Water Hall Share Discussion Threads

[solarno lopez] 30/7/2013 13:42

and 500k to come in from the claim which isn't recognised in the accounts

[tiltonboy] 30/7/2013 13:30

On what basis?

[solarno lopez] 30/7/2013 13:16

Ignore the offer when you get your paperwork

[tiltonboy] 23/7/2013 11:51

There will be about 20m shares in issue following the takeover, but I would be cautious on the profits for 2013. Even if they produced 350k, and with a nil tax charge, I make the P/E 7.

I think PEG have a good underlying business, but can they make real money out of it!

[barnetpeter] 23/7/2013 11:32

Basic and diluted EPS of 2.9p (2011: 4.9p)

Remember that 30% of the stock is held by WTH so some will either get cancelled or held in treasury (as not a straight share offer). So with PEG at around 13 pence and finance costs lower because of this deal ...

I am not that keen on Peg myself...but with this deal it may suprise me.

[tiltonboy] 23/7/2013 11:13

barnetpeter,

How do you get to a p/e of about 3?

[tiltonboy] 23/7/2013 11:08

Noujay,

" a dip in PEG share price simply means that WTH holders will get more of the whole pro rata."

I'm afraid you are wrong, the terms are already set:

"Under the terms of the Offer, Water Hall Shareholders will be entitled to receive 12.5 New Petards Shares and GBP2 nominal convertible loan notes per 100 Water Hall Shares."

A fall in the PEG price means the value of the bid is worth less.

[barnetpeter] 23/7/2013 10:16

Petards Group plc ('Petards'), the AIM quoted developer of advanced security and surveillance systems, reports its audited result for the year ended 31 December 2012.
Financial results
-- Revenues GBP9.0m (2011: GBP12.1m)
-- Operating profit GBP327,000 (2011: GBP335,000)
-- Profit before tax GBP206,000 (2011: GBP215,000)
-- Profit after tax GBP200,000 (2011: GBP312,000)
-- Gross margin 43% (2011: 37%)
-- Net debt at 31 December 2012 GBP0.1m (Dec 2011: GBP1.5m)
-- Basic and diluted EPS of 2.9p (2011: 4.9p)


So PEG would have no debt, cash, will be on a PE of about 3.

Even so, I can understand reluctance to buy. I could easily see PEG going skint...not much confidence in the Board is there?

Yet a possible gift horse is not to be ignored in the mkts...

[barnetpeter] 23/7/2013 10:11

You can buy these at 2.3p. Of course the PEG price will be crucial...but their bank debt will be wiped and they will have all this funding. In addition, 30% of the stock will be held in treasury.

Peg may well blow the lot of course!

[noujay] 23/7/2013 09:59

You are referring to the entire issued capital and obviously the headline figure fluctuates with share price movements, but as PEG is acquiring WTH a dip in PEG share price simply means that WTH holders will get more of the whole pro rata.In value terms WTH shares are 4p.

[tiltonboy] 23/7/2013 09:43

"The Offer values the entire issued and to be issued share capital of Water Hall (assuming full conversion of the Water Hall Loan Note) at approximately GBP3.56 million, assuming a price per Petards share of 16.5p"

What is the price of PEG now?

[noujay] 23/7/2013 09:32

I read it as worth 4p to existing WTH holders plus the loan notes, so certainly better than where we currently sit and with the potential to develop.Whether you have faith in PEG is obviously key going forward, in terms of whether their shares (ie our new ones) hold their price.You might say that the risk is PEG not holding its sp, but the bid price as things stand is 4p.Your version?

[tiltonboy] 23/7/2013 09:21

What is the value of the bid for Waterhall?

[noujay] 23/7/2013 09:17

Would you mind elaborating?

[tiltonboy] 23/7/2013 07:07

noujay,

You are missing something blatantly obvious.

[noujay] 22/7/2013 22:45

Tilton, I found the IC piece and wasn't sure why you felt it was sloppy? It simply reflects the offer and I can't see why you don't view this as a positive for WTH shareholders. Particularly as you are one!Are you simply battle-scarred or am I missing something obvious?

[solarno lopez] 22/7/2013 12:03

thanks well worth a punt they tell me

[tiltonboy] 22/7/2013 11:47

Still stock on offer at 2.5p

[solarno lopez] 22/7/2013 11:46

But not as quiet as I thought as it ticks up

[solarno lopez] 22/7/2013 10:26

a quiet day

[solarno lopez] 18/7/2013 14:30

According to you it is a case of buying Petards, posting 259 and I feel sure you can afford the £50

[tiltonboy] 18/7/2013 14:21

Buy some more then. Plenty on offer at 2.5p!

[solarno lopez] 18/7/2013 14:05

This is so cheap now .....its crazy

[tiltonboy] 17/7/2013 13:21

I hope they are going to support the PEG price. Sale of £50 worth and they drop the bid price by 8%.