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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Praesepe | PRA | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 5.625 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 5.625 | 5.625 |
| Top Posts |
|---|
Posted at 19/5/2011 13:28 by sscrabble Not sure whether this is good, bad or indifferent !Marwyn Management Partners PLC 19 May 2011 Marwyn Management Partners plc ("MMP") 19 May 2011 Interim management statement for the period from 15 October 2010 to 19 May 2011 and update on possible offers for Praesepe plc and Marwyn Value Investors Limited. Introduction This interim management statement covers the period from incorporation on 15 October 2010 to 31 March 2011 together with relevant information up to the date of publication. Overview MMP was incorporated in late 2010 and raised gross proceeds of GBP6 million through a placing in January 2011 of Ordinary Shares and Warrants. The Group is now organised into three divisions - Consumer, Support Services and Industrials - with subsidiaries and management teams established in Consumer and Industrial. It has seven employees and five consultants in addition to having the benefit of the services of the Operator. MMP seeks to identify experienced management teams with proven sector expertise and, where they are at an early stage in the implementation of a strategy, support them, where necessary, to cover preliminary operational, advisory and due diligence expenses typically incurred prior to completing a management buy-in of a suitable target business. To date, the group has established, developed and funded two operating subsidiaries (Silvercloud Management Holdings Plc and Marwyn European Transport Plc) to more closely focus on and develop the opportunities identified by the MMP group, with the help of the Operator. The group's loss from incorporation to 31 March 2011 is GBP1.4m and the group retained GBP5.2m in cash at that date from the original GBP6m proceeds. Possible offers for Praesepe plc and Marwyn Value Investors Limited On 8 April 2011, it was announced that we were in discussions with the independent directors of Praesepe plc ("Praesepe") in connection with a possible all share offer for the entire issued share capital of Praesepe, of one new MMP ordinary share for every 13.3 Praesepe ordinary shares. Discussions in relation to the possible offer for Praesepe are ongoing although there can be no certainty that an offer for Praesepe will be forthcoming. Further announcements will be made when appropriate. On the same date, it was also announced that we were in discussions with the board of Marwyn Value Investors Limited ("MVI") in connection with a possible offer being made by MMP for the entire issued ordinary share capital of MVI (although not the MVI B shares or exchange shares), where the possible offer consideration for MVI would be new MMP shares and might include partial cash and loan note alternatives. In connection with the cash element of the MVI offer and for other general corporate purposes, MMP also announced we would intend to conduct an equity placing. Discussions with the board of MVI in relation to the possible offer for MVI have now ceased. Divisions Consumer Silvercloud Management Holdings Plc, is the first subsidiary established in the Consumer division, and intends to target acquisition opportunities within the worldwide luxury goods sector. We believe that there are significant investment opportunities to create shareholder value through a well executed, acquisition led growth strategy in this sector. Such opportunities include the acquisition of established brands that are underperforming as well as younger brands that have struggled to achieve meaningful scale. Industrial Marwyn European Transport Plc is the first subsidiary established in the Industrials division. It has an industry leading senior management team and has been established to pursue acquisition opportunities within the European transport sector. The management team includes David Leeder, a former main board member and Development director at First Group plc (as CEO) and Iain Lanaghan, a former Finance Director of First Group and founder and Finance Director of Abellio GmbH, the German bus and rail group (as non-executive Chairman). Together they have more than 30 years combined experience of building businesses in the bus and rail sector. We believe there are some exceptional opportunities for consolidation in the sector that offer attractive revenue streams, strong underlying cash generation and low volatility across the economic cycle. A copy of the interim management statement and further information about the Company can be found on the Company's website (www.marwynmp.com). Enquiries to: Marwyn Management Partners Plc 11 Buckingham Street London WC2N 6DF |
