Sci Entertainment Share Discussion Threads

[yellow_snow] 27/10/2008 08:10

RNS does seem to add some meat to the bid speculation, could just be TW averaging down to a certain extent but it all helps.

[periorellis] 27/10/2008 08:07

So TW can now buy up to 30% of the shares until 25/Jan/2009. So I guess they may accumulate 30% f the shares and bid ?

[life of crime] 27/10/2008 08:06

I thought all of Tchenguiz's (Thorson's) CFDs had already been picked by existing shareholders so there was no overhang?

I think today's statement does indicate TW are in the market for more shares, but that is dependent on anyone wanting to sell them a significant chunk at these silly prices, unless Tchenguiz is being forced to dump his remaining 10%.

[togglebrush] 27/10/2008 07:51

Statement re Warner Bros "standstill" agreement (Sci Entertainment) seems to be an attempt to clear a large market over hang where there is a willing buyer who was potentially restricted.

Problem

Thorson Investments Ltd and associated vehicles also had a long economic interest held through contracts for difference over 32,778,106 shares (12.44%) of the shares

Recent RNS since 26 Sept with latest position by major shareholder

14 Oct 08 ABN AMRO Bank N.V.(RBS)__was 12,940,317 now 2,920,000
15 Oct 08 Deutsche Bank AG_________was 18,474,243 now 9,270,054

The above two seem to have been the background to Thorson Investments CFD's

Overhang

Part has been taken up

14 Oct 08 Cazenove Capital Management Limited was 12,515,783 now 15,515,783
16 Oct Time Warner Entertainment Ltd was 37,518,080 now 42,518,080

Of the 32.778 million Thorsen shares

ABN AMRO Bank N.V.(RBS)__2,920,000
Deutsche Bank AG_________9,270,054
Cazenove Capital_________3,000,000
Time Warner_____________ 5,000,000

Balance is 12.668 million shares in the market

The Clearance

Time Warner may acquire
A) the overhang in the market and get 55.186 million or 20.93%
B) then add on the remaining Bank shares get 67.376 million 25.56%

They remain below the 29.9% limit and overhang is cleared which means the share price may begin to rise again! But we have a much larger main shareholder.

[eric76] 27/10/2008 07:31

Good to see the new management put business (and shareholder value) first. So TW can now buy up to 30%. Isn't that what they need to bid?

[dealy] 27/10/2008 07:25

I think they have a duty to all shareholders to see the share price increase or achieve some sensible level. In that respect the board is obliged to consider all steps that encourage an increase the share price. In actual fact, anybody is normally able to buy up to 30% of a company. They are just removing a restriction which didn't make sense in the first place.

[periorellis] 27/10/2008 07:21

So SCI entertainment agree that despite the previous agreement (under the previous management) will allow TW to buy up to 30% of their shares. Hmm this is like saying com and buy us no? This is how I interpret it.

Interesting development. Let's se what happens.

[the crypt] 26/10/2008 09:13

hey guys I just did a bottom burp!! YUK

[the crypt] 25/10/2008 12:15

Hey guys smell my cheesey feet!!!!!!!!! Golly gosh, what a whiff!

[life of crime] 25/10/2008 12:05

It's good to see the new management at AoC are getting to grips with the title in the same way that BGS are trying to revive CM. I still think both titles could be important to Eidos if the new managers can turn things around:

[the crypt] 25/10/2008 06:03

you guys are real revellers, jeezzee!!!

[bethany3] 24/10/2008 20:47

eric76.....you are right - previous management overpriced the company even when there were delays in the bringing the popular games out in time for last X'mas. Before open offer Infogrammes' indicative offer of between 90-120p was turned down because there were too many conditions attached and too disruptive as SEG was in the process of restructuring and refinancing. And now SEG are in a much better position ie with games coming onto the market in time for X'mas.

[eric76] 24/10/2008 19:35

I read that Kavanah (sp?) always wanted too much for the co. thats why the bids failed before and why they lost their broker. We've had a dismal year for stocks too which can't have helped work out a fair price. Gotta say I've no idea how true these rumours are but there do seem very explainable reasons for it to have taken so long to happen.

[bethany3] 24/10/2008 18:24

Missed the opportunity to top up today - monday perhaps unless weekend springs a pleasant surprise. Last trade of 100K at 19.5p is positive for monday if Dow Jones doesn't tank. Rumours in the city that TW was after more shares could only be good news and that should support the price. Been over six months SEG not at the receiving end of a bid - with two resignations in as many months something is definition brewing.

