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Scalpmaster...odd that Tom W keeps using that term too? Anyway, up 15% since he talked about it.
Roger...who is, but thanks for your valuable input.
Https://youtu.be/_54BJhMnFsU?si=zERHf2qUxxo9pqML
good commentary on CRTA and a helpful funding analysis.
Momentum. There was a Board meeting today. I wonder whether they are preparing the Xmas RNS telling us of more contract wins?
Up she goes...
In a significant development for Reach, the company received court sanction today for its financial restructuring plan. The Insolvency and Companies Court, presided over by Judge Sally Barber in an online session, approved the cancellation of the company's share premium account, a move designed to enhance shareholder distributions and fulfill commitments to pension trustees.
This court approval marks a pivotal step in Reach's strategy to navigate through a challenging economic environment marked by rising operational costs. Earlier in November, the media firm announced intentions to reduce its workforce by approximately 450 positions. This decision is part of a broader cost-cutting initiative aimed at reducing annual operating expenses by up to 6%, with a particular emphasis on bolstering its online presence.
The need for restructuring became evident following the release of Reach's half-year financial results in July. The company reported a sharp decline in underlying operating profits, which stood at £36.1 million, a 23.5% decrease. This downturn was attributed mainly to changes in Facebook (NASDAQ:META)'s news feed algorithm that adversely impacted digital sales. Statutory pre-tax profits also saw a steep fall from £32 million to £6.7 million compared to the same period the previous year.
The court's decision today is expected to provide Reach with greater financial flexibility as it continues to implement its strategic plans, including the expansion of its digital operations and streamlining of its workforce to align with shifting market demands.
Let's hope so...but it appears to be at the bottom of that period's trading range?
Thanks for clearing that issue up as I for one was unclear as to the rules.
And add my buy a couple of days ago...not quite TR1 material though!!
Silent purr...this is exactly what we want to see.
Afternoon Tom. You may be correct about a cash call, but then again do you have inside knowledge about contract discussions? If some more announcements are to be made shortly, then this could assist cash flow?
I thought I'd get in quick before this took off on the recent news....
God morning all. It's great to see that our CEO is buying, finally! I assume that other large buyers recently are a tad perturbed in that they paid over 55 for their top ups. However, let's hope that this represents the bottom of this awful downward spiral and that with his purchase, and hopefully contract win news, a more realistic share price can now be reached. 90p by Christmas?
For each City Pubs Share: 108.75 pence in cash (the "Cash Consideration")and 0.032658 new Young's A Shares (the "New Young's A Shares")
· Based upon the Closing Price of a Young's A Share of 1,110 pence on the Last Practicable Date, the Transaction represents a total implied value of 145 pence per City Pubs Share, valuing the entire issued and to be issued ordinary share capital of City Pubs at approximately £162 million.