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friday february 2 2024
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Everyman Media investor raises bid speculation
The Lewis family lifts its stake in the cinema chain close to the 30 per cent level at which an automatic bid would be triggered
Shares in the chain were said to be “simply the wrong price” after falling by more than a quarter in the past 12 months
Shares in the chain were said to be “simply the wrong price” after falling by more than a quarter in the past 12 months
MARTYN GODDARD/ALAMY
Dominic Walsh
Friday February 02 2024, 12.01am, The Times
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Everyman Media, the cinema chain, was at the centre of bid speculation after the owners of the River Island fashion business lifted their stake to 28.3 per cent, not far short of the 30 per cent level at which an automatic bid would be triggered.
On Wednesday the Lewis family’s Blue Coast Capital vehicle bought 250,000 shares at 60p a share, then yesterday it bought a further 3.75 million shares at 56p, bringing the total outlay over the two days to £2.25 million.
Michael Rosehill, a non-executive director of Everyman, is an adviser to the Lewis family. A chartered accountant, he is also a director of Blue Coast and as such has an indirect interest in its Everyman holding. The cinema chain’s website says that owing to his Blue Coast links he is not considered an independent director.
The Everyman board includes Adam Kaye, who co-founded restaurant brands including ASK and Zizzi, as well as Charles Dorfman, who runs his own television and film production company, Buckland Productions. Dorfman’s father Lloyd, the founder of the Travelex foreign exchange, is a former director of Everyman.
A source familiar with the situation played down the possibility of a bid, but said the shares — down more than a quarter over the past 12 months — were “simply the wrong price” and that as a result board members were buying them in the market.
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The shares added 5p, or 8.2 per cent, to close at 66p.
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Https://www.thetimes.co.uk/article/plot-thickens-for-cinema-chain-2kdgv9xxb
Well looks like this will go private very soon. Ill have to contact someone and find out what happens to my shares. Even if it goes private we still have shares in the company.
The way to go is we fully transfer to nadaq, our shares get transferred to a nasdaq holding and this then soars to crowdstrike mcap, thats what im hoping for, but who knows, we stay on UK markets we aint going anywhere probably
Https://corstonecapital.com/
far east focus
We are pleased to have Mr. Albert "Bud" Hawk join our Board. He leads a globally diversified and strategic advisory US firm with funds under management and transactions exceeding $1 billion and has extensive board and leadership experience in publicly traded and private equity businesses.