Prestbury Share Discussion Threads

[wormcatcher] 09/5/2007 17:52

Bottom drawer for another year (until the next round of offer speculation!?)

[wormcatcher] 09/5/2007 17:50

Wonderful - deja vous!

[mrsasal490] 09/5/2007 15:58

No comment !!

[baggywrinkle] 30/4/2007 10:44

Improvements still being made to offering whilst talks continue:
see mortgage strategy 27 April:

"Towergate Riskline has teamed up with Prestbury to offer commercial and household insurance.

Members of the Prestbury's financial adviser network now have access to commercial insurance and non-standard household products through Towergate"

See MS website for full article.

[1ocnik] 30/4/2007 07:55

LOL..WC that better than the "The last waltz"......;-))

[wormcatcher] 30/4/2007 07:32

Please release me, let me go
For I don't love you anymore
To waste our lives would be a sin
Release me and let me love again

[wormcatcher] 25/4/2007 19:31

Fingers crossed then Mrsasal

[mrsasal490] 25/4/2007 11:54

Have just personally spoken to Lee Birkett regards the approach.

He obviously couldnt say too much but we have more than one interested party, it is a "full strong cash offer", and they want exclusivetivity (spelling?) so we have said yes but for a premium. Following normal Take over Panel rules for a time frame.

[wormcatcher] 20/4/2007 17:46

Anything above 22p would at least mean I get my money back!
Fingers crossed this time.

[unisave2] 20/4/2007 17:03

whatever is happening I think a deal is on the table this time!

[baggywrinkle] 20/4/2007 14:31

Am slightly puzzled as to why they are to do due diligence without an offer being on the table. If there were one, would we not have to be told ?
Why would PBH incur cost of PWC and interested parties their due diligence costs, if not seriously interested. It may be linkage with PIM that they want to check.
On the other hand, maybe board decline to consider offers conditional on due diligence and are insisting that any offer has to be unconditional, in effect moving to an auction, where when the hammer goes down, the deal is done ?

[1ocnik] 20/4/2007 14:10

Good luck peps...;-)

Kinco1

[mrsasal490] 20/4/2007 14:07

Come on guys where are you all, have you all sold out and left me here on my own, if so I will turn the lights out and close the door when I sell !!


Price paid for that 30% stake if in paralell and like for like that puts PBH at 86p per share, cant see it somehow, but not a deep mathmatician in working out things like this, any thoughts anyone?

[unisave2] 20/4/2007 12:44

This is interesting....

RNS from 18th April

Promethean have paid £8m for 30% stake in Enterprise which has turnover of £12.5m and originates £1 billion of Mortgages per annum

Prestbury also has turnover about the same and also does £1 billion of Mortgage business pa

Announcement from Prestbury this morning suggests someone thinks Prestbury undervalued at present

Subscription of 30% equity stake in Enterprise Group

Promethean Investments LLP is pleased to announce that Promethean Investments
Fund LP ("Promethean"), the investment fund of which Promethean PLC is the
primary investor, has invested £8.5million for a 30% equity stake in Enterprise
Group Limited ("Enterprise Group). Promethean has now invested £42.5m out of
£48.35m (some 88%) of the net placing proceeds raised in June 2005.


Enterprise Group is widely recognised as one of the UK's largest and most
innovative mortgage and loan distribution companies, now originating close to £1
billion in mortgages and loans per annum. Its subsidiaries include Enterprise
Broker Services, Enterprise Finance, Enterprise Debt Solutions, Enterprise
Partners, Enterprise Homeloans, Choice Homeloans, Mint Homeloans, Thinc
Enterprise, Enterprise Wills and also its unique 'EDGE' sub-prime sourcing
system.


Over the past 6 years, Enterprise has grown from a new entrant to become an
established and dominant player in the market by securing formidable
distribution contracts with many of the UK's largest and most successful
Networks, including; Openwork, Home of Choice, Intrinsic, Positive Solutions,
Mint and Thinc, as well as building strong relationships with many directly
authorised brokers. Turnover of the Enterprise Group for the year ended 31st
March 2007 was approximately £12.5million.


Enterprise pioneered the concepts of 'safe sub-prime' and 'branded-packaging'
and specialises in providing regulatory protection in the sub-prime market for
all its introducers through its unique EDGE system and its robust sales and
replacement procedures.


