Xps Pensions Share Discussion Threads

[29howard] 17/1/2014 07:35

What is to stop him buying higher 1.5 mil chunks in the market to get control as others sell, so he has to pay 0.15 higher for the next 20% to him we all know it will be worth it, in 5 years time he will float them all again for 50 million it is legal robbery

[graham1ty] 16/1/2014 21:25

It cannot be PJ buying today. Whatever bid he makes has to be at the highest price he has paid in the last year. If he has paid over 0.525p today he would just have to revise his offer

[29howard] 16/1/2014 20:33

All depends on the volume today, is the buyer PJ or somebody else trying to stop
him getting total control, read your posts LBO it is truly disgusting what some
people in business will do and Peter Jones is right up there but then you see him
on Dragons Den screwing people all the time these people are so arrogant and greedy they do not care one bit about screwing shareholders so he sells business's
to Xps for 48 million and then tries to buy it all back for nothing when there could be signs of a big recovery.

[lbo] 16/1/2014 13:44

His telecoms technology business Phones International Group had already earned him a fortune when he joined the Dragons, eight years ago. His personal wealth is estimated at almost half-a-billion pounds.

Despite its success, most people will have never heard of Phones International Group. But in his latest venture he is rather more in the limelight. In March he bought high-street photographic chain Jessops.

The company had collapsed into administration with debts of £81million. Jones snapped up the business for £5 million and began drastic surgery, giving customers the chance to play with products in the same way as at an Apple store.

Jones says: 'It had a very tired, weary estate of 200 stores, of which over 100 were just not profitable. I'm not any form of genius, I'm just copying someone else's success.

'We've got 28 stores operating today. Our sales are up like-for-like over 30 per cent, compared with last year. We will in our first year generate sales in excess of £70 million and we will make a profit. About 85 per cent of the 500 staff are original employees.

[lbo] 16/1/2014 13:41

Jessops owner Peter Jones has revealed the camera retailer will generate sales of more than £70m and will make a profit in the first year under his ownership.

[vyke82] 16/1/2014 11:26

Till Peter gets 75% this should go up. I think out of courtesy to PIs he can just offer 1p to take it private.

[lbo] 15/1/2014 23:50

This company has been very badly managed IMHO

[lbo] 15/1/2014 23:44

From a recent house broker N1 Singer report at the time of the AGM late last year:

XPS trades on a prospective Apr 2014 PER 3.5 falling to 2.8 April 2015 or 3.0x on a cal 2014 basis, (0.6x EV/EBITDA)

Our analysis suggests the intrinsic value of 1.6p is almost triple the current share price.

Revenue targets
2014 £112M
2015 £122M
2016 £139M.
EBITDA
2013 2.2M
2014 2.8M

[harvester] 15/1/2014 23:33

I had no knowledge of this co until today and therefore still have very little knowledge to contribute to your discussions .
However, it appears to me that the loading of £2.2 mill of exceptional losses into the account just seven days before the takeover attempt was designed to hide the turnround of the company . By front-loading these restructuring costs and before the benefits of the T-mobile contract come through it appears to be an attempt to short-change long-term investors.
I hold no shares in this company and have no vested interest in it . So far !

[tomboyb] 15/1/2014 23:17

Agreed LBO - It seems the only winner here is Jones - shareholders shafted! I hope they do not recommend it. The tech market seems to be taking off here and at this juncture it would be a kick in the teeth -

[lbo] 15/1/2014 23:06

The board cannot possibly recommend this offer? If they do then every single shareholder will be wondering how the same Board less then four years ago recommended the purchase of DSNS and PJ media off Peter Jones for £49m. Mr Peter Jones himself was paid £13m in cash and the rest in shares.

Many in the city who took part in the placing at the time will not be too happy with what is going on here and what has gone on since £30m was raised at 5.6p back in 2010 with certain UK Institutions.

Yes 5.6p to 0.52p and millions lost and now Mr Jones is trying to buy Expansys for £6m. A company that Singer the house broker is forecasting Pre tax profits of £2m in 2014 and EBITDA of over £2.6m.

