Member Info for Thecountofmc

Ryanair are long problem Boeing planes, EasyJet are not. Easyjet win.

Yesterdays sell off in European airlines started at 14:10 & 14:15.

At 14:06 large sale in easy jet.

Sell off being attributed to M O'leary comments.

Someone knew

On 19 October RTN made the following announcement

The Restaurant Group plc today announces that it has issued, conditional on admission, 5,150,530 ordinary shares of 28.125 pence each in the Company ("Ordinary Shares") pursuant to a subscription by the Company's Employee Benefit Trust to satisfy share awards granted to employees under the Company's Restricted Share Plan.

"Application will be made for the admission to trading of the new Ordinary Shares on the Main Market of the London Stock Exchange and to listing on the Official List, with dealings expected to commence at 8 a.m. on or around 24 October 2023”

Following the issue of the new Ordinary Shares, which will rank pari passu with all existing Ordinary Shares, the Company will have a total of 770,212,928 Ordinary Shares with voting rights in issue. The Company currently holds no shares in treasury.

In the grand scheme of things 5.15 million shares might not sound a lot but if 25 shareholders own 79% of the shares (SimplyWallStreet.com) and i read institutions own in total 86%. There are 15000 staff.

If 25 own 79% of 770 million leaves 162 million shares owned by the rest. It's not unreasonable to assume say 100 shareholders own 85%, further reducing the count. Even if only half of the staff got shares there is potentially a large pool of holders motivated to vote in favour of the scheme. This could and probably will overwhelm the votes of long term holders

Upon checking the Scheme document

18.1 The fully diluted issued ordinary share capital of 778,379,613 TRG Shares is based on:

A) 770,212,928 TRG Shares in issue as at the Latest Practicable Date; plus

(B) 11,390,430 TRG Shares which may be issued on or after the date of this Document pursuant to the TRG Share Plans; plus

(C) 2,349,164 TRG Shares which may be issued on or after the date of this Document to satisfy the exercise of Awards already granted, calculated using the treasury stock method and in accordance with the intentions set out in Schedule 2 of the Cooperation Agreement; less

(D) 5,572,910 TRG Shares held by the TRG Employee Benefit Trust that can be used to satisfy the vesting and/or exercise of Awards granted under the TRG Share Plans as at the Latest Practicable Date..

Around 24 October there were hundreds (possibly thousands) of share trades on LSE in repeat sizes. (Shapes - 300,998,2068,2635,3000,3065,3276,4332,4586,5000,5210,7607,10000,11000,13085,13980,16764)

I am not sure what the process is for issuing shares to an EBT. Are these trades sales by the staff of their EBT entitlements or are they the awards being issued to the staff brokers? I have no idea what the terms of the awards are.

Anyway from what I can see this will get voted through but I do question the morality of issuing shares after the deal was announced. Is it even legal?

HOTC

Spot the odd one out.

City Pubs - 65% premium over 3 months average price

Hotel Chocolat - 194% premium over 2 months

RTN - estimated 45% premium over 2 months average.

Is there any way to find out how many individual shareholders there are?

Today 07:00

RNS Number : 3239R

Restaurant Group PLC (The)

26 October 2023

THIS IS AN ANNOUNCEMENT OF A POSSIBLE OFFER FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE NOR AS TO THE TERMS ON WHICH ANY FIRM OFFER MIGHT BE MADE

FOR IMMEDIATE RELEASE

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

The Restaurant Group plc ("TRG" or the "Company")

Statement regarding possible competing offer

The Board of TRG notes the recent press speculation and confirms it has received a request within the last week from Wheel Topco Limited ("Wheel Topco"), the owner of PizzaExpress Group Limited, for diligence information on the Company in accordance with Rule 21.3 of the Code to enable Wheel Topco to evaluate a possible offer for the Company. No written or verbal indicative proposal relating to a possible offer, including as to terms, price or form of consideration, has been made to the Board of TRG by Wheel Topco.

The Board of TRG confirms that it will provide diligence information to Wheel Topco in accordance with its obligations under the Code. If any proposal is provided by Wheel Topco, the Board of TRG will carefully consider its terms, in conjunction with its advisers.

For those of you still have faith in Covid vaccinations you might want to see the videos below.

First is Peter Daszak of EchoHealth Alliance who is at the epicentre of funnelling US money to the Chinese for banned gain of function research. He was the lead investigator of the WHO team who went into WIV but failed to ask the pertinent questions. He is 1000% compromised by Chinese money as were the rest of the team except 2 scientists. He has been summoned to speak to the US senate but has refused to cooperate. He is Tony Fauci's middle man.

