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2 more good size buys 134k and 55K
and now augurs well for another rise soon at this rate of buying.
There is room for further improvement in the share price as small buys are taking advantage of the lower price, already paying the full offer 3p
9:56am 60K buy and UP she goes 2.80 v 2.90p
09:56:10 2.88 60,904
Further, move up on the bid side this time
RBG Market Makers size - EMS: 7,500
That means last Friday's trades were 37 times bigger 278,000/7,500 = 37 times
MMs do NOT have much stock on the book as 35K buy got them moving offer UP
11:07:34 2.7945p 35,784
Small trades nibbling at the stock so far
Given that strikes were mentioned specifically in last update, the end of them can only be a positive.
3 weeks away from the AGM ....
The 2023 Annual General Meeting will take place at 9.30 am on Thursday, 30 November 2023 at the Revolution Bars Group plc, Northern Office, 21 Old Street, Ashton-under-Lyne, Lancashire OL6 6LA.
@RsiMaster
#RBG / Revolution Bars 2.70p (2.60 v 2.80p)
Look like the turn is happening after holding at floor for a few days as support. Some good-size buys. Very good MMs bid of 250K at 2.63p for only 105K at 2.774p. High borrowing but the last RNS said would be paid as a priority.
chart .... http://uk.advfn.com/p.php?pid=staticchart&s=L%5ERBG&width=600&height=205&p=2&t=1&dm=2&vol=1&cb=
Not sure if their online booking system accurately reflects the actual bookings, or they reserve a certain % for nightly walk ins, but when i tried to book various tables between 4-8 people over a few week and weekend dates in Dec across 3 different sites, everything was booked. They could offer a table at about 1500, but that was about it.
This Christmas will be telling. I think they've got their business model about right both geographically and demographically.
One to watch and/or invest small regular amounts IMO.
If they survive another year then by 2026 I think the sp will be many many multiples of the current sp.
This is the most negatively worded going concern statement Ive read for a while:
The constantly changing economic
environment, including the cost-of-living
crisis, increasing costs, and impacts on guest
confidence, coupled with forecasting
difficulties as a result of constantly changing
economic impacts means that the Group
cannot be assured that it will not breach the
covenant, and that there is therefore a
material uncertainty over the going concern
of the Group and the Company
I would be surprised if the company isnt being floated for sale
The price implies there is little value in rhe company.
Is this true?
Different to say for sure but rising costs are a huge problem when your not making much profit, and whem profits aren't forecast to increase much in commimg years. (Barclays)
Need to see a big profit bump released in results very soon, otherwise this could become an acquisition target out of administration.
Peach Pubs expanding. The Three Horseshoes in Letchmore Heath, Radlett becoming the latest addition. On Monday 2nd October the historic pub was acquired. Why isn’t this being communicated to shareholders ! Seems there are some glimmers of positive things happening but Poor communication from the company. Very Poor !
This is crazily cheap-nearly 90 outlets, some recently refurbed and net debt say £25m.Market cap £6.5m
Madness
My family as directors in this company.
Try book a table for Xmas no hope
MColls was an interesting one, they did a £20M rights issue, to roll out a Morrisons branding expansion.
Then got bought by Morrisons. sho the shareholders paid for another businesses ambitions, and trhen took both the future and the money. It seems to me that is a business needs to be sold, whether it goes into admin or not in large part may be deptermined by who wants to buy it. if the only viable suitor says the finances are distressed, then there are. even if the business trading within anticipated going concern conditions.
Another winner from the Finncap stable-I got cold feet after the last round and got out.
Will it?
People have no disposable income now
Shareholders turned down an offer of 100 pence although I sold in the mkt for higher than that as mkt hoped for a counter offer. Raised a load of new money at 20 pence and I bought back then. Down and down and here we are at lows of below 3 pence. Xmas on the way and will anyone book any parties? I doubt it. If not this will be broke next year and either in administration or maybe an offer of one penny? Not all their fault I guess. Covid and WFH has done for them.
Yes Moose I know a lot about McCols they were burning cash. Presently Rev is neutral on cash and Xmas is key. Still think this is completely different
Really im not sure how much faith i have in appraisal of going concern in general. Its seems to be that businesses operate within the specified going concern environments can still go bust. Cineworld and Mccolls come to mind at trading within tolerance for a long time before going into admin.
Yes Shandy - I'm seriously considering buying more shares here's why.
Bank loan in place until June 25 at £30m. This reduces to £25m thereafter.
- Cash position disclosed in various RNSs £18.5m 31st Dec 22. . 23.1m 16th March £21.6m these accouts £23.2m 15th October. Christmas is key hence Dec figure. And whilst it's hard work they are paying down debt.
- Even under extreme going concern test still operate within covernents.
- Share issue unlikely.
Peach is excellent and at a £7m market cap this must be on the radar for a takeover merger.
If I can get in at 3p will add bringing down my average which is 5.5p.
Agree with you on Robs salary its a shocker !
Yet more disappointment and the long list of excuses continues - WFH on a Friday seems to be the new one.
A big loss despite being EBITDA positive and the core Revolution bars seem to be struggling.
Peach pubs the one bright spark, however, as we paid £16m for this and the whole company is now worth £8m not sure if that was value for money.
H1 hasn't started brilliantly too, poor weather being one of the excuses.
Hopefully xmas corporate bookings and the students will be our saviour.
I'm sure the CEO will still be getting his bonuses and excessive pay though so he'll be ok.