Wameja Share Discussion Threads

[tomv33] 01/4/2021 14:47

I bought tremor a month ago (not the exact date or time ) and I'm up above 40...

[cornishman33] 01/4/2021 14:20

Not likely to get the 8p any time soon. On the other hand, as smithless points out, a good 33% to be had if prepared to take the risk.

[ali47fish] 31/3/2021 16:56

there is an rns at 16.15 this afternoon
Full Year aidited Accounts


dont know what tomake of it - will welcome comments

[smithless] 30/3/2021 14:44

Tomv33 not sure about that. Potentially 33% return if very patient. Picked some up yesterday and today at under 6p.

[tomv33] 24/3/2021 09:30

Not really worth holding for 8p unless you have a holding of about a million +

[daveme] 23/3/2021 17:56

smithless, my understanding is that eservglobal's third party software supplier doesn't suddenly have issues. According to the Preliminary Final Report RNS (26/02/2021):-

At the date of this preliminary financial report, the directors consider there to be no present obligation or material exposure under the Indemnity on the basis that:
-- there has been no claim by the third-party software supplier against eServGlobal or Seamless arising from the non - renewal of licences, or any other matter,

i.e. it is not the third-party software provider that is complaining.

[smithless] 23/3/2021 13:35

Tabhair - I agree with your observations. I usually look at such situations with an open mind ie no smoke without fire. I have looked over the recent released accounts of Seamless and it mentions nothing of the issued with Wameja. Seamless is a small company and if it was material it would be mentioned. So why the delay with the audit by Wameja? The problem may be Seamless hasn't said why in detail what its claim is and without detail Wameja can't complete. It's strange why eservglobal's third party software supplier should suddenly have issues, as its been part of its mobile payment package for years without problems. IMHO either Seamless have done something and are trying to blame Wameja or a warranty claim for an ex employee of eservglobal which is suing Seamless (rebuffed by Warmeja and has no merit) has angered them to do this and delay the takeover to get compensation. The management of Wameja have nothing to gain by delaying, as all options etc were cancelled as part of the Mastercard takeover terms. Not without risk obviously, but this deal is important to Mastercard, as Homesend is an important part of its Fintech project, so still expect the deal to be done. Also the fact Richard Griffiths has £6m riding on this gives me comfort, as he not an idiot (hopefully)

[tabhair] 23/3/2021 11:43

The claim initiated by Seamless could just be a shakedown to try and slow down the sale of Wameja to Mastercard in a cynical ploy to try and extort some extra cash.

The other alternative is that Wameja management themselves are on a go-slow and are allowing this deal to drag out in order to trigger some sort of payments to themselves.

I don't see how this claim can possibly be material. The ESG core business was sold for 2M Euro, their revenues were 7M EUR a year. Given Wameja is being sold for 97M, if Seamless were successful in their claim, the amount is going to be very small. Instead of shareholders getting 8p, perhaps we only get 7.8-7.9p after the cost of the claim is taken out.

[masurenguy] 19/3/2021 09:01

Well why doesn't MC just complete the Wameja deal if the the potential claim is just a "pittance" ?

[smithless] 19/3/2021 08:27

That's what Wameja management stated in its prelims as of 31 Dec 2020 announced 26 Feb 2021 and the language used in its recent updates hasn't changed ie no change from 31 Dec. Against Mastercard £97m offer for WJA, the potential claim by Seamless, whatever it is, is a pittance. If you go onto the IR website for Seamless, it has changed the software Botswana Telecoms used when it bought the client list off eservglobal to its own ERS 360 solution. Quote from Seamless CEO 30/9/2020 on the back of Botswana order. The order comes from one of the customers at eServGlobal and is a testament to the trust the customer has in us when they go from an older platform to our flagship product, ERS 360 °. The migration enables the operator to improve its operational performance," says Tommy Eriksson, CEO of SDS. I think Wameja is being mucked around, for what purpose i have no idea.

[johnv] 18/3/2021 19:45

So your saying That Seamless has not even said the reason for their claim?.

[middlesboroughfc] 18/3/2021 14:11

Bid may fail and in which case administration will come

Be cheaper for Mastercard to buy off administrators with no liability

[victor2] 18/3/2021 11:31

Forget my previous comment above was looking at Woodbois
which is next to wamega on my monitor.[IDIOT]

[smithless] 18/3/2021 09:35

Difficult to do the audit when Seamless has 'not particularised the basis upon which it believes that there is a potential claim under the Indemnity'. As said, frustrating and I'm sure Wameja management have through its lawyers have given them a time period to state the potential claim or stop the claim.
Taken from 26 Feb 2021 RNS prelims re Seamless potential claim.

At the date of this preliminary financial report, the directors consider there to be no present obligation or material exposure under the Indemnity on the basis that:



· there has been no claim by the third-party software supplier against eServGlobal or Seamless arising from the non - renewal of licences, or any other matter, and



· Seamless has not particularised the basis upon which it believes that there is a potential claim under the Indemnity.

[victor2] 18/3/2021 09:25

Id like to know who sold all those millions yesterday there should
be a stewards inquiry.

[tomv33] 18/3/2021 08:55

At this rate we should buy more

[smithless] 18/3/2021 07:59

How frustrating. The sale of the business to Seamless was only for a total consideration of 2m euros!! If you read Seamless reports and accounts they have made great claims about the returns it has made from eServGlobal clients that came with the acquisition. The whole potential indemnity claim, if it has any substance, must only come to a couple of 100,000 euro's!!! The wait continues.

[dr biotech] 18/3/2021 07:27

Taking their time, not sure how long an audit should last. Business seems to be doing well as they have expanded the capital requirement.

[masurenguy] 18/3/2021 07:05

Further delay ! ☹

[ali47fish] 26/2/2021 16:13

any comment about the rsn today- why is the format different?

[johnv] 26/2/2021 06:54

https://www2.asx.com.au/markets/company/WJA

[johnv] 26/2/2021 06:51

Final year report is out on Aussie stock market.

[largeronald] 22/2/2021 19:54

Ali - as Dr Biotech says, probably won't make too much difference - all depends how large their positions are.

[johnv] 22/2/2021 19:42

I though I would mention as it was most probably the reason for today's drop. There is about 30 companies on the UK markets affected, the other 1000s of so are most probably in the US.