PXA - PEXA Group

[Dona Ferentes]

Link has sold 10% of its existing 42.77% shareholding in PEXA Group Limited, representing approximately 4.3% of the issued capital in PEXA. The PEXA Selldown will proceed at $13.50 per PEXA share.

..... following the selldown, Link proposes to proceed with an in-specie distribution of the remainder of its PEXA shares to Link Group shareholders, subject to matters including Link Group shareholder approval. This shareholder approval is proposed to be sought in December 2022 with the Distribution proposed to occur in January 2023.

 

[Dona Ferentes]

Vote on the Distribution Resolution to effect the proposed in-specie distribution by Link Group of all of its 38.49% shareholding in PEXA, to Link Group’s shareholders has been held, with 99.9% in favour.

To implement the Distribution, Link Group will undertake a Capital Reduction, which may be accompanied by a Distribution Dividend, which will be satisfied by an in-specie distribution of PEXA shares to Eligible Shareholders (other than Selling Shareholders).

If the Distribution is approved, Eligible Shareholders (other than Selling Shareholders) will receive one PEXA share for every 7.52 Link Group shares held at the Record Date rounded down to the nearest whole PEXA share.

... this will take place over the new year. How it affects PXA price I'm not sure but definitely the free float is better. And probably inclusion in an index or 2; even a T/O candidate?

Meantime, single digit guidance reaffirmed.

 

[divs4ever]

Vote on the Distribution Resolution to effect the proposed in-specie distribution by Link Group of all of its 38.49% shareholding in PEXA, to Link Group’s shareholders has been held, with 99.9% in favour.

To implement the Distribution, Link Group will undertake a Capital Reduction, which may be accompanied by a Distribution Dividend, which will be satisfied by an in-specie distribution of PEXA shares to Eligible Shareholders (other than Selling Shareholders).

If the Distribution is approved, Eligible Shareholders (other than Selling Shareholders) will receive one PEXA share for every 7.52 Link Group shares held at the Record Date rounded down to the nearest whole PEXA share.

... this will take place over the new year. How it affects PXA price I'm not sure but definitely the free float is better. And probably inclusion in an index or 2; even a T/O candidate?

Meantime, single digit guidance reaffirmed.

as a future PXA holder ( i hold LNK ) i notice the LNK board have organized a share sale for ineligible ( new ) holders of PXA that MIGHT cause a short term dip in the PXA share price , but surely LNK ( now PXA is being divested ) is the more probable take-over target , given the last year in board moves .

 

[So_Cynical]

After years of speculation and anticipation PEXA will list in early July, trading is expected to start at around $17 with a market cap of about 3 billion,

18 months since listing has seen the share price hit $20 before following the housing bubble downward and now trading at close to all time lows under $12, revenue growth continues and the UK expansion has the potential to at least double revenue in the medium term.

 

[Dona Ferentes]

Nice lift yesterday. .... with Pendal Group now taken over and out of the index,

PXA Group Ltd – Placeholder that is currently a constituent of the S&P/ASX 200 following its in specie distribution from Link Administration Holdings Limited (ASX: LNK) will no longer be removed effective prior to the open of trading on Wednesday, January 11, 2023. The PEXA Group Ltd – Placeholder will be removed effective prior to the open of trading on Friday, January 13, 2023, to coincide with the addition of PEXA Group Ltd (ASX: PXA).

 

[eskys]

Gone into trading halt

 

[Dona Ferentes]

Gone into trading halt

Just a pause, for announcement that the .... "in-specie distribution of Link Group’s shareholding in PEXA Group Limited (ASX: PXA) to Eligible Shareholders (as defined in the Explanatory Memorandum in connection with the Distribution dated 22 November 2022) was implemented today..."

.... back trading, and around $12.35

 

[eskys]

Thank you, Donna.

I get the impression that the majority of conveyancing will be done through Pexa in the future going by our recent experiences. Watching this and contemplating an entry...........all the best to holders.

 

[So_Cynical]

Thank you, Donna.

I get the impression that the majority of conveyancing will be done through Pexa in the future going by our recent experiences. Watching this and contemplating an entry...........all the best to holders.

