Paysafe Share Discussion Threads

[lomax99] 29/8/2017 12:20

With so little initial support, I would be very surprised if ii's caved in for the initial offer... Suspect we will get an RNS with an increased offer on/before Friday, so they can issue documents at that revised level.

[f1araway] 29/8/2017 12:05

They'll know whether or not they have a chance of success by now.

[ralphmalph] 29/8/2017 11:37

This friday we should get the scheme document and the date of the vote. Of course we may not if bidco have been told to b off by the ii's.

[malcolmmm] 28/8/2017 20:12

Will see what SCSW says about these in 5 days time, in the meanwhile NMC according to the Financial Times will more than likely enter the FTSE100 on Wednesday , They have risen 17% since I first mentioned them and there will be a share squeeze as 31m shares will have to be bought by trackers with few shares available.

[trentendboy] 26/8/2017 14:00

Good article.Too cheap given the potentialNew bidder should emerge - foolish not to

[wolfhound1] 26/8/2017 12:45

Reading that - it really feels like we are being asked to sell the family silver....shame the focus of ii's is short term

[lomax99] 26/8/2017 08:48

Looking to serve everyone (well, almost..):


From omnichannel. To unichannel.
18.08.2017| Danny Chazonoff, Chief Operating Officer


The word “omnichannel” is losing relevance. It might have sufficed in the e-commerce landscape of five years ago, but today’s scenarios are vastly more complex.

The big problem with omnichannel is that it isn’t nearly omni- enough – a sentiment I hear more often every day, as the realities of building and growing a global 21st-century payments business take hold.

The idea that payments organisations can design their services around specific payments types for specific situations looks increasingly old-fashioned as the geographical and technological barriers between consumers and merchants become ever more blurred. Increasingly, merchants and consumers are asking us to be a single provider of payments services and resources. They want us to provide support for literally every scenario they might encounter, under a single roof. They want end-to-end service, from the time that an order is placed and received to the moment that it’s delivered. In effect, they want a unichannel – not another loosely connected set of tools for a set number of scenarios, but a single, consistent platform that gives them control over every present and future aspect of their commercial payments activity.

Towards unichannel

Delivering this is, of course, non-trivial. Traditional Point-of-Sale (POS) and online card payments are small, but integral, parts of a bigger picture; today, organisations like Paysafe need to think about everything from more powerful and flexible terminal hardware to trends such as in-app payments, click-and-collect, prepaid cards, blockchain and more. We also have to take a huge variety of local preferences and geographic trends into account, from GOLO in North America to layaway plans in the Nordics, multiple alternative payments methods in Europe, cash-on-delivery in Latin America.

And that’s just really the beginning of the story. We need to work with vastly different regulatory regimes across the territories where we operate, alongside dozens of currencies and foreign exchange platforms. We have to integrate and cross-reference all of this with every current and relevant payments mechanism. And crucially, we must think about what’s coming next; all the trends, technologies and companies that will matter whether in six months or six years.

Our acquisition of MCPS

The big question facing the industry is this: how do we replace the fragmented set of tools that make up so-called omnichannel strategies today with a universal digital key that unlocks all the services that modern merchants need to compete and thrive? Paysafe has been focused on this question for two decades, growing organically and by acquisition to the point where we now offer a pretty amazing portfolio of products and services under one umbrella. Today’s acquisition of MCPS is the latest iteration of that strategy – another step towards a universal payments platform that genuinely expands our POS activities across offline, online and mobile platforms and enhances our scalability within the North American payments ecosystem.

Single set of digital keys

We’re well on the way towards becoming a truly universal digital resource, with that single set of digital keys for every client. Already today, Paysafe customers really can focus on their core business without having to worry about the tricky payments stuff around the edges; whatever, however or wherever they want to sell their products and services, we now give them the means to do it.

The omnichannel concept looks increasingly outdated in a world where financial borders and barriers are blurring faster every day. Today’s merchants urgently need a truly universal and integrated approach to payments – a single set of digital keys that unlock a new universe of potential.

[high park] 25/8/2017 22:36

4.5m + 0.5m. Well below 590. Who would sell like that?

[slaccs] 25/8/2017 18:50

4.5m shares sold after the bell?

[wolfhound1] 25/8/2017 13:34

Funds get redemption requests all of the time - anyone invested in OM funds that invested in PAYS would note that OM are supportive of BudCo - therefore they might say at 582 -v- 590 p and potential for 2 months before I see my money out - I will take it now....

They won't necessarily look through to PAYS and have performed the deep analysis many on this board have.

Also worth noting the OM did not pledge its full holding to Budco - therefore I am guessing they knew they had redemptions coming.

