Paysafe Share Discussion Threads

[isaready] 08/9/2017 14:25

ooh - HL are much better

[isaready] 08/9/2017 14:24

wolf - fair enough.

My position has nothing to do with the question.

Hopefully they will pay a bit more, but as I said already, fair enough.

[oohrogerpalmer] 08/9/2017 14:17

That phone No for barclays has currently got a 30min delay before answering.
Better than the 1hr 20min wait I had last week to obtain pass code to log in.
I've emailed Barclays to ask them to phone me today or I will transfer my account to another provider.
i will be transferring anyway so would appreciate thoughts on other isa investing platforms that offer best value from those using them.
Cheers.

[ralphmalph] 08/9/2017 13:10

That Kames report is interesting, they have traditionally been one of the companies that have taken sizeable short positions in PAYS.
They are 100% long and have just increased that long.

[deej4y] 08/9/2017 12:47

Anyone who is with Smart Investor (Barclays), you have to call 0800 279 3667 to register your vote.

Barclays do not notify you of voting corporate actions

[wolfhound1] 08/9/2017 12:12

isaready - as I said if you sold and are happy with price - fair enough and well done - onwards to the next multibagger

You posed a question - what was wrong with the price of 590 - to which I replied and outlined what I believed was wrong and why I am voting NO to 590 - if Budco want my shares they will need to up the offer.

"moral tone" - lol - doesn't come into it - just pure economics - to quote Barclays: "PE firm are looking to take all of the upside"


We will know in a few weeks the outcome - I won't sweat it either way - worst case is a 590p takeover, I am running on a free option right now as are all those still long PAYS.

my money is on a higher offer or counter bid - if budco had managed to convince more of the ii's to back the deal then they would be disclosing that as they did with OM and FT and Board - but they haven't - my reading of it that ii's are telling them it is not enough

In a nutshell that is why I have not yet taken my money off the table - equally I am on record as saying good luck to those that have - it is a personal decision.

[isaready] 08/9/2017 11:11

is this a management buyout or a CVC buy?

[isaready] 08/9/2017 11:09

wolf - for the record I no longer hold.

My point was a valid one but maybe I do not have the context.

You raise an interesting point. You're saying why should these guys, CVC etc get it too cheap, so they can sell of some of it and make money on the rest? Is that right.

I also look at it this way..

Like them, we didn't get up everyday to work at PAYS, yet we think because we invest, we have a bigger morale right than CVC to make a profit. We don't. Just like you want to make a profit, to buy lunch, have a holiday, they do too.

I am not disagreeing with your points, but don't bring a morale tone into this. Us making money out of thin air is no more morale than CVC wanting to do it.

Clearly the management will do well and why not.

See what happens, good luck but I think you'll fail in your attempt unless you have a BIG set of shareholders rejecting this already. Do you?

[r1071987] 08/9/2017 10:04

I have 93,000 Paysafe shares and want to vote no. Logged into new SmartInvestor account (Barclays) no corporate action defined. Have tried to contact SmartInvestor directly but no reply as yet. Be good if anyone has successfully understood the process of responding through this new platform to post on this board as its not clear. Thanks

[jubblies] 08/9/2017 09:14

@slaccs - thanks RE Selftrade.

[oohrogerpalmer] 07/9/2017 22:08

Think most people are hoping that a no vote will result in an increased offer from Bidco ,
4 things stick out for me on the negative side.
1/ very little press coverage.
2/ little evidence of a rival bid emerging
3/ the current BODs has given its backing to it.
4/ The share price was motoring, If the BODs were confident it would continue why sell at 590p ??

I'm hoping that a renewed offer will come from Bidco of around 6.25 but won't be the least bit surprised to see 590p succeed.

[phoenixchi] 07/9/2017 21:11

If, of course, the trend had continued!

Yes, no reason to think it would not have done but too many on here seem to think that rising markets last forever. They don't.

While I think £5.90 is too cheap and have voted no, most posters need a reality check.

If the vote is No (and it's a big if because as PI's we do not have the power and access of the II's) and if the there is no bigger bid, and if the BOD resigns, DO NOT assume the share price will just keep on rising once the shakeout has been digested.

A new board will want to impose their ego and ideas on the company and some long-standing customers might not stay. Lots of things could change, so I think a lot of posters need to realise there are no guarantees with shares and that however successful a company has been, and promises to be in the future, customers and the markets are fickle. A board change might just prove that point.

