Ridiculously small fine, probably boosts the stock price more than the risk of the fine disappearing.
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Information about Kindred’s performance at the end of the year and during the World Cup. It didn’t go quite as planned.
The following actions are expected:
While the weaker than expected performance during the fourth quarter can largely be attributed to a few one-off events explained above and the headwinds in Belgium and Norway, actions are being taken to further improve profitability in the short- and medium-term. These include but are not limited to:
Reducing losses in North America by decreasing marketing spend prior to the Kindred platform being launched
Re-prioritising investment projects to free up capacity for key strategic initiatives and reduce short-term costs
Further optimising the Group’s operating expenses to reduce cost growth and improve scalability
Could this mean they are putting the development of their own betting platform on hold, or that they are accelerating development?
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Pre-market quotes showing a big drop, nearly -20%. Overreaction in the air?
Here is Kindred’s webcast on inderesTV.
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Fines from the UK:
Kindred Group will pay GBP 7.1 million and has received a warning to conclude regulatory reviews by the UK Gambling Commission related to historic AML (affordability) and social responsibility shortcomings.
Kindred accepts that certain systems and processes in place in 2020 and early 2021 were not in line with Commission expectations around affordability. As a result of those actions taken, Kindred recognises that similar cases to those highlighted by the Commission are unlikely to happen today within its new framework.
I wonder what exactly the background behind this has been?
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130kr/share, so a 25% premium. Quite okay 
Especially since the share price has risen 10% in a week.
This is my first time being involved in a company receiving a takeover bid.
What is the best thing to do now that an offer has been made? Is it worth selling immediately at that price, or how is it eventually realized into cash? The exchange rate is at least one factor in deciding when to exit if the crown’s exchange rate rises?
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At least it’s worth considering that it is always possible for a competing takeover bid to emerge. We saw a few of those on the Helsinki Stock Exchange last year. It’s also presumably possible that the bid is rejected at the meeting, in which case the share price will likely drop a bit. These are often long processes before the money from the takeover bid actually ends up in your account.
I’m in no hurry to sell, so I’ll just wait and see what happens👍
Found this with a quick Google search: Helsingin pörssissä nyt paljon ostotarjouksia – mitä ne ovat ja miksi sijoittajan kannattaa olla niistä kiinnostunut? | OP Media
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The share price is a good 6% below the takeover bid. The acceptance period isn’t until November. So, do you sell now and invest the money elsewhere, or do you take a 6%–7% return by holding until November? That is the question.
I wouldn’t want to sell myself either, but… shareholders controlling a 27.9 percent stake have already committed to accepting the offer.
Of course, isn’t 80-90% required for it to go through?
Edit: 90% is required.
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Yes, 90% “the Offer being accepted to such an extent that FDJ becomes the owner of shares in Kindred representing more than 90 per cent of the total number of shares in Kindred”.
Management recommends accepting the offer, so it should go through.
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Has there been any update on the tender offer?
Q2 looked quite good.
Hi,
I think there are people here who have followed Kindred and are familiar with the situation, so could someone help a beginner with the following questions:
A) Is it the case that the Kindred sale has gone through for good and it will be delisted? When is the last trading day?
B) If I wait for the proceeds from the sale, will there be an automatic withholding tax to Sweden, or will the money arrive in full to my account?
C) Roughly how long does it take for the money to arrive if I don’t sell the shares on the exchange myself?
Thanks for the answers
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Tender offer
Announcement text :
This event it is an extension on the event id *** event as the offer is now unconditional, the shareholders
who have already accepted or are accepting the offer during the extended acceptance period do not have the
right to withdraw their acceptances.
All conditions are met or have been waived.
Deadline extension will be applicable only those clients who have instructed as no action or not instructed.
Once instructions have been submitted, will be irrevocable
Clients are advised that instructions submitted for non default option can’t be changed or amended after
deadline is passed.
Further, clients are advised to not to sell the holdings once they instruct to exchange.
Holdings instructed to exchange will be blocked for trading.
Any charges or fee for the failed trade will be passed to clients.
In the case where scaleback of exchange occurs, holdings not accepted will be unblocked and proceeds for the
accepted exchange instructions will be booked as soon as practical upon receipt from the agent.
Exchange may be subject to scaleback based at the account level.
We hereby inform the client that, according to the laws of the country of its incorporation or the laws of the
country of residence of its customers and the laws applicable to an issuer of securities which are subject to
corporate actions, the client, will decide to participate or not to such corporate actions upon its sole and
Corporate Action
Tender offer
Instrument: KIND_SDB:xome (ISIN: SE0007871645)
Event Id: 9285988
Effective Date: 16-Oct-2024
Reply Deadline: 15-Oct-2024 21.00.00
Payment Date: 29-Oct-2024 00.00.00
exclusive discretion and judgement.
The client will bear any detrimental consequence arising out of or connected to such instruction.
For the avoidance of doubt, any information in relation to the corporate actions sent to the client may have
been obtained from sources which are not under the bank’s control and accordingly, the bank shall not be held
responsible for the truth and the accuracy of this information.
Please refer to the prospectus of the event for any further details.
Information to be followed
Restrictions: the offer document is not an offer, whether directly or indirectly, in australia, hong kong japan,
new zealand or south africa or in any other jurisdictions where such offerpursuant to legislation and
regulations in such relevant jurisdictions would be prohibited by applicable law.
How does this work now, since I haven’t accepted the offer but apparently the offer has already gone through as FDJ already has 92% of the shares? Will the money be paid later than to those who accept the offer by Oct 16th..?
I accepted the original offer and the money arrived on Friday.
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I copied a bit from the Sijoitustieto side and edited it:
When will Kindred be delisted? When is the last trading day?
B) If you wait for the money from the deal, will some withholding tax automatically go to Sweden, or will the money arrive in full in your account?
C) Roughly how long does it take for the money to arrive if you don’t sell the shares on the exchange yourself?
Does anyone know? At least for me, Kindred is still showing in my portfolio on the book-entry account (AOT) side.
Last trading day 11.11, by accepting the offer you should receive the funds around 22.01. I don’t think withholding tax can be applied to that since it’s a sale.
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