Liberty Posted December 14, 2020 Author Share Posted December 14, 2020 Couple more, including a public one in Poland: TSS makes a cash offer for all the issued shares of Simple SA (SME PW) at a price of PLN 13.01 "Simple SA is a well-established VMS platform in Poland, with a position in the public segment, especially within Universities, Hospitals, and Scientific Institutes" financials here: "TSS does not own shares, but has today signed an investment agreement with shareholders representing a majority of the total outstanding shares." "The company had revenue of PLN 47m in 2019 and has 230 employees. (...) expected to be completed in Q1 2021." And: Perseus acquired Selectapension Ltd (UK) "SELECTAPENSION provides market leading pension and investment planning tools and services for Financial Advisers in the UK." "comparing over 200 products and over 50 Providers" Founded in 2004 31 employees h/t @pearnick (follow him for up to the moment M&A on CSU) Link to comment Share on other sites More sharing options...
Liberty Posted December 16, 2020 Author Share Posted December 16, 2020 100th acquisition at Jonas! "Jonas acquired RewardOps (Canada), 100th acquisition "an engagement commerce platform creating positive disruption in the loyalty space." "The RewardOps platform surpasses 2M reward orders processed" (2019) 58 employees Founded in 2013" https://jonassoftware.com/jonas-software-acquires-rewardops h/t Pearnick and Chris Peng Link to comment Share on other sites More sharing options...
Liberty Posted December 17, 2020 Author Share Posted December 17, 2020 Writeup on CSI: https://seekingalpha.com/article/4395117-constellation-software-is-strategic-crossroads Link to comment Share on other sites More sharing options...
Liberty Posted December 19, 2020 Author Share Posted December 19, 2020 Topicus back on the calendar: https://www.csisoftware.com/category/press-releases/2020/12/18/constellation-software-inc.-files-final-prospectus-and-declares-dividend-in-connection-with-proposed-topicus.com-spin-out Link to comment Share on other sites More sharing options...
gary17 Posted December 19, 2020 Share Posted December 19, 2020 hi Liberty any idea how much the spin-out shares might be worth ??? TIA Link to comment Share on other sites More sharing options...
Liberty Posted December 19, 2020 Author Share Posted December 19, 2020 hi Liberty any idea how much the spin-out shares might be worth ??? TIA Some people had estimates, I don't remember off the top of my head... Real answer is we don't know for sure, we'll see ¯\_(ツ)_/¯ Link to comment Share on other sites More sharing options...
sane Posted December 19, 2020 Share Posted December 19, 2020 Anybody have a link to the final prospectus please? I cannot find it and the September 21, 2020 was Preliminary. Thanks. "Constellation announced today that it has filed and obtained a receipt for a final prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in connection with the proposed spin-out." Secondly, recent announcements and filings seem less shareholder friendly to me. Almost as if they don't want shareholders to be able to easily understand what they are doing. Specifically I mean: tax treatment of spin; reasons for delay of spin; final prospectus of spin. Maybe my mistake, or I mis-understand the regulatory constraints. Link to comment Share on other sites More sharing options...
snowball82 Posted December 19, 2020 Share Posted December 19, 2020 Anybody have a link to the final prospectus please? I cannot find it and the September 21, 2020 was Preliminary. Thanks. "Constellation announced today that it has filed and obtained a receipt for a final prospectus with the securities regulatory authorities in each of the provinces and territories of Canada in connection with the proposed spin-out." Secondly, recent announcements and filings seem less shareholder friendly to me. Almost as if they don't want shareholders to be able to easily understand what they are doing. Specifically I mean: tax treatment of spin; reasons for delay of spin; final prospectus of spin. Maybe my mistake, or I mis-understand the regulatory constraints. All available on SEDAR Link to comment Share on other sites More sharing options...
sane Posted December 19, 2020 Share Posted December 19, 2020 Thanks for your reply. I missed it under Topicus.com SEDAR filings because the Dec 18 2020 Final long form prospectus is posted below/before the Sep 21 2020 Decision document (Preliminary). My mistake. Thanks again. Link to comment Share on other sites More sharing options...
CanadianMunger Posted December 19, 2020 Share Posted December 19, 2020 What are the tax implications for Canadian holders in non-registered accounts? Link to comment Share on other sites More sharing options...
snowball82 Posted December 20, 2020 Share Posted December 20, 2020 What are the tax implications for Canadian holders in non-registered accounts? [/quote Unless we get more info it seems taxable like a dividend. If so I do not like the huge fiscal impact of the transaction. Link to comment Share on other sites More sharing options...
brianr27 Posted December 21, 2020 Share Posted December 21, 2020 What are the tax implications for US holders? Link to comment Share on other sites More sharing options...
KCLarkin Posted December 23, 2020 Share Posted December 23, 2020 CSU is officially a 100x bagger! h/t @GabrielCoBi $CSU IPOed at C$17.00 per share on the 11th of May 2006. Today the stock closed at C$1773,17. My first purchase was at $135, so still > 10x. Unfortunately, I started very small. Link to comment Share on other sites More sharing options...
