Chris Heminway, Exec-Chair at Time To ACT, explains why now is the right time for the Group to IPO. Watch the video here.
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Just done a tally of buys and sales surprised I made as recalled rights was 100p in March 2021.
Not a large % of holding and I tail swallowed for 114p the day before 22/3/21 so had a few more shares for nothing after .
First two covid buys 9 & 14 April 2020 55p & 52p could of made more if sold before February 2022.
Could of got 68p when some bought for higher offer before 20th November and had funds to my acc more then a month ago.
Already redeployed mine. Went 3/5 BT. Hoping that recovers this year and 2/5 into a riskier SBTX but hoping that doubles at least in 2024. Not sure what is safe these days. The world is a basket case. Good luck.
Thank you, yes mine got paid in yesterday, there were no comms, I'm sure that the last time something similar happened there was more information given out.
I'm pretty disillusioned by the markets at the moment, for me the safer the better at the moment.
Hi. Mine has just been paid into my ii account.
Apparently today although nothing yet in my ii account. Any thoughts as to where you will redeploy? I have a possibles list. Not sure whether to go safe, medium or high-risk.
RESTAURANT GROUP ORD GBP0.28125
Event TypeScheme of Arrangement
DescriptionScheme of Arrangement
Effective date: 21st December 2023
Terms: GBP0.65 in cash for each Restaurant Group Plc
Pay date: 4th January 2024
Restaurant Group Plc has entered into a Scheme of Arrangement with Rock Bidco Limited effective from 21st December 2023. Under the terms of the Scheme, holders will be issued with GBP0.65 in cash for each Restaurant Group Plc share held.
Payment will be issued to entitled shareholders accounts upon receipt from the company.
..
Company sold on the cheap. I’m sure during 2024 more will go this way. Only a gut instinct but SPT could be one.
Why was the additional shares were added after we all voted on the procedure, which must be against the rules. About 300m shares owners didn't register their votes? This is a very large number specially most were owned by institutions. Very very fishy soup.
Sadly my last time in wagas tonight.
I cannot support the new owners of the business out of pure spite. The food was good , the service was good , the menu was good , it was busy . Basically we've been ripped off. Id be very interested what salary and sweeteners the existing board have got from the new owner,
The whole thing stinks to high heaven. Follow the money .
And another top up by Morgan Stanley .
Over 11% now
Why Morgan Stanley keep buying it.?Holding now over 10%
Morbox, I really have no idea. I'd prefer to stay as is but wouldn't say no to a big premium either. I always considered that a long-term hold.
Yep, what do you think will happen with Equals tomorrow? Just hope I stays as is or a very large premium!
I gambled on another bid coming in and lost. They certainly got this cheaply.
Some people CBA, go with the flow attitude. Just wish it got rejected, oh well haven’t sold yet but if I see an opportunity I will before the deal closes. I other takeover share has a tomorrow deadline I wonder what will happen there. Again I don’t want a cheap takeover on that one too.
About 300million shares not voted? Why they didn't?
Ffs, just over 75% excepted. Wouldn’t surprise me that big buys during this period was to make sure it got over the line.
https://www.lse.co.uk/rns/RTN/results-of-court-meeting-and-general-meeting-u1xdo7ja3ttdofl.html
House keeping on votes that's all. Today or tomorrow we should get some info on todays General Meeting
Thanks for the info. What happened on the 1st Court meeting on 23rd? No RNS?
It’s all within this document. Page 6
https://www.trgplc.com/wp-content/uploads/2023/11/Scheme-Document.pdf
When will we know the results of the ballet? What time the court meeting?
On 19 October RTN made the following announcement
The Restaurant Group plc today announces that it has issued, conditional on admission, 5,150,530 ordinary shares of 28.125 pence each in the Company ("Ordinary Shares") pursuant to a subscription by the Company's Employee Benefit Trust to satisfy share awards granted to employees under the Company's Restricted Share Plan.
"Application will be made for the admission to trading of the new Ordinary Shares on the Main Market of the London Stock Exchange and to listing on the Official List, with dealings expected to commence at 8 a.m. on or around 24 October 2023”
Following the issue of the new Ordinary Shares, which will rank pari passu with all existing Ordinary Shares, the Company will have a total of 770,212,928 Ordinary Shares with voting rights in issue. The Company currently holds no shares in treasury.
In the grand scheme of things 5.15 million shares might not sound a lot but if 25 shareholders own 79% of the shares (SimplyWallStreet.com) and i read institutions own in total 86%. There are 15000 staff.
If 25 own 79% of 770 million leaves 162 million shares owned by the rest. It's not unreasonable to assume say 100 shareholders own 85%, further reducing the count. Even if only half of the staff got shares there is potentially a large pool of holders motivated to vote in favour of the scheme. This could and probably will overwhelm the votes of long term holders
Upon checking the Scheme document
18.1 The fully diluted issued ordinary share capital of 778,379,613 TRG Shares is based on:
A) 770,212,928 TRG Shares in issue as at the Latest Practicable Date; plus
(B) 11,390,430 TRG Shares which may be issued on or after the date of this Document pursuant to the TRG Share Plans; plus
(C) 2,349,164 TRG Shares which may be issued on or after the date of this Document to satisfy the exercise of Awards already granted, calculated using the treasury stock method and in accordance with the intentions set out in Schedule 2 of the Cooperation Agreement; less
(D) 5,572,910 TRG Shares held by the TRG Employee Benefit Trust that can be used to satisfy the vesting and/or exercise of Awards granted under the TRG Share Plans as at the Latest Practicable Date..
Around 24 October there were hundreds (possibly thousands) of share trades on LSE in repeat sizes. (Shapes - 300,998,2068,2635,3000,3065,3276,4332,4586,5000,5210,7607,10000,11000,13085,13980,16764)
I am not sure what the process is for issuing shares to an EBT. Are these trades sales by the staff of their EBT entitlements or are they the awards being issued to the staff brokers? I have no idea what the terms of the awards are.
Anyway from what I can see this will get voted through but I do question the morality of issuing shares after the deal was announced. Is it even legal?
If many reject the offer, the so will raise regardless of increase bid as currently it's grossly undervalued. With reduction in business rates these rest should make more money. You would be a fool to give it away for now.
Message from AJBell, "Wheel Topco has announced that it no longer intends to make an offer for TRG, due to current market conditions." Where do investors see this company going from here.... as it seems most on here seemed to be in favour of rejecting the 65p/per share offer from Apollo. Likely to get a higher offer from Apollo?
HOTC