Just listen at 27:38 minutes (forget the rest unless you have time) where he confirms vaccines don't work against Coronavirus, and he should know. Interview from NIPAH Int'l Virus conference Singapore 2019 before Covid break out.

https://www.youtube.com/watch?v=IdYDL_RK--w

There is substantial globel evidence that these vaccines have questionable benefits and have so many bad side effects they should never have been approved. In fact they weren't approved, not in the normal way. They were rushed through under the early days of Covid panic and the governments indemnified the drug companies because the drug companies knew.

mRNA was discovered in the early 1960s but was found to be inherently unstable so failed to get off the ground as a vaccine delivery method. All that investment was going to waste except when Covid came along and hey presto mRNA gets rushed through and the investors & management cashed in. Follow the insider sales at these companies.

The medical evidence is now overwhelming.

Then listen to this all the way through.

https://youtu.be/mfLycFHBsro?si=GCyciBoblExl26zN

And then do your own research about these vaccines, Tony Fauci, Ralph Baric, Shi Zhengli. Follow the money and patent dates and you will see.

Biggest scam in history.

Thanks for responding. I did note that in the latest annual report 90% of assets were in something called JPM GBP Liquidity LVNAV Fund, which looks like a form of cash deposit. This line item wasn't present in the October 2021 report which was the last report before the invasion. Hence my question. Even so. NAV £5.50 is still a decent return over current price. If NAV is £5.50 this has amazing upside if and when it gets revalued according to current price.

I have not looked at this for a while but thought id take a peek. I bought some of these as a recovery play on Russian equities. I looked back to pre invasion valuations and the current valuation and the amount of equities currently owned has drastically reduced. Did the fund manager exit their holdings? ie sold out near the bottom. Meanwhile Russian equities are back to pre invasion levels. It is still possible to buy and sell this stock so just wondering what happened.

5K BY YEAR END

Any idea why this and tag jumped? There are no shorts in either. Carnival jumped because of a big short interest. Is it only because of AA results? Surely not

Folks, this is not a special dividend. It is very misleading calling it a dividend. This is returning £4.987bn to shareholders from the asian sale by way of a capital payment/share reduction. Has the same effect as if you went and sold 21% of your existent shares. On the positive side the company paid £2.5bn into its pension scheme so arguably it is a better company now that before. But alas a special dividend windfall it is not.

Any one have the number for Couche-Tard?

Some profit taking to be expected, rarely do shares go in a straight line, even Tesla. Lots of good news here, another lockdown quarter of growth ahead (lockdown until end March minimum) = more debt pay down. International sales going nicely especially Australia and soon the US sales effort will start to kick in. "The Board believes that the capital reduction will provide greater flexibility in how the Company manages its capital resources going forward, such as the ability to pay dividends, should the Board determine it is appropriate to do so. However, it should be noted that the Company has not made any decision as to the use of any such realised profits." So more good news, what to do with any realised profits? pay down debt or maybe a dividend. After years of Darby excuses this company is finally rerating.

Buy the godam dip !!

I reckon the sp could get to £2 within a 2 years or be taken over. The business is transformed.

Another exceptional quarter of trading, now expecting Trading profit to be in the range of £145-£150m this year after increasing Q4 marketing investment
• Q3 Group sales up +9.0% and up +12.5% year to date
• Q3 Branded sales up +12.1% and +16.0% year to date
• Continuing to outperform the market, gaining volume and value share3
• Online continues to grow strongly, up +90% in Q3
• Five major brands received advertising investment over Christmas period; more to come in Q4
• International sales grew +43%4; continuing strong trajectory so far this year
• Further £40m part redemption of Floating Rate Notes due July 2022, saving further £2m p.a. interest costs
• Net debt/EBITDA5 now expected to be below 2.0x by year end

Stella set of results. No dividend yet but the possibility is mentioned. Prudently paying down more of their expensive July 22 FRNs. New international markets opening. Whats not to like?
https://www.londonstockexchange.com/news-article/PFD/q3-trading-update/14831504

Article in FT titled "Two-tier ownership"

This further financing package supplements the existing financing measures of the Federal Republic of Germany in the form of a KfW credit line at a total of € 2.85 billion and a WSF warrant bond of € 150 million with option rights for approx. 58.7 million shares.

The financing package includes a WSF financing measure in the form of a silent participation without a participation in losses generated by TUI, which can be converted into shares of TUI, in the amount of € 420 million (Silent Participation I), and a further silent participation with a participation in losses generated by TUI of € 280 million (Silent Participation II).

The conversion price for the WSF in respect of the Silent Participation I is € 1.00 per share. In case of a conversion of the Silent Participation I the WSF will obtain a participation in TUI of not more than 25% plus one share.

The agreement on the silent participations is, inter alia, subject to the approval of the European Commission under state aid rules, the granting of the necessary merger control approvals (where there is a prohibition on implementation) and the implementation of the other components of the financing package.

They are increasing debt surely.