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Reggie - Don't understand either of nicnames last two posts. I don't think he knows the Nightcap background
The end game is he's having a gloat something he enjoys.
I don't even understand that sentence.
Reggie,
You may have been "being rhetorical" but you might understand that Nightcap is much about raising money.
Banbury,
The subject line is NIGHTCAP. The o/p was about NIGHTCAP. My reply was ref. NIGHTCAP.
Keep up you say???
Subscription allready on the Table from existing shareholders and completed. That's the fall back if nothing comes out of the formal sale process.
Keep up !!
You are right it's been a terrible investment but so be it. This is about the now.
Thanks for the help but I was being rhetorical. Pretty clear what's been shaping up here last few weeks. Posssibly a small gain for the gamblers but not so much for the long termers.
Banbury,
1. I was replying to ReggieT
2. You interjected: "It certainly won't go bust which you predicted." - Where? Please cite your case.
Nicname we all know your view which is this has been a terrible investment. Agreed
The conversation is not about that anymore. It's about is it worth more than 1.4p
It certainly won't go bust which you predicted.
A little research and you may be able to work that one out. Maybe start with the long term share price chart and work back to the origins.
Yes interesting.
On the downside only £3.5m on the upside at 5p a big 30% plus premium to closing SP.
The chief executive is clearly suggesting "once in a lifetime opportunity" the availability of Rev on the market is a driving factor. Interestingly the lad behind the Rev Beauty scandal Mr Minto has taken positions in both Nightcap and Rev Bars [ see most recent disclosures] . Definitely interesting.
I see Nightcap are raising funds, wonder why that could be?
Yes I'd expect we'll see their exact level of intent early next week. Fingers crossed it's not too derisory, a starting point at the very least.
GLA.
Yes three disclosures on nightcap board
Does feel like some sort of proposal coming.
Possibly a low ball offer as they can see that there have been no other formal offers for the entire thing yet, just parts of it.
Not sure if the Nightcap info is just housekeeping or the precurser for an offer.
Anyone any ideas ?
Yeha, not ideal, but there is still 6 days
Not the RNS I was expecting. Looks like I may have called this incorrectly.
Over 70% of venues to invest in refurbs despite rising costs. Some 71% of hospitality operators are set to invest in venue refurbishments in the next year.
The survey was conducted jointly by UKHospitality, the British Beer & Pub Association, Hospitality Ulster and the British Institue of Innkeeping.
Things are getting better in the Hospitality business and interest rates are on the way down, two factors that RBG had problems with in the past.............
"UK exits recession with fastest growth in two years
Faisal Islam: Economy is getting better but people may not notice
What is GDP and how does it affect me?
Growth in the early part of the year was led by services - which includes sectors such as hospitality, arts and entertainment - and was likely to have been helped by an early Easter in March, the Office for National Statistics (ONS) said. Last year, Easter was in April. "
Revolution Bars Group starts takeover talks with potential buyers, 8 May 2024.
The group has decided a formal sales process could deliver a “better outcome for stakeholders” than a mooted restructuring.
Rob Pitcher joined Rev Bars Group in June 2018, his tenure was for 6 years, due to expire June 2024. He also holds a position of Director at U.K. Hospitality Ltd.
Good post bigbad.
Agree most of it except you point on the board. Pitcher and crews salary is obsence for such a small cap. His salary is more material than his shareholding and they are all conflicted.
I hope they do the right thing and recommend anything over 3p as opposed to the recovery plan.
Hope you are right and sell order gone.
Interesting one
Banburyboy, my opinion and nothing more …
I believe the current board have played a good hand securing financing for the restructuring plan. This has created the opportunity for the company to be offered for sale without being a ‘distressed seller’. If a suitor wants to buy the company they will have to pay ! (Not steal out of administration)
I believe the current board will sell at the right price, remember a number of them were purchasing shares 5p, 6p, 7p over the last year - clearly they saw value in the company.
Eldose Babu the largest shareholder was aggressively purchasing shares 5p -5.5p in December.
The restructuring plan would suit Luke Johnson and the other two investment vehicles. At present they do not have the final say here, they will have in September if a sale doesn’t happen and the restructuring plan goes ahead - My opinion is a sale will happen, the restructuring plan will not happen, which is not a given anyway (subject to court approval)
The bank will have significant influence as to the direction of travel here. Their priority will be to have their money repaid, the outstanding debt. A sale at the right price will be the safest and quickest way for this to happen.
I do find it interesting the SP hasn’t moved on news of 32 potential suitors signing a NDA (and Nightcap disclosing their interest) . Shares in other companies would have risen significantly on this news alone. I am however quite pleased about this as it removes the temptation to sell at a price which may be regretted.
I believe the SP will open significantly higher one morning on news of a formal offer being received (an offer will happen without doubt imo). I see the SP opening one morning significant higher than the 2.99p you were contemplating selling at, purely my opinion.
Better news today from " JD Wetherspoon " as the younger customers spend, spend, spend in Vodkas ...
"British pub group JD Wetherspoon expects profit at upper-end of market view. The younger customers spent on vodkas such as Swansea's Au Vodka and XIX flavoured vodkas."
This is a fascinating situation.
I'm not a fan of the restructuring proposal and did not take up the rights as (1) it keeps highly paid board in place (2) mega dilution as 1.2bn shares most in three major investors hands.
On the positive it gets rid of the poor bars at limited cost and has a bank write down.
Any bidder would have to settle bank debt.
- Peach standalone is worth bank debt which means the rest could be had for a relatively low sum so 280m shares 5p a share £14m. Debt free synagies from another pub group seem reasonable to me. Soreally hopeful of a better offer.
HOWEVER - the big deal is the potential vote on what offer to take. At present the big PIs will vote for a restructure [ they get a greater share of the pie] not a 5p offer which is better for small fry.
What I'm not sue is who makes that decision so how could the board tell me a 5p offer was not as good as their restructuring.
The interest is amazing and I removed by 2.99p sell order for my 175k of shares ( number not value). Average 3p
The restructuring plan is a good backstop but hoping for more