Toople Share Discussion Threads

[jungmana] 04/6/2019 11:18

Board resignations? Just the CEO resigned and she made it clear is for personal reasons. An even better CEO has taken over.I hold both here and bbsn

[top tips] 04/6/2019 11:16

Jungmana I was into bbsn for the recent big rise and exited at a profit. Why the subsequent CEO resignation?

[tewkesbury] 03/6/2019 15:00

He also bought another 907,604 shares !!

[bryall2] 03/6/2019 14:49

Yes, todays’ notification is as a result of the recently placed shares, which reduces his percentage stake.

[tewkesbury] 03/6/2019 13:35

Steve Davis has increased his holding in Toop since last year. Adjusted for the Placing:

Previously = 31,992,368 shares (3.35%) (Annual Report 2018, pg 14)

Today = 32,899,972 shares (2.88%) (TR-1, 3/6/2019)

Change = +907,604 shares

[top tips] 03/6/2019 11:23

Great to see the bidding war for KCom reach new heights today. Andy Hollingsworth referred to the takeover in his last interview and has mentioned them in several presentations. Good for KCom, Toop and the sector.

[12bn] 03/6/2019 11:22

Todays RNS.///////RNS Number : 9290A

Toople PLC

03 June 2019

TR-1: Standard form for notification of major holdings


NOTIFICATION OF MAJOR HOLDINGS (to be sent to the relevant issuer and
to the FCA in Microsoft Word format if possible)(i)

1a. Identity of the issuer or the Toople plc
underlying issuer of existing shares
to which voting rights are attached(ii)
:
--------------------------------------------
1b. Please indicate if the issuer is a non-UK issuer (please mark with
an "X" if appropriate)
Non-UK issuer
----
2. Reason for the notification (please mark the appropriate box or boxes
with an "X")
An acquisition or disposal of voting rights
----
An acquisition or disposal of financial instruments
----
An event changing the breakdown of voting rights X
----
Other (please specify)(iii) :
----
3. Details of person subject to the notification obligation(iv)
Name Stephen Davis
City and country of registered office
(if applicable)
4. Full name of shareholder(s) (if different from 3.)(v)
Name
--------------------------------------------
City and country of registered office
(if applicable)
--------------------------------------------
5. Date on which the threshold was 03 June 2019
crossed or reached(vi) :
--------------------------------------------
6. Date on which issuer notified (DD/MM/YYYY): 03 June 2019
--------------------------------------------
7. Total positions of person(s) subject to the notification obligation
% of voting % of voting rights Total of both Total number
rights attached through financial in % (8.A + of voting rights
to shares (total instruments 8.B) of issuer(vii)
of 8. A) (total of 8.B
1 + 8.B 2)
------------------ --------------------- -------------- --------------------
Resulting situation
on the date
on which threshold
was crossed
or reached 2.88% 2.88% 1,143,589,455
------------------ --------------------- -------------- --------------------
Position of
previous notification
(if
applicable) 3.35% 3.35%
------------------ --------------------- -------------- --------------------



8. Notified details of the resulting situation on the date on which the
threshold was crossed or reached(viii)
A: Voting rights attached to shares
Class/type of Number of voting rights(ix) % of voting rights
shares
ISIN code (if
possible)
Direct Indirect Direct Indirect
(Art 9 of Directive (Art 10 of Directive (Art 9 of Directive (Art 10 of Directive
2004/109/EC) 2004/109/EC) 2004/109/EC) (DTR5.1) 2004/109/EC)
(DTR5.1) (DTR5.2.1) (DTR5.2.1)
-----------------------------
32,899,972 2.88%
------------------------ ----------------------------- ------------------------- ---------------------


SUBTOTAL 8. A 32,899,972 2.88%
------------------------------------------------------- ------------------------------------------------

B 1: Financial Instruments according to Art. 13(1)(a) of Directive 2004/109/EC
(DTR5.3.1.1 (a))
Type of Expiration Exercise/ Number of voting % of voting
financial date(x) Conversion Period(xi) rights that may rights
instrument be acquired if
the instrument
is
exercised/converted.
----------- ----------------------------------- -------------------------------- ---------------------



SUBTOTAL 8. B 1
----------------------------------- -------------------------------- ---------------------

B 2: Financial Instruments with similar economic effect according to
Art. 13(1)(b) of Directive 2004/109/EC (DTR5.3.1.1 (b))
Type of Expiration Exercise/ Physical or Number of % of voting
financial date(x) Conversion cash voting rights rights
instrument Period (xi) settlement(xii)
---------------- ---------------------- ----------------------- --------------------



SUBTOTAL 8.B.2
----------------------- --------------------




9. Information in relation to the person subject to the notification
obligation (please mark the
applicable box with an "X")
Person subject to the notification obligation is not controlled x
by any natural person or legal entity and does not control any other
undertaking(s) holding directly or indirectly an interest in the
(underlying) issuer(xiii)
Full chain of controlled undertakings through which the voting rights
and/or the
financial instruments are effectively held starting with the ultimate
controlling natural person or legal entity(xiv) (please add additional
rows as necessary)
Name(xv) % of voting rights % of voting rights Total of both if
if it equals or through financial it equals or is
is higher than the instruments if it higher than the
notifiable threshold equals or is higher notifiable threshold
than the notifiable
threshold
---------------------- --------------------- ------------------------






10. In case of proxy voting, please identify:
Name of the proxy holder
-----------------------------------------------
The number and % of voting rights
held
-----------------------------------------------
The date until which the voting rights
will be held
-----------------------------------------------

11. Additional information(xvi)




Place of completion Brighton
Date of completion 03 June 2019
-------------

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

[tewkesbury] 03/6/2019 10:06

Good work hottingup.

