Hollywood Media Share Discussion Threads

[spob] 11/7/2006 00:07

How much have you got tied up in HOL ?

[pussywillow] 10/7/2006 23:50

Finally, I agree with your view on the manipulation of the share price pre-MBO. If releasing *exactly* the same bad news about *exactly* the same poor numbers, in four "different" press releases over a period of two or three months isn't manipulation, I don't know what is.

[spob] 10/7/2006 23:44

You could be right

i must admit that i just quickly skimmed through the article this morning

just the uk business up for consideration

The whole business is worth much more than 80m

[pussywillow] 10/7/2006 23:40

Also, the article reporting that Bridgepoint/Permira bought HP for £210 million is, again in my opinion, a little misleading. They paid 25p per share (there were only about 100 million shares available), so the total cost of 100% of the shares would have been 25.4 million (had all the shares been available to buy). They didn't manage to get 100% (they got around 93-94%). The rest of the 210 million figure quoted was, as I understand it, loans to HP - which had to be repaid to Bridgepoint and Permira. To repay the loans, I believe HP issued more shares (leading to the above-mentioned dilution of existing shareholders - which, as a minor shareholder, I heard nothing about - and for which I still have no details) and sold off parts of its business. I can only assume that all the newly-issued shares were purchased by Bridgepoint/Permira. I don't know how many shares were issues, or at what price, but I'm guesssing it was around another 100 million or so, sold at around 25p per share. Who knows - I mean, you'd think a company would inform its shareholders about this, but apparently not.

[pussywillow] 10/7/2006 23:31

Actually, in the Virgin Deal, Holmes Place is valued at about £80 million - the combined company (Virgin Active + Holmes Place) is valued at £700 million, and perhaps £1000 million by the time of an IPO next year. Bridgepoint/Permira are essentially trading in Holmes place for 12-15% of the combined company (though they are hanging on to some European branches of HP).

I understand that Bridepoint and Permira diluted remaining shareholders by some amount over the past couple of years. As a shareholder, I received no information regarding this, but from what little snippets I have picked up I believe existing shareholders have been diluted to 50% of their initial holding. If this is the case, then the current £80 million valuation of HOL suggests each original share is currently worth 40p, or up to 55p should an IPO happen next year (though of course any such shares will presumably be converted to shares in Virgin Active).

This is all personal opinion of course - I hope I'm right, as I've tied up far too much cash in this unfortunate project - the lack of information and transparency from this company's management has been horrifying.

[spob] 10/7/2006 03:54

Branson poised to take Holmes Place
By Philip Aldrick

The Telegraph

(Filed: 10/07/2006)



Sir Richard Branson's health and fitness business, Virgin Active, is little more than a month away from taking over the UK operations of Holmes Place to become Britain's largest health club group.

Sir Richard is conducting due diligence on Holmes Place and is believed to be near to finalising a deal, with agreement expected in early September. Banks are already being lined up to refinance the group after the merger.

Holmes Place's private equity owners, Permira and Bridgepoint Capital, are keen to inject their 48 UK clubs into Virgin Active's global portfolio of 111, 25 of which are in the UK.

In exchange, they will take a joint stake of up to 15pc in the enlarged group. They will look for an exit the following year, when Virgin Active hopes to float.

Merging the two companies will create Britain's largest health club operator by turnover and profitability, and second-largest after Fitness First by membership.

Virgin Active has