Praesepe Share Discussion Threads

[jpjp100] 21/7/2011 12:45

"It was also announced on 24 June 2011 that the Board has applied to the London Stock Exchange for the cancellation of trading in the Company's ordinary shares on AIM on 25 July 2011. Consequently, the last day of trading in Praesepe Shares on AIM will be 22 July 2011."

[sscrabble] 20/7/2011 20:30

how come these are still trading when there is a compulsory acquisition ?

[jpjp100] 15/7/2011 09:55

the discussion contines on the MMP thread

[ukinvestor220] 06/7/2011 17:03

6th July 2011
The offer by Marwyn Management Partners Plc (MMP) is offering to acquire all of the outstanding common shares of Praesepe has been declared unconditional in all respects, and will remain open until further notice.
The terms of the offer are:
For every 13.3 Praesepe shares held - 1 new MMP Ordinary share.
Deadline: No deadline due to the offer being open until further notice.

[sscrabble] 28/6/2011 15:07

has anyone had there shares in mmp and been able to trade them yet ?

[jpjp100] 25/6/2011 16:47

mmp price will likely drop when new shares are admitted?

[sscrabble] 24/6/2011 16:56

I do not get this - it appears the offer is unconditional and agreed - so if you buy some more pra shares now at 6p plus, are you not guaranteed one mmp share (presently 105p) for 13.3 pra shares ?? Where is the downside ?

[jpjp100] 24/6/2011 13:27

once you realise just how awry things were at Agora, you begin to appreciate the potential upside available to PRA from running it properly

[ukinvestor220] 23/6/2011 19:00

so david williams has resigned with immediate effect. wtf is going on here !!

oh ok - he's also chairman of Marwyn ...

[jpjp100] 22/6/2011 12:36

sscrabble - part of the MMP takeover process I expect

[jpjp100] 22/6/2011 12:36

from the bulletin box on praesepeplc.com

I am sure that it will come as a great shock not to find me carping on about the government, the regulator and anyone else that I can reasonably blame for the ridiculous delay in B3 deregulation. Finally it looks as if we are nearly there on the B3 deregulation measures. Neither has yet been passed but latest intelligence seems to suggest that (in the absence of any political objections) the deregulation orders will be nodded through on July 12th. These will probably then give us an implementation date sometime in late July. In addition to increasing the maximum stake on B3 machines to £2, the deregulation will allow the numbers of machines in an AGC or Bingo venue to change to 20% of the total number of machines with the current basic entitlement of 4 in AGCs and 8 in Bingo venues to remain in place. The current interpretation of the orders also indicates that in Bingo venues the 20% ratio will apply to handheld terminals that also provide slot style gaming. Great news, which will underpin our performance in 2011/2012 of that I have no doubt! It doesn't level the playing field with Bookmakers, who are still able to operate a B2 product which is really a casino game, but I do feel that our ability to really look after our players, our service and ambient surroundings set us so far apart from Bookmakers in terms of a quality gaming entertainment experience that we will be able to give them a much greater run for their money!

[sscrabble] 22/6/2011 09:31

why have my shares in praesepe disappeared from my selftrade account ? it shows as 'transferred out' on 17th in History

[jpjp100] 17/6/2011 15:51

its not 8p cash though is it, its 8.008p equivalent in MMP shares - who knows what will happen to them once this transaction is through

[divinausa1] 17/6/2011 13:28

dnt understand the price movement here today 6.25p down .5p
yet bid is for 8p!

[jpjp100] 15/6/2011 06:58

Will MMP move quickly post acquisition?

It could, within 30 days of admission, issue 50m shares on the same terms to raise some poke to, say, do the agora deal...

'In connection with the Placing, MMP has agreed that it will not issue or sell further ordinary shares for a period ending 90 days after Admission of the Placing Shares, without the prior consent of Singer, but it has the ability to issue a further 50 million New MMP Shares (with Warrants attached on a one-for-one basis) pursuant to the Prospectus on the same terms as those issued pursuant to the Placing for a period of up to 30 days, unless it notifies the market otherwise that the period has been terminated.'

[jpjp100] 13/6/2011 20:20

there isn't much to say that's new - its a matter of timing now. Jul 19 is mentioned, but so is September / October...

[divinausa1] 13/6/2011 02:41

well the b3 machinese has had a positive outcome last week
not that you would know it as the company has said nowt!!!!!!!!

[jpjp100] 09/6/2011 06:36

So, the increased stakes and increased allowance for B3 machines per site are now before parliament

In 6 weeks, all being well, it goes live.