[hottingup] 03/6/2019 09:34

Updated forward valuation figures for TOOP taking into account the increased takeover offer for KCOM announced today:



Market Comparisons (Based on 1.143bn shares post Placing 28/5/2019)

TOOP's CEO stated (H2 2018) he aims to get at least 5% (250,000 customers) of the UK SME market within 5 years (by 2023), modified (22/3/2019 Interview) to 5% within 3 to 5 years (2021 - 2023).

-- Daisy Group had 7% (360,000 customers) of the UK SME market, plus debt, and in 2018 turned down an all cash takeover offer from a private equity company for £1.6 billion, implying:

- TOOP with 5% or 250,000 customers = 25/36 x £1.6bn = £1.11bn = 97.2p

- TOOP with 1% or 50,000 customers = 5/36 x £1.6bn = £222m = 19.4p

- TOOP with 0.5% or 25,000 customers = 2.5/36 x £1.6bn = £111m = 9.71p

- TOOP market cap increase £222m & share price rises 19.4p, for every 1% of the market it takes.




-- KCOM had 5% of the UK SME market and accepted an all cash takeover offer of £563m (49% premium to previous days closing price) on 3/6/2019, implying:

- TOOP with 5% or 250,000 customers = £563m, + 19.18% * = £671m = 58.7p

- TOOP with 1% or 50,000 customers = £112.6m, + 19.18% * = £134.2m = 11.7p

- TOOP with 0.5% or 25,000 customers = £56.3m, + 19.18% * = £67.1m = 5.87p

- TOOP market cap increase £134.29m and share price rises 11.74p, for every 1% of the market it takes.



* KCOM had £108m net debt, so if you add that to the takeover figure of £563m, KCOM's true takeover valuation was £671m, i.e. the buyer would have paid £108m (19.18%) more had there been zero debt; thus one should increase the valuations for TOOP based on KCOM as the comparitor (above) by 19.18%.


-- Daisy and KCOM figures compared to give valuation ranges (adjusted for KCOM's debt):

- TOOP with 5% or 250,000 customers = £671m to £1.11bn = 58.7p to 97.2p

- TOOP with 1% or 50,000 customers = £134.2m to £222m = 11.7p to 19.4p

- TOOP with 0.5% or 25,000 customers = £67.1m to £111m = 5.87p to 9.71p

- TOOP market cap increase £134.2m to £222m, and share price rises 11.7p to 19.4p, for every 1% of the market it takes.


-- Conclusion: TOOP share price target on 5% = 58.7p to 97.2p

(N.B. Suggested MCap / No Shares = Share price)

[city chappy] 03/6/2019 08:07

KCom got and even higher offer of £563m from Mira, than the previous £504m offer. Another 11.7%!Increases the forward looking valuation for Toop by even more.

[ricatcoatham] 03/6/2019 08:04

I wonder how the new offer for Kcom will affect toop

[trjones2] 03/6/2019 08:01

kcom deal off

[2mex] 02/6/2019 17:38

chestnuts, I will see if anyone replies. They have their plans and are doing a great job. Just seems like a good idea to get free brand awareness from positioning at supermarket checkouts. They could advertise broadband contracts on the SIM packaging.

[chestnuts] 02/6/2019 16:27

2mex

I prefer Aldi and Lidl right customer base

[tewkesbury] 02/6/2019 15:11

cc, for the present I think its best for Toop to offer SIMM only deals with one or two year contracts, as they are doing, rather than PAYG. The former probably gives them better margins and revenue visibility going forward, and enables them to establish more of a relationship with clients for them to offer add-ons, etc. For many businesses, a SIMM card might also be only one component of an overall package from Toop.

I agree that 4p to 7p this year looks about right on the projected customer numbers from 2mex.

[2mex] 02/6/2019 13:59

Emailed them. It would be a great development for Toople.

[2mex] 02/6/2019 12:22

City Chappy,

Toople simm cards in ASDA is a brilliant idea. Not only would it increase Retail but every customer walking through the checkout would be presented with an advert for Toople: building brand awareness. Its a free advertising platform which could also mention broadband / other services.

I will contact Toople about it. I suggest everyone does to get the message across...Toople simm cards in ALL supermarkets.

[2mex] 02/6/2019 12:00

City Chappy, considering the weight put into other companies based on potential, your figures are not unreasonable.

"... the opportunity for Toople is massive. We have built Toople on the next generation platform...we are well placed to take advantage of that market." Andy Hollingworth, CEO

[city chappy] 02/6/2019 11:53

That's great, thanks. So Toop should be at least 4p to 7p this year, or more if you take a longer forward view.

[2mex] 02/6/2019 11:52

On the other side of the coin, I would also like to see more big wholesale contracts coming in. I believe this is where Toople currently have their main opportunity to grab market share in the disruption from BT legacy switch over. There will be large estates planned in for upgrades. Andy has a lot of contacts from his time at TalkTalk and as evidenced the contacts go back long before his time with TalkTalk.

[2mex] 02/6/2019 11:48

I am looking forward to June, July figures for retail where we should see another step change in Retail uptake. This is great for building the brand and getting higher margin.

[2mex] 02/6/2019 11:35

City Chappy

Another key detail is that Toople's customer base is growing rapidly. The bigger companies simply cannot multiply in size like Toople can. They can increase their customer base partially but Toople can grow in multiples.

So for valuation, the potential of Toople should be factored in.

[2mex] 02/6/2019 11:29

NOTE these figures are "number of customers".

The "number of orders" is much higher than this because existing customers are placing more orders.

- a clear indication that customers are happy with Toople and want more services: a far better indicator of Toople customer satisfaction than any review site.