Proactis Share Discussion Threads

[whatthe] 03/8/2020 14:51

https://www.bepayd.com/NewsArticle/6 - anybody who reads this and is expecting Bepayd to be the way out of the doldrums of this business is deluded. It's a pretty tragic post basically a plea to get other people to help them sell their services because they can't

[p1nkfish] 03/8/2020 10:00

Well Audrey's group at IPO are starting to get interest.
Need the same here.

[jonstrawberry] 01/8/2020 03:02

Yaaaaaaaaaawn. Stretch. (Checks to see if any of pinky’s predictions from the last 2 years have materialised.) Annnnnnd, back to sleep.

[mrshaungcm] 31/7/2020 19:49

61134 and increasing

[p1nkfish] 31/7/2020 13:18

I hope tou are right.

[cureboy] 31/7/2020 12:05

Board seem to trust Lombard Odier and vice versa I don’t see a very cheap sale. Cheap maybe (95p to £1.10) but not very cheap (70p to 95p). DBAY buying now at just under 36p.

[p1nkfish] 31/7/2020 11:59

Would agree Cure but ultimately sales price is what enough people are prepared to accept.

[cureboy] 31/7/2020 11:34

P1nk, Ive never heard of boring shareholders to death as a way of securing a cheaper takeover price. The value of Proactis and Saas companies in general, as you already know, is derived from their revenue or more specifically ARR and Ebitda and will be determined by a multiple of such. Normally 10-14 x EBITDA, though DBAY paid 9.1 x EBITDA for Harvey Nash. 9.1 x EBITDA for Proactis, correct me if i'm wrong is around £135million based on 2019 EBITDA or roughly £1.40 per share. That's before BePayd which could simply be used as a tool to pay off debts in the first year or two. I just don't see a 70p takeover going through when Lombard and the BoD know the value - cash generative, organic growth phase....etc.

[escapetohome] 31/7/2020 10:39

Indeed Pinkfish, seems that they have a very interesting proposition with their innovative BEPAYD solution.

Last update was encouraging with their reporting of new orders, 10 million if i remember correctly. This shows that their new strategy is working.

Im anticipating a low ball bid, and ill be happy with that.

This outfit belongs as part of a larger group.

[p1nkfish] 31/7/2020 10:22

escape, the stagnation of the share price leads me to believe there will be a low ball bid after the holders have been worn down.

I want to see £2.10 after 2-3 Yr type time frame but every chance it wont get there. No good me wishful thinking, reality is painting a different picture at the mo. It might change if results good but I don't get that vibe. I hope I'm wrong.

[p1nkfish] 31/7/2020 09:52

Having looked further into different impacts I see bePayd as adding nicely. The real knock-on effect will be elsewhere as alternative approaches (other comapnies) come under the cosh.

Don't start a invoice discounting business - the easy days are gone for good and won't be back.

[escapetohome] 31/7/2020 09:44

Only solution for the debt to be addressed is takeover.

A shark with big pockets take over this little innovative guppy fish.

[p1nkfish] 31/7/2020 07:17

I can't see what phd can sell to address debt.
There is a not so subtle deleveraging taking place elsewhere in my holdings as debt is being recognised as holding things back now growth is slowing in some areas.

Perhaps PHD can grow enough to erode the burden but it won't be easy.

[p1nkfish] 30/7/2020 23:00

Some positivity but the silence is deafening and worrisome. Lack of any real turnover of stock on a 95M share float.

[lewis winthorpe] 30/7/2020 22:36

You seem convinced the next results will disappoint. No positivity at all?

[p1nkfish] 30/7/2020 22:16

Not impossible depending on their average price and how long it hangs about here. If the next update disappoints some might throw their cards in and want to put the money to use elsewhere.

So - I think not impossible, unfortunately.

[coldspring] 30/7/2020 21:13

Do you actually think the other big holders would accept that though pink....I'd be surprised.

[p1nkfish] 30/7/2020 20:59

This is the sort of wording that might be used if there is a cheeky offer for PHD. Forget the price, look at the wording. Volume weighted average price over 3 months etc. Hence, being stuck here too long can have a downside too, not just chance of explosive upside.

"The Offer Price of 37.5 pence per HML Share represents a premium of approximately:

(i)  27.12 per cent. to the Closing Price of 29.50 pence per HML Share on 29 July 2020 (being the last Business Day prior to the date of this Announcement); and

(ii)  44.52 per cent. to the volume weighted average price of 25.95 pence per HML Share over the three month period ended on and including 29 July 2020 (being the last Business Day prior to the date of this Announcement)."

[p1nkfish] 30/7/2020 20:49

Anyway, someone tidied the wording today and tightened up on a few points.

[p1nkfish] 30/7/2020 20:48

Changed to new wording here........

"You click "bePayd NOW" to accept the offer.

We get your invoice payment fast tracked and payment can be in your business bank account immediately as per the terms agreed."

[p1nkfish] 30/7/2020 20:41

Some subtle wording changes in the bePayd web site today.

To do with how users can be contacted to be informed - was Text but now any way that suits the user.

Other changes relate to speed of payment and to the agreed terms.

"pay the invoice immediately minus a small early payment discount" BECAME "get your invoice paid sooner (in many instances immediately). You have complete choice whether to get your invoice paid sooner and it can be in as little as 3 clicks."

Something going on to tailor the offer.

[lewis winthorpe] 30/7/2020 18:54

Year end tomorrow. I wonder if we will have an update next week on final year TCV.

[p1nkfish] 29/7/2020 22:02

Worth a read, Proactis April 2020 on what the next 10 years might bring in procurement.