Share Name Share Symbol Market Type Share ISIN Share Description
Thinksmart Limited LSE:TSL London Ordinary Share AU000XINEAE8 ORD NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 58.00 24,561 08:00:01
Bid Price Offer Price High Price Low Price Open Price
56.00 60.00 60.00 58.00 58.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mobile Telecommunications 8.14 0.53 8.21 7.1 61
Last Trade Time Trade Type Trade Size Trade Price Currency
14:13:06 O 3,500 56.80 GBX

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Thinksmart Daily Update: Thinksmart Limited is listed in the Mobile Telecommunications sector of the London Stock Exchange with ticker TSL. The last closing price for Thinksmart was 58p.
Thinksmart Limited has a 4 week average price of 51.50p and a 12 week average price of 29.50p.
The 1 year high share price is 71p while the 1 year low share price is currently 13p.
There are currently 105,478,744 shares in issue and the average daily traded volume is 427,603 shares. The market capitalisation of Thinksmart Limited is £61,177,671.52.
red ninja: I notice this Oz brokers targets for Afterpay share price :- hxxps:// All AU$ UBS: :28.25 Bell Potter AU$ :121-137 Morgan Stanley : 115 Note, current share price 93.18
red ninja: APT (afterpay) share price fell by 11% in Oz overnight. APT provides TSL with a lot of it's value. APT is doing well, but it has a high some might say very high rating.
bwm2: Tues Apt -4.7% Tsl - 11% Wed Apt +7.8% Tsl -8.9 % Results, Europe sell off Thurs Apt -3.2% 99.7 Aud Apt level on the week after the excellent results and market turbulence. I was interested to read in the results of the "Network effect" driving added profitability and synergies in the mature ANZ market which they expect to benefit all markets. In terms of Tsl there were positive improvements in dynamics to protect/enhance the valuation calculation: Sales 7.3% (2020 year: 5.4%) Customers 10.7% (2020 10.2%) Merchants 1900 2.9% (2020 1100 2.0%) This is against a fast evolving global expansion for Apt. I conclude that Tsl is more than performing to maintain its read through valuation of circa 99p before open of UK market yesterday. I noted the pessimism in the aus Daily Mail saying there could be a 30% fall in Apt) but considered that at 70p on Monday, this was already in the Tsl price. If you are a trader, there will continue to be volatility (and I sold a trade of 50k on friday morning that was only reported late Tues) but if a long term holder of a stock that will excel in covid adversity then continue to hold (as I will) until the option exercised. As always DYOR
carcosa: Whilst there is now an argument that the TSL share price is up with current events it is the future of AfterPay's business that remains the driving force. At time of writing APT share price is up 6%, falling back from 8% earlier in the day following the Q1 Trading Update announcement hTtps:// Headline news is essentially underlying sales in Q1 more than doubled, helped by strong growth in the United States where they added nearly 1 million new customers over three month, with underlying sales there more than tripling to A$1.6 billion ($1.14 billion) from a year earlier. Afterpay now has 11.2 million active customers as of the end of September, 1.3 million more than three months ago. Afterpay is richly valued but given TSL shareholders end game date is 2023 the business appears to be on course and it's up to APT investors to value the company accordingly; given customer growth rate I suspect further share price growth is attainable. Turning to ClearPay: Underlying sales in the UK in Q1 FY21 grew by 346% when compared to Q1 FY20. On a local currency basis underlying sales grew by over 40% compared to Q4 FY20. Active customers increased by 282% with the growth in average frequency per customer outperforming both ANZ and the US So there is some justification to expect significant organic growth in ClearPay too, something that perhaps some investors will overlook. Adding in the Tencent share holding and the financial sense for APT to takeover TSL before 2023 long term holders of TSL should feel comfortable. Short term holders may, however, wish to solidify their recent gains. So something for everyone?
carcosa: AfterPay Share price currently up ~6% at time of writing as a result of this: hTtps:// Which basically says that they are now in the online banking business now that they have a ‘collaboration agreement’ with Westpac Banking Corporation, under which Afterpay said it would soon be able to offer savings accounts and cash flow management tools to its 3.3 million strong Australian user-base. This, following on from the recent finalisation of AUSTRAC external audit which essentially gave them the stamp of approval in complying with anti-money laundering and Counter-Terrorism Financing explains why the share price has increased significantly over recent days. Now at A$103. kadvfn1: I think ST just made a small oversight wrt cash payment. FarnesBarnes: The valuation ST uses is the same as the company calculates, comprising a discount of 20% for the lack of marketability of Clearpay as a privately owned company. Reducing the discount to 10% would increase the fair value by ~£7m. The argument for reducing that 20% discount centres on the mix of revenue and users. Experience shows that as time progresses users increase their sale value as they become more comfortable using the service. Last reported UK market represented 5.4% of underlying sales but 10% of active customers for Afterpay. As the relationship between maturity of customer base and underlying sales changes the discount should tend to unwind. As the Group has limited control over the setting of the price that it will receive for the transfer of the ESOP shares to the Clearpay employees, the Group has further discounted the valuation by 35% Bottom line is that TSL share price is dictated by Afterpay share price, which is very rich price at the moment, but the discounts currently applied to the TSL valuation of their shareholding in Clearpay provide a large element of comfort. However it is not until 2023 will we all know what the actual price will be. Given the fact that AfterPay can buy out the holding for chump change and the fact that the longer they wait the more it is going to cost them, assuming ClearPay continues to deliver the high growth rates, then there will be compelling logic for Afterpay to buy out ThinkSmart’s 10% equity stake far earlier than August 2023.