[jgoold] 25/8/2017 12:30

Not sure why OM would want to reduce expectations - surely they also want the best possible deal?

[lomax99] 25/8/2017 11:34

Notification that Old Mutual have just offloaded another 1.25m shares, not sure what they are up to - trying to dampen down expectation?

[wolfhound1] 24/8/2017 20:15

Indeed Ralph

In the interim however potential competitor offers will see opportunity to outbid Budco - they will just wait for Budco to make formal offer - more than likely in excess of 590p - hopefully by late next week

[ralphmalph] 24/8/2017 18:51

They can not put debt into PAYS until they own it. We will be passed caring by then.

[wolfhound1] 24/8/2017 18:26

Blackstone funds will have sold property not Blackstone... proceeds will then be returned to investors into those funds who may/may not be investors into the funds in Budco.

Moodys have noted they have put PAYS debt on downgrade watch based off increased levels of debt Budco plan to introduce into PAYS post acqn..... I am guessing they are able to meet with Budco management and get more insight.... so if Budco have to go higher to get 75% they might need to inject debt or go to investors to attract more cash...we will see.

[ralphmalph] 24/8/2017 18:05

My reading of the offer doc said that they had cash or were going to realise some assets to raise the cash. Blackstone sold Spanish property assets the other week for 10bill Euro.

[wolfhound1] 24/8/2017 17:28

.... if budco had the 75% required we would be hearing all about it - in the hope of residual pi's selling up rather than waiting ...their shares being snapped up by the 75%.........

..... but as we have radio silence then clearly budco are failing to win over the necessary 75% at 590p

..from what I have read it looks like debt is going to be heavily downgraded if budco are succeasful as they are using debt to finance acqn and that amount is likely to increase as they will need to up the offer.... that tells competitors they can take out budco by outbidding...I auspect Sept will be our month of action !!! GlA

[mip55] 24/8/2017 15:50

Actually revisiting Slaughter & Mays guide to takeovers Appendix 6 the scheme of arrangement timetable is somewhat different to the straight takeover one I posted earlier, so my apologies for that. For sake of clarification this is what they say...(b) Scheme of Arrangement Day -28 to 0 Offeror and target announce offer Rule 2.2 Between announcement and Day 0 Court hearing seeking directions for convening of shareholder meetings Section 896 of the Companies Act 2006 Day 0 Target sends Scheme circular including expected timetable to shareholders and persons with information rights Rule 30.1 Offeror sends prospectus (where applicable) to shareholders and persons with information rights Day 7 (assuming shareholder meetings will be held on Day 21) Latest date for revision to the terms of the Scheme (i.e. the offer) Appendix 7, paragraph 7 (NB: Where a Scheme is used, there is no end date for target to publish material new information?– compare the Day 39 requirement for takeover offers)No earlier than Day 21 Shareholder meetings (Court meeting and general meeting of target shareholders) held to approve the Scheme and related resolutions Appendix 7, paragraph 3 As early as 2 business days after shareholder meetings provided hearing date booked on time (and subject to satisfaction/waiver of conditions) (the "Sanction Date") Court hearing to grant order sanctioning the Scheme Section 899 of the Companies Act 2006 Usually within 2 days following the Sanction Date* (the "Effective Date") Court order delivered to the Registrar of Companies. The Scheme becomes effective Section 899 of the Companies Act 2006 Offeror acquires 100% control of the target End of offer period under the City Code

[ralphmalph] 24/8/2017 15:42

The 75% of votes is in the offer doc that was issued 4 Aug.

[mip55] 24/8/2017 15:31

Ralph...not quite the way I understood the voting under a scheme of arrangement, but happy to be corrected:The fact that a Scheme is binding on all the relevant shareholders provides certainty and can offer particular attractions when an offeror is confident of gaining the support of target company shareholders holding 75 per cent. of the shares, but believes that the 90 per cent. level needed for the compulsory acquisition procedures to apply may be difficult to attain

[ralphmalph] 24/8/2017 14:36

Old Mutual offloaded 1.3 million shares. Do not know what this tells us. If the 75% was tight then they might hold onto them.
Also I checked the other day and the vote is 75% of votes cast not 75% of total number of shares issued. So that begs the question of what %tage of PI's vote in takeover battles?

[stuart37] 24/8/2017 13:35

and before anyone mentions it - you can use "spelled" or "spelt" as the past tense of "to spell"! Lesson over!

[slaccs] 24/8/2017 13:08

bolstaf - sorry but dose is actually spelled does. This is for a new board, called -

'Board Stiff' (misspell intended) for comments whilst we wait for the outcome of the PAYS bid

[lomax99] 24/8/2017 10:14

2nd that!!

[mip55] 24/8/2017 10:01

Please could we stop ramping other shares on this board?