Sci Entertainment Share Discussion Threads

[gnnmartin] 17/10/2008 11:16

There is a slightly less bullish interpretation for the Time Warner development. It might well be that the placing of the original stake (and right to a director) included an agreement not to increase that stake in the market. This is a clause which is quite common when one company takes a minority stake in another. In which case when TW broke that agreement by picking up more shares, they lost the right to keep a director on the board.

The fact that TW want to buy more is bullish, but it might well not mean they are planning to bid.
Nigel Martin

[carver66] 17/10/2008 11:08

I think there is a good chance of a bid on Monday - certainly worth a speculative buy on top of my current holding. At worst they will drop back a couple of pence from here until the general market picks up - or there is some other company specific news. On a risk v reward basis - they have got to be a worth a punt!

[dealy] 17/10/2008 10:55

Under takeover rules the critical point is when a bid has been conceived not made. Once you conceive a bid you are subject to the takeover code and that would certainly include not having somebody on the board.

They probably picked up the first few shares because they were available and then realised that this was an opportune moment to acquire the company. They cannot now buy more shares in the market or have a seat on the board. They have obviously "conceived" their bid. They will now most probably make their bid on Monday and will offer x p to acquire all the shares. I would imagine x to be at least 50p.

[fft] 17/10/2008 10:52

Companies dont telegraph bids if they can help it. They try and get it for as cheap as possible. In which case if they were going to make a bid, then why increase there shareholding at this point ?

I presume that the 5m shares they picked up came from Tchenquiz, but it would have made far more sense to have had them hanging over the market for a few more days / weeks to keep the price down and arrange other things in the background, to make it a done deal (say get 35% and then make the offer).

Now, it would appear, the cat is out of the bag and people will demand a fuller price.

There is no need for the non-exec to resign until the bid is made. Very odd. But, that has been the story of Sci for so so long...

[dealy] 17/10/2008 10:42

Darren

It has been telegraphed that TW are about to make a bid. Why else would they take their rep of the board? No other reason.

[darrens] 17/10/2008 10:38

Well, the obvious (although not necessarily correct) conclusion is that TW are going to bid for SCi and they, therefore, shouldn't have somebody on the Board.

Not sure what other reason there would be to pull off a non-exec "with immediate effect" without replacing them.

[fiat lux] 17/10/2008 10:33

conflict of interest? TW rep leaves SCI so TW have the inside update from it's own man and now they feel the time is right to start piling on the pressure

[darrens] 17/10/2008 10:32

Hmmm...I can't see any particular reason for the TW bloke to resign (and not be replaced) unless something very bad or very good is about to happen.

Not sure TW would have upped their stake if something bad was going to happen so....let the rumours begin!!

[dealy] 17/10/2008 10:22

There has to be a link here between the resignation and possible bid. Only way to ward off conflicts of interest

[togglebrush] 17/10/2008 10:18

I think he was there to counter Robert T's man. But his leaving does make a bid a cleaner and more likely possibility.

[fiat lux] 17/10/2008 10:16

you're cracking up mate

anyway what's happening here? takeover or maj stake prior to a takeover. TW rep as non-exec leaves SEG..summut going on with all this corp shenanhagins

[dealy] 17/10/2008 10:15

Why has the TW man resigned from the board? Are TW preparing a bid?

[the crypt] 17/10/2008 10:12

lol.... you guys really crack me up.

[theband] 17/10/2008 08:22

Cheers Toggle, i thought the TW news this morning would have made more of an impact, nearly got carried away when i saw the price shoot up in early trading but on reflection they always do that don't they, just to get your money, then price drops back to normal. Got to be more disciplined these days.

[togglebrush] 17/10/2008 08:18

theband: Robert T was financed by an Icelandic bank which went Base over Apex last week. Robert T's man on the board resigned last week. Where all his shares have gone is still an unknown (reported had between 39 and 45 million with CFD's as well). But we do know about TW.

TW has 14% and a man on the board after the open offer in Mid Summer. They now have 16%.

[darrens] 17/10/2008 08:12

Pasta, I'm cautiously optimistic about the game. If they'd released it any other time of year I think it would be a dead cert to sell really well. But can it compete in the Xmas crush?

Not sure yet. I actually think it will be one of the winners in the UK, I'm cautiously optimistic about the rest of Europe but sceptical about the US.

[pastasource] 17/10/2008 07:50

couple of days old, but a positive new write up for TRU given the title was seen in a much more complete state. End of the article suggests another update next week.

[theband] 17/10/2008 07:40

Morning all, could someone fill me in, has Tekniquiz sold all his holding in Sci.
Also, am i right in thinking TW only had 10% a few months ago. Is 16% the most theyve had ?? thanks.

[togglebrush] 17/10/2008 06:20

RNS: Time Warner goes from 37,518,080 to 42,518,080 shares or 16% of holding.

[darrens] 16/10/2008 16:44

Rob, I've had TC on filter for ages so I'll take your word for it.

TRU mentioned en passant by the GAME CEO as one of their big Xmas titles.

[uncle-bob] 16/10/2008 16:36

If The Crypt and Compo/Opmoc were ever in a room together, then I believe the universe would turn inside out and we would all disappear in a huge ball of blinding light.

[togglebrush] 16/10/2008 16:03

dealy: Time Warners public image would take a huge denting if they tried such a tactic. Wall Street's public standing at the moment isn't much above ground level zero. For a company selling retail to the public it could be dangerous to say the least, but it is possible. A TW non exec is already on the board.

[the crypt] 16/10/2008 15:58

lol me arties!!! lol yer drivellers! talk sense lad. These are worth at least 73p.