Praesepe Share Discussion Threads

[ukinvestor220] 08/9/2010 07:11

£1m / 13,333,333 = £0.075 per share - is that right ?

[jpjp100] 26/8/2010 11:56

a bit of volume ticking through today - 761k before lunch reported

hopefully that is making some inroads into the institutional seller's heap that Byron Evans alluded to in the email mentioned above...

[freddie01] 20/8/2010 09:26

www.praesepeplc.com

Left hand side of page.

[brownie69] 20/8/2010 08:48

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)

[rambutan2] 18/8/2010 22:47

For the record, it's worth noting that up to 145m more shares are hanging about in the background.

Under the terms of the Loan Notes, the Conversion Price is adjusted if the
Company issues shares at less than 8 pence per share, by applying a 25 per cent.
premium to the price of such issue. Accordingly, as the Placing is being
conducted at 7.5 pence per Placing Share, the adjusted Conversion Price will be
9.275 pence with the result that MVI will be entitled to subscribe for
116,321,845 new Ordinary Shares pursuant to the exercise of its Conversion
Rights if the Loan Notes are held to maturity.
As described above, the Company and MVI have agreed to amend the Loan Note
Instruments in order to allow MVI to exercise its Conversion Rights immediately
following satisfaction of the Conversion Conditions and, accordingly, the terms
of the Loan Note Instruments have been amended to enable Conversion at any time
after the Conversion Conditions are satisfied.
In addition, if the Conversion Conditions are met, Praesepe can elect to convert
the Loan Notes and any accrued interest if the volume weighted average price of
the Ordinary Shares over three consecutive periods of 20 business days has
exceeded 20 pence, and at least five per cent. of the Praesepe issued share
capital is traded during each 20 business day period.


Also, the Vendors (of Beacon) may also receive up to 28,500,000 additional Ordinary Shares conditional upon the Company achieving a share price of at least 20p within the next ten years or a Change of Control occurring at a value greater than 10p per Ordinary Share, further details of which are set out in Part V of this Admission Document.

[empirestate] 18/8/2010 21:09

looks like a few sell orders are lingering around here at the moment, put it on me radar to have a look at the books.
UK hope u are ok and don't forget to pencil in the 30th Sept for the get together

[ukinvestor220] 17/8/2010 18:14

0.33 exactly, rising to 0.75 for 2011

[jpjp100] 16/8/2010 09:51

£1.26m is about a third of a penny EPS

[ukinvestor220] 16/8/2010 09:36

i think we need to see an actual return to profitability before interest resumes in this stock. 2010 forecast profit is 1.26m against cap of 20m

[ukinvestor220] 16/8/2010 09:33

Bearing in mind the number of holidaymakers staycationing this year, born out by the statements from TT. TCG and HBR, youd expect the potential for seaside and city sites to do very well this year.

[ukinvestor220] 16/8/2010 09:28

I resent my request for information today indicating that I hd received no response, copying in Nick Harding.

Immediately I got a reply:


From: Byron Evans [mailto:[e-mail]]
Sent: 16 August 2010 08:55
To:
Cc: Nick Harding
Subject: RE: Query from Shareholder


Dear Mr ,

I responded to your email on the date it was received and can only apologise if you haven't received my reply.

The Board of course review the share price on a regular basis and have noted that recently there appear to have been some institutional sales taking place. It may be useful to note that in recent weeks virtually all of the senior team signed up to the SAYE scheme. Also as recently as June the CEO, CFO and Commercial Director all purchased additional shares in the company, which hopefully reflects the confidence that we have in the stated strategy of the company.

If I can be of any further assistance please do not hesitate to contact me.

Regards,


Byron Evans
Commercial Director



Seebeck House
1A Seebeck Place
Knowlhill
Milton Keynes
MK5 8FR

Tel: Direct Dial 0845 521 5049
Fax [phone]
Mobile [phone]
Email [e-mail]



CONFIDENTIALITY AND DISCLAIMER NOTICE
This email is confidential and may contain information that is privileged and is intended for the use of the above-named recipient(s) only. If you are not the intended recipient(s), you are notified that any dissemination of the information contained in this email is strictly prohibited. If you have received this email in error, do not print, forward or copy it and please notify us immediately at [e-mail] or on telephone number 01908 351200 or fax number 01908 669714 and delete this email from your system. We believe, but do not warrant, that this email and any attachments are virus free. You take full responsibility for virus checking. Praesepe plc reserves the right to monitor all email communications through their internal and external networks. Praesepe plc, Seebeck House, 1A Seebeck Place, Knowlhill, Milton Keynes, MK5 8FR
You can visit our web site at: www.praesepeplc.com

[jpjp100] 11/8/2010 14:48

A new bulletin box update today

With the season now in full swing I am very pleased with our four FECs (at Weston, Burnham on Sea and Ilfracombe). All four venues have been reequipped with particular emphasis on children's 'ticket redemption' prize machines and these are proving a big hit with the holiday makers.

