PPH - PushPay (Church/donor software.)

[Muse]

Maybe they working out some real stuff before informing some thing concrete ....But should it take so long to work out real stuff ? Maybe they actually need a formal offer to tell us about ...something binding kind or ....

yes that's probably what it is happening. But they should still be giving an update, even if not giving the indicative price, but on the process and timetable.

I'm guess but from the time an offer is received I'd say the Board will spend 2-3 weeks figuring out how to respond. First they have to go appoint an advisor - that takes up to fortnight. The adviser needs to do some initial valuation work to give to the board so they can decide if and how they want to engage. That's ~2-3 weeks. Probably underway or nearly done by now.

Then if the company decides to engage has to spend a few weeks populating the dataroom. That's probably happening now or started after initially appointment goldman sachs.

Then the bidders have 3-4 weeks to do due diligence, and a week to firm up final offer, chisel or walk away.

PPH then has to get an independent report - couple weeks. Then the whole scheme of arrangement or takeover process.

Then OIO

these things drag.

[alokdhir]

https://www.nzx.com/announcements/392577

Time for the offer price to be revealed ...

My guess is $ 1.85 !!

[winner69]

https://www.nzx.com/announcements/392577

Time for the offer price to be revealed ...

My guess is $ 1.85 !!

Surely 2 bucks

See over 20% of shares ‘committed’ under that cooperation agreement’s

[alokdhir]

Surely 2 bucks

See over 20% of shares ‘committed’ under that cooperation agreement’s

Saw that ...it surely means take over story is very serious and most likely to happen ...$ 2 will be a bonanza ...

Dont know why they went in trading HALT ? For ASX opening or something else ? Just bring out the info and let it trade !!!

[Arbroath]

Saw that ...it surely means take over story is very serious and most likely to happen ...$ 2 will be a bonanza ...

I think there's a few dreamers here and fair enough. PPH were around $1.00 when they disclosed approaches had been made and haven't traded above $1.40 despite the market knowing a transaction was better than 50/50 although some enthusiasm no doubt cooled by the recent tech meltdown overall.

My guess is the deal gets down in the $1.50-$1.60 range but GLTAH and if you get $2.00 then happy days!

[Muse]

Saw that ...it surely means take over story is very serious and most likely to happen ...$ 2 will be a bonanza ...

Dont know why they went in trading HALT ? For ASX opening or something else ? Just bring out the info and let it trade !!!

BGH are locking up Sixth Street Partners, the largest shareholder in PPH and have close to a defacto blocking stake in the company.

Sixth Street built up their position over the last year or so at prices much higher than todays price and would be unlikely to realise their position at a loss or breakeven given their conviction in the company.

So getting them to roll their equity into the takeover the only realistic way of achieving a takeover. And probably signals to me that the price wont be sky high as if it were they would have taken the dosh.

Very similar to what is happening on the ASX with infomedia (car parts saas) which I am a holder in - TA associates locked up the big shareholder there. I thought TA could have been the PE behind PPH as they like financial services and are active in NZ (they are the 2nd largest shareholder in Fisherfunds).

BGH are big dogs. Look forward to seeing the price and process.

[alokdhir]

BGH are locking up Sixth Street Partners, the largest shareholder in PPH and have close to a defacto blocking stake in the company.

Sixth Street built up their position over the last year or so at prices much higher than todays price and would be unlikely to realise their position at a loss or breakeven given their conviction in the company.

So getting them to roll their equity into the takeover the only realistic way of achieving a takeover. And probably signals to me that the price wont be sky high as if it were they would have taken the dosh.

Very similar to what is happening on the ASX with infomedia (car parts saas) which I am a holder in - TA associates locked up the big shareholder there. I thought TA could have been the PE behind PPH as they like financial services and are active in NZ (they are the 2nd largest shareholder in Fisherfunds).

BGH are big dogs. Look forward to seeing the price and process.

Thanks for your thoughts ....

Why such long Halt ? What are they waiting for ? Hopefully they know the price by now so just a question of informing us via exchanges ? Or some negotiations still going on ??

[Muse]

Thanks for your thoughts ....

Why such long Halt ? What are they waiting for ? Hopefully they know the price by now so just a question of informing us via exchanges ? Or some negotiations still going on ??

Good questions - I dunno the answer

I’m guessing by entering into the co operation agreement sixth street and BGH are now bound at the hip and had to file the SSH asap. All the other process updates may not have been ready for release yet but the SSHs need to get filed as soon as possible. And they are inthemselves price sensitive. So a trading halt to give time for whatever is happening in the background to be finished and put into a release.

Could be today or tomorrow but am totally guessing

[Lego_Man]

Another shame for the NZX

[jimdog31]

Another shame for the NZX

It is, however it just goes to show, NZ companies don't get the love or support here that they need, and as a result share prices languish and get picked off.