Posted at 08/4/2011 12:59 by topinfo 7.5p takeover!DJ Marwyn Management Partners PLC MMP in possible offer for Praesepe plc and MVI Ltd TIDMMMP TIDMPRA TIDMMVI RNS Number : 5968E Marwyn Management Partners PLC 08 April 2011 Not for release, publication or distribution, in whole or in part, in or into or from any jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. This is an announcement falling under Rule 2.4 of the City Code on Takeovers and Mergers (the "Takeover Code") and does not constitute an announcement of a firm intention to make an offer or to pursue any other transaction under Rule 2.5 of the Takeover Code. 8 April 2011 For Immediate Release Marwyn Management Partners plc ("MMP") The board of MMP confirms that it is in discussions with the independent directors of Praesepe plc ("Praesepe") in connection with a possible all share offer for the entire issued share capital of Praesepe of one new MMP ordinary share for every 13.3 Praesepe ordinary shares. Based on a price of 100 pence per MMP ordinary share ( being the price at which the MMP ordinary shares were issued pursuant to a placing in January 2011) the possible offer values each Praesepe ordinary share at approximately 7.519 pence. The board of MMP also confirms that it is in discussions with the board of Marwyn Value Investors Limited ("MVI") in connection with a possible offer being made by MMP for the entire issued ordinary share capital of MVI (although not the MVI B shares or exchange shares). The possible offer consideration for MVI would be new MMP shares which would value the MVI ordinary shares at their net asset value at the date of announcement of the offer ( based on a price of 100 pence for a MMP ordinary share) and might include partial cash and loan note alternatives which would value the MVI ordinary shares at a discount to such net asset value. In connection with the cash element of the MVI offer and for other general corporate purposes, MMP would intend to conduct an equity placing. The offer for Praesepe, if made, will not be conditional upon the MVI offer becoming or being declared unconditional. This announcement does not constitute an announcement of a firm intention to make an offer for either Praesepe or MVI. There can be no certainty that offers for Praesepe or MVI will be forthcoming. A further announcement will be made in due course when appropriate. Enquiries + 44 (0) 207 004 MMP 2700 Simon Pincombe Credit Suisse Securities (Europe) Limited (financial adviser to MMP) +44 (0)20 7888 1000 Angus Kerr Robert Mayhew Faisal Tabbah In accordance with Rule 19.11 of the Takeover Code, a copy of this announcement will be available on MMP's website at www.marwynmp.com Neither the content of MMP's website nor the content of any website accessible from hyperlinks on the company's website (or any other website) is incorporated into, or forms part of, this announcement. Credit Suisse Securities (Europe) Limited, which is authorised and regulated in the United Kingdom by the Financial Services Authority, is acting solely for MMP and no one else in connection with the matters referred to in this announcement and will not be responsible to anyone (whether or not a recipient of this announcement) other than MMP for providing the protections afforded to its clients or for providing advice to anyone other than MMP in connection with any matter referred to herein. Neither Credit Suisse Securities (Europe) Limited nor any of its subsidiaries, branches or affiliates owes or accepts any duty, liability or responsibility whatsoever (whether direct or indirect, whether in contract, in tort, under statute or otherwise) to any person who is not a client of Credit Suisse Securities (Europe) Limited in connection with this announcement, any statement contained herein or otherwise. Shareholders of MVI are reminded that the management and control of MVI is situated outside the United Kingdom. For this reason the Takeover Code would not apply to any offer for MVI. It is emphasised that, although the depositary interests representing ordinary shares in MVI are traded on the Specialist Funds Market of the London Stock Exchange, MVI is not subject to takeover regulation in the United Kingdom. As such, any proposal in relation to MVI will not be governed by the Takeover Code. This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities, or the solicitation of any vote or approval in any jurisdiction, pursuant to this announcement or otherwise. Any offer will be made solely by certain offer documentation which will contain the full terms and conditions of any offer, including details of how it may be accepted. This announcement has been prepared in accordance with English law and the Takeover Code and information disclosed may not be the same as that which would have been prepared in accordance with the laws of jurisdictions outside England. The distribution of this announcement in jurisdictions other than the United Kingdom and the availability of any offer to shareholders of Praesepe or MVI who are not resident in the United Kingdom may be affected by the laws of relevant jurisdictions. Therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom or shareholders of Praesepe or MVI who are not resident in the United Kingdom will need to inform themselves about, and observe, any applicable requirements. Rule 2.10 disclosure In accordance with Rule 2.10 of the Takeover Code, MMP confirms that as at 7 April 2011 it had 6,050,000 ordinary shares of 1 penny each in issue and admitted to trading on the London Stock Exchange under the UK ISIN code GB00B4NF3F57. Dealing disclosure requirements |
