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This nugget, Topdog 1's post and results. Mon, 2nd Apr 2012 07:36 Six-a-side football pitches operator Goals Soccer Centres has confirmed it has received a preliminary approach from the Ontario Teachers' Pension Plan which may possibly lead to an offer for the company. The statement was made in response to press speculation that the private equity arm of the Canadian pension fund is interested in taking the group private. The pension fund has a track record of owning sport-related assets, being the owner of Toronto FC, a club in the Canadian football league. Goals, which recently announced a 21% increase in annual pre-tax profit despite a softening of demand for corporate events and birthday parties, has 43 football centres, including one in Los Angeles. JH Can anyone give me the link to Simon Thompson’s tip Re TopDog 1’s post below last Monday as I would like to re read it. Simon Thomson just tipped goal with possible 20% upside on a bid before 11th June
I am interested in this sector but cant see a future in this group. limited future site pipeline..lots of debt..revenue performance built on pricing rather than activity and plenty of capital needed for refurbishments. I don't think the takeover will happen unless its a very cheap deal and as the management hold a lot of stock, cant see it happening in my opinion. good luck though if you have faith.
Hi mj653 i bought in on monday afternoon its good to see someone else who is keen on this share as there are not many views on this board. can you see the bid coming off
Hi, A question - do you want to buy more shares yourself in GOAL? If I sell out they might be cheaper!!! It's always a difficult judgement call in the buy, hold or sell front. - But its good fun if one wins.
I thought they were taken over for 52p a ahare a premium of 40% above the share price and goals revenue is increasing every year, also in their trading statement last month total sales were 6 per cent ahead in the first eight weeks.
It was Indeed!
Hi can i ask what the other operator was called that you lost 25% with, was it powerleague
Cant see this price going anywhere but down! The stock of sites needs big investment, uptake in use is generally on the decline. If you buy before the proposed bid..get out quick IMO! I got caught with the other operator in this field of business and got hit for 25%.
Took a penalty shot yesterday. The ball seems to be on target and may arrive in GOAL by the 11th June. Looks like a good short term drop kick (whoops rugby term!)
Simon Thomson just tipped goal with possible 20% upside on a bid before 11th June
Extension until 14th May 2012. Cheap price at the mo considering the offer price....
Extended until 14th May. No more extensions after that/ This price is cheap at the mo.....
Six-a-side football pitches operator Goals Soccer Centres has confirmed it has received a preliminary approach from the Ontario Teachers' Pension Plan which may possibly lead to an offer for the company. The statement was made in response to press speculation that the private equity arm of the Canadian pension fund is interested in taking the group private. The pension fund has a track record of owning sport-related assets, being the owner of Toronto FC, a club in the Canadian football league. Goals, which recently announced a 21% increase in annual pre-tax profit despite a softening of demand for corporate events and birthday parties, has 43 football centres, including one in Los Angeles
Investors pushed up the share price by one-fifth in early trading, after the company confirmed weekend reports that the Ontario Teachers’ Pension Plan, a direct investor in a number of UK assets, had made a preliminary approach “that may or may not lead to an offer being made”. Scotland-based Goals operates 43 sites in the UK, which typically offer players between nine and 14 five-a-side courts, changing rooms, a bar and parking facilities. Founded in 2000, the company listed on the London Stock Exchange in 2004. It lost three-quarters of its value since shares peaked at about 430p in 2007. However, the group doubled the number of sites in that time, including adding its first overseas venue in Los Angeles. Goals said in February that the difficult consumer environment had prompted it to curb growth last year, with just four new venues opening. That “pause in new openings allows strong focus on existing centres”, the management said, and pointed out that 30 per cent of the estate was not yet considered mature. The company produced pre-tax profits of £9.2m on £30.4m in sales last year, which were dented by a disputed value added tax claim. Operating profits were £10.9m, up from £9.9m in 2010. While general and league bookings for the pitches have remained stable, those for birthday parties and corporate events have slipped significantly, as have refreshment revenues. At the year-end results Paul Hickman, an analyst at Peel Hunt, pointed to the company’s work on debt reduction – with net debt standing at £53m as of December 31 – and set a target price of 135p. Mr Hickman said on Monday: “With a patchy recent track record of delivery, independent shareholders could be tempted by a reasonable offer with the eight times ebitda, equating to 158p, paid for Powerleague being a realistic benchmark.” The company’s share price on Friday valued Goals’ equity at £52.8m. The shares rose 20 per cent in early trading on Monday to 128p, falling to 122p by early afternoon. The Ontario Teachers’ Pension Plan is one of Canada’s biggest pension funds, with $107.5bn in net assets. Its private equity arm, which is pursuing the deal with Goals, has invested £2.5bn in the UK
http://www.ft.com/cms/s/0/5c9b2c40-7c91-11e1-9d8f-00144feab49a.html#axzz1qsEIV0gI A comparison to Powerleague's takeover. Looks like the price will continue to rise as GOAL are undervalued at the moment.
