Proactis Share Discussion Threads

[lewis winthorpe] 04/5/2021 10:15

Why would dbay not be happy. Large profit.

[coldspring] 04/5/2021 09:55

I am admittedly in new territory here, how does this play out. Clearly someone, probably DBAY, is not happy with the deal. Is the only option to bid 10% higher or are there other avenues?

[cureboy] 04/5/2021 09:38

Someone wants all your stock at 75p.

[coldspring] 04/5/2021 09:17

2.9 mill buy at 75p.............WOW this has got legs

[cureboy] 04/5/2021 09:03

If DBAY are hoovering up as suspected, hold onto your hats.

[coldspring] 04/5/2021 08:42

500k a buy too? Cant be a sell surely.

[coldspring] 04/5/2021 08:41

Yes I quite agree cure, buckle up this could get exciting.

[cureboy] 04/5/2021 08:23

Is that a £750k/1 million share buy at 75p? Could be a sign - no one should be buying at 75p or above and certainly not in that volume. Could be further games afoot here.

[p1nkfish] 03/5/2021 22:38

If a 2nd interest is shown I doubt they will rush but rather leave it until towards the end of the 10 days. Increases in holdings would have to be declared but people selling out now might find DBAY picking up the stock at 75p, if possible, to increase their leverage??

[coldspring] 03/5/2021 22:10

RNS tomorrow would put the cat amongst the pigeons, additional bidder......we'd love to see it!

[whatthe] 03/5/2021 12:08

Congrats to all who held and have made a good profit on this. That said the destruction of value from the management team in them selling this at 75p is extraordinary. If people had guts to make changes at the top a year ago this would look very different. The new owners will make a very healthy return on this. As always suspect it's the staff that will be hit hardest. If you've made good money as a shareholder I'm very pleased for you but this should become a case study for the impact of poor management on a solid UK tech business.

[p1nkfish] 03/5/2021 09:58

22/04/2018 this opened at 190p.
About 3 years 1 week later we hail a sale of it all at 75p/share after much drama.
What an f-up.
I've been lucky and made money from it but the overall destruction is notable.

[p1nkfish] 03/5/2021 09:22

PJ, if a better offer arrives the BoD still have to consider it.
If > 10% higher the irrevocable can become void.

Rules of an offer would apply to both parties and there is enough retail here to make a difference if a good enough offer arrived. An extra 10% might well swing it.

[p1nkfish] 02/5/2021 16:36

Holding any longer depends on chance of another approach within the time limit and what else you can otherwise do with the capital over the 1qtr+ it can take to close, unless you apply for the shares. Have a few targets for the cash in mind. GLA.

[coldspring] 02/5/2021 16:06

I think this deal is already a good premium above the share price so difficult to see a bidding war, hope I am wrong though!

[cureboy] 02/5/2021 10:10

Could US private equity up the ante now another has shown their hand? It seems like it’s pretty much a done deal with Pollen Street.

[p1nkfish] 02/5/2021 09:39

Well, DBAY will be put in their box then and along with them the chain of influence via Malta and Austria/Germany if the ownership of their shares is still the same??

Was thinking there could be another 10%+ upside but if not then nothing to lose by exiting early and re-allocating capital elsewhere.

There are others out there, still some interesting opportunities even though much has bounced back.

[franki8] 01/5/2021 22:04

nice to see prediction coming to fruition. would love me a bidding war here, but doubt it. Still, decent payoff

[pj0077] 01/5/2021 14:50

The current bid is in the form of a Scheme of Arrangement, requiring 75% shareholder approval. Yet Bidco could easily switch to a standard Offer instead, requiring 50% acceptance........."The Acquisition is intended to be effected by way of a Scheme. However, Bidco reserves the right to elect (with the consent of the Panel and subject to the terms of the Co-operation Agreement) to implement the Acquisition by way of an Offer. "

[p1nkfish] 01/5/2021 13:06

Don't know about an FSP, probably just counter bid at 10% above.

Whatever it is, 75% needed and if DBAY play up with a small number of others it might not be a slam-dunk for Pollen Street.

[coldspring] 01/5/2021 12:38

Thanks cure, hope you have made a wedge too. This could get very interesting if it triggers more bids. Could it trigger another FSP if more than one additional bidder comes in?

[p1nkfish] 01/5/2021 12:20

Notice news yesterday not in the last set of results -



DBAY get your wallet out.

[p1nkfish] 01/5/2021 12:19

DBAY had better pull a finger out if they are interested.

[p1nkfish] 01/5/2021 12:18

Have GAM given an irrevocable undertaking? If not this could easily be blocked as DBAY + GAM = 22.54% and it only needs another 2.5% to vote no.