Sci Entertainment Share Discussion Threads

[ahernsv] 17/10/2008 21:34

SCi climbs on takeover talk

[topfoto] 17/10/2008 16:30

I picked up a few for much the same reasoning as fft but no way could I have put it so well.Interesting that it should rise at the end of the day.

[wonder boy] 17/10/2008 16:00

Trion deal? What are they gonna do with that $70m otherwise?

[dealy] 17/10/2008 15:40

As I said before if TW go above 29.9% they are forced to make a mandatory offer BUT that offer only has to exceed the highest price paid by them within the last 12 months. That price is just 35p.

That doesn't mean the shareholders would accept 35p but that's all TW have to offer in order to acquire more than 30%.

I personally think they would offer more to get a deal done - probably 60p.

[darrens] 17/10/2008 15:40

fft, absolutely I didn't say I agreed with you ;)

If I was being churlish I'd suggest that TW's judgement of SCi's prospects hasn't exactly been a good barometer in the past (unless you did the opposite).

But always nice to read sensible arguments.

I've gone in a bit on a TRU "punt" but I'm holding off a proper investment until things are a bit clearer as to its prospects.

Yes, I also wondered where on earth those 20m shares have gone.

[fft] 17/10/2008 15:28

Darren,

Thanks for saying its sensible, but that doesnt make it right !

However, the 2 RNS's from Deutsche and RBS this afternoon which i have just seen, show that Deutsche have reduced their holding by 10m shares, and RBS by 9.2m shares.

I wonder where they have gone. Could be some interesting RNS's next week....

[topinfo] 17/10/2008 15:25

Something afoot here.!!!!

[darrens] 17/10/2008 15:22

fft, thanks. All sensible stuff as usual.

[topinfo] 17/10/2008 15:14

50p minumum.!!!

[fft] 17/10/2008 15:13

Darren,

I had thought that TW had probably just lost interest in Sci, and internally at least, had written off the investment. Now, 1m isnt a large amount of money to TW, but, i suspect, these days, you would have to get someone quite high up to sign that off since it is an investment not a working capital requirement etc.

I am not convinced that TW will make a bid - but anything is possible.

However, TRU doesnt seem to be getting that bad a preview, and it seems to me that they would only buy more shares if :

1. They were willing to make a big push on the sales / marketing side to ensure TRU is succcesful.
2. They had seen TRU and thought it was, at least, ok compared to other offerings at christmas.
3. They were convinced it wasnt more money down the drain.

With TW more enthusiastic, it can only be good.

Alternatively, given the state of many companies, there could be a load of other options on the table if you are a player who can bring other companies together. It strikes me that TW, for example, could try and organise a trade sale to someone else.


In summary :-
risk / reward ratio looks better at 20p than it did higher up. I am also curious as to the TW situation. Downside appears to be say 3 or 4p, and upside 10p+

It does seem odd to be buying again after selling out after the eidos merger was announced. never imagined i would see it down at this price....

[darrens] 17/10/2008 15:00

fft, why'd you buy back in?

[fft] 17/10/2008 14:52

having bought back in today a 6 figure number in the low 20's, then i would take 30p. But i guess that most shareholders wouldnt be at all happy with that !

[darrens] 17/10/2008 14:49

dealy, I agree it seems strange but sometimes these things are just what they are without any subtext.

peri, don't want to be facetious but pick a number that you think shareholders would agree to.

[periorellis] 17/10/2008 14:32

i know it is premature but but what sort of price can we expect if a takeover takes place?

[dealy] 17/10/2008 14:04

I would find it strange that TW would give up a board seat (something which gives them influence over both their investment and the US distribution agreement) in exchange for the benefits of increasing their stake by a couple of percent.

The takeover theory carries more weight imo.

[darrens] 17/10/2008 13:12

On the flip side, if you look at the volumes, price action and L2 orders today then it does feel like something is up. Perhaps all those pictures of "live Lara" I posted the other day have hit the fund managers' desks :)

[darrens] 17/10/2008 13:09

Well, TW is listed in the US so it would need to abide by those laws.

I'm sorry I have no details. I've been reliably informed but not reliably educated on this one.

[dealy] 17/10/2008 13:09

Any laws would that would apply would surely be UK laws?

[darrens] 17/10/2008 13:03

Okay, relax everybody, apparently there is some (US I think) legislation which means that TW can't go over 15% without taking their non-exec off the Board.

Nigel, I think this a general rule rather than one specific to the placing but I'm not 100% on that.

It still begs the question of why they bought enough to get them to 16%, rather than sticking under 15% or going way over.

[arc2006] 17/10/2008 12:47

periorellis - 17 Oct'08 - 13:35 - 13828 of 13828

my purchase at 13:15 never showed up....


I don't think mine ever have!

Added again last week, and hoping we can ride up all the way to TR launch. Expecting some more BBC coverage or TR soon as we have seen a couple of early features on the front page of the BBC News website.

[periorellis] 17/10/2008 12:35

my purchase at 13:15 never showed up....

[carver66] 17/10/2008 12:11

Possible - but i prefer the possible bid scenario - all will be revealed pretty soon!!
Level 2 is looking pretty strong at the moment.........