Posted at 08/1/2011 09:31 by jpjp100 Micro Bingo and Wide Area connected bingo machines (VBTs) are an important element of PRA's plans for the future, you only need to read the interims etc. to know that. On a recent visit to The Crystal Rooms, I noticed that the number and prominence of VBTs has increased considerably. A few things about Bingo are exciting from an investor perspective. 1) Bingo is VAT free so a £1 in a VBT is worth more to the operator than a £1 in a B3 for now. 2) Bingo can offer much bigger prizes - jackpots of £4k and even £5k are promoted on the crystal rooms website for instance. Not even casino machines can offer over £4k jackpots, so,VBT's are the biggest jackpot machines in the country and that has to be more attractive to (more) punters 3) Connecting more machines (across the whole estate potentially) means that the progressive jackpots available grow more quickly. Even machines that aren't being played don't go 'stale' - the pots available keep on ticking up as other machines in the network are being played. The closer to being 'full' those pots are, then it becomes more attractive for players to have a go on the machine. Converting an AGC to a Bingo Hall enables micro bingo to be played and, with the pari mutuel concept, jackpots could be a few grand quite easily. Games could be played pretty much all day pretty frequently and should be a good way of bringing in punters too. Add to that a few VBTs on the network showing £4k+ jackpots and the 8 B3s that a bingo hall can already have on site and you can see why PRA has been keen to convert sites to this format. I am looking forward to the roll out starting and I hope it is soon! |
Posted at 01/1/2011 18:44 by freddie01 Bingo operator considers 2011 sale following strategic reviewOne of the largest bingo operators in the north has announced that it is considering breaking the business up in 2011. Buckingham Bingo, based in Manchester, operates 10 bingo halls across the north of the country. The leisure specialists called in KPMG's corporate finance specialists earlier this year to offer advice on options for the new year, including possibly putting the firm onto the market. Some of the bingo halls look likely to be sold off independently, although a sale of the entire business has not been ruled out. Buckingham Bingo is said to have already received notes of interest from several large investors, including leisure group Praesepe, who has expressed an intent to grow through a series of acquisitions next year. Following on from KPMG's appointment to carry out a strategic review, sources close to Buckingham Bingo report that there has been 'considerable interest' in the firm since September, when the business first indicated a potential sale. One source said, "There has been a variety of bidders and January could see one or more deals concluded." Venture capital firm Alchemy Partners purchased Buckingham Bingo for £90 million in 2005, but lost control of the company three years later when it wrote off its £76.7 million stake in the firm to bankers Barclays as repayment for a debt waiver. |
Posted at 07/10/2010 14:03 by jpjp100 it would be nice to think the results were going to be magnificent - but who knows, we could be tragically disappointed. It would be also nice to see a rerating but I think that even if that happens, its not game set and match to existing holders just yet. The group needs to get a lot bigger - say £50m market cap - to get on the radar of some of bigger funds / institutions.Then, with a prod from several sharp sticks, the broker might put out some decent material to generate more interest. Like you mr empirestate, I am optimisitc. But let us not forget about the amount of debt now being carried and how that can negatively influence investor sentiment. Until 0700 tomorrow... |
Posted at 20/8/2010 07:48 by brownie69 jpjp100 How did you get the Nick Harding bulletin box comment? Is this something i can sign up for?I too think the directors should update the market in view of the share price movement. Finally does anyone else think its a biut strange that the commercial director is deal with investor queries? Surely it should be the CEO or CFO?? (even if the mail was addressed to Bryan Evans) |
Posted at 06/8/2010 08:26 by ukinvestor220 ____________________Sent: 06 August 2010 09:25 To: 'byronevans@praesepe Subject: Query from Shareholder Dear Byron As a shareholder and creator of the Praesepe discussion forum on the private investor website ADVFN, I would like to represent the concerns of investors in the company about the falling share price and lack of any response to it from the Directors, be it bad or good. Please can you request some sort of update to reassure or confirm that the business is not suffering from serious income reduction or excessive costs, and that your operations are continuing to perform according to your plans as set out in April. Many thanks |
Posted at 30/7/2010 08:38 by ukinvestor220 im not sure thats true - it often reaches a point where investors have been waiting on the sidelines for a buying opportunity, and wont buy until they see an end to the decline or news appears. Then you get a spike and a resurgence in interest.Although I admit it is very disconcerting, but you have to look at your reasons for investing in the company in the first place. If you are looking for high risk fast gains over short periods checkout the oil and gas sector - many a fortune has been lost there !! |
Posted at 31/3/2010 13:29 by sscrabble Looks like a large investor getting rid of their holding - thats why I got them at 8.4p |
Posted at 12/2/2010 11:52 by plunge Does anyone know whether private investors are going to be allowed to participate in this placing?TIA |
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