Project Telecom Share Discussion Threads

[iampoor] 11/8/2003 20:21

PaulKent.. / 37 Dolphin / Potentials ..........good luck for future investments .......

[37dolphin] 07/8/2003 14:45

iampoor/potentials

Have sold 3/4 of my stock at 69p today, will take the 70p (or better!) on remainder once offer comes.

No real cadidates as to where to put the proceeds, but put a small amount into AHT and HNL (both too risky for large sums), and some more into blue chip banks for short term, hoping that recent declines will reverse.

Looked at mmc, will wait and see!

[potentials] 07/8/2003 11:15

i am also tempted to come out and get the money now to put elsewhere .... will first await timetable to see just how long i may have to wait if i wait around for the full 70p.... as even 1p off costs me more than 500 quid.

(iampoor - worth a look is mmc - results out next monday but be careful as sales warning on 04/07/03 lead to drop to 30-31.5p at which shares have stayed since - IMHO best not to buy before results issued but depending on the actual interims on monday 11/08 and the resulting share price movement it is worth researching and keeping an eye on - DYOR.)

[iampoor] 06/8/2003 19:42

PaulKent .............. understand ........i have bailed out as well (today ) , not critiscing, wishing you all the best and any tips might come in usefull..........still a lot of strange trading here so not sure whether i have come out at the best time .............Good luck ...meg longterm a winner........as usual imho ...etc.........
djw

[paulkent] 06/8/2003 10:48

iampoor
as i said, i jsut dont like running the risk of due diligence throwing something up if theres no chance of a higher bid anymore...wasnt going to make much and downside if something is found is a nitemare (as i found with Holmes!)
Ive taken it out and bought SOP and LOQ, two little players that have done well already, but have lots further to go i think

[37dolphin] 05/8/2003 22:02

iampoor

70p was too easy for VOD, i expected that they would have to fight a bit harder for PJT, the shareholders that own the 60% must have been keen for exit, clever tie in but why have the £1.6m payout to VOD (check the info on press releases) if there is another bid - perhaps its not quite as committed as we think.....

US had a bad day, so may wait before re-investing. I'll watch for a day or 2 then sell upto 3/4 of my holding. We will only gain a further 2% return by holding on if really is a done deal, if loop holes, then maybe more interest. Would like to find another company that has had a profits warning/restructure but has a sound balance sheet (as PJT did).

Enjoyed the banter. will post here again when i've made next decision on stock.

[iampoor] 05/8/2003 18:32

Paulkent ............don't know how many shares u had but 70p definite so why not wait ........unless u have a fantastic tip for us ............
same here 37Dolphin .........not sure where next ............any ideas
p.s. many thanks for ur comments over the months ......... I knew your guesstimates were just a tad too high but enjoyed the banter .........to be truthfull i think the price is right under present circumstances .............. 37 Dolphin maybe see u on another bb which will increase our wealth .......
regards ,
DJW

[paulkent] 05/8/2003 17:59

i sold the minute there was only a 2p upside left...(the 60% committed deal means noone else can bid )...coz Id previously held onto Holmes Place when the £2 Cannons bid came in and could have sold at £1.90..and then due diligence dredged something up and it fell back to £1..!!!!...lesson learned about takeovers!!

[iampoor] 05/8/2003 16:43

Confused at todays volume espec. buys .......as pjt specifically said vod the winner even though higher offer received ........ can anyone explain please.

[thegrimreaper] 05/8/2003 07:08

Vodaphone would do better to buy Cable & Wireles for 116 pence ! !

[37dolphin] 05/8/2003 06:48

oops - "Project Telecom Shareholders who have given these undertakings have agreed to accept Vodafone's Offer even in the event of a higher bid being received for Project Telecom."

Does this mean no chance of a rival bid?

[37dolphin] 05/8/2003 06:42

OK good news is its for cash.
I'm going to hold and see what happens now.
Congrats to thread producer at getting it spot on - SO FAR!

Hasn't hit my £1 estimate yet!!

[panagos] 05/8/2003 06:16

banj......i wish i didn;t think it was pure ramping.....

[banj] 05/8/2003 06:14

games up lads



how prophetic the title of this thread

[37dolphin] 04/8/2003 10:51

Could ECK be a contender?
Synergies from Energis network provider, mobile wholesale?
Have asked the same question on ECK site. Not sure if ECK could raise the funding though, and resulting intangible assets would be greater than shareholder funds.

[iampoor] 03/8/2003 17:41

37 dolphin .... absolutely agree but ........noted your comments in the past .. of up to £1 ...which i think far too optimistic but................... might certainly be more than 70p if there are truelly others interested ...........or was that just a ploy by the company to add an s to other in its original statement.......
who knows..
fingers crossed

[37dolphin] 03/8/2003 16:46

Hi guys, all keeping eye out this weekend!
The £145m is the current market cap ie 65p.
70p a share imo is too cheap:-

2003 forecast of £155m turnover?
2003 forecast of £14m pre tax profit?
2003 forecast of £20m net cash?
2003 forecast of £21m EBITBA?

A value of £155m would mean forward multiples of:-

1x turnover
11x pre tax profit
7.75x net cash
7.4x EBITDA

A value of £222m would mean forward multiples of:-

1.4x turnover
15.9x pre tax profit
11.1x net cash
10.6x EBITDA

Some EBITDA comparisons (based on last y/e info):-

TEP 22x
THUS 12x
VOD 9x
OOM 5x

IMO, in the US, ave pre tax profit acquisition multiple is 15x.


In all our minds though is the trading statement a few months back which stated that pre tax profits for the current year would be in line with last years for continuing business. Since then, the company has sold PTD (which enhances pre tax profit (as PTD made an operating loss), and bought IMS (with 9 month sales of £10m). These last 2 deals should increase pre tax profit from £12m to £14m if all else stays the same as 2002.

With mobile customer acquisition becoming ever harder, purchase of other companies makes sense.......I don't think a price of 70p for PJT would secure a deal....

[iampoor] 03/8/2003 13:46

Telegraph quotes value £145 ml...........
Mail on Sunday value £155ml...
as stucom has already quoted above (70p/share)
any other guesses , and /or do you think there are still any other players still involved ?
looking good i hope

[stucom] 03/8/2003 09:15

mail on sunday has 70p a go......

[jenks31] 01/8/2003 13:34

Some big old trades going thru (see last 2-3 hours)...must be something tangible happening...even if its not for public consumption !