Heard the same and from that we should not be reading anything sinsiter into this. He´s put family ahead of PPH with a cool $100m in his pocket. I wish him well and thank him for giving us the great opportunity that PPH has been for many of us.
It will be interesting to see which institutions buy his 9% and what effect this extra free float will have on SP and index positions. Happy for it to stay listed on NZX and ASX only. Happy holder.
Percy reckons companies doing what they say they will do build credibility over time and one should look for companies that do what they say they are going to do. I like his approach in as much as companies need to earn the market's trust, trust is earned never given.
"We are going to be cash flow break even by Q4 2017" - Fail
"We are going to list on the NASDAQ" - Fail
Given these two failures how much credibility can one put of their claim they'll be cash flow break even by Q4 2018 ?
One more fail and three strikes and you're out ? Personally speaking I think those are two serious breeches of previous undertakings given in as much as they're key milestones the company set for itself and key milestones in the company's development cycle that some shareholders were relying on. I have genuine reservations about the plausibility of the reasons given for breeches of these KPI's. The shares have had a huge last 18 months or so despite these two key KPI's bad misses.
If I had of bought this morning at $4.35, (thankfully I didn't), I would be very disappointed with developments today. Surely key personnel knew over the weekend that this deal was in the works and being brokered which begs the question of why this wasn't in a trading halt from first thing this morning ?
If they don't meet their undertaking to be cash flow break even by Q4 2018 I doubt the market will be as forgiving the third time around. In my book, one breech of a milestone is concerning, two would be deeply concerning if I was still holding, and at three breeches, run for the hills !
I see plenty of risk in the stock at $4.00, (the poor sods that bought this morning at nearly 10% north of that) !
Last edited by Beagle; 18-06-2018 at 08:48 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
Percy reckons companies doing what they say they will do build credibility over time and one should look for companies that do what they say they are going to do. I like his approach in as much as companies need to earn the market's trust, trust is earned never given.
"We are going to be cash flow break even by Q4 2017" - Fail
"We are going to list on the NASDAQ" - Fail
One more fail and three strikes and you're out ? Personally speaking I think those are two serious breeches of previous undertakings given in as much as they're key milestones the company set for itself and key milestones in the company's development cycle that some shareholders were relying on. I have genuine reservations about the plausibility of the reasons given for breeches of these KPI's. The shares have had a huge last 18 months or so despite these two key KPI's bad misses.
If I had of bought this morning at $4.35, (thankfully I didn't), I would be very disappointed with developments today. Surely key personnel knew over the weekend that this deal was in the works and being brokered which begs the question of why this wasn't in a trading halt from first thing this morning ?
If they don't meet their undertaking to be cash flow break even by Q4 2018 I doubt the market will be as forgiving the third time around. In my book, one breech of a milestone is concerning, two would be deeply concerning if I was still holding, and at three breeches, run for the hills !
Agree they need to become cashflow positive this year as they´ve pronmised, but I am forgiving for fast growing startups to change direction occasionally. As I was with DIL and ATM in the early days. PPH did as they said they would by investigating the possibility of a NASDAQ listing (I never though this realistic in the near future) and have now decided against it. We also have an added 9% of the company´s shares on free float after tomorrow.
I prefer they focus on growing the business and becoming cashflow positive, than spend much of their time and money on a NASDAQ listing preparation.
A similar discussion of a NASDAQ listing was frequent on the DIL thread but never happened. But you know what happened there.
Percy reckons companies doing what they say they will do build credibility over time and one should look for companies that do what they say they are going to do. I like his approach in as much as companies need to earn the market's trust, trust is earned never given.
"We are going to be cash flow break even by Q4 2017" - Fail
"We are going to list on the NASDAQ" - Fail
Given these two failures how much credibility can one put of their claim they'll be cash flow break even by Q4 2018 ?
One more fail and three strikes and you're out ? Personally speaking I think those are two serious breeches of previous undertakings given in as much as they're key milestones the company set for itself and key milestones in the company's development cycle that some shareholders were relying on. I have genuine reservations about the plausibility of the reasons given for breeches of these KPI's. The shares have had a huge last 18 months or so despite these two key KPI's bad misses.
