Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I suggested they could give more detail on the sale with solicitors.
Which building is sold, when was it sold subject to contract, when are proceeds expected.
Asked for better details in next update if proceeds are not in.
Had a prompt reply saying Noted and would comply
The 22 million sale with solicitors is a bit crucial, as is usual little detail given a bit annoying.
Had said completion is expected within x time might have given me some comfort.
The share reinvestment is good will save cash.
Think I will write to the company for any details they can give, full results soon hopefully sale is through by then.
At least shares rose today.
Yes lots of sales today.
There will be interest rate cuts probably May, the reason being there is a lot of commercial debt in America coming up for renewal and it's causing concern,also an election so Bank of England will have to create a little bit of feel good factor is my view.
20p
Could be a bargain, suppose he announces 1.2p dividend, a sale and bond refinancing on finalisation of sale.
Probably go down but think it's at a silly price now.
Hoping that one day it rises, it does now and again got to 24p and 34p on rises most recently.
Soho House & Co Inc. Announcement
02/09/2024
LONDON--(BUSINESS WIRE)-- Soho House & Co Inc. (NYSE: SHCO) (“Company”) today issued the following announcement.
Soho House & Co Inc. fundamentally rejects the recent report published by GlassHouse Research, which contains factual inaccuracies, analytical errors, and false and misleading statements, all designed to adversely impact the Company’s stock price for the benefit of the short-seller. The Company was not contacted for any comment or clarifications prior to the report being released. The Company is confident in the strength of its business and is focused on executing its strategy.
The Company will be reporting its 2023 results on March 6, 2024. At this time, the Company expects its operating results to be in line with the guidance issued on November 10, 2023. In addition, on March 6, 2024, the Company will issue full year guidance for 2024 which will demonstrate the expectation for continued growth in membership, revenues and Adjusted EBITDA, as well as positive Cash flows from operating activities.
Members of the Board and their affiliates (collectively, the “Insiders”) own 74% of the Company’s common stock outstanding. Since going public but prior to the formation of the Special Committee described below, the Company and Insiders had been active purchasing shares, acquiring 11 million shares, or approximately 6% of the outstanding common stock of the Company at a weighted average price of approximately $6 per share. The Company announces today that the Board has approved a new $50 million share repurchase authorization. As of the last reported quarter-end, October 1, 2023, the Company had $163 million of Cash and Cash Equivalents (including Restricted cash) and an undrawn approximately $90 million Revolving Credit Facility.
The Company also announces that in the fall of 2023, the Board formed an independent Special Committee of the Board to evaluate certain strategic transactions, some of which may result in the Company becoming a private company. No assurances can be given that the Special Committee’s assessment will result in any change in strategy, or if a transaction is undertaken. The Special Committee has engaged legal and financial advisors to assist it with its review. The Company does not expect to make further public comment regarding these matters unless and until a specific transaction or alternative has been approved or the Company otherwise concludes its reviews.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our expected financial performance and operational performance for the remainder of fiscal 2023 and 2024, as well as statements that include t
"The LTV continues to be a key focus of the Board and the management have a plan to reduce LTV to the long term target of 40% through selective sales and repayment of debt. The senior debt is 100% fixed, swapped or capped and will not exceed 3.5%. The Company is actively exploring a range of refinancing options for the retail bond given its near-term maturity date."
Still 6 months to go for bond repayment.
There is probably something happening, the bond will probably be rolled over perhaps a sale is imminent and that is needed befor a bond renerwal announcement is made.
Anyway we will find out a week on tuesday, suspect dividend will be maintained, if not some plan might be itemised.
Still think it's over sold.
Well didn't think it would get this low.
Just over a week to after close today, no doubt all will be revealed, well we should know what divi will be, perhaps news on bond renewal or sale of property.
Anyway one can hope.
Anyone got 50 million, think that is all you need to get a majority shareholding.
Must be someone thinking they could make money.
Noticed some large sales yet the share price is not down much, someone buying shares up.
They have said they can refinance the bond, it's not a problem,don't they have some cash to reduce the amount unless they have spent it but guessing it will become clearer in the next coming months.
The board have said they are looking to reduce the LTV to 40% so perhaps something is imminent, perhaps Oakdale house is about to be sold.
The whole sector is unloved.
Someone could buy this and make money
I do think this is oversold.
A large buy and a large sell gone through.
React reported Oakdale house is for sale it's in old Trafford area you had to subscribe to read it so couldn't read the article.
Could Inglus float another company to buy some assets and convert them to flats??
Or another company may be thinking that,pay the bond off and you get nice cheap finance for a few years.
Divi cut perhaps but I don't think it's going busy.
I just wonder, shorts opening, attack by the house, perhaps someone is after this cheap.
There we all were thinking it would rise with US listing
But surprise surprise
An attack on the day it's listed very odd.
DEC should be getting funding from us government as it's closing wells, not drilling them.
Hey ho, glad I sold half this morning and bought back.
Had a note from Hargreaves Lansdown that a 20 for 1 consolidation is to take place, anyone else had this notice. Thing is not RNS so not sure it's cochure came in an email checked with HL they said it was correct.
Suspect this is causing weakness as no idea why
Given the board's contempt for shareholders think trust has gone, and don't like consolidation's
Glad I reduced ex divi, trading the downtrend.
Frustrating share
Well undervalued.
Done nothing while he has been CEO
Perhaps look at his previous companies.
Stand a chance now but a big hill to climb.
I gave up a while ago but still keep a watch on it.
De Hahn will sort this out, I have no doubts but it will take time.
Recent bad press on cruise ship in storm hasn't helped plus inflation on car repairs.
However if debt is sorted out there is light at end of tunnel.
Will keep watching with interest.
I hold shares, not many, thought they are cheap t 320, however the metro bank news is the reason this is falling is my view.
Broker notes far higher, last results impacted by one off charge.
Be interested on any views re metro.
It's funny how shares are reccomended by brokers, then slashed, ie legal and general huge cut recently. Seems to me brokers are pretty hopeless yet they affect the market. XP power was highly reccomended yet is now struggling.
Seems to be holding on to 300p just about.
Not sure where next resistance is
Well regional has offices in Milton Keynes and Croydon so not entirely irrelavent, to counter my positive comment, I heard on the radio this morning that out of town offices are in demand dueto working from home, most of regional are in the centre, allbeit close to train stations.
Still think it's too cheap at this price, they still sell in auction so if someone just bought all the shares and sold everything up they would make money, sadly I don't have 150 million or I would. Perhaps needs a shareholder action group.