[divinausa1] 07/6/2011 07:36

We understand that the much lobbied for and awaited increase in stakes for certain gaming Machines (Category B3) is to be placed before parliament tomorrow

[jpjp100] 03/6/2011 15:33

8.008p valuation according to the offer...

[jpjp100] 02/6/2011 20:24

offer tomorrow then?

[sscrabble] 02/6/2011 08:31

Nt sure this sounds good --- and now a big price drop !!


Praesepe PLC

01 June 2011

1 June 2011

Praesepe plc

Extension of waiver to banking facilities

Praesepe plc ("Praesepe" or "the Company" or "the Group", AIM:PRA), the UK based gaming company, today announces that, further to its announcement of 19 April 2011 regarding the entry into a waiver and amendment agreement with, inter alia, The Royal Bank Of Scotland to amend the terms of the Company's senior credit agreement (the "Waiver Agreement"), the date for repayment of the remaining GBP2.35 million of the GBP2.5 million instalment originally due on 31 May 2011 (the "May Instalment") under the senior credit agreement has been extended until 17 June 2011.

The extension of the date for repayment of the May Instalment under the senior credit agreement has been granted on the condition that MMP makes a formal announcement of an offer for the Company by 3 June 2011 and that such offer has become wholly unconditional by 10 June 2011.

Praesepe has been in an offer period under the City Code on Takeover and Mergers (the "City Code") since 8 April 2011. The Company remains in an offer period and, accordingly, the Board confirms that the entry into the extension to the Waiver Agreement is being undertaken in accordance with note 1 to Rule 21.1 of the City Code.

[jpjp100] 24/5/2011 07:42

So, the Agora purchase is a when, not an if... that's nice

[sscrabble] 23/5/2011 23:21

Bulletin Box - Nick Harding May 23rd 2011

Lots happening as usual, not least of which is the current MMP offer for the business, of which I am forbidden to comment! However, it goes without saying that I think that June will be an interesting month (with a nod to the first of three Chinese curses, 'may you live in interesting times' ). The four FEC businesses are now back in business and all kicked off well at Easter, despite the hot weather. Neil Finch, who is the the Area Manager who covers the four businesses has had a full year to prepare and plan for the 2011 campaign and having visited the venues I couldn't fault them. We now need the summer to be as soggy as 2010 and our takings will be enormous..... My regular mantra, as readers will know, is all about the promised B3 deregulation. The second of the three Chinese curses is something like 'may the government be aware of you' to which my response is oh yes please, and the third (allegedly) is 'may you find what you are looking for' and there is no doubt that in this case the answer is also a resounding yes please! Latest intelligence suggests that the DCMS are on the cusp of an announcement but given that this process has taken longer than the gestation period of a Blue Whale, you must forgive my cynicism. I am certain that we will get this deregulation at some point and yes it will be very beneficial to all operators in the 'Coin Op' business, but the waiting is incredibly frustrating, not least for our shareholders who I am sure sometimes feel that we are constantly suffering from 'the wrong kind of snow'. On a more cheerful note our bingo business is running well and I can sense that Bingo is enjoying a renaissance at present. I think the underlying reason for this is the very slow recovery from the negative effects of the smoking ban coupled with most good operators realising that you need to provide a decent standard of outdoor smoking area and if you do you will get positive response from your players and it will help build your business. We spent a great deal of money at our clubs in Northampton and Brighton on refurbishing the smoking areas and it has certainly paid off. We are now pricing up a similar programme of work for our flagship at Cricklewood and I would hope that we will commission that work very soon. Our virtual club, Beacon on-line is also performing well and we will shortly launch a new service for our players which will be unique to the world of on-line bingo, so do watch this space! The contract that we have to manage the Agora gaming centres now enters its fourth month and we are very much on top of what was a rudderless ship. The offices and warehouses in Watford are now empty and all administration and control of the business are handled by the team in Milton Keynes with Steve Lawrence adding a number of posts to his team to handle the extra business. One of these new appointees was the manager of our club in Loughborough who has now crossed the rubicon and is doing a great job as operations manager for all our businesses located north of Birmingham. To all intents and purposes those former Agora venues are now an integral part of our estate and when we do press the button and exercise our option to buy I am certain that it will be seamless.

[jpjp100] 20/5/2011 07:15

the PRA deal is still in negotiation, the MVI deal is off

makes the focus on PRA a bit sharper I suppose