Sportech Share Discussion Threads

[nod] 13/3/2017 20:33

TEB, we have a few days to decide and to see what the share price does between now and the 20th. I'm thinking it's best to hold.If they scale back PIs could be left with a small number of shares, which they then have to pay broker fees to sell. Investec has not explained how any scale back will be done.I doubt that the uptake will breach 20 million in which case there will be no scale back - but we don't know. It may depend on the share price this week.

[nod] 13/3/2017 20:06

VZ, the RNS dated 10 March gives the timetable.I would not think this offer is attractive to insti holders, so you may be correct that it's targeted at PIs who may be tempted to sell their small holding and avoid the dealing fee. However, after scaling, they could be left with a few shares and incur the dealing fee to dispose of them. Is there a commitment by SPO to take 100% of shares on holdings below a threshold, say 10,000 shares?Closing Date - latest time 1.00 p.m. on 20 and date for receipt of Tender March 2017 Forms and settlement of TTE instruction(s) from CREST Record Date for Tender Offer 5.00 p.m. on 20 March 2017 Result of Tender Offer announced 21 March 2017 CREST accounts credited with by 28 March 2017 Tender Offer consideration and any unsold uncertificated Shares Despatch of cheques for Tender by 28 March 2017 Offer consideration in respect of certificated Shares sold under the Tender Offer and any balance certificates in respect of any unsold

[van zandt] 13/3/2017 17:18

Hi all,
What is the timetable for the tender/buyback? I have not received the documents yet.
Now as I currently understand it ‘no I am not a doubter, ME! But it would appear the ‘offer’ could be aimed at the small investor, with some 206M plus shares issued some 80% held by major holders.
Total of substantial shareholdings 164,547,339 79.8%
I also see that the directors are only offering a very small percentage of their holding, I find that odd.
I also find a little ‘odd’ should I say the price/premium is very tight to none existent even allowing for no selling and tax costs
A look at the current forecast 12 month price targets for Sportech plc have a median target of 131.50, with a high estimate of 140.00 and a low estimate of 123.00.
Am I correct in understanding if I offer all my shares and the tender is over subscribed I may end-up getting rid of only a small percentage of my holding?
As always kindness and advice awaited.
Regards, Van Zandt.

[trentendboy] 13/3/2017 09:36

Nice. Nod, you selling any in the buyback?Tempted to hold the lot.Any US regulation will see big action

[nod] 13/3/2017 08:59

Peel Hunt has reiterated its price target of 140p

[nod] 10/3/2017 22:37

SPO is the only red on my watch list. The tender offer will likely keep us in a tight range during March.

[trentendboy] 10/3/2017 07:54

Tax efficient, no dealing costs also share price unlikely to go much above the price tender offer is for

[o1dsmokie] 10/3/2017 07:12

I may be a little dim, but why would you want to sell your shares to the company rather than on the open market which presumably will reflect the offered share price anyway?

[makinbuks] 06/3/2017 14:51

Nod, I think the return of capital is straightforward. The board holds a mandate to purchase the companies shares already and will use that mandate to offer to buy back directly £20m worth from existing holders. Just a variation on the share buy back concept making the offer direct to shareholders rather than in the open market.

Regarding the value of the pools business and what they will do with those proceeds in the fullness of time I completely agree with you. They seem determined to sell the business at almost any price having obviously made the decision in principle some time back

[makinbuks] 02/3/2017 11:05

Congratulations to all the long term holders. I sold some time back at a profit but could have done a lot better by holding

[makinbuks] 02/3/2017 11:04

If there are 200m shares and they distribute another £80m or 40p is the remaining business really worth more than 50p or £100m?? Not for me. Am I missing something?

[makinbuks] 02/3/2017 10:44

Then the next question is what will they do with the £83m proceeds from the Pools? I assume there's no tax bill attached to that?

[makinbuks] 02/3/2017 10:41

Nod, Its not a share buyback its a tender offer. Do you think £20m will be taken up?

[o1dsmokie] 02/3/2017 09:42

200m shares in issue with £20m payback , that`s er,. thats er, x=y , z+n . erm. ;looks like 10p a share?

[nod] 02/3/2017 08:37

The share buyback is a cheaper way to distribute cash to shareholders. I'm comfortable with that. I think we'll see 110p soon.I will need time to digest all this. More news than expected.

[finkie] 02/3/2017 08:25

I'm in France hungover so no punctuation today! 😉

[finkie] 02/3/2017 08:25

Wow what a set of results like Christmas coming selling pools here's some cash back results much better and it's 106p to buy!!! Excellent

[nod] 02/3/2017 00:57

ReminderSportech PLC, one of the world's leading pool betting operators and technology suppliers, will announce its Preliminary Results for the year ended 31 December 2016 on Thursday 2 March 2017.I'm hoping we'll see a benefit from the fall in GBP.

[trentendboy] 20/2/2017 23:46

So near to the big 100

[nod] 20/2/2017 21:22

Preliminary Results for the year ended 31 December 2016 on Thursday 2 March 2017.SPO should have benefited from the weaker pound at 31 December.

[nod] 20/2/2017 21:16

Comfortably through the 3-year high and climbing inch by inch towards the magic 100pThe 5-year High is not much higher at around 114p from memory.

[trentendboy] 09/2/2017 17:46

Slowly slowly towards a quidA nice position.Special divi surely

[nod] 07/2/2017 06:54

Valentine eyes spring opening for latest Stamford sports barBy Paul SchottUpdated 7:16 pm, Monday, February 6, 2017The new establishment represents a partnership between Valentine and the New Haven-based Sportech Venues, which is the state's sole off-track betting licensee. In Windsor Locks, next to Bradley International Airport, Valentine and Sportech jointly manage another establishment of the same name that features off-track betting.Valentine founded The Original Bobby V's Sports Bar on Main Street, a few blocks away from the Atlantic Street enterprise."This is like Bobby V's on steroids - bigger, better, newer, nicer and hopefully just as welcoming," Valentine said.http://www.ctpost.com/business/article/Valentine-eyes-spring-opening-for-latest-Stamford-10911994.php

[trentendboy] 05/2/2017 22:41

The one pound level gets closer.Trump US loves a gambleAlmost tempted to buy more. Corporate action cannot be far away