Plus500 Share Discussion Threads

[dodge meister] 21/9/2015 10:19

All very quiet on here except for the usual troll (filtered of course). The deal still seems to be good, although given the latest PLUS500 results it does seem to under value the company. Seems like a win win at this price if the deal goes through or not.

[macarre] 10/8/2015 20:38

Dead thread. Rest in peace.

[macarre] 24/7/2015 00:48

butters - EZJ, FLYB, VLX, CUP or STR (Stride). Also good potential, but may want to pick a good entry point, as it appears to have hit resistance today: JLP

[elcapital] 21/7/2015 13:37

SOrry to hear of your loss. Ptec looks good for ten percent from here.

Something different, take a look at CKN.

[pbutterworth1] 21/7/2015 13:29

Following the vote I sold out of all six long PLUS acc holdings on Friday, with a manageable loss. I have followed the money and put a small amount into PTEC but have resisted larger holdings as I do not trust the management of PLUS who are transferring. It was fun on the thread and I made a few friends. Any tips for where to put the dough gratefully received.... :-)

[elcapital] 18/7/2015 07:47

Copied this of the PTEC thread. Odey bottled it in the end.....I wonder if they know something the rest do not? I also wonder if the lone protester is idiot bull slipperysidewinder, who has encouraged lots of people to lose money on this one., then runs off and doesnt even apologise.

Odey Drops Opposition to Playtech’s $715 Million Bid for Plus500

Bloomberg
July 17, 2015

Crispin Odey dropped his opposition to the 459.6 million-pound ($715 million) sale of Plus500 Ltd. to Playtech Plc, a deal he said last month “materially undervalues” the Israeli trading platform.

The 400 pence a share offer from the online gambling company won 93.4 percent approval at a meeting of investors in London, Plus500 said in a statement on Thursday. That indicates the company’s largest shareholder, Odey Asset Management, didn’t use its 20 percent stake to oppose the deal. A spokeswoman for Odey declined to comment.

Odey said in June it intended to vote against Playtech’s bid and signaled it would welcome higher offers. The firm increased its stake as Plus500 lost more than two thirds of its value in May after the U.K. Financial Conduct Authority ordered some customer accounts to be frozen in a review into anti-money-laundering controls.

“It’s a fair price given the increased scrutiny,” Plus500 Chief Executive Officer Gal Haber said at the meeting. Other bidders “had time to make an offer, which they didn’t.”

Plus500 unfroze all but five accounts last month and said last week it had “agreed revised procedures” for checking customer details and would be able to accept new U.K. clients from August.

The takeover is dependent on antitrust and regulatory clearance. Playtech plans to hold a meeting to seek approval from investors, it said in a separate statement.

Plus500 won enough support from shareholders to approve the deal before Odey voted, Chairman Alastair Gordon said. James Spalton, an analyst at Odey Asset Management, declined to comment on how his firm voted at the meeting.

‘Shop Window’

Plus500 didn’t get a better offer than Playtech’s after a “six or seven week period in which this company has been in the shop window,” Gordon said.

Even so, some investors at the meeting voiced anger that the company was being sold below the 750 pence at which it closed in London trading on May 15 before it disclosed the FCA probe.

“You’re selling the company for buttons,” Leslie Young, who said he lost a “six-figure sum” investing in Plus500, told the board at the meeting. “The way you’ve treated the shareholders is an absolute disgrace.”

The company “has nothing to apologize for,” Haber said on the sidelines of the meeting. Any criticism is “absolutely not fair” because stock was sold at 115 pence a share at its initial public offering in 2013, he said. “We made shareholders four times their money.”

[macarre] 17/7/2015 12:56

So, does that mean we should be posting in the PTEC thread from now on (or after regulators clear the transaction)?

[elcapital] 17/7/2015 08:23

Indeed, as I posted yesterday. Game over now, no point in waiting for the payout.

[brahmsnliszt] 17/7/2015 08:19

I sold out yesterday for what it's worth.Decent run. Time to go elsewhere.

[mbmiah] 16/7/2015 23:35

I think we can expect less activity on this thread lol

[macarre] 16/7/2015 15:05

Takeover approved then. What can we expect over the next few months?

[libertine] 16/7/2015 11:50

Soon know!!


Merger Proposal

As previously announced, the Information Statement and Notice of Special General Meeting to approve the recommended cash acquisition of Plus500 Ltd by a subsidiary of Playtech plc to be effected by means of a merger under Israeli companies law (the "Merger") was posted to Shareholders on 11 June 2015. The Information Statement and Notice of Special General Meeting to be held in relation to the Merger is also available online on the Company's website, www.plus500.com.

The Special General Meeting is to be held at 11 a.m. on 16 July 2015 at the Regus Offices, Level 9, CityPoint, 1 Ropemaker Street, London EC2Y 9HT.

[elcapital] 16/7/2015 10:59

My view is, there is very little upside but a lot of potential downside if they pull out of the bid. I do not think they will need to increase the offer, but if they did, it wouldnt be by much. I dont think they will drop the offer barring finding something that backs up the strange numbers that come out of the company, and I dont think they will increase the bid, so on that basis I wouldnt hold, and would be more inclined to short as the potential loss is now limited. I am flat.

[brahmsnliszt] 16/7/2015 10:01

I've had plus since 300 a few months back.Not really watching but just thinking I should sell them now. Can't be bothered to wait for the buyout.Any thoughts?

[elcapital] 16/7/2015 08:02

Still short and still pointing the finger

www.cablecarcapital.com/Cable_Car_Q2_2015.pdf

[elcapital] 14/7/2015 09:32

Maybe four quid is too high

[luckymouse] 14/7/2015 09:00

controlled price looks like

[pbutterworth1] 13/7/2015 12:04

Oh dear, diary clash ! Middle daughters graduation ceremony in Cardiff on Thurs so can't attend EGM. Well miffed. This meeting will be soooo entertaining when management stand up and try and justify the 400p deal of the century.

[elcapital] 10/7/2015 15:26

Dont know BWNG, but it looks like it wasnt given the current share price.

I havent looked, but I think a move into ptec would have been better

Tu tambien. Casi la hora para unas cervezas

[macarre] 10/7/2015 15:23

ElCap - in your view was it a clever move to have sold PLUS on June, 18 to buy BWNG?Tenga un buen fin de semana.

[elcapital] 10/7/2015 13:43

Indeed they might :)

[macarre] 10/7/2015 13:37

Writz - I see the 400p as reassurance to investors. It the deal falls through this will get taken away. It is up to investors then to decide whether it is worth to park their money here or sell and move on (in which case share price may suffer for some time). Not a holder at the moment but believe PLUS is worth north of 700p. Others may disagree though.

[elcapital] 10/7/2015 12:21

I think they know they have it, or they would be on the bid in the market place