Wameja Share Discussion Threads

[johnv] 30/4/2021 13:26

The last starement said that If MC agree to takeover WJA on or before 24th may, the date will be extended to 30th Sept. Does that mean it will be wrapped up and paid on 30th Sept or will we be paid out before?

[alphafund] 30/4/2021 12:33

What do you mean somethings up? Sailorsam?

Annual report out on the ASX and accounts.
Company still saying nothing to be worried about.

[cornishman33] 29/4/2021 20:19

A few 50000 (£3000) buys gone through. Could be that a buyer just sees a quick, easy 25%. I have a few from about 5p so that would suit me.

[johnv] 29/4/2021 20:06

Only 15 trading days left

[sailorsam1] 29/4/2021 19:25

Something afoot here

[johnv] 23/4/2021 07:37

KPI update out

[blusteradjuster] 10/4/2021 21:05

The sums involved are ‘coins down the back of the sofa’ to a behemoth like MasterCard.

Drawing things out (and delaying the return they can get from owning Homesend) seems like a pointless distraction.

[kinbasket] 10/4/2021 15:07

FFT, I agree. The idea that someone else would buy 35% of Homesend and be a junior partner to Mastercard is nonsense. With no control and a potential fundraising money pit you'd be completely tonto to even consider it.

As you say MC can dilute Wameja easily if they want to.

From here it's a question of how "honest" MC want to be. Are they going to play fair or will they go for the steal. WJA have zero cards to play and are a passenger on the bus.

[fft] 10/4/2021 12:05

Do you mean that MC could have sold to visa ? I don't think so ! Homesend is important to MC - but no matter how big it gets MC will control it's profitability and thus how big the dividend that WJA would receive. And, the bigger it gets the more working capital it will need which WJA can't supply so WJA get more and more diluted and less and less important (I don't think they have much say in what happens at the moment anyway).

[dr biotech] 10/4/2021 10:02

Or they could sell to a third party such as VISA or private Equity etc. MC could have done either of the above last year before making their bid, why didn’t they?

Court case has really dragged on though

[fft] 10/4/2021 09:17

I am not sure that WJA is in that strong a position.As I see it, MC could reduce the WJA value to a very low figure in 2 ways.1. Have large finance requirements. If WJA can't meet its share, then WJA will be diluted. The first dilution happened a couple of months ago.2. Turn homesend into a non profitable profit centre within MC. I.e. it makes losses every year. It doesn't need to buy WJA out, no dividends will ever be issued and no one will buy WJA stake because they have no control and little influence over what happens going forward. In the end, to stop being diluted to a low level and still having WJA company costs, WJA mgmt will be forced to sell for whatever MC want to pay. IMHO, WJA shareholders have very little upside from here.

[smithless] 09/4/2021 13:35

It wouldn't be is MC interest to terminate, as this would leave 35% of Homesend shares in the hands of institutional shareholders who own 65%+ of Wameja. That would leave Wameja's stake in Homesend open to being sold to a rival, which would mess up MC plans for Homesend. Also if MC wanted to do the 'dirty' on Wameja it wouldn't have reduced the 'cash reserve requirement from 4m to 1.5 euros. I have no idea what game plan SDS has, but I find it rather coincidental that it put this indemnity claim in just 20days after an agreed bid my MC. Whether a real claim exist I don't know, but as most of the clients it bought from eservglobal have been moved onto SDS own ERS360 platform. I suspect this is where the problem is. Either the ERS360 platform is not integrating well with the clients platforms and it does want to loose its indemnity claim clause with Wameja once the takeover by MC happened.

[dr biotech] 09/4/2021 12:36

I just see this as a fairly standard timeline extension. Home send is worth c£120m to MC, WJA have virtually no expenditure, they could sell that stake to someone else. Boring waiting, but it’s a small holding for me.

[tabhair] 09/4/2021 11:43

There has been no material change to the status of the Potential Indemnity Claims since the announcement of 18 March 2021.

Strange that this is in the RNS, yet they feel the deal can be wrapped up by May 24th. Bought a few more myself on this.

[kinbasket] 09/4/2021 11:42

Conversely, I think the downside risk here just went up considerably. This RNS says

The Sunset Date will automatically extend to 30 September 2021 if Mastercard determines to proceed with the Scheme on or before 24 May 2021. Mastercard may terminate the SIA at any time for convenience up until 24 May 2021.

So MC have until the end of May to decide to proceed. Or not. And they can decide not to at any time. Then buy Homesend out of Administration from Wameja for a discount. I don't doubt MC want Homesend but do I trust them not to steal it ???

I'll hold mine to completion but I won't be buying any more.

[fozzie] 09/4/2021 10:47

Very happy to keep picking up a few, just bought another 15000. The % uplift here is not to be sniffed at and is almost a certain thing I would have thought.

[johnv] 09/4/2021 07:25

News out, will be wrapped up by 24th may unless MC wants to extend for some reason to Sept.

[cornishman33] 01/4/2021 15:00

I also have TRMR, but I don't see the connection with WJA.