If the Board recommend this offer they will have a lot of awkward questions to answer and how its been run since 2010

[harvester] 15/1/2014 23:02

There seems to be some confusion over the mandatory offer price.
According to RNS it is 0.525; according to Telegraph article it is 0.46p/sh .
Which one is right ?
Are the ADVFN financials( cash:0.5; net cash:-0.75;net ; pre-tax loss -1.63; ; loss:-1.55 ; net debt 8.77 mill) data right?
How will he turn it round ?
I only found this thread today; hence little understanding what is going on here . It is pretty hard to value a company like that unless you have inside info .

[tomboyb] 15/1/2014 21:02

Dragon Jones launches takeover of Expansys

Peter Jones forced into launching a full takeover of online smartphone and laptop seller after upping his stake in Aim-listed company to above 50pc


Dragons Den's Peter Jones has launched a full £6.1m takeover of his Aim-listed electronics online retailer Expansys after upping his stake to above 50pc.


Mr Jones already owned 41.4pc in the retailer, which tries to rival Dixons and Carphone Warehouse and must make a full cash offer for the company after buying a further 9.49pc stake.


The move by Mr Jones comes after the company last week announced it had booked a £2.4m loss after a charge in its US sim card business.


Expansys is chaired by Bob Wigley, the former chairman of Yellow Pages group Hibu, which collapse into administration last year wiping out shareholders.


Mr Jones only needs an additional 25pc of the company's shares to be tendered to delist the company from London's Aim exchange, potentially trapping investors in an illiquid company.

Under UK takeover rules any shareholder that owns more than 30pc, but less than 50pc of a company is forced to launch a mandatory cash offer for the entire company.

Mr Jones is offering 0.46p for each Expansys share, which is a 12.9pc premium to Tuesday's closing price.

Financial advisor WH Ireland has said that it is satisfied that Mr Jones, who has a reported £220m personal fortune, has the financial resources to pay the £2.86m in cash needed to control the full company.

Mr Jones lists Expansys as one of his 16 portfolio investments including Jessops, Levi Roots' Reggae Reggae sauce and Red Letter Days.

[tomboyb] 15/1/2014 20:55

vyke82
15 Jan'14 - 20:51 - 725 of 725 0 0


This stinks

I agree -

[vyke82] 15/1/2014 20:51

This stinks

[charmer1_23] 15/1/2014 20:40

Always thought XPS would be vulnerable to predatory interest, with PJ declaring his hand they are now firmly in play:

Charmer1_23 - 02 Aug 2013 - 10:50:40 - 538 of 723
Opal, the valuation does seem a tad daft here but WDIK. Market cap almost equals unrestricted cash held at 30/04/2013 & throw in a £90mil+ turnover for good measure surely these are a medium term recovery play unless they are bought out on the cheap, will be interesting to see how this all pans out.....

[tomboyb] 15/1/2014 20:38

Only 53% by concert - hence 75% required which they could do buying on market - That will create an artificial boost to share price if that happens

[hamidahamida] 15/1/2014 20:25

I am out guys good luck to any one holding out for more.

[29howard] 15/1/2014 20:06

According to the LSE bb PJ needs 75% so he may well have to buy in the market unless Legal and General bail him out, interesting play now not expecting PJ to bid 1-2p for the rest of the stock but at the same time he surely cannot get this company for under 7 million as well so he might have to go 0.7-1p to get the rest
but only my thoughts I could be way out on this one.

[tt2oo5] 15/1/2014 19:14

..not if you are averaging at +1p.

[charmer1_23] 15/1/2014 17:41

XPS response to PJ mandatory cash offer:

[envirovision] 15/1/2014 17:40

Yes mate, nice work if you can get it! I guess shareholders should count themselves lucky it's at a slight premium.

[29howard] 15/1/2014 17:31

Stockologist

Hello again, I think they are all out looking at the buys followed by the sales, I managed to buy back before them so there has some good press on this news so think it could bounce again in the morning.