Paysafe Share Discussion Threads

[lomax99] 17/9/2017 16:22

Still a remote hope for PA re US OLG:



Any approval could kick-off the next wave, which would turbo charge JL/CVC Budco's ill gotten gains over the next 3 - 5 years if they can successfully ditch long-standing shareholders at £5.90 a share.....

[ralphmalph] 15/9/2017 16:24

@john - 40% of the shares are in the hands of pi's

[ralphmalph] 15/9/2017 16:23

I would not surprise me if they are trying to work out how many pi's have voted or are not voting. If 80% of pi's do not vote it means the ii's have more influence.

[johnhelme2704] 15/9/2017 15:50

what concerns me is how close they must be to getting 75% if they think it worthwhile ringing us PIs who, with the greatest respect, have piddlingly small amount of shares compare to IIs...I voted no with my 50,000. I am with Hargreaves Lansdowne who were great, and Alliance Trust who were not (but managed to muddle thru in the end)

[seans66] 15/9/2017 12:54

Just voted no for both Sipp & isa accounts. Have also sold 30% before this.

[ledurts] 15/9/2017 12:27

I hold PAYS across five different accounts - SIPP, ISAs and Dealing - with four different brokers. AJ Bell win the "how easy to vote" competition hands down with a proactive invitation to an electronic vote for EGM and separately the Court action. The rest - iii, SVS and X-O - are, in my opinion, range from poor to appalling - typically no communication that there has even been a bid - with the lowest end of the scale wanting £20 plus VAT for each holding before they vote "No" on my behalf. And getting that info out of them took three emails!

I believe the bid undervalues the company, so much so I topped up at 576p after the approach hit the news and the price dipped. I am heartened that, if true, they are phoning PIs to try and get to 75%. Sitting tight and awaiting a more realistic price that is not so opportunistic after manipulative shorting shenanigans through much of 2017.

End of rant.

[corrientes] 15/9/2017 09:21

Voted against all resolutions

[johnv] 15/9/2017 08:44

Have used HL and Barclays for years and have never received a phone call from a third party.

[slogsweep] 15/9/2017 08:38

Section 793 is not Takeover Code but Companies Act and is designed to
enable a company, PAYS in this case, to determine who is acquiring an interest in the company to make a raid on the company.

It seems perverse that laws designed to protect companies from predatory take over
are being used by the company to assist a predatory acquirer namely Bidco acting agaist the shareholders interest.

[oohrogerpalmer] 15/9/2017 08:34

Thanks Wolf ,

Slogs ,
If Bidco are targeting PIs then i can only assume they think the vote must be very close !!!!
Barclays is now the only one i have not been able to vote with.

[slogsweep] 15/9/2017 08:21

Got an answer from AJ Bell regarding Bidco phone call

Apparently they admit to giving Bidco my address under section 793 (of the TO code I suppose)which they claim they are obliged to do, but not my phone no. (which they
can get from BT as I am not xD)

Apparently Bidco is entitled to my address as they may be interested in buying my shares

I suppose this request from Bidco is unrelated to my voting they seem to be targeting all PI's with a lobbing campaign

[kramch] 14/9/2017 09:59

Called Barclays 8am and got straight through, bit of ferreting around as they found the action details, then recorded my No vote. 5 mins max.
K.

[jgoold] 14/9/2017 07:37

I sold half my holding at just under 600 but I'm considering buying more today. No situation is risk free as anything can happen but this is as close as it gets. I don't mind tying up a little capital for the chance of a higher bid but with 590 reasonably certain.

[slaccs] 13/9/2017 19:30

26.09.17. is less than 2 weeks away so sit tight, we are in a win win situation.

[oohrogerpalmer] 13/9/2017 17:25

Thought they had until April on this even if offer is rejected !!
That being the case they could sit and do nothing for 6 months whilst the share price stays where it is.
If i have read notices right , perhaps someone can confirm that.

[johnv] 13/9/2017 15:58

If the offer is rejected , I thought there was a time limit of say 6 months where they could not do another offer. If not then they would constantly be pestering with higher and higher offers.

[oohrogerpalmer] 13/9/2017 15:56

Exactly , it could be that 590p is the final offer.
That's why the Bod's and OM have accepted and why they are chasing pi's.

Time will tell.

[wolfhound1] 13/9/2017 15:53

@rogerp - not at 590p its not - and here is why :

1. ii's are still increasing their long position at 580's - they wouldn't be buying only to sell at 590p - that just tie up capital for weeks for little or no return. They will be looking for 15-25+% return

2. If budco had more ii's on board they would say so - it might influence pi's ( who hold the balance of power to get over 75% ) not to bother getting involved

3. why are pi's being called ( allegedly - but I have no reason to doubt posters) by budco reps asking what way they will vote - if it was in the bag you wouldn't be doing that ?

4. Another bidder - might yet appear - as suggested they would probably leave it til right before the Court meeting.

IMHO budco are negotiating behind the scenes with ii's and are being told they need to offer a higher price. Budco might be prepared for several rounds of this

Just like they did with the BOD - several low ball bids then come back with higher one. No reason to believe they will change their strategy now they are going to investors.... if fact we should add a 20% premium each time they try it !!!

As PAYS own research shows in next 2-3 yrs our market is growing exponentially so we would be far better off without Budco !!

[largeronald] 13/9/2017 15:49

If Bidco are going to the trouble of trying to find out how private investors are going to vote, it implies to me it's not all done and dusted i.e. they haven't got 75% of ii owned shares in favour.

[oohrogerpalmer] 13/9/2017 15:39

I just get the the feeling its done & dusted.
Surely they would have some idea now whether the larger holders will accept or not.
If its not done & dusted then something is not right somewhere!!!!!
Can't understand the way this deal is being done.

[ralphmalph] 13/9/2017 14:43

@polythene with the benefit of a higher share price than now, one bright spot.

[polythene] 13/9/2017 14:07

I am assuming they cannot increase their offer between now and EGM. Do we have to go through the whole rigmarole again if there is an increased offer?