So, be very careful what you wish for if the bid is rejected. Let's hope, though, a bigger bid follows any rejection.

That's my last posting about this now because there are way too many dreamers and not enough realists in the market nowadays who are way too easily led. Many of the recent posts about PAYS illustrate that only too well.

Good luck all.

[ralphmalph] 07/9/2017 19:42

Just to cheer you all up, if you draw a line through the middle of the recent rise in share price it bisects the current price. i.e we would be here now if no Bibco shennaigans.

From now on we are basically getting less for our shares than just letting the trend continue.

[slaccs] 07/9/2017 19:36

Jubblies - I contacted selftrade and this is what you need to supply them with :-

Date and time of court hearing and EGM.
Location address
Stock name and ISIN
Voting choice

I supplied everything required and they have confirmed that my no vote has been given to the correct dept. for actioning.

[jubblies] 07/9/2017 17:44

I received this statement from iDealing...."There will be no corporate action in regards to the takeover. There will be a scheme of arrangement and the stock will be debited from your account and the cash proceeds automatically credited once received."....which of course is wrong as I have already voted No using the Paysafe online voting (capita).Alternatively I could Maybe just get the shares into certificate form from them, ask for the certificate number, and then can use again Paysafe/capita to register my votes! Deadline is 24th September I believe. Possibly an option for anyone else not getting the correct noises from their brokers? Correct me if I'm wrong on this or it'll take too long for certificate to be issued! Or if that ruins my voting!!!No reply yet from SelfTrade.

[s2lowner] 07/9/2017 16:21

I spoke Barclays and said I wanted to register a no vote and they said they would but I have had no confirmation that they have done it in writing so am suspicious given the other things they would have had on

[oohrogerpalmer] 07/9/2017 16:11

Iv'e contacted Barclays but as usual will probably take 2-3 days to reply.

[dontlettheb] 07/9/2017 15:55

Halifax confirmed my No vote with no problem

[seans66] 07/9/2017 15:55

Anyone voted via smart investors i.e. Barclaystockbrokers yet?

[brad44] 07/9/2017 13:33

just mailed brokers for the No vote

[wolfhound1] 07/9/2017 13:02

Can't see why not Nurdin - and it is not like they are getting a great deal for it when you analyse it - it is more about the optics - it has already been fully/overly discounted i.e.

Up front payment $5m
Maximum proceeds $308m - so $303m which is received over 6 years or $50m per annum, currently produces 13% ( I think was the percentage I saw) of EBITDA of $330mn p.a. or $43m - so really its sale is being funded out of its own "cash profits" but it does ring fence it away from the rest of the business.

You could spin it out of the business and we all get shares in it with say an AIM listing - immediately you erode the discount to peers - then we could move from PE of 14 to 30 - double the value of the residual 87% of the business.

Again these were all options JL could have and still could pursue - the degree to which he hasn't done so tells me this budco was less of a surprise than we might think and perhaps more of a structured approach to up bonus pool post resistance from ii's to more free shares being awarded - plus the need for some cash liquidity.

[nurdin] 07/9/2017 12:45

Can PAYS find another buyer for the Asia business were BIDCO to walk away?

[wolfhound1] 07/9/2017 12:09

@isaready - no one is stopping you selling yours if you feel you are getting good price - best of luck to ya.

On the other hand - if they want my shares then they will need to up the offer considerably - 590p just won't do it, a PE of 14 when peers are being bought out at PE of 30+

Not like they are going to do any heavy lifting as we know:

a) Financing 75% of this with debt - $2.9bn
b) selling off Asia for $308m over 6 yrs
c) keeping BOD in place - just upping the ante via nice share earn out for them to get them to back it - conflicted !!

We could do all of that ourselves and walk away with a big profit ourselves in 3-5 yrs time - so CVC/Blackstone are just trying to eat out lunch ( and dinner) and I am not in the mood to share !!

After all that is our right to say No when we are being shafted - is it not ?

[isaready] 07/9/2017 11:45

Guys,

Why be against it. This was £2 a share. Sure they purchased companies ot build it up, but from the days when it was Neteller, crashed, burned and then came back to be worth 3 million, well for that, that's a good result for them TBH.

There is consolidation in this space, its going to happen and that' show it is.

So, what is wrong with the sale price?
They have an exit strategy, they sell.