Statement regarding press speculation The Board of Goals notes the recent press speculation regarding a possible offer for the Company by Ontario Teachers' Pension Plan. The Company confirms that it has received a preliminary approach from Ontario Teachers' Pension Plan that may or may not lead to an offer being made for the Company. There can be no certainty that an offer will be made for Goals, nor as to the terms on which an offer may be made. A further announcement will be made as and when appropriate. In accordance with Rule 2.6(a) of the Code, the publication of this announcement sets the initial deadline as 5pm on Monday 30th April 2012.
http://www.investegate.co.uk/Article.aspx?id=201204020700205658A
Panmure Gordon downgrades Goals Soccer Centres from buy to hold, target price cut from 116p to 108p
I have used Goals on the odd occasion our regular pitch was unavailable. I have a few calls politely asking me if we would come back and the odd promotional leaflet & e-mail. If they had a few pitches under cover, we would consider moving as the pitches & facilities are spot on.
Director buys, i think we shall see the projected 125p price target fairly soon, looks like a bull flag forming
Thanks, i havnt had a look yet as i have no free funds at present! Would love to buy more here and tesco if i could. See rns dated yesturday another ii buy here c.£800,000. They obviously share my optimism for the growth of this company. £400k is being spent on refurbing current pitches this year, my local goals has got skips in the carpark as they are ripping up pitches one by one. Sometimes the carpark is so full people park out on the main road. The only negative i can say about gosls is they stopped showing sky sports in the bars (atleast at my local goals) and i think this accounts for the c.3% reduction in bar revenues for last year.
Glad you keeping the faith Randy. If ever I doubt this company (and there have been times I tell you), I will read your posts and hang on! Feel pretty optimistic about doing ok on this one eventually. Did you have a look at OPG and ACHL? Would appreciate your thoughts.
This is an AIM share and only a very small % pay dividends, look at companies like CEY, gold producing ftse company with much higher revenue and doesnt pay its shareholders a bean! Also look at holding rns's, there are plenty of ii's with huge holdings here, the lehman brothers had a holding here before they went bust! Recent director statement claims there are a further potential 40 centres that can be opened, therefore potentially doubling the smount of centres. This is a great little growth company.
But the dividend is crap. Not going to attract the institutions imo. Prob one of reasons the SP doesn't get where it deserves.
Lots of reasons why the share price has fallen, just like so many shares out there (mostly in my portfolio!). I basically paid too much for the shares, simple as that. Like you, I feel that the company is very good value at the moment and it looks good going forward, particularly if the new centre in Chester proves its worth. I have bought more shares in the company over the years and my average is around 140p at the moment. Again, like you, would have liked to have bought more around 90p. Good luck to you. If you are interested, take a look at OPG and ACHL, both shares in similar position to Goals in that the share price is low whilst the future looks good. But I have been wrong many times before. DYOR. All the best to you.