VGL - Vista Group.

[Dlownz]

In NBR -

A full takeover of Vista Group is not on the cards for Australian private equity firm Potentia, despite it taking an 18.5% stake in the NZX-listed cinema software provider today.

It is, however, looking to forge a “partnership” through representation on the NZX and ASX-listed company’s board

I'm sceptical. They don't want to push up the share price and pay more after buying 19%. Wait 2 weeks till the deal is done and dusted then make the play.

[ronaldson]

I don't want to be selling my shares at 2.10 a share. Maybe $3. Took awhile to find this gem they arnt taking from me that easily

I confess to reflecting throughout the day and then exiting at the close at $2.10. Was about 4.5% of my portfolio. Not sure what tomorrow may bring but buyside support for many listings is very thin at the moment so underpinning here may be dubious, especially since it's improbable that the current purchaser will go beyond 19.9% maximum, which may mean an opportunity to reenter a holding at some point. Meantime cash is king if opportunity presents, and it has an actual yield too.

[Hoop]

Bugger..The major flaw in long term investment strategy ..a takeover when the fallen share price is in recovery mode. Frucor still springs to mind.
3.47pm (NZT) announcement : percentage held in class: 19.931%

Very close to the 20% rule..eh

[sb9]

Bugger..The major flaw in long term investment strategy ..a takeover when the fallen share price is in recovery mode. Frucor still springs to mind.
3.47pm (NZT) announcement : percentage held in class: 19.931%

Very close to the 20% rule..eh

Yeah concur with you. It’s just started to turn the corner and an opportunistic offer comes along. I didn’t invest to let them off around 2+ bucks. My tp for exit was something close to 4+.

You only hv to look at GTK’s performance over past 2+ years. Hope big boys won’t let this off cheaply.

[sb9]

Per ASX release, both Spheria and Pinnacle got rid off their stake. Should see those announcements on NZX tmrw.

[ronaldson]

Per ASX release, both Spheria and Pinnacle got rid off their stake. Should see those announcements on NZX tmrw.

Yes, but they and Wilson Asset Management all have the benefit of an escalation clause for the next 12 months. So they have a comfort that other sellers, at least from this point, do not.

[bull....]

im out yest my target short term weas always over 2 , good luck to holders

[Dlownz]

Seems to be a lot of renewed interest in this now. I hadn't looked at the share price till today. Great that it's still climbing

[winner69]

Clare Capital printed an interesting Insight today

This week's Tech Insights report looks at the listed cinema software provider Vista. Vista has recovered from a challenging Covid period, with revenue up to $143m and trading at 3.7x revenue. Potentia (Australian PE firm) has recently taken a ~19.9% stake in the business, presumably to prepare to launch a full takeover offer at some stage.

Potentia has precedent in this area, having built a stake in ASX-listed Nitro Software in 2022. Potentia got into a bidding-war with KKR-backed Alludo, however the ~19.9% stake Potentia had already built up made it difficult for Alludo. Despite Alludo getting the Board and founder onside, Potentia was the successful acquirer. We'll be watching with interest to see how this opportunity with Vista plays out.

It’ll be on their website one day ….but join up to get weekly emails and you might get in earlier
https://www.clarecapital.co.nz/tech-insightsI’m

[sb9]

Looking good now, seems as though NZX pushes it down in the morning and goes up once ASX opens.