Member Info for HedgeHogarth

The company have clearly stated their intent to sell themselves

Entirely likely that a non-exec will take this an opportunity to part ways with the company - the company will now be heavily focussed on executing and deliverying against short term objectoves and less on long term strategy.

Non-execs are the first out the doorwhen there is a change in ownership

I know this business and scetor very well and understand the margins available in Consumer Tech re-commerce.

If the institutions wanted out in a big way they would not have waited until the SP was sub 20p. Nothing has changed in the business case, the performance in the last 6 months.

I'm not 100% sure what is happening behind the scenes. Perhaps the Instis are freeing up a bit of stock to create some liquidity for someone who is building a position. They are other potential scenarios in my head too.

Either way, I'm going nowhere and if this did happen to go 'tiiiits up' I will happily show my face here and put my hands up and say i got it wrong.

However, don't worry about me. I've only got c250k of these and will pick up more from time to time

We'll agree to disagree "Pro Investor"

Mt resreach shows there is more in the hands of institutions now than there was 12mths ago , the founders remain 20% holders and emplyeed remain 8% holders. Northern entities ahve moved forward too YOY

We are clearly not going to agree.

You are not going to do anything to convince me that this is not an absolute bargain. I've seen it all before

We already know that the managemnet are confident of delivering the FY result in line with expectations

For me, the compnay is delvering c£8-10m EBITDA - with growth opportunities from it's kiosk roll-out, it's rental proposition and geographically.

I think they would benefit from a brand refresh - with 80% now focussed on Consumer Tech, MusicMagpie is no longer very apt. Its a bit like Carphone Warehouse was when carphones were a thing of the past

BickRubens - I alreday shared that a few posts ago if you take a look (FY Results expectations)

Im sure the 40% institutional investors will love a 5p Mngmnt buy-out and vote for it happily - NOT

I follow the smart money - not the trolss on here with an agenda

GLA DYOR

Infact, I think I will add today.

Give me a number between 10k and 20k….

I’m sorry ProInvestor and other purveyors of doom

I can see that bullish points of view are big welcome here and spoil your narrative

You are quite correct, my first tranche was at 19p. I have followed up with purchases at 12p, 13p. 15p and 17. I’m not 40% down, I’m 26% down and very comfortable.

The cheaper this share price has got, the bigger the opportunity

This is not going into administration. MMaG results expected to be in line with management and market expectations.

The mCAp in no way represent the true value of the company. Over 70% of shares are in sticky hands and have been retained by institutions, private equity and insiders.

Award winning funds are that way for a reason. They understand that share prices can be cyclical and now is the time to buy or hold, not to sell.

I’m going nowhere and will continue to post as I see it.

GLA

Not sure and cannot find my source

H2 will be higher.

Posh IFRS16 adj margin is usually higher

And another 860k disposal by Cannacord.

Their shares were held in two funds - Vast Majority (11m) in UK micro cap fund and a lesser number (1.1m) in a global innovation fund. They have disposed of 1.1m in the last three updates - so it looks like they have made a decision to divest for that fund but probably retain them in the micro cap fund. Which, if correct, means their selling is complete.

The reason could be that they no longer felt like the company met the objectoves of the fund - Or they may have been forced into sales if their clients themselves divested from the Global Innovation fund.

5p MBO - do me a favour!

An MBO is the last thing the company wants or needs - it wants access to more resources, not less

Robswire - correct - I noticed that too. Cannacord sold 220k this week and 70k last week. It hardly represents a sell-off as they still have 11.8m shares...

Schroders have also been active - they added 214k in the last year, added 212k very recently and then disposed of 110k and 67k this week.

These disposals are a mere drop in the ocean - Both Schroders and the Canaccird shares are held in multiple funds. Would not surprise me if they have sold a few to help manage share price.

TNH - I'm more interested in who is snapping them up - looked like some decent pick ups yesterday

Interesting to see the increase in vistors today - suggests somethnig exciting could be around the corner.

I'm very clear - IMHO this is an absolute snip at £12m mCAP. I'l superglueing myself to my shares ;-) I have no doubt that this company will be bought soon and the price will not be sub £30m

Spot on Aimtitan - the rental business is the driver of the higher debt which wil lhave been clearly business cased and forecast. The company confired that the numbers at the half year were in line with expectations. In fact all th emetrics were moving in the direction you would expect - they have a nice slug of recurring revenue now on their rental base that will have set themselves up nicely for H2 revenue and will be a nice carry-over into 2024

Moniman - full of sheite

Insiders are 'Holding' and not selling a bean

Award winning , elite fund managers are holding and adding

The net debt has probably already overtaken the current valuation - but this is not a surprise, the net debt was clearly flagged in the interims and in line with expectations.

H2 has been much more buyont for Consumer Tech

It might appear a bargain - becasue at £12m it is a bargain ad you vet well know

I'm convinced their are suitors out there doing what they can to accumulate

Pretty sure the market is expecting FY EBITDA of £10m

Methinks Tuan is here because there is still 1 or 2 short positions not managed to close....

What a clown - I'd rather clean toilets in Glasgow tthan do Tuan's job here

SP on 17th November was 18.75p

SP today is 12p

That is a drop of 36% in 15 working days; resultant drop in mcap of (£7m) from £20 m to £13m. (This was floated just 2 years ago at 200p a share.

The volume has averaged at less than 1m a day (108m shares in issue)

Looks like a bargain to me...

At least 25% of the company is sitting with highly reputable institutions in funds - schroders seemingly bough the stake from another instition last year and have kept adding

28% Business is with Founders/ employees

Northern Entities seemingly have grown their stake - up 1% YOY and now with almost 15% business

If these stakeholderss are holding and adding - I think that speaks volumes

Would not surprise me with we see a TR1 with all these big trades about. They do not look like sells

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.