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Dom-Bella, it is my opinion your posts are deliberately negative, each and every one, in an attempt to present yourself an opportunity to buy in at a lower SP. I do not have a problem with that, we all have our own investing strategies. I was hoping for constructive conversation when asking posters their opinion on why Eldose was heavily buying in December. It is unintelligent to suggest an investor of his magnitude wasn’t aware of the rising costs approaching in 2024, namely business rates and payroll costs. This would not have just come as a surprise in the last 3 months as you are suggesting, it was widely known costs were to increase from the start of April 24. There was a good reason Eldose decided to buy up 16% of the companies shares. You and I do not know the reason, I do wonder however if this will come to light over the course of the next few months.
The silver lining is usually when it's wetter than normal in March/April the summer is usually drier. Should RBG last that long...
Yes, early easter and bad weather isn't a good combo forpubs I imagine
Suppliers will want there bills paid in case it goes under . Let’s see if Easter is good but the weather looks really bad.
I think he didn’t realise in the new year 2024 things got really tight and customer numbers drop and cost go higher .burning cash . Also I bet the supplier are asking for money before goods now . A big problem unless NatWest lets them have more ££££££££.
I’m sitting tight, hopeful that part or all of the business will be sold. I commented in December that I thought part of the business (excluding Peach Pubs) would be sold. There is hope. Eldose Babu was buying heavily in December, the last purchase on 21st Dec was over 5p a share and took the holding to over 16%. As an investor of this magnitude he would have done due diligence. I can’t get my head around the heavy buying from Eldose in December at 5p a share, fast forward just 3 months to 1p a share. Surely Eldose hasn’t just thrown over £1millon away in less than 3 months ! Surely he knows more than us pi’s ! What do others think ?
Still doesn't quite sit right with me that they spent £16m on Peach (albeit with debt) and now company worth £2.5m. But really is looking like admin on the horizon. But as you say no point in selling now.
Exactly, the business model looked fine, now it is not, so you adapt or perish.
There are too many establishments. Severe pruning is required to survive the current climate. But survive it could until better times ahead. Long term investment? Yes and would be fine by me.
A new government that is not as tight with the purse strings would definitely help though... :-)
Not much point for many investors at 1p. To think a take over at 100p was rejected. Not by the BOD but by the institution shareholders. Most long term investors would not cover costs if they sold. This company has just been unlucky I think. The company was booming, the business model looked fine, the bars were packed, plenty of cash....then came covid and a cost of living as taxation soared to 70 year levels. Wars, inflation, interest rates....no-one could have seen any of this. Most costs have soared. The response of only opening at peak times was good. In 10 years or so a new set of bars like this will boom. Now is just not the time.
...more dead shops on more High Streets. If I owned these, which luckily I do not, I would drop them quick as a too hot crossed bun!
Sentiment (or Shorters) could drive this down to below 0.1p. The real value is what somebody is prepared to buy it for should they want it before insolvency beckons (6-12months IMO unless the board can radically change their business model that appeases creditors and attracts investors)
I shall do what amateur investors are good at, I'll keep my shares and hope for the best...
Most of the value has gone anyway...
Heading for under 1p .
I agree-any restructure is going to need hard cash.The issue is at what cost
There is a reason the company is down 50 per cent today ianfm. Because it needs money, or lights out .
They are on high salaries at the moment you idiot, and losing money fast . At no point did I say pay more . But I would give them a bonus’s if they turn it around unlike the current team .
Hope you understand before you loss your money here . Then you may be living outside your means .
One thing for sure at the moment this company is definitely doing that .
What so the new people can ask for high salaries?
you sound like an idiot who is living outside your means.
If they pay down debt you must be a complete idiot investing. So invest 10 million so NatWest can get some of their money back and then pop it . They have first charge and maybe get a few million more back.New investors zero back
No if they what 10 million you need an excellent turn around plan . And the team needs to all work hard fast and long hours to do it .bring in new blood also and bin the dead wood .
They need a new one that understands the place they are in and get busy making decisions fast no ass kissing now. But he will think if I can get another 10 million I get a wage for 6 more months. Another idea is change the senior management team fast .Keep HR as they can do the dirty work getting rid of everyone with a smile.
Really want to know what they will do with the 10mil, pay down debt to reduce interest payments, and some FCF to aid daily running would probably be a good idea.
Lights out...not yet.
New CEO. Definitely. The present one has definitely run out of ideas. Should've been replaced ages ago.
They what another 10 million.
I would say set up a new company and launch a new brand current to today’s market and in places that you can take money more then 1 or 2 days a week .the 10 million will just burn up in 6 more months .
No surprise, the brand is out of date with most bars are located in premium locations within city centres. Lord knows what the leasing costs are.
Time to strip back, rebrand and go back to basics.
Less than 2% of shares traded which indicates no one in bailing.
Also Babu brought in Nov and Dec 23 at prices up to 5.5p and went from zero to sixteen percent.
guess people are underwater a lot here, not worth selling out, might as well hold on and see what happens, similar to those who invested in CINE.
As at 4 January 2024, net debt was £18.3m, they are burning cash fast
Net debt at 23 jan 20.3 million
Net debt today ? What’s NatWest facility?
Net debt at 23 January 2024 is £20.3m, well within our facility with NatWest, however we will significantly reduce our capex expenditure to reflect this lower EBITDA with all refurbishments deferred until we see trading improve.
NatWest will what there 20 million back first on any sales .