Sportech Share Discussion Threads

[trentendboy] 19/9/2014 08:33

Surprising. Are they seriously not adjustung the price on the back of the VAT result.

[nod] 19/9/2014 01:32

Sportech plc (LON:SPO)'s stock had its "buy" rating restated by investment analysts at Investec in a note issued to investors on Thursday. They currently have a GBX 110 ($1.79) price objective on the stock. Investec's price target would suggest a potential upside of 88.47% from the company's current price.Sportech plc (LON:SPO) opened at 58.00 on Thursday. Sportech plc has a 52 week low of GBX 56.262 and a 52 week high of GBX 93.25. The stock has a 50-day moving average of GBX 80.12 and a 200-day moving average of GBX 84.71. The company's market cap is £118.8 million.

[stephan1946] 18/9/2014 15:07

Henderson global investments have 21%, on my reckoning that means another 47m shares(£28m)and they would be compelled to bid, interesting

[stephan1946] 17/9/2014 06:56

The floor will depend on the amount of sellers in the next few days, the judgement shows how completely corrupt the civil service is today led by a self serving political system; headed by inept ministers, promoted beyond their capabilities.

[nod] 17/9/2014 04:06

Plenty of sympathy in the press today. Not many supporters of HMRC :)

[nod] 16/9/2014 23:10

Henderson hold 21%It will be interesting to see how they react. Were Henderson buying on company fundamentals or on a windfall vat claim?

[nod] 16/9/2014 23:04

A disappointing decision for shareholders.Thankfully this claim is not taking up the time of SPO execs as it is all handled by an outside team. The decision on whether to appeal will be made by this external team who are working on a no-win no-fee basis. If they proceed the cost is borne by the external team rather than SPO. They will once again be weighing up the odds of winning and the cost of proceeding.

[somerset lad] 16/9/2014 22:12

A bid target if the price settles at this afternoon's levels: a nice entry into the US on a PE of c. 13, with the VAT appeal thrown in for free.

[somerset lad] 16/9/2014 22:07

The Upper Tribunal will probably (p > 0.5) refuse permission to appeal, but Court of Appeal will then very probably (p > 0.9) grant in writing after two/three months.

There will then be c. nine months until the oral hearing and a further one/two months until Judgment.

Whichever side loses will try to get permission to appeal to the Supreme Court and will probably fail.

Then it will finally be over.

I think the market misunderstood the importance (none) of the payment by HMRC: someone has to hold the cash until the case is resolved.

It has also misunderstood the importance of today's news: this morning SPO had a very good case to recover the VAT; and this afternoon it still has a very good case; that case will ultimately go to the Court of Appeal which will decide who wins.

[stephan1946] 16/9/2014 16:07

enigma, nice thought, but that would bring us down to the same gutter level as the scum that were bribed to make such a dishonest, long winded judgement. agree with trent of course, an appeal is the way forward, only this time with compound interest.

[trentendboy] 16/9/2014 15:54

Hmmm, very bad news of course and the drop is pretty much as expected. They need to appeal of course but that will just cost even more money. This is after they handed over the money. Disgraceful.

[stephan1946] 16/9/2014 15:38

bottom looks like 48p until appeal is heard and likely SPO will win.

This whole business has treated spo shareholders as a complete irrelervance, government and their cronies are an utter shambles, all in the same trough.

The timescale has been a disgrace to the word, justice. As far as HMRC are concerned, they are thieves, rogues and vagabonds.

[bad robot] 16/9/2014 15:34

repayment of 93M and mcap 113M?

[somerset lad] 16/9/2014 15:30

Whatever the outcome here, the case was always going to go to the Court of Appeal. It makes very little difference whether it goes with SPO as the appellant or HMRC.

[chesty1] 16/9/2014 15:28

ouch that reads very bad......

[pugugly] 16/9/2014 14:58

Anyone got access to the Judgement - Very bad news for holders - Guesses anyone as to the bottom ?

[nod] 14/9/2014 23:44

SPO has invested a lot in new technology over the past year or two and has made a few small acquisitions. They are installing new systems for UK Tote. For a few years now they have reported processing $13 Billion in horse racing bets annually and are hopefully well placed to grow that steadily as the economic climate improves.

[stephan1946] 13/9/2014 08:36

nod, you talk as though Sportec was a normal upfront business. shareholders only chance of a return of any kind lies in the shareprice rising on promises built on sand. This company is bad news.

[nod] 12/9/2014 23:30

In the old days - like just a few years ago - share awards were very transparent both at the time of grant and as liabilities in Annual Reports. A company would award 400,000 shares exercisable at the current market price, in this case say 76p. The incentive for directors is to increase the market value of the company.If the shares are 130p in three years time the director can sell and make 216,000 pounds. S/he has helped to grow the market value of the company and company shareholders are happy.Under free awards, if the share price falls to 54p a director can sell and make 216,000 pounds. Theoretically there are targets attached but these somehow get lost over time as the share price falls, and superseded by new targets. These targets are seldom reported in Annual Reports - so in in two years time nobody knows. How about keeping these award schemes simple and above board rather than complex and underhand.

[miss ann thrope] 05/9/2014 07:50

Great to see they reward the staff again, amazing how freebies now amount to hundreds of thousands of quid, paid for by we holders of course.
As if they don`t get paid for doing what they are supposed to do anyway, snouts and troughs.

[nod] 27/8/2014 22:05

A slide down to one year low. I am tempted to pick up some more at this level. Quite a few companies have taken a hit from the strengthening dollar as they were not hedged. I imagine they will hedge now as it is clearer that the dollar is likely to appreciate over the next year or two. They should convert their windfall to USD asap.

[nod] 21/8/2014 20:12

Group now generates 64% of its revenues from US-based business interests The US growth is the most promising part of the business but as we see it leaves SPO exposed to currency movements and in this reporting period to bad US weather. These things happen and are temporary.

[trentendboy] 21/8/2014 11:18

cue - some digging is always a good idea.

This is really a debt free (hopefully) bet on continued US regulation. We just need to hope the money stays and that being debt free with a lot of net cash will allow rapid US expansion and an eventual takeover.