Some interesting movements on the share register since the offer was announced. MAN group have bought 65m (2.8%) via CFD's, Oddo Meriten Asset Management have bought 115.5m shares (5%) and MVN Asset Management have bought 36m (1.5%) in shares & swaps, bringing their total holding to 59m (2.5%).
I suspect they'll all be angling for a higher price, but there's been no interest shown by another company so don't get your hopes up for a massively improved offer, maybe 3.1 or 3.2p per share. I'll be surprised if it's any higher.
Having banged on about how this would be a 10 bagger, double in value next week blah etc blah etc blah one might hope that a chap with spine would be back to admit he had been wrong all along. But it would appear "Dr Singh" lack both spine and common sense.
In short, he's a coward and a fool, all wrapped up in one bit of worthless jelly.
I would think this is a good deal for all concerned there is no way Monitise would survive long term. I know this business very well, I was there for 9 years.
The market has moved on the company has not, its strategy fell apart in 2015 and Lee has done a great job since then in my view. Nobody has bought finkit, firserve could do a job with it as well as the US business which has been treading water since it was bought.
They will sell of the agency and the content business and probably get a decent slice of the £70m back for those.
Take the deal.. be happy as if left in two years the SP would be close to zero.
I can't believe the board think this is a good offer.... he'll no.... always reject first offer another will come if not the company is worth much more than 2.9p Jesus come on board don't sell yourself short....unless they know something we don't.. ..eeeeek
I tend to agree Aborman. £70m for a company valued 20 times this at one stage, seems too cheap to me. It wouldn't surprise me if a counter bid came in around the £100m mark giving us, as you say, circa 5p a share payout.
Monitise and Fiserv UK Ltd have agreed a recommended offer by the latter for the former. Monitise shareholders would recieve a premium 2.9p cash for each share. The offer value Monitise at about £70m.
Peter Ayliffe, chairman of Monitise, said:
"Following the simplification and stabilisation of the Monitise Group and the focus on the development and marketing of its next generation digital banking technology FINkit, the Monitise Board has been regularly reviewing its medium to long-term options.
"In reaching its decision to recommend this offer, the Monitise Board has considered in great detail the best interests of all stakeholders and the Company as a whole.
"Recognising the growth challenges we continue to face, we believe that Fiserv's all-cash offer provides shareholders with certainty of value at a level in excess of the risk adjusted prospects of the Monitise Group on a standalone basis.
"In addition, Fiserv as a large and diversified international financial technology business, has the ability to accelerate the growth of the business through greater scale, investment, and routes to market."
At 8:55am: (LON:MONI) Monitise PLC share price was +0.56p at 2.86p
I receive the daily "freebie" comment but do not subscribe to their full service. It is expensive! The header in today's issue is "Fintech" Part 2 so they must have done an analysis of all the players in this sector and their prospects. It would be interesting to know if and how MONI fits into their summary. If anyone knows if and how MONI fits in that would be helpful! Any positive mention would be re-assuring but if no mention at all that would be worrying-especially with the recent "partners" announcement; the IBM association and the long history of MONI in this area.
Does the slight increase in the SP today suggest that it does get a mention? I would love to know!
I wish I had your confidence.. I have only held this stock for just over a month and already I'm down 2k not happy at all. Was hoping for a quick profit but since I bought in its Benn dropping 2 to 5 percent each day . No news from company for a while also. We need a good rest just before Xmas just to recover my losses
I hear you there Hugh but whatever about the silly ramping, across the piece Sir Singh's STOCK PICKING - including avoid calls eg African Potash - has been at least good in 2016, I believe.
eg In a months time if you name X bad calls of his this year, I believe I will name back at least X *1.5 times as many good ones
(I've never met the guy in my life btw.. but I have positions in a lot of stock and follow a lot of II bulletin boards and rate his calls, on average, fairly highly in 2016)
Monitise has not been one of his good calls so far in 2016, granted... the years not over yet though.. and I said the same about Flx when it hit 2.75p a few months back but it's looking a lot better at 6.75p now..
PS: Monitise is not an investment, it's a bet, in my mind..
You think so? When he said about a year ago that a takeover bid at 10p was going to be announced the next day? Not only a clueless ramper but one willing to break the law to try and puff life back into his hopeless position.
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