I got into Cardpoint at 1.11, they are now mid 40's.
Is it time to take the profit or are they going higher in the next two months??

any views?

May 15, 2004

HBOS makes a withdrawal
By Nick Hasell



HBOS is to sell part of its automated teller machine (ATM) network in the latest move by high street banks to hand over their running to independent operators.
The Times has learnt that HBOS is in advanced talks to sell 800 of its 3,500 ATMs to Cardpoint, the fast-growing AIM-listed cash machine operator. The deal is expected to be announced before Cardpoint reports first-half results on May 27.



The deal, whose value is thought to be at least 30 million, will be accompanied by a share placing worth about 25 million through Evolution Beeson Gregory, Cardpoints stockbroker.

The ATMs being sold, representing just under a quarter of the HBOS estate, are in remote locations such as petrol stations and convenience stores. It is understood that the cost of transporting cash and maintaining such machines makes them less attractive to the bank than ATMs located at its own branches.

The transfer of ownership is not expected to lead to any change in terms for customers using the machines. Although many independent ATM operators levy a 1.50 charge on the withdrawal of cash from their network, Cardpoint is expected to generate revenue by charging fees to HBOS.

The deal will allow Cardpoint to close the gap on Moneybox, its AIM-listed rival, which is the largest quoted independent ATM operator in the UK and runs machines on behalf of Bradford & Bingley, Abbey and Norwich & Peterborough Building Society.

Cardpoint has made two acquisitions since floating two years ago, the latest being last years purchase of the ATM estate of Securicor. It has also recently expanded into Germany, whose growth potential is believed to be greater than that of the UK.

The UK is the third largest ATM market in Europe, behind Germany and Spain. Although independents operated 31 per cent of UK ATMs as at the end of last year, they were responsible for only 3 per cent of all transactions, leading analysts to suggest there is potential for massive growth.

The sector has expanded rapidly since the Governments review of payment systems four years ago through the Cruickshank report, which prompted Link to give independent operators direct access to its network.

anybody else holding this at the moment,going the right way today,a recent buyer myself,very happy.

Yes DD Bought in last year as long term,then with a TP of 1.80, dont know what the latest TP is, but I'm happy at the moment .

morning panic,a recent buyer in the mid 1.20,but it has dropped back a bit since,but now going the right way again.with there recent deal buying those cash machines,there is good profits on the horizon here.

up allmost 5% today and going well.

ticking along.

a real bump late on today down 8%ish , my be linked to the moneybox issue`s.

Im sure it is Dave. Moneybox down 31% and could fall further in the morning. Seemingly poor July and August figures. Wonder if Scott Tod and this one have been impacted, must say it was a bit of a shock.

cheers GF.

in the news today,it seems to have a a bit of interest again.

I hope so - I made a bit of a mess with this one - having taken profits a few months ago - came back in at 110p which I thought was a bargain - and still do given the product

oakapples,count yourself lucky 126p for me , but i still think there`s value in it hope i am right.

A pick up today,will be out soon.

Glad to be gone from cash.

No sentiment but good luck all.

dave looks like this is gonna dazzle again!

Anybody any ideas as to how to play this one? Results look good but seem to be caught in limbo as to whether to get back in.

Andy, I have a few of these.

Results were good but prices tend to drift down afterwards nowadays it seems.

IMO the HBOS acquisition has been a success and retention rate of approx 50% more than anticipated.

Future earnings look good and I reckon on an eps for next year of approx 13p and rising to 18p for 2006.

Share price may tread water for a bit but theres 50% to be had in the next 12 months imo.

capa

Cheers capa. Think i'll give it a punt.

Let the trend be your friend!!!!!!!

Director buy !!!

capa