RNS this morning. Plus500 (LON:PLUS) have recommended acceptance of an offer of 400p per share from Playtech.
What do you think of that?
Hmm, bit of a come down from 770 a couple of weeks ago.
Smoke and fire and all that.
About the Author
WarrantStar
I am a keen & experienced investor. I love my spread sheets, and like to think that I know what I am doing. I wouldn't be offended to be described as a bit geeky. Mostly I do well, but I always strive to do better. Married male. Born 1957 England. Good career in industry for 35 years. Been successfully investing for about 30 years. I chose to retire from salaried employment at age 57 to look after my investments. I consider myself to be quite analytical / logical / mathematical, but also take into account how the world is likely to change & how people behave. I always follow my processes before taking action. more »
5 comments
stanislawski
When the price started to tank I decided it was an overreaction and decided not to sell despite feeling huge emotional pressure in my mind almost compelling me to cut my losses. AS I bought at 695p then a couple of times above 700 I will have a loss but not as much as seemed likely just a few days ago. Ironically I used to own Playtech until I thought they were doing nothing - perhaps time to look again.
The real lesson for me is that although stockranks are great and I rely on them they have a major weakness of course in being reliant on backwards looking data published by the company itself. Obviously I knew this but the Plus500 saga reminds me in a most visceral way what this means. Sin stocks have a high yield for a reason and stockranks can never measure left-field risks so diversification as always is key. I was diversified so overall did not suffer to badly but its a lesson learned about doing your research (or just living with risk) and sin stocks (which I still like).
S
mrsimes
I purchased at 650p per share. Does this deal mean that I'll now receive 400p per share returned to me and the shares dissolved? If so, when does this happen?
Currently they are still moving down, so I assume you are still currently free to trade them if they happened to rise above 400p at any time before this deal completes?
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WarrantStar
You are free to trade in the market. I'm sorry but I don't know when or if the 400p deal will go through. If you keep your shares and the deal goes through, then you will get your 400p.
Rusty2
Yes if deal goes through you will get 400p, I believe its planned for September. Yes you can trade them now, I sold all mine on Monday. Think the only reason they will go above 400p is if another bid comes in, which looks unlikely.