1jbrisky: Gotta love ST. Have been wondering how long TSL & the Afterpay share prices can stay so disconnected. Very useful tick up.
tomps2: TSL a David Thornton pick in yesterday's piworld interview (was live 1-2pm & video published at 8.30am today, not sure if that had an influence on share price moves). Hear what he had to say at 19m15s: video: Https:// podcast: Https:// Next week on piworld, Thursday 22.10.20, 1pm, we have a Superstar interview with one of the two most popular interview guests, Andy Brough, Schroders, Head of UK & EU mid and small cap team, & Richard Leonard, from a Family Office. Register here: Https://
carcosa: Well today is a good example. At time of writing share price has increased on the day that the share buy back price was announced. So you have 'seen' it's effect already. Come the actual date in November the share price may, or may not, increase by ~2.5p. A reduction in the share capital does not often result in a direct correlation to the share price, unlike a dividend which is real cash existing the company. i.e. on the ex dividend date the share price decreases by the amount of the dividend. Share buybacks are generally good for one thing only (and even then, that is debatable) and that is to increase the EPS; which tends to favour share option incentive plans.. which often lead to more shares being issued. I have not looked at the share options TSL has because it is the overall discount to APT share price that is the reason i am invested here. It is often said that share buy backs are a tool used by management when they have no idea what to do with the cash. i.e. a lack of imagination. In theory... we 'should' see a substantially greater effect on the share price than simply the value of the reduction in the share capital. Reason being that if you assume the share price is driven by the discount to the APT share price then, for sake of argument, assuming we are at a 100% discount to the intrinsic value the company is buying back double the value of the share buy back for half the cost. So rather than theoretically seeing 2.5p share rise we should see 5.0p increase. But... we won't as the share price rarely reacts to a capital reduction in a logical sense; unlike dividends. It will however, assist long term shareholders over a period of time.
bwm2: After recent rise in APT to AUS$ 84.9, TSL is now back to 74p current equivalent value. Goldman Sachs 12month tgt for APT is AUS$ 93.45 which implies TSL 80.2p. No impact on TSL share price yesterday despite almost all buys. ps £ has fallen 2.9% in the last 30 days DYOR
boystown: I've just read it - and on the surface of things, it would seem to be remarkably good value??? Here it is until it gets taken down: Exploit ThinkSmart’s valuation anomaly Shares in Afterpay Touch (APT:ASX), a A$14bn (£7.7bn) market capitalisation Australian Stock Exchange-listed technology group have now doubled in value since I published my April 2020 Alpha Report on Aim-traded finance company ThinkSmart (TSL:19.5p). That’s important because Afterpay is part owner with ThinkSmart of ‘ClearPay̵7;, a UK payment platform that enables consumers to split the cost of their retail purchases into more manageable interest-free payments. The Australian group has already successfully developed and rolled out an interest-free point-of-sale retail consumer brand ‘Pay Later’ in Australia, New Zealand and latterly, North America. Indeed, a bullish trading update from Afterpay on its US operations has been the latest catalyst for the recent surge in the stock price. It’s not the only one as Afterpay was included in the MSCI Australia index at the end of May, so tracker funds have been investing. Another reason for the re-rating is that technology giant Tencent (700:HK) has built up a 5 per cent stake in Afterpay. Tencent is a HK$4.1 trillion (£435bn) market capitalisation company listed on the Hong Kong Stock Exchange and one that processes 1bn payment transactions every day. The point is that the re-rating of Afterpay has very positive implications on the conservative valuation of ThinkSmart’s 10 per cent stake in Clearpay. That’s because Afterpay has a call option (exercisable from 23 August 2023) to buy ThinkSmart’s 10 per cent holding. ThinkSmart has a put option (exercisable from 23 February 2024) to sell its stake to Afterpay, too. The price is calculated on agreed valuation principles that were used in determining the carrying value of the stake in ThinkSmart’s accounts. One of the principles is the market capitalisation of Afterpay, and that is now 100 per cent higher than when I suggested buying shares in ThinkSmart seven weeks ago. However, the Aim-traded company’s share price has risen ‘only’ 35 per cent in the same period to give it a market capitalisation of £20.7m, of which £7.6m (7.1p) is backed by net cash. Strip out £5m (4.7p) of other net assets embedded in ThinkSmart’s last reported net asset value of £29m (27.3p), and the Clearpay stake is in the price for £8.1m, or half its £16.4m (15.5p) carrying value. Moreover, that valuation was based on the Afterpay stock price of A$29.75 at 31 December 2019, rather than the A$51.16 current price. In other words, when ThinkSmart’s stake in Clearpay is revalued at the June 2020 year-end, it should be worth than the company’s own market value of £20.7m, thus leaving £12.6m (11.8p a share) of cash and other assets in the price for free. Furthermore, it’s not inconceivable that the Australian group may attempt to buy out ThinkSmart’s residual holding in Clearpay well before the call option becomes exercisable in August 2023. My sum-of-the-parts valuation of 35p a share doesn’t factor in this possibility. Offering 80 per cent potential upside, the shares rate a strong buy.
Thinksmart share price data is direct from the London Stock Exchange
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