EDGE, which was launched in May 2006 and now has over 2600 registered users,
provides the first accurate and dedicated sub-prime sourcing system. It also
provides an instant audit trail to demonstrate that thorough research has been
carried out prior to recommendation. Version 2 of EDGE, which is fully
integrated with many of the specialist lenders' systems is due to launch in
June.


Sir Peter Burt, Chairman of Promethean PLC, said today, "Having extensively
reviewed the market, Enterprise stood out as a shining example of how a mortgage
and loan distribution company should be evolving in the regulated environment.
Every box was ticked for us, and we are very excited about working with the
management team to maximise on the vast opportunities we see in this market. The
EDGE technology is the first true sub-prime sourcing system we have seen that
offers full regulatory protection and best execution for its users."

[1ocnik] 20/4/2007 07:35

Prestbury Adviser Appointment


RNS Number:2126V
Prestbury Holdings PLC
20 April 2007

Prestbury Holdings plc ("Prestbury" or the "Company")

Further to the announcement of 1 March 2007 concerning the review of strategic
options, Prestbury confirms that PricewaterhouseCoopers LLP has been appointed
as financial adviser to the Company. Prestbury has received a number of
approaches from parties interested in acquiring the Company and expects due
diligence to begin shortly.

The board emphasises that there can be no certainty that any offer will
ultimately be made, nor the terms on which any such offer may be made.

Shareholders will be kept informed as appropriate.


END



Dealing disclosure requirements



Under the provisions of Rule 8.3 of the City Code, if any person is, or becomes,
'interested' (directly or indirectly) in one per cent. or more of any class of '
relevant securities' of Prestbury, all 'dealings' in any 'relevant securities'
of Prestbury (including by means of an option in respect of, or a derivative
referenced to, any such 'relevant securities') must be publicly disclosed by no
later than 3.30 pm (London time) on the London business day following the date
of the relevant transaction.

This requirement will continue until the date on which the Offer becomes, or is
declared, unconditional as to acceptance, lapses or is otherwise withdrawn or on
which the 'offer period' otherwise ends. If two or more persons act together
pursuant to an agreement or understanding, whether formal or informal, to
acquire an 'interest' in 'relevant securities' of Prestbury they will be deemed
to be a single person for the purpose of Rule 8.3 of the City Code.

Under the provisions of Rule 8.1 of the City Code, all 'dealings' in 'relevant
securities' of Prestbury by Prestbury or by any of their respective 'associates'
must be disclosed by no later than noon (London time) on the London business day
following the date of the relevant transaction.

A disclosure table, giving details of the companies in whose 'relevant
securities' 'dealings' should be disclosed, and the number of such securities in
issue, can be found on the Panel's website at www.thetakeoverpanel.org.uk.

'Interests in securities' arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an 'interest' by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative reference to, securities.

Terms in quotation marks are defined in the City Code, which can also be found
on the Panel's website. If you are in any doubt as to whether or not you are
required to disclose a 'dealing' under Rule 8 of the City Code, you should
consult the Panel.

[1ocnik] 13/4/2007 16:33

Am waiting for a return E-mail..if i find out anything I'll let you know if i can......No position here..;-)

[mrsasal490] 13/4/2007 16:32

Mmmmm, anybody with ears to the ground, tabled bid ?

[baggywrinkle] 28/3/2007 14:49

Unable to go to the AGM today.
Wondering whether any one else did ?

[mrsasal490] 07/3/2007 17:19

I will if you will !! Hehe

Seriously though i may try to change my schedule and go this time...

[baggywrinkle] 07/3/2007 11:53

AGM at 0900 on 28 March in Alderley Edge.
That means an overnight stay to attend unless one lives in NW - not overly helpful to shareholders.
Anyone likely to go ?

[james 2] 02/3/2007 12:02

£1m raised to accelerate recruitment of AR's, since the cash was raised they have managed to add 1 AR to the list !

Better to sell the company before LB dilutes it into the ground.

Is FM ever anything other than cautiously optimistic !

[1ocnik] 02/3/2007 11:04

got it remove before the loon tunes get it...;-)

[1ocnik] 02/3/2007 10:54

LOL...I Didn't,they did,twice,just think of some thick northern monkey and you won't be far off......;-))))