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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Payzone | PAYZ | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.40 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.40 | 0.40 |
| Top Posts |
|---|
Posted at 28/5/2009 07:40 by danny678 By Joe BrennanThursday May 28 2009 Embattled e-payments group Payzone's attempt to refinance its 276m debt pile will not to be completed by the time it reports interim figures next month. A deal with its lenders, led by Royal Bank of Scotland, is understood to be premised upon the sale of its German subsidiary, which has been dragging on for about six months. However, informed sources have dismissed industry speculation that a sale of the German business, which has a mooted price tag of 50m, has fallen through. They said Payzone remains in talks with a number of different parties. German wholesale giant Lekkerland has been linked to Payzone's attempt to sell its German unit, alongside e-payments firms Euronet and Easycash. Payzone was formed in late 2007 by the merger of Irish-based Alphyra and London-listed cash machines operator Cardpoint. The tie-up has proven disastrous for investors, who have seen their shares plunge 98pc since they started trading on London's Alternative Investment Market in December that year. The group issued a profit-warning and deeply discounted rights issue last year as a result of the underperformance of the Cardpoint part of the group and the impact of high-profile boardroom infighting. The group's top executives John Nagle and John Williamson, formerly the heads of Alphyra, were ousted early last year. Stake Payzone has been led since then by Mike Moloney, a brother of Barry Moloney, who is a partner in the company's 54pc-owner, private equity firm Balderton Capital. Talks with Payzone's seven banks have largely centred around the possibility of the lenders swapping a chunk of its debt for a large equity stake in the business. The company declined to comment. Rival e-payments group Paypoint is also believed to have run the rule over Payzone and made a tentative approach in recent months to the Irish-based company's bankers. It is not currently known whether it remains interested in doing a deal. |
Posted at 03/4/2009 11:41 by fatcol Cazzad - agree with you 100%!I to am a private investor with a shed load of shares, bought whilst Mark Mills was at the helm at Cardpoint. As a shareholder, I like others on this thread, quite rightly feel somewhat disgruntled when the incoming team wipes out 99% of my investment in this particular stock. TheReaperU - I would forget your notion that this thread is full ex-employees with an axe to grind - it's full of very unhappy shareholders, whos investments have been destroyed through a catalogue of mis-management, bad decisions, very public spats and a COMPLETE lack of communication from the Board to its shareholders and the market. How you can even contemplate defending them is beyond me, but, if you are on the inside, perhaps you could suggesst to them that they keep us shareholders in the loop, rather than in the dark. |
Posted at 07/7/2008 12:16 by lbo Its being nominated for a T1PS AWARDS: What will be voted the worst merger or acquisition of the year!Cardpoint/alphyra There were high hopes among investors and management alike when cash machine business Cardpoint and Irish electronic payments company alphyra merged at the end of 2007. However, the new company, Payzone, soon ran into trouble when it materialised that the Cardpoint business had been trading below expectations before the merger was complete. As a result a court battle ensued to try remove the former Cardpoint directors from the new management team and the shares were subsequently suspended for 4 months. Shares in Payzone were trading at almost 80p just after the merger was completed. They now trade at 13.75p. To vote for pitiable Payzone click |
Posted at 22/4/2008 00:57 by danny678 Oh brother, where art thou?Payzone, the electronic payments group formed by the merger of Irish firm Alphyra and cash machine operator Cardpoint, had its shares suspended in January while the company awaits the outcome of legal proceedings. They relate to the departures of chief exec John Nagle and chief financial officer John Williamson - but while investors hang on for movement there, they at least had some positive news last week with the appointment of a new boss, Mike Maloney. He was previously chief operating officer at British Telecom Ireland, and I'd wager he knows his new company well. Maloney's brother Barry Maloney just happens to be a partner at Payzone's largest investor, Balderton Capital. Still, despite the lengthy press release announcing the appointment, there was no room to mention this small coincidence. Did Payzone not think (other) investors might be interested? "We didn't think it was relevant," smooths a spokesman. "Mike got the job despite being Barry's brother, not because of it." From The Telegraph today. It just gets batter. |
Posted at 22/3/2008 09:39 by fatcol badlad21 - Loomis has also come up in my conversations. Big concern here is, if they claim against Loomis, this will probably end the contract. Where do they then go for the CIT service?From what I understand, CIT companies aren't exactly falling over themselves trying to secure this business. Whilst a few million in the short term may help to bolster the figures, it could end up bringing with it a higher on cost for the continued provision of CIT services from another supplier. Someone mentioned to a colleague the other day, that several of the key ATM contracts are getting 'twitchy' and could be about to jump ship - not good! Let's hope Captain Bob sees fit to issue an update and actually tell investors what the hell is going on! It needs to be bloody good news, otherwise Irish Pete will be on the Board of 2 companies that are worthless. IMHO & DYOR |
Posted at 19/3/2008 17:13 by fatcol TheHiddenAgenda - as they say 'no news is good news' and the good news is, whilst the shares are suspended, they're worth much more than they will be once the suspension is lifted.As well as demonstrating an unrivalled incompetence at running a business, they have also displayed an astounding inability to deal with private investors. Perhaps they don't view PI's as important, given that Balderton appear to be right behind Captain Bob & First Mate Saxton. No doubt, when information is released, it will be full of excuses as to why this happened and that happened, rather than being full of what's needed - FACTS! |
Posted at 25/2/2008 19:50 by potter0505 mmills - a good informative post - what these forums were meant for - I suppose you can see both sides of the story on this one - 135p in retrospect a good deal (given recent share price history) but as the shares were at 135-140 (possibly higher if memory serves - you can confirm i'm sure) at a point then 150p would have been realistic. Always a difficult one without the benefit of hindsight which of course we now have! Not sure that the old team having pops on forums is helping current investors recover on investments though which was my original point. |
Posted at 28/1/2008 17:47 by littlereec hello everyone - see what you think of this - it seems that the Irish connection will now sue the English connection for reputational damage Bound to be from Investors funds wouldnt you think? |
Posted at 26/1/2008 12:59 by danny678 Thian charging £ 5k per day for his time. Others in at £ 2k. Costing us investors £ 11k a day for a public spat. Great !!!! |
Posted at 25/1/2008 08:37 by fatcol Lots of rumours and speculation flying about regarding Payzone. The staff moral is apparently rock bottom (not surprising), there are problems with the Cash In Transit company that fill the ATMs, clients are getting edgy as to the future and all that the morons in charge can do, is fight in public, go legal and waste investors money. We really would be better with a single cell organism for CEO. Or maybe we've got one - John Amoeba Nagle... |
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