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Https://www.bbc.co.uk/news/articles/cd7pzr88de1o

Excellent news. Especially as EMAN are much stronger in the autumn and winter at attracting adults and have a more difficult time with kids and young people in the Summer.

Could be as simple as they admire the business model and want an insider view. Or they just bought because the shares were ridiculously cheap and still are imo. You'd need about £200m and decades of landlord relationships, brand building and loyal members to start this business tomorrow.

If they got to 10% stake that would be interesting because they would have genuine influence on what happened next, which they dont really have at 5.35%. The businesses are quite complementary as Omni have good property portfolio, freeholds and debt free with cash + better links to the EU. Everyman have a successful, premium model and a big strategic advantage with the affluent postcodes of their locations. No idea if theres any plans to merge or if Omniplex just fancied a bargain and some better intel about another cinema chain.

It just means the data source can't be sure how the trade was initiated and completed

Could be any number of scenarios. If its an existing stakeholder with a significant stake, e.g. an Omniplex or existing board member there will need to be an RNS soon as they will have crossed another threshold. It could be a stakebuilder starting from scratch and havent crossed any thresholds that require an RNS or it could be something more boring like a small cap institution exiting and finding buyers for their shares via the broker. Share price is up 16% this year so could just be someone cashing out. It is interesting how many significant trades are being notified out of hours though.

Indeed, and combine that with all the buys from the board as well, including at the current price. It makes sense to strike while the iron is hot, UK Box Office is currently up 15% YoY and will likely be about 25% up for the July trading with Devil Wears Prada, Michael and some big films in June. That usually correlates with EMANs revenues and EBITDA. Market share will likely increase as well. Perfect timing to attract some bids. Penny for the thoughts of those institutions who sold out in the mid 20s at an all time low.

Worth noting the timings with this one. Full year results would have normally dropped earlier this week. There are no results and not even a notice to say they are due. January trading update clearly states April 2026 so they are cutting it fine with any notice. Innocent explanation is interim CEO and new CFO need extra time but they've both been in the business for some time now and a handover was supposed to happen with former CFO. No organic reason for delay. Might be wrong but that suggests to me something significant is brewing that needs extra care and attention.

I like this company and consistently good results but its never clear when to buy it. Small float and largely family owned so until there's a catalyst like they open 100 stores and issue a dividend, or suggest they want to sell the family silver, then its tricky to get the timing right. Its ranged from mid 20s to mid 40s with no apparent rhyme or reason.

Two totally different business models. The Light are multipurpose, giant entertainment venues and Everyman are boutique cinemas. Also worth noting that Vue, Odeon and Cineworld couldn't bid on Showcase for competition reasons.

Interesting news is coming out about The Light taking potentially over Showcase Cinemas.

- Valuation of £55m for 16 sites

- £88m refurbishment costs expected, between £5-6m per site

- Mike Ashley involvement owning the freehold, The Light would be tenants.

- Concerns The Light will be saddled with significant debt

Now compare this with Everyman 49 turnkey cinemas in premium postcodes, only maintenance costs required and no major refurbishments. Debt on trajectory towards <1 leverage.

Current valuation is lower than The Light are paying for 16 cinemas which need £88m of refurbishments.

Omniplex is the largest cinema chain in Ireland. Perhaps more importantly, owned by a very wealthy family who have huge real estate assets and a debt free cinema chain. A deal of some kind would be very plausible but a lot depends on if this is a friendly stakeholding, welcomed by Blue Coast and the current board, or whether they are trying to stakebuild in a more hostile way.

If you Google Omniplex Sunderland, theres a video which shows its basically an Everyman clone. Very clear this is how they see the future of cinema and there's about £200m worth of cinemas in the most affluent places in the UK currently valued at one quarter of that price.

There isn't much value in selling here, even if people have been spooked by the big change in projected numbers between September and December. If you built Everyman tomorrow it would cost at least £150m, not including the 6% market share of a £1bn market, members and strategic leases. Currently has an enterprise value of less than £50m. If management can get a grip of the communications and the calculators then its amazing value.

Of those selling at an all time low, on the eve of their biggest film event for two and a half years.

Https://southwarknews.co.uk/area/elephant-and-castle/will-new-elephant-town-centre-be-gleaming-or-soulless/

Looks like Elephant and Castle could be one of the 2026 openings. Nice catchment south of London Bridge but north of Crystal Palace. Lichfield the other 2026 opening so it seems Windsor and something else will be opening in 2027.

Ahead of tomorrows results, this should get a nice boost from the Swifties pre booking for 3-5 October. Can see all screenings at all cinemas selling out for this. Nice assortment of movies that weekend as well.

Https://www.sharesmagazine.co.uk/news/shares/canal-enters-into-exclusive-talks-with-french-cinema-chain-ugc

Another example of major media players of buying into cinema chains, after Sony bought Alamo Drafthouse last year.

Really interesting, thanks Draft.

Some quick calculations. Vue valued itself at £650m in 2022. The market has probably improved slightly since then due to Covid recovery and industry strikes finishing so it could be higher than this now. Vue have about 5x the cinemas (inc. Europe) than EMAN and 11x the screens but using the 2022 value is considered 17.5x more valuable.

Been on the cards a while this one. It's an interesting location because the Central London ones tend to be in young professionals/metropolitan areas and this one is potentially good for the tourist market and can see it doing well at times like Christmas and the Summer Holidays when lots of visitors to that Hyde Park area. Hopefully it's open for September as lots of Everyman friendly films are out that month. Downton Abbey on September 12 would be a good target opening date.

Seems like a perfect location and from what I can tell, no other chains present in town with just a local arthouse which shows a limited and late range of films

...or overseas cinema chain looking to expand global footprint like Cinemark, also mentioned in the article with market cap of £3.3bn and more than doubled in past 5 years.