Peter Jones Tycoon ITV Show Bladez Toyz Shares

diamondsp

I already have a share portfolio so having to have them at my Share Centre account isn't an issue for myself.

What I do have an issue with is the valuation. I was quite excited to be told I'd won this in the first place and for the result to turn out to be 'wait 6 years and then get twenty quid' is obviously galling. This is surely by far and away the worst ever pricze for a TV phone-in competition?

If it fairly valued the company then I could accept it but as it is below even net assets then I do feel indignant about it. And I'm not convinced it is a case of 'hold onto the shares and take your chances' - isn't the resolution to take the company private? So if a majority vote in favour then your hands are tied.

Paul_Smith_2790

Having finally found my certificates I'm happy to take the deal it seems a reasonable offer and I can understand why they would want rid of 2000 shareholders who simply won their shares in a competition and aren't really engaged in the business in any way.

Kalulu

I hate the idea of losing these shares when we have waited so long for something to happen, but if kept with the share centre they will start charging account fees as I do not hold any other shares with them, or else it will cost more than I am being offered to register them, so reluctantly I guess I will have to accept the offer. Expect eBay to be flooded with the complimentary helicopters!

mjm3346

diamondsp wrote: »

If it fairly valued the company then I could accept it but as it is below even net assets then I do feel indignant about it.

If they haven't issued any more shares since the competition ran then the £20 offer = company value of £160,000 without taking the 2,000 toys into account which would seem fair enough as the last accounts I have seen show a net worth below £200,000 so there would be just about nothing left after the cost of realising the assets was taken into account.

diamondsp

Kalulu wrote: »

I hate the idea of losing these shares when we have waited so long for something to happen, but if kept with the share centre they will start charging account fees as I do not hold any other shares with them, or else it will cost more than I am being offered to register them, so reluctantly I guess I will have to accept the offer. Expect eBay to be flooded with the complimentary helicopters!

Or lots of nephews and nieces receiving random unwanted Christmas presents!

I got the more detailed offer details thorugh today - if you don't accept the offer you can have your sgare certificate posted out to you and hold your shares in certificate format rather than via the Share Centre, so still seems to be an option to remain as a shareholder.

diamondsp

mjm3346 wrote: »

If they haven't issued any more shares since the competition ran then the £20 offer = company value of £160,000 without taking the 2,000 toys into account which would seem fair enough as the last accounts I have seen show a net worth below £200,000 so there would be just about nothing left after the cost of realising the assets was taken into account.

But this doesn't ascribe any value to the company itself, where it has got itself in these past 6 years, or any future profits to come.

The detailed offer document contains a lot of info about mistakes made in the early days, and specifically a couple of big problems that cost a lot of time and money.
It goes on to say how the board and the company have overcome all of this, restrategised, and are now confident in their new business model and approach moving forwards.
They also mention how 80% of sales in the toy industry are made in the 8 weeks leading up to Christmas.

So they have a new strategy they are confident in. So when are shareholders asked to decide whether or not to give up their shares for twenty quid? Oh yes, in the middle of that 8 weeks where 80% of sales are made. Any chance at all to make an informed decision?

Say they are right and have finally hit on a more successful strategy, and have a good Christmas period. Say they come out of it with £100k profits (say 30,000 sales with average profit £3 per sale) - on a PE of 8 this would value the company at £1,000,000 (including net assets).

Surely you can't help but question the timing of all of this? Things have turned around, they've overcome the major hurdles of the early days, they have a successful new strategy in place, and suddenly there is a mad dash to offload shareholders before the Christmas figures come in?

Bear in mind they can much more easily attract further outside investment if they can ditch us 25% off on the fly.

If this was an innocent offer in shareholders' best interests as it purports to be, I'd love to know why it's being rushed through BEFORE the Christmas sales figures are in, rather than waiting another couple of months to see if the company managed to turn a decent profit. We've already waited over 6 years after all.