The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Anyone know why AET income statements and profits are not on the graph at the bottom?
https://uk.investing.com/equities/sterling-energy
Guess its down to the larger investors if they want to put a bit more money in, and the sale of 20 sites. at least it sounds like the board have a good direction for coming out the other side. gonna be rocky.
Revolution Bars Group PLC notes recent press speculation. Following a period of external challenges which have impacted the Company's business and trading performance, the Board is actively exploring all the strategic options available to it to improve the future prospects of the Group. These include a restructuring plan for certain parts of the Group, a sale of all or part of the Group and any other avenue to maximise returns for stakeholders. The Company also confirms it is currently engaged with key shareholders and other investors including Luke Johnson in respect of a fundraising.
The Company continues to trade in line with management's expectations.
The Company is not in talks with, nor in receipt of an approach from, any potential offeror relating to an acquisition of the issued and to be issued share capital of the Company.
REVOLUTION BARS is undergoing talks to sell off around a quarter of its venues, Sky News' Mark Kleinman first reported.
The London-listed hospitality group, which employs 2,500 people across the UK, has drawn up plans to axe roughly 20 of its underperforming bars.
The group has also reportedly approached investors in a cash call to raise £10m, which is more than its market capitalisation of less than £7m.
In January, Revolution said it would close eight bars as young people scale back on nights out amid cost pressures.
Investors close to the matter have said that without selling off more bars, the group would face insolvency as the only alternative.
Shares in Revolution Bars have cratered 57 per cent over the last year.
The news comes as yet another blow for the struggling hospitality industry.
At the start of the year Rekom UK, the country's biggest nightclub owner, called in the administrators. While just last weekend, Whitbread announced plans to sell about a third of its underperforming restaurants and pubs.
A Revolution Bars Group spokesman declined to comment to City A.M.