[rawli] 24/10/2008 17:32

Back in today with a few buys throughout the day around the 18p mark.

Will have to start going shopping again !!!LOL

All the best

Andy

[togglebrush] 24/10/2008 15:33

Ex Annual Report 2008

Substantial shareholdings

On 26 September 2008 the Company had been notified of the
following interests in the ordinary share capital of the Company:

______________________________________Number_____ %
Time Warner Entertainment Ltd________ 37,518,080 14.23
Thorson Investments Ltd*_____________ 25,335,804 9.61
Deutsche Bank AG_____________________ 23,841,568 9.05
Cazenove Capital Management Ltd______ 12,515,783 4.75
ING Bank NV__________________________ 11,454,648 4.35
Legal & General Investment Management 10,089,628 3.83
Pioneer Investments____________________9,148,355 3.47

In addition to holding ordinary shares, Thorson Investments Ltd and associated vehicles also have a long economic interest held through contracts for difference over 32,778,106 shares (12.44%) of the Company. (as we know this has since changed)

As at 26 September 2008

There were also 3,894 individual shareholders owning 4.5% shares
638 Institutions and Companies owned 95.5% of shares

[eric76] 24/10/2008 15:12

Fair enough I can see why you'd feel like that after this week. To be fair the market isn't helping much perhaps next week will be better for all.

[togglebrush] 24/10/2008 14:54

Full Annual report 2007/8 is downloadable in PDF format from Co web site

Interim Statement expected in November

[periorellis] 24/10/2008 14:54

yes it was the previous management but no bids have materialised yet, and the new management has been in place more than 6 months now right? the UBIsoft bid is totally manufactured, there is no evidence to support it whatsoever. As for the TW bid the resinging was intriguing especially coinciding with the increase in stock %

we'll see....it is demoralising seeing it going down by that much...every single day this week has been red...!

[eric76] 24/10/2008 14:36

That was the previous management though wasn't it? They thought they were gods gift to the gaming sector so wouldn't sell out. Might be a bit different with them gone as can be seen with these 2 possible bids and I must say having 2 directors resign due to conflict of interests is quite intriguing to say the least.

[periorellis] 24/10/2008 14:28

companies have been trying to buy seg for a long time now and it never came to fruition...i dont see it coming any time soon...i'd be surprised if there was an offer now...i do hope this is the case but it doesnt seem very probable.. there have been rumors since 2003..

[fft] 24/10/2008 13:36

This is a fascinating performance by Sci this afternoon given the chaos elsewhere (HSBC down 15% !!). The 3 large buy orders seem to put a floor on the price. But more than that, the price hasnt just stabilized, but actually gives the impression it could end the day unchanged. That is such a strong performance that i am very very surprised.

[eric76] 24/10/2008 10:51

Speculation mounts on Warner Bros acquisition of SCi

Speculation is mounting that Warner Bros is poised to launch an acquisition bid for UK publisher SCi, following a number of board member movements and share dealings.

According to sources, Warner Bros has been eyeing up another acquisition for some time following last year's purchase of Traveller's Tales and has now decided that SCi is the right candidate.

Earlier this month two non-executive board members - firstly Robert Tchenguiz' representative Aaron Brown, and then Warner Bros Home Entertainment Group president Kevin Tsujihara - resigned from their posts, clearing the way for a possible bid.

Warner Bros also recently increased its shareholding in SCi by 5 million shares to take a 16.1 per cent stake in the publisher, which has seen its share price drop from a high last year of GBP 5.20 to a current price of just 21.25 pence.

Earlier this year the former management team of Jane Cavanagh and Bill Ennis stepped down after several months of takeover negotiations failed to result in a deal.

Since then Phil Rogers has taken the reins and instigated a restructure of the company, focusing on a studio-led shape to the business.

[eric76] 24/10/2008 10:49

Dunno about 10p periorellis there seems to be too many co's wanting to buy seg outright for that to happen.

[dope007] 24/10/2008 10:43

back to SEG but the move of LittleBigPlanet is unbelievebly bad news for Tomb Raider. Add in COD5 as mentioned above and it doesn't bode well. I hope for holders TRU is an unbelievably good game but I fear it will be more of the same and nothing new for press and gamers to latch onto.