that line grated on me too.we can get our cash and Dennis can go on to crystalise a big fat juicy profit .

[wolfhound1] 11/8/2017 09:02

Picture yourself sitting in your home one evening, there is a knock on the door, standing there in a sober suit is a man with a briefcase he says he likes your house, he has great plans for it and there and then he offers to buy your house for cash - no estate agent fees - and he offers you $250K or $1000 a square foot

But here is the kicker - your neighbours house next door had a bit of a makeover and put on an extension a few yrs back, so they have 2 extra bedrooms with en-suite and a conservatory. Theirs is also being bought and they just accepted an offer for $750K or $2000 a sq ft.

Q......
a) Do you accept the offer for your house
b) Tell them to make an offer somewhere closer to $2000 a sq ft so there is a win for them and you when they remodel
c) say thanks but no thanks, call your bank manager arrange a loan for say $75 K and build on the 2 extra rooms and ensuite and get a make over - sell on the market for $750K , repay the loan and be $425K better off

..answers on a postcard to Dennis Jones

[lomax99] 11/8/2017 08:47

And what are we offered?

Dennis Jones: 'The offer from the Consortium represents an opportunity for shareholders to crystallise a certain cash value from their investment in Paysafe' at £5.90.

Gee, thanks Dennis, you played an absolute blinder there on behalf of long standing shareholders.........

[filmster] 11/8/2017 08:45

I feel share price is dropping now as people believe the bid will get rejected. Im hoping we will get a new bid before we find the outcome of the future vote.

[bolstaf] 11/8/2017 08:44

This is mad! What am I missing here ?? I've just added a few more @581.2 how is this possible if we are all rite about pays future potential ???please please please let this bid fail I would hold these even if the current BOD managed to keep their jobs .not buying or selling more now unless it fails and we get a rerate down as I'm am now severely over exposed here .

[wolfhound1] 11/8/2017 08:31

Absolutely - plus the discount to peers would disappear completely and in fact we would probably then sit on a premium due to dominant position in a niche market expanding rapidly - add that on top of the other items and 2000p might not be far off

[lomax99] 11/8/2017 08:22

OLG in the US will at some point become a real kicker, I remember seeing a video of JL where he indicated that pre-wire act daily volumes were 6+ times higher. None of this is in the rating.

I also suspect that the guided c. $7M synergies for MPCS are somewhat understated.

[wolfhound1] 11/8/2017 08:17

Lomax- exactly , they will easily surpass through bolt on acquisitions financed through Debt - flip it as a 3-4 bagger inside 5 yrs leveraging off all the hard work that is not yet reflected in the share price

[callmebwana] 10/8/2017 23:37

You guys are a gem of informatin, Wolf and Ralph and some others, not forgeting EH2.
I sold half and am still holding to the other half in PAYS. I just derisked a bit.
PAYS was top heavy in my Portfolio.
Thank you for your input over time guys. Wishing you good luck.
Good night.

[ralphmalph] 10/8/2017 20:39

What were the figs for EBITDA and cash pays would get for the Asian gateway.

[ralphmalph] 10/8/2017 20:37

@wolf - that is actually a quite complex calc because the money from the sale would come into PAYS to reduce net debt. Which made me look at the debt figure as of today, which is 259.9. I forgot what Barclays said the gateway was worth.
But thinking about it the lights came on as to another reason the PE boys want it. It will basically be debt free, that means they can do their standard practice of loading PAYS up with debt paying it out as a dividend to themselves and then floating it to a load of mugs on the stock market so they get double bubble.

[aspex] 10/8/2017 20:33

I am no genius but as I see it if you take the Asian Gateway out of the last three years results and use those figures as a launch pad the results forward should be impressive.