Proactis Share Discussion Threads

[cureboy] 10/5/2021 15:40

RNS Lombard Odier top up. A bit of beer money for them.

[buywell2] 07/5/2021 20:12

buywell likes the look of Tekcapital (TEK)

Which has acquired various patents from Universities in the main, via its own unique search tool from which it also makes monies to fund turning some of the patents into companies associated with GREEN intent and growth markets of in excess of current $ 1 Billion.

They have developed 4 such in the last few years , and the first one Belluscura is now set to float on AIM later this month

It has just made a novel 3L/5L oxygen concentrator that weighs just over 3 lbs .

It is a 2 for 1 deal since the swap of a cartridge (by the user in seconds) , changes it from 3L per min at 95% pure oxygen to become 5L per min

The only one that can do this ( modular and patented ) with 510(k) clearance just granted

It has 2 more larger designs in the pipe

One of which buywell believes would be well suited to USA Armed forces application being more than 50% lighter than the current battlefield unit used.

The small unit is ideal for COPD and long COVID , OSA , Asthma and a load of other ARDS complaints that need home oxygen therapy

There is surprisingly around 2 Billion people in the world that come into this category --- see buywell2 posts on TEK over the last few weeks

imo dyor

[cureboy] 07/5/2021 09:04

Worth the risk of holding onto some here as we may be able to eek out another 10%+ if another bid comes in. Meanwhile Pollen Street are in a strong position with the 75p cash offer and only needing another 3% voting in favour. The scheme is dead now that DBAY have quickly accumulated to 25%.

[coldspring] 06/5/2021 12:14

I have read back on telit today and it seems that dbay have been in due diligence for quite a while, mid March time with the initial u blox transaction having been ended.An offer could be pending there but no guarantees. If the agreement doesn't go through here then surely an offer would at 75p? They only need 3 to 4 percent more. It is then up to others to rise the bid if they want in.

[p1nkfish] 06/5/2021 11:02

Anyone fully familiar with Tellit and how that first offer collapsed?
It could happen here and DBAY then pick over the bones.

What was the timeline/history - anyone?

[p1nkfish] 06/5/2021 09:30

Baiden, double checked, my mistake. Sorry.
The ten days is the window for Pollen to respond if a 10%+ higher offer arrives for some irrevocables to still be in force.

"Bidco does not, within ten days of such third party announcement, announce an increase to the consideration to be paid for the Proactis Shares to at least an equivalent amount per Proactis Share as being offered under the competing proposal."

[baiden2000] 06/5/2021 09:08

Pink, you mentioned a couple of days ago that there is a 10 day window for any counter bids to be made. I was under the impression that this period is much longer with a scheme of arrangement?

[coldspring] 06/5/2021 08:44

Plenty of stock available this morning so far.

[p1nkfish] 06/5/2021 07:48

We are witnessing some real-time game theory applied to future control of a publicly listed entity. Could be my interpretation is completely wrong, TBD. Interesting to watch.

[cureboy] 06/5/2021 07:38

Time for DBAY and/or previous interested US private equity to show their hand.

[p1nkfish] 05/5/2021 21:43

The new % holdings are on the website now.

[p1nkfish] 05/5/2021 21:42

Lewis, they might want some alternative offer shares but that looks more risky than cash. Aubrey and Potts are taking a % of their holdings in shares in the new company. Other BoD members are taking all cash.

Note, possible future dilution and no guarantee of being able to take part to avoid dilution. Giving much control away, can you imagine DBAY being happy with that? I can't easily. Total lack of control.

"The Alternative Offer Securities will be independently valued and an estimate of the value of the Alternative Offer Securities will be included in the Scheme Document."

"holders of Alternative Offer Securities may be diluted over time, potentially significantly, should holders of Alternative Offer Securities not elect to participate in further issues of additional shares, loan notes or other securities of Topco; and (ii) holders of Alternative Offer Securities are not always entitled to participate in such issues)."

[coldspring] 05/5/2021 19:27

Is it a valid concern that the current agreement could fall through due to DBAY and that the offer price is then lower or is that forbidden due to the earlier agreed 75p ? Trying to look for negatives as this seems to good to be true

[lewis winthorpe] 05/5/2021 19:17

What if they see potential I'm the new private company? Surely a good time to buy possibly.Or could this be a move to provoke a bidding war to get the sale price up.I heard the original fsp offer was between 65p and 85p. All fits, time will tell.

[p1nkfish] 05/5/2021 18:08

Exactly cure.

I can see no other reason than they expect a buy at 75p to return more value than 75p else why bother? They don't do these things by accident.

[p1nkfish] 05/5/2021 18:05

The shareholder section of the Proactis website has now removed GAM but leaves DBAY at 17.27%. It used to be updated quickly - lets see what tomorrow brings.

[cureboy] 05/5/2021 18:04

I still hold onto 55.6k shares just in case of a counter bid. I think the most likely scenario is an offer from DBAY as there's no reason at all for them to buy millions more at 75p.

[p1nkfish] 05/5/2021 17:49

LO average was sub 30p if I remember correctly and towards 28p or so - there was a calculation on this PBB a while back - all approx.

Recent increases in holding will have pushed their average up a tadge.

The only reasons I can think of them increasing is to have a bit more leaverage if needed but probably because their recent buy is an easy 3.2% return at what they consider low risk??

The summer could be tricky eslewhere but here, if it goes through, its 3.2% return on the most recent buy LO made or higher return if another offer at 82.5p+ arrives. It's decent reward/risk rather than sitting in cash or risking being exposed to a wider market sell-off.

DBAY are known - just look at their recent activities - so if LO believe there will be a competitive situation why not add as much as they can to maximise return?

I sold out too quickly, bought back some to take part in the dying throws.

[coldspring] 05/5/2021 17:32

Thanks pink you have confirmed what I was wondering. The other interesting part is why LO have increased, are they thinking of a bid on their own or on behalf of someone else? What is their average? Essentially could DBAY or LO make the offer at 82.5p but still end up paying less than BIDCO because of their initial holdings?

[p1nkfish] 05/5/2021 17:31

If Pollen think this is a good buy at 72M it's even better at 71.2M - why wouldn't DBAY be interested?

Why have DBAY paid 75p for at leat 1M shares when there is no price upside for that purchas? Surely it is ony because the value to DBAY is greater than 75p or is intended to be??

Any other explanations?

[farhantahir1] 05/5/2021 16:51

Yep this is beginning to look interesting. I don't hold a lot here (I held close to 100k shares but sold out for Bitcoin plays (so not to bad a deal lol).But my target was always closer top £1 a share - does look like we may get there.

But I do wonder if DBAy have to make a bid if they choose to vote the deal down...? I don't see why not - the current management team isn't great. So DBAY will need to force changes. Plus, Bidco are seeing value at 75p a share - wonder if DBAY see that as undervalued?

[coldspring] 05/5/2021 16:44

So DBAY not named in the irrevocable category of agreement and now at 25% plus so if they vote against it then do they have to make a bid themselves or can they just say no and the deal is dead?

[p1nkfish] 05/5/2021 16:40

What is very interesting?
GAM sold out 5.36% with what looks like all going at 75p!!

WHO PAYS 75P WHEN THE OFFER IS FOR 75P. We are not talking a few 100K shares?

Someone has forked out about 4.4M GBP with NO UPSIDE POTENTIAL IN PRICE UNLESS THERE IS AN OFFER > 75P??

What am i missing?

[p1nkfish] 05/5/2021 16:24

What is going through DBAYs mind?
Could they reach 30% or influence another 25% to vote down an Offer?