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Hello Monty
I'm afraid the Clapham Revs bar closed at the back end of 2020. I wasn't aware of this until I turned up and it was a Wetherspoons. Looking into it six bars closed around this time as part of the restructuring. To be honest the outdoor space at this location was pretty poor so the outdoor trade would have been minimal. Good move in my opinion.
You will be pleased to know the Manchester bars remain packed at the weekends. I was in the Deansgate one bank holiday weekend which is probably the largest one and more of a club in the evening. Tenner to get in as well when it gets late.
Had a weekend in Newcastle even though i didn't go into Revs there was a large que.
I'll be in the city centre again this weekend for Ronaldo's return i'll have a gander at some of the other sites. I'm hoping the next trading update re-rates us 30p+. The demand is definitely there.
Hi Pault
Did you check out London’s Rev bars or anyone else. If there is pent up demand and enough staff then we can potentially see a re-rating of 22p to 25p depending just how busy they are after the 5th October trading update. GLA
Your welcome. I only recently bought a chunk in Revs based on their busyness since all restrictions were lifted and the drop since the placing made my decision easier. I've been into Manchester every weekend and all four bars in Manchester (3 x revs and 1 x revs da cuba) have been heaving every weekend. I'm off to London this coming one so I will report back on how the Clapham High Street one looks...
Thanks for the on the scene reporting. Now that is proper due diligence right there!
Also very much active investing!
Hopefully it could be a case of more than a free drink for shareholders here.
I was in one of the Manchester bars on Saturday celebrating my birthday. We had torrential rain pretty much all day and night but you will be pleased to know that this bar was absolutely heaving. We arrived around 7PM for a table booking for 6 of us and all other tables were booked back to back. Once our 2 hour table slot had finished we stayed at the bar until around 12:30PM and it was still busy. I was wasted by then and ended up in bush outside. Ah well good night in all. Spent a wedge to.
Anyone been in their bars lately?
On Friday the one I was in was absolutely heaving - hopefully they will have a trading update out soon.
Considerable dilution then... nearly 79%.
Sorry - not the number of shares, but the value for existing shareholders got clobbered by 84%. There were 50m shares back in 2019 - we had a small dilution last year, and then this year's pain. I think there's around 225m shares now.
Substantial - and recent. The number of shares have increased from May/June by 84% - https://www.sharesmagazine.co.uk/news/shares/revolution-bars-in-shock-discounted-cash-call
Perhaps this might answer your question Nicname?
See below copy and pasted from website...link below text as I took a broad brush approach.
FIRM PLACING AND PLACING AND OPEN OFFER STATISTICS
Market price per Existing Ordinary Share(2) 34 pence
Issue Price per New Ordinary Share 20 pence
Discount to the market price of an Existing Ordinary Share(3) 41.2 per cent.
Entitlement of Qualifying Shareholders under the Open Offer 1 Open Offer
Share for every 25 Existing
Ordinary Shares held
Number of Ordinary Shares in issue as at the Latest Practicable Date 125,046,654
Number of New Ordinary Shares to be issued by the Company pursuant
to the Firm Placing 100,000,000
Number of New Ordinary Shares to be issued by the Company pursuant
to the Placing and Open Offer 5,001,866
Number of New Ordinary Shares to be issued by the Company pursuant
to the Firm Placing and the Placing and Open Offer 105,001,866
Enlarged Share Capital immediately following completion of the Fundraising(1) 230,048,520
New Ordinary Shares as a percentage of the Enlarged Share Capital(1) 45.6 per cent.
Gross proceeds of the Firm Placing £20.0 million
Gross proceeds of the Placing and Open Offer £1.0 million
Gross proceeds of the Firm Placing and the Placing and Open Offer £21.0 million
Net proceeds of the Firm Placing and the Placing and Open Offer
receivable by the Company (after expenses) £19.9 million
Approximate market capitalisation at Admission at the Issue Price £46.0 million
https://www.revolutionbarsgroup.com/investors/equity-fundraising/
There must have been significant dilution over the last year or two - has anyone worked out the full extent?