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“ Roadside now expects to publish its results by 30 April 2024, after which the Company expects its suspension from trading will be lifted.”
They have a director on compassionate leave.
Trek
Just realised - could be Tuesday which is the 30th!!!
Tomorrow or Monday it is then. Can't see an after hours announcement today although anything's possible. I'm still optimistic that there are exciting times ahead and reassured by the fact that the directors hold majority of shares so they have every incentive to deliver.
AIMHO
Did the company need to do this deal ? Why not roll the existing arrangement.
Very true the Dicksons are doing well here. They've done alright with the Verso deal and the coffee mbo prior.
Scaling quickly still looks to be an issue to me. Meadow could have got this far on their own.
Tnx Trek/Cawdor for your insight. The two main positives I take here is no discounted placing and the fact that the directors have major skin in the game so they're unlikely to inflict necessary pain on shareholders as they hold the lions portion of shares!! I expect many more announcements to come as the transition to the roadside project will take time but all the ingredients for a successful nice enterprise are there. I just hate share suspensions but the delay in the accounts has been a major theme in the market recently so its hardly a big deal.
GLA
Just refinancing. Of the 9m only 800k is for working capital rest is to pay debt with debt on better terms keeping it within the family!
They have added in the CSS sale (RNS 20th March) to further reduce debt and provide working capital.
Looks like a sensible way to spend the windfall avoiding equity dilution. Would rather they got rid of another lump of CSS though to further reduce debt but then the redemption terms seem quite onerous in favour of Dickson. There’s always something with these ‘nepotistic’ deals but with the Dickson’s owning 53.91% of the company and holdsworth adding since the Nex listing at much higher sp; I think this package will be fine esp given directors are in at higher levels.
Could do with some more divestment news though to claw back to the 20’s!
Usual caveats
Trek
I think the best is yet to come. Do not be surprised to see both a share consolidation and an equity raise. The cash they want to scale isn't evident in this rns
At least they didn't dilute ordinary shareholders with a placing at a huge discount like a lot of other companies have done. Raising capital at the moment is very difficult. Also, Meadow Partners are a massive outfit and they wouldn't link up with a small outfit such as us without being impressed with what they see. There's also the sale of CSS and the portfolio of pubs/restaurants. Anyone care to comment in case I have drastically missed something??
It's not going to be good.
I don't see anything untoward in the RNS other than the fact that all debt is now fully serviced and opens the way to the JV with Meadow which is amutli billion dollar company which already owns properties in the UK. It's the release of the audited results by 30th April I'm looking for asap and the lifting of the suspension to see how the market reacts to recent developments. Time will tell.
GLA
No chat on here today after the RNS says it all really.
Really ought to be next week although if we're lucky could come Monday morning. As long as it's worth waiting for is all that matters.
GLA
The 2022 AR makes interesting reading. Company listed on AIM right before covid struck which was very disruptive but that's over and they seem to have big plans i.e to achieve £220m annual revenue from the roadside sites. Pubs and sleep science businesses to be sold off. This looks a very exciting business and I'm in as it looks to have huge potential. The directors et al own the majority of shares so they have major skin in the game.
AIMHO
This company is mega lolz
Thought that was coming. What's another few weeks. I'm sure it'll be worth waiting for especially the update re future plans. GLA
Intra day RNS?
Sorry posted that in error
The non disclosure of her purchases probably came to light during the current annual audit.
I think it right and proper that the company issue a statement just to clarify the situation. The powers that be might insist on it.
GLA
Not sure if any rules have been broken but let's see what they announce.
Backs up my earlier posts about free float or lack of it. I've never seen a companies equity as closely held as this one.
I don’t see how a disclosure of trades from August are in accordance with MAR. Is it not supposed to be within two working day for DTR.
“ The notification for crossing is….. DTR 5.8…
“ The notification to the issuer shall be effected as soon as possible, but not later than four trading days in the case of a non-UKissuer and two trading days in all other cases, after the date on which the relevant person:”
https://www.handbook.fca.org.uk/handbook/DTR/5/8.html
Well I guess at least she was buying behind hubbies back as opposed to selling! I also note she was prepared to pay 2.9p and 6p so had no concerns that a 100% rise made it too expensive.
Wonder if she is still buying! lol!
Anyway it all seems very strange that it comes out so late after the event.
Usual caveats
Trek
Everything comes to he who waits
Hopefully hear something sooner rather than later. The suspense is killing me!
GLA
Newgrange, if you work through the admission document you will probably get to about 22 key holders in this business. Some may of moved on but all have a link to the Dickson family. Worth a look at who backed them when they reversed into Barkby. Successful people don't invest that kind of initial investment if they hadn't supreme faith.
If you look further David Holdsworth massively raised his holding in 22 and you can add in the CFO Doug Benzies who now holds in excess of 1 million.
They haven't given their company away cheap with share dilution have they ?
We are happy with our holding due to the amount of " skin in the game"
Lets see what happens this week but I expect a vastly different perceived business will emerge,
@Cawdor - blow taken from company website today.
Date & Time: 02 April 2024 0:00 (GMT+01:00)
Share Last High Low (+/-) % Bid Ask Volume
Roadside Real Estate 8.20 8.20 8.20 0.00 0.00 6.50 8.50 0
Share Graph Share Data Trades Performance
Currency GBX
Market London (GBX)
ISIN code GB00BL6TZZ70
Ticker code ROAD
Industry Other
Market Capitalization 1,178,157,993
Number of Shares 143,677,804