Liberty Posted December 23, 2020 Author Share Posted December 23, 2020 CSU is officially a 100x bagger! h/t @GabrielCoBi $CSU IPOed at C$17.00 per share on the 11th of May 2006. Today the stock closed at C$1773,17. My first purchase was at $135, so still > 10x. Unfortunately, I started very small. Look like we started around the same time. I know an investor who I think started buying in the 20s. She still holds it afaik. Link to comment Share on other sites More sharing options...
chrispy Posted December 23, 2020 Share Posted December 23, 2020 Nice work! Out of curiosity, were you two able to buy more as the price increased? I find that to be tremendously difficult Link to comment Share on other sites More sharing options...
Liberty Posted December 23, 2020 Author Share Posted December 23, 2020 Nice work! Out of curiosity, were you two able to buy more as the price increased? I find that to be tremendously difficult Yeah, I bought more over time up to the mid-300s, then just held. It is indeed difficult. Only thing harder is buying back something you sold much lower. Link to comment Share on other sites More sharing options...
gary17 Posted December 23, 2020 Share Posted December 23, 2020 looks like market is pricing the spin off at $67 ! Link to comment Share on other sites More sharing options...
Liberty Posted December 23, 2020 Author Share Posted December 23, 2020 looks like market is pricing the spin off at $67 ! Hard to say, other software/tech stocks are down today, so some of that is volatility. Link to comment Share on other sites More sharing options...
KCLarkin Posted December 23, 2020 Share Posted December 23, 2020 Nice work! Out of curiosity, were you two able to buy more as the price increased? I find that to be tremendously difficult My last buy was at $526. But that's because I made a very poor decision to average in when I started buying. And I also missed many great buying opportunities since then. I was way too timid, but luckily Mark Leonard has grown this into my largest position. Link to comment Share on other sites More sharing options...
Liberty Posted December 23, 2020 Author Share Posted December 23, 2020 New acquisition in Quebec by an Harris BU: Lateral Innovations Inc. (Lateral), a Quebec-based waste management software provider. https://www.newswire.ca/news-releases/pg-solutions-expands-with-the-acquisition-of-lateral-innovations-inc-a-quebec-based-waste-management-software-provider-820793310.html Link to comment Share on other sites More sharing options...
sginvest Posted December 24, 2020 Share Posted December 24, 2020 Newbie here. I'm a US holder, and I have CNSWF shares. Will I still get the Topicus shares? The OTC website shows the special dividend but I just want to be sure as I haven't been through this situation before. https://www.otcmarkets.com/stock/CNSWF/security I'm also feeling a little pissed as I will lose 0.85 worth of fractional shares in one account. I didn't realize today was the ex-dividend date or else would have purchased another share to round it off better. Link to comment Share on other sites More sharing options...
Liberty Posted December 24, 2020 Author Share Posted December 24, 2020 Newbie here. I'm a US holder, and I have CNSWF shares. Will I still get the Topicus shares? The OTC website shows the special dividend but I just want to be sure as I haven't been through this situation before. https://www.otcmarkets.com/stock/CNSWF/security I'm also feeling a little pissed as I will lose 0.85 worth of fractional shares in one account. I didn't realize today was the ex-dividend date or else would have purchased another share to round it off better. I own the Canadian version, so not 100% sure, but what I've heard from Americans who have owned OTC stuff in the past is that it may take a while to show up in your account, and you may even have to contact your broker to make sure it happens, but you have a right to it and it should be there eventually. Link to comment Share on other sites More sharing options...
gary17 Posted December 24, 2020 Share Posted December 24, 2020 I got the new shares showed up in my IB account priced at 40$ Link to comment Share on other sites More sharing options...
sane Posted December 24, 2020 Share Posted December 24, 2020 trading to start late January? anyone have a more solid date? Link to comment Share on other sites More sharing options...
choubris Posted December 25, 2020 Share Posted December 25, 2020 Hi everyone, this is my first post - found this thread and forum via Liberty's Twitter (thanks so much for all the info!) and I've now read through it all. I already had read all their Q&A and the President's Letters from the website, but I think I'll have to re-read them to properly digest. Regarding Topicus: 1. I use Interactive Brokers and my TOPCS shares showed up with a price of 39.77, but the symbol had a closing price of 39.98. Anyone got any idea how this happened / what this is about? 2. Who's planning on buying more TOPCS when it starts trading? How do you think about allocation compared to CSU or other parts of the portfolio? I'm in the lucky position that I still got some cash set aside for an opportunity and I guess that will all go into some mixture of CSU and TOPCS. trading to start late January? anyone have a more solid date? Their press release says "Trading of the Spin-Out Shares on the TSX Venture Exchange is expected to begin approximately 30 days following completion of the acquisition of Topicus." If I understand correctly, the acquisition isn't yet completed, and I assume it won't complete for another couple of days even under the most favorable circumstances. So early Feb at best, probably mid to late would be my guess? Link to comment Share on other sites More sharing options...
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