At our inland AGC venues Steve Lawrence and his new Operations team are now getting up into top gear on all fronts and again this is having a very positive effect on the business.

Similarly Kevin Hamilton and his Beacon Bingo team are producing some great results, not only at the Club venues but also in terms of our on-line 'BeaconBingo on-line' web site. When we bought Beacon we were confident that we would be able to identify considerable synergies between the two businesses and this has been the case. Les Brydon, one of my former Regional Directors from Talarius has been working with us on a consultancy basis, spearheading the integration of the two businesses and this initiative is going well.

When we purchased Beacon there was a live deal to sell the Streatham Bingo club to a private operator. Having reviewed the club and its potential we decided to abort this deal and we are now working hard to breathe new life into the business in Streatham and to allow the Club to reach its potential earnings targets. This is starting to come through now and the venue will now make a serious contribution to group EBITDA.

Nick Harding August 2010

[rambutan2] 10/8/2010 16:05

As Marwyn were the founder shareholders and are still v much hands on (and hold a 28% stake), it's probably worth keeping an eye on MVI on the off chance that they give PRA a mention.

[jpjp100] 09/8/2010 22:12

OK, as I was concerned about the share price, I did some research. I went back over recent announcements and I visited two venues again: the crystal rooms and a bingo club.

Two things give me cause for optimism and, whilst they don't totally eliminate every last bit of any concern I have had about the falling share price, I am more than satisfied to stick with my investment.

i) Bingo! The electronic bingo is a superb product and this statement from the annual report 'We continue to apply to vary venue licences from AGC to Bingo Club and are working on a way to link all these small 'Micro Clubs' together in a way which will allow the bingo player who is out doing her shopping to drop in and play for exciting prizes that compete with other types of gaming on the High street.'

If PRA can indeed network its bingo machines across its venues (just as conventional bingo already does), then the jackpot size (and likely frequency) will be very attractive. I saw jackpots on the machines in situ (not linked across sites) at £2k and £7.2k! As implied in the annual report, this will help to win a share of business from other venues - where else could you go now to have the potential to win £7.2k from a low stake machine (casinos tend to only be up to £4k)

If you haven't played these machines (or watched someone play them), its hard to understand just how good they are at extracting money from players. From an operator perspective they are smashing.

2. B3 stakes review. Appreciating that PRA's venues are, essentially, fixed cost from the perspective of machines, then any increase in revenue makes a very big impact on profitability. The DCMS is reviewing stakes and there is talk of an increase in B3 stakes from £1 to £2. Again from the PRA report 'we do believe that this would be further underpinned by an increase in stakes on
Category B3 machines later in 2010, which we expect to come as a result of the current review being undertaken by the Gambling Commission and the Department of Culture Media and Sport. Any changes in stake levels on B3 equipment will affect both our AGC business and our Bingo Club business.'

Once the DCMS review is completed it will, at the very least, take away an element of uncertainty and, if the outcome does allow a stake increase / improved ratio of B3 to C machines, the benefit to PRA will be significant.

As an aside, if the review negatively impacts FOBTs in bookies, there is even more potential for the bingo offer to appear as an attractive alternative to more people.

[sscrabble] 09/8/2010 13:07

down again !

no reply to your email uk ?

[jpjp100] 06/8/2010 13:28

why evans and not harding?

[sscrabble] 06/8/2010 09:30

good idea !

[ukinvestor220] 06/8/2010 09:26

_____________________________________________
Sent: 06 August 2010 09:25
To: '[e-mail]'
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

[sscrabble] 04/8/2010 19:12

.125 points every single day for 7 days -look at that graph , down about 40% in 4 months. Surely it is about time the directors did or said SOMETHING !!!!

[sscrabble] 03/8/2010 09:41

now a drop first thing every morning - what is going on here ??!!

[jpjp100] 02/8/2010 13:33

OK, another down day on the cards. This is starting to make people think there is bad news in the pipeline now and that is not good.

So, if you could directly ask Nick Harding a question or two - what would you ask?

Mine would be

i) Tell me more about the acquisition pipeline, specifically acquisitions outside the UK that have already been flagged up in earlier announcements: what stage are they are, are any ready to drop, what (if anything) is stopping further acquisitions / mergers being completed anytime soon?

ii) Has the Beacon integration gone anything like to plan: What synergies are being realised and what is the profitability now compared to previously?

iii) Is there any bad news in the pipeline that is dragging the shares down - were revenues adversely affected by the world cup? Is the economy so kyboshed that people aren't playing anymore? Has someone run off with a couple of months takings?

[ukinvestor220] 30/7/2010 09:38

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 !!

[sscrabble] 30/7/2010 08:33

I fear for my investment here - this kind of steady drop on a chart usually ends with horrendous news and a drop to nearly zero. Beginning to look like my 'bet' that someone with a previous track record of success would succeed again was sadly misplaced.