If I had of bought this morning at $4.35, (thankfully I didn't), I would be very disappointed with developments today. Surely key personnel knew over the weekend that this deal was in the works and being brokered which begs the question of why this wasn't in a trading halt from first thing this morning ?
If they don't meet their undertaking to be cash flow break even by Q4 2018 I doubt the market will be as forgiving the third time around. In my book, one breech of a milestone is concerning, two would be deeply concerning if I was still holding, and at three breeches, run for the hills !
I see plenty of risk in the stock at $4.00, (the poor sods that bought this morning at nearly 10% north of that) !
Pushgave themselves lots of ticks
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Agree they need to become cashflow positive this year as they´ve pronmised, but I am forgiving for fast growing startups to change direction occasionally. As I was with DIL and ATM in the early days. PPH did as they said they would by investigating the possibility of a NASDAQ listing (I never though this realistic in the near future) and have now decided against it. We also have an added 9% of the company´s shares on free float after tomorrow.
I prefer they focus on growing the business and becoming cashflow positive, than spend much of their time and money on a NASDAQ listing preparation.
A similar discussion of a NASDAQ listing was frequent on the DIL thread but never happened. But you know what happened there.
Respect your point of view mate and congrats on such a great run with DIL and early stage ATM.
This is exactly what they said with the annual result just one month ago.
US market listing
On 10 January 2018, Pushpay announced its intention to complete a US market listing this calendar year.
The Board believes that a market listing in the US will expand Pushpay’s shareholder base, increase liquidity and enable the Company better access to capital, thereby increasing funding alternatives to support the Company’s growth strategy. With 97% of Pushpay’s Customers based in North America along with 258 staff, Pushpay considers a market listing in the US to be a logical and important step in order to take advantage of growth opportunities, further strengthen the Company’s market position and increase awareness of the Company and its products globally. Any market listing would be subject to satisfactory market timing, approval by a US exchange and satisfying a number of other customary listing prerequisites.
"Emphasis added"
I'll leave it for others to judge for themselves if what they said last month and what they said today on this matter seems like a reasonable shift in position. If what the above poster has suggested is true why not just come clean and admit they didn't meet the NASDAQ requirements for a listing ?
Hey Winner - The old "accentuate the positive and eliminate the negative" springs to mind doesn't it.
Last edited by Beagle; 18-06-2018 at 09:28 PM.
Ecclesiastes 11:2: “Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.”
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
I suspect a lot of their "NZX turnover of shares" numbers are due to people buying in once the NASDAQ listing was announced last year. Those people are going to be mighty pee'd off now, expect a hammering on the SP over the next few weeks. My pick is low 3's to high 2's.
Heard the same and from that we should not be reading anything sinsiter into this. He´s put family ahead of PPH with a cool $100m in his pocket. I wish him well and thank him for giving us the great opportunity that PPH has been for many of us.
It will be interesting to see which institutions buy his 9% and what effect this extra free float will have on SP and index positions. Happy for it to stay listed on NZX and ASX only.
Happy holder.
So why does he desperately need all that money out right now? Thats an aweful lot of money to want now,if you still believe in the company. Why not take a bit then realise the rest at a later date,No I feel there has been amajor falling out. Maybe also they don't fit the Nasdaq listing requirements.
Just my 2c and food for thought. Lost interest now.
I suspect a lot of their "NZX turnover of shares" numbers are due to people buying in once the NASDAQ listing was announced last year. Those people are going to be mighty pee'd off now, expect a hammering on the SP over the next few weeks. My pick is low 3's to high 2's.
Realistically only worth about $2.75 at most .....the pipe dreams and hype only drove it up to $4 plus.
Some other big holders have sold down over the last year as well
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Value will be worked out today. $4.00+ for a fully subscribed book build. Less than if not.
Underwritten so no worries
Plenty of takers I reckon ,,,$100m for a fast growing company with huge potential will see to that. Instos bit like the Labour government in that it’s easy to spend somebody else’s money
Share price come Christmas will be the test ...not this week
“ At the top of every bubble, everyone is convinced it's not yet a bubble.”
Originally Posted by iceman
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