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So as long as the targets were thought through properly it will be ok...
Thanks Shandyman - that's good. So perhaps while it is that 24m that have been sold - hopefully they are well on their way to clearing
From the June RNS. MFT capital still have the same shareholding as per the company's website
On 3 November 2021, the Company announced the proposed acquisition of Boom Battle Bars from MFT Capital Ltd for a total consideration of £17.38 million, consisting of an initial cash consideration of £9.88 million and deferred consideration to be satisfied through the issue of up to 25,000,000 Consideration Shares payable subject to an earn-out based on the performance of Boom Battle Bars in the financial year ending 31 December 2022 meeting a combination of turnover and site roll-out targets. The number of Consideration Shares to be issued is subject to a sliding scale based on the extent to which the targets are met. Further details in relation to these targets are set out in the Acquisition Announcement.
The Company is pleased to announce that substantially all the conditions required to achieve the earn-out were achieved resulting in the issue of 23,924,420 Consideration Shares to MFT Capital, representing 95.7% of the maximum payout.
I'm pretty sure , although I could be wrong, that those shares were satisfied in July . Please anyone correct me if I am wrong. Whoever is selling is potentially an institutional investor as they are quite large sells for PI's.i mean I'm still confident from my own research, but admit it is a bit worrying.
I'm wondering if the constant drag is due to the 25m shares that will be due as part of the purchase of Boom Bars. The most recent RNS stated that the overwhelming majority of venues are performing at the require level for the previous owners to receive the additional shares.
25m is quite a significant chunk of the current shares in issue
“Something dodgy with this share”
I concur!
On the flip side they are in a closed period so can't update the market and directors are buying.
Just need to wait and hope, doesn't look like much chance of a santa rally
Don't understand how there is never a TR1
something very dodgy gong on with this one
God I hate this share, there is always a seller at any price.
They need some sort of good news story to let them out, just painful.
Merry Christmas
Yes 3 BOD purchases in the last few months has to be a positive sign. I suspect Christmas bookings are positive, and for Boom in particular many of these venues are having their 1st xmas, so the revenue YoY increase should be substantial
More sells than buys lately……. ???
I agree with chapel. Seems like they’re impressed with the progress or why else buy?
I wouldn’t be surprised if we saw more director buys also.
Hope you’re right. But this share needs to start moving. Hope January is the game changer.
He is only a non exec and so £10k is fair enough. Combined with recent £65k from COO Andrew Jacobs looks positive sign to me.
The company have to report it, its regulated. I'd rather he was buying £10k worth, than not - It is still a good sign.
What is your excuse? - your comment was 'not even worth posting'
Not even worth reporting
XP Factory plc
("XP Factory" or the "Company")
Director/PDMR Shareholding
XP Factory (AIM: XPF), a global leader in the experiential leisure sector, was notified on 8 December 2023 that Philip Shepherd, a non-executive director of the Company, on the same day acquired 62,163 ordinary shares of 1.25 pence in the Company at a price of 16.0867 pence per share.
Philip Shepherd's total beneficial interest in the Company is 62,163 Ordinary Shares, representing 0.04 per cent. of the Company's issued share capital.
Not sure and cannot find my source
H2 will be higher.
Posh IFRS16 adj margin is usually higher
£10m - are you sure. They only did an adjusted EBITDA of £2.3m in H1.
Are you quoting the pre IFRS number, which is always higher? For H1 this was c£5m.
IMHO the pre IFRS is always a bit misleading so i tend to ignore.
Pretty sure the market is expecting FY EBITDA of £10m
Hedge - good comparison with Hollywood Bowl.
Your figures are of course H1 only - for 2023 FY if we assume EBITDA is c£5m and for a fast growing company a 10x EBITDA is a decent yardstick then that's a £50m valuation, almost double the current SP.
Wonder why my blogs keep being deleted?
What is the reason for these rapid swings in so other than fake market makers, insider information, sp manipulation etc, etc.
Would not surprise me with we see a TR1 with all these big trades about. They do not look like sells
Ten Entertainment (TEG) The owner of Bowling alleys, Modern Arcades, Escape rooms and Laser Tags has been bought out by a US Private equity group for a 35% premium to the current price (still a bargain imo).
Further shows how undervalued UK Alternative entertainment companies are, this 100% applies to XPF too. Glad I bought last week and continuing to add whilst its this undervalued.
Maximum - nice post
Compare that to Hollywood Bowl....
Venues
BOWL - 80
XPF - 76
Activities
BOWL - Tenpin Bowling, Pool, Bar, Food and mini golf (3) and amusements
XPF - Escape Rooms, Pool, Crazy Golf, Augmented Reality Darts,Axe Throwing, Table Tennis + Beer Pong, Shuffleboard, Food, Bar , Kareoke
H1 Revenue / EBITDA / EBITDA Margin %
BOWL - £110m / £35m / 32%
XPF - £18 / £2.3m / 13%
mCap / mCap as multiple of EBITDA
BOWL - £469m / x13
XPF - £28m / x8
BOWL must represent a more mature target for XPF - opportunity to significantly grow revenue and improve margins. BOWL pays dividends and is clearly a more mature and established business - howvere, from an investment persepctive I see lots of growth and opportunity in XPF and BOWL is a cash cow at best that will find it harder to grow.