Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Mate the state of your posting history.
OBD at 37p
“ This is just getting started. Market cap doesn’t reflect its world class position with balance sheet transformation and opportunities in other geographies. Going to go a lot higher than here. 13m volume already today!!”
Today hit 27p
Glass houses and all that
What is there to be pleased about not making a profit . THERE not making enough .20 DINERS 11 million profit need to make 20000 a week gross per outfit . MY family are in this game
Hopefully no one got caught up in the ramping here
Results soon, I expect a few want to see numbers and will then buy considering the current cap. But we have a new growth strategy and opening new restaurants- will be a good forward statement imo. Plant your seeds early.
In latest report from our new tr1 holder.
Thirdly, we have invested into Comptoir Libanais a chain of around 30 Lebanese restaurants predominantly in the UK that have impressively traded profitably through both one of the toughest environments for the sector in living memory and boardroom disruption. Despite this resilience and the subsequent assembly of an impressive new board and leadership team, the sector and personnel headwinds saw the shares de-rate to a discount to the material net cash balance of the group, leaving a profitable, growing restaurant chain with a brand that references well trading at a negative value. The group floated in 2017 at 50p with 15 restaurants, it now has around 30, which are trading profitably with a net cash balance in excess of 6p/share but we have been able to invest in the company for less than 5.5p/share.
Whilst restaurants do not typically lend themselves to our investment strategy, the margin of safety provided by a net cash balance that was larger than the market cap and the resilience of the core business trading created a basis for further analysis. Further due diligence revealed the upside potential of a quick-service-retail franchise roll out via the international Shawa brand. This potential is to be explored under new CEO Nick Ayerst, who joined from a background at LEON and The Restaurant Group and Chair Beatrice Lafon who has an impressive private equity background, both of whom reference strongly. We have noted with interest the near doubling of the Net Promoter Score of the chain from the mid-40s to 80+ under the new team and, having visited a number of sites ourselves, there is noticeable improvement in the menus and their contents.
How could he do this? At 47.6% he is still classed as a "minority" shareholder (less than 50%) , so the most he could do is block special resolutions
Would it be as simple as proposing an offer of 2p to the board and then voting with his 47.6% holding in favour, and how many other shareholders would need to agree? Or he could just block any AGM resolutions until the board agrees?
If he takes it private at 2p it’ll be a painful lesson for PIs
They were also proposing to dilute the company (and him) at multi year lows. Look at it now, more cash than cap.
That’s the huge risk seeing as he has so many
Look at the reasons why all the old directors left
Ceo begins his remit. Growth story starts here.
https://www.restaurantonline.co.uk/Article/2022/10/14/nick-ayerst-appointed-comptoir-group-ceo
Creeping up again. You should really research this. Great little growth story going on with franchises, new Ceo ex LEON and Restaurant group guy.
£9.9m cash and £7m market cap.
I can see it doing well into end of the year.
Tr1 buyer of the large sell other day.
Hungry? Feast with Tony, the founder and largest shareholder. Looks nice tbh!!
https://www.instagram.com/p/CwCVSDLollk/
It’s a pretty tight free float. I’m sure about 80% is held by ceo and others. Can be hard to buy at times when it gets busy. For me, sit and let value play out.. 10p cash
I know a few people who couldn't guy a bean this after
Looks that way. Huge trades cleared.
They’re arguably in better shape now than at IPO.
Good cash, 10p per share. Excellent Ceo who is experienced with franchise growth.
Had 15 restaurants at IPO now has 28
Floated at 50p lol
Looks like the seller is out.
They have 10p per share cash, currently 6p
Floated at 50p with 15 restaurants- now have 28
New CEO, ex LEON franchise / expansion guy and 15 years high up at Restaurant group.
Opened franchises in Qatar and Stansted airports.
£7m market cap. Yeah it’s low volume, but tuck a few away. It’s good value imo, in better shape than it’s ever been.
https://www.thecaterer.com/news/comptoir-group-restaurant-franchise-expansion
https://www.thisismoney.co.uk/money/markets/article-3652992/Pippa-s-favourite-restaurant-makes-50m-market-debut-Comptoir-Libanais-chain-founded-Algerian-street-boy.html
Looks undervalued. Trading below cash levels. Took a small position for a trade.
Hi all, looks good this share. Valued less than cash value... BUT RNS advises majority shareholder looking to create personal wealth instead of shareholder wealth by their appointments. Is this something that can be taken up with the FCA if the share price continues to fall further. Really tempted but unsure of Tony's plans....
Appreciate thoughts from current holders (and warnings from bears). thanks
Wish we had more clarity on future plans, safety of the business, and reasons for the board changes. If Chaker Hanna starts to sell down his stake this may create downward pressure (may have already happened) but possibility improve liquidity and the tight float.
https://www.camdennewjournal.co.uk/article/taki-knifed-to-death-in-moment-of-madness
Must have a difficult year for Mr Kitous.
They have pressed ahead with the Stanstead opening being the first since the board changes. Hopefully more expansion to follow.
Seems to be more emphasis on leveraging the successes of Hannah but I think the staff will suffer as he worked closely with them and it was an early growth business still. The SP has not suffered but it cannot be a good time to mobilize merger/takeover deals for quick profit and the previous board were best for recessionary times.
https://www.lse.co.uk/rns/COM/board-changes-and-appointment-of-nomad-broker-ibv48v0ov1lxq1q.html
The drama continues.
I wonder is Chaker Hanna will start selling down his stake now
Exactly my thoughts doze. I bought a couple of tranches during / after lockdown and took advantage of the recent spike to exit with a decent gain (which my portfoli greatly appreciated). I had always intended to jump back in when the opportunity presented, the results have been very encouraging. I am now hesitant to jump back in given this bit of news, coupled with cost of living crisis it makes it just that but riskier that I want to be right now. A statement to clear things up could push me one way or the other.
Is Kitous just throwing his weight around and has no real plan. Perhaps status quo prevsails here.