Something like 80% of all Australian conveyancing is done via the PEXA platform, industry standard now.

 

[eskys]

Something like 80% of all Australian conveyancing is done via the PEXA platform, industry standard now.

I'm happy with the way it trades today. Didn't manage to get the low of the day, but good enough.

 

[eskys]

This is my only one not in tatters today

 

[So_Cynical]

Going sideways at about 13 bucks, i topped up (averaged down) earlier in the week at under 13, PEXA is a long play.

 

[eskys]

Has been good trading, range bound for a couple of weeks now, So_Cynical. Appears to be going nowhere, so I feel 'safe'

Going sideways at about 13 bucks, i topped up (averaged down) earlier in the week at under 13, PEXA is a long play.

 

[Ferret]

For those that got PXA from the LNK demerger, the ATO ruling on the cost bases is out now.

Included in a LNK ASX announcement today and also available on the Link Group and ATO sites.

 

[eskys]

For those that got PXA from the LNK demerger, the ATO ruling on the cost bases is out now.

Included in a LNK ASX announcement today and also available on the Link Group and ATO sites.

Thank you, Ferret. So, the way I read it.........good for PXA (I didn't get it through LNK)

 

[eskys]

PXA has a webcast on the 23rd Feb at 10.30am. Need to register.

It's not on this reporting season's calendar, not that I can see.

 

[Dona Ferentes]

PXA has a webcast on the 23rd Feb at 10.30am. Need to register.

It's not on this reporting season's calendar, not that I can see.

PEXA Group Limited, operator of the world’s first end-to-end digital property exchange platform, will be releasing its results for the half year ended 31 December 2022 (H1 FY23) on Thursday, 23 February 2023.

Group Managing Director and CEO Glenn King, and CFO Richard Moore, will be hosting a briefing session for investors and analysts at 10:30am AEDT on the same day.

Participants can register for the conference call via the link here. Registered participants will receive their dial in number on registration, a calendar invitation, and a unique PIN to access the conference call.

 

[finicky]

FY22 per share (Commsec)

Investment Income = 1.58
Earnings = 0.12
Book Value = 7.13
ROE = 1.7%
No dividend

This perplexes me even after some googling. Normally, as a neanderthal, I breeze past a low ROE company. Why is this a 'quality' company? Or my main confusion: Why is investment income treated differently to earnings? If you took them together, ROE would be a very interesting 24% instead of a paltry 1.7%.
Anyone care to dissertate upon this?

Why resilience and uniqueness spell sustainable competitive advantage (and two stocks that meet the brief)

WaveStone Capital’s Henry Hill believes success comes down to sustainable competitive advantage and exploiting the herd. Here’s why.

www.livewiremarkets.com

Not Held

All Data Weekly

 

[divs4ever]

*** It's a monopoly in Australia, with very high margins, and very low incremental capital needs, so it generates a lot of cash flow. ***

and then goes on to enumerate the various headwinds .

so where is all this cash-flow going , given the 'very high margins ' one might think a 10% reduction in margins would only be a little annoying .

does management suspect the UK side of things are going to go very sour ( like they have for several other Aussie companies , including WES )


i hold PXA courtesy of the LNK demerger

 

[Knobby22]

*** It's a monopoly in Australia, with very high margins, and very low incremental capital needs, so it generates a lot of cash flow. ***

and then goes on to enumerate the various headwinds .

so where is all this cash-flow going , given the 'very high margins ' one might think a 10% reduction in margins would only be a little annoying .

does management suspect the UK side of things are going to go very sour ( like they have for several other Aussie companies , including WES )


i hold PXA courtesy of the LNK demerger

I had a look out of interest.
Why is their so many expenses e.g. marketing, management, director fees?

Why does their reports read so badly? It lacks clarity.I get the feeling they lack focus.

Looked at the brokers, 5 with strong buys, 1 with sell, the other strong sell.
High volumes but lower SP, CFO leaves.

They could make big money but I worry they could end up with low growth and low profits due to competitors (UK?) especially or government legislation.

Unconvinced and won't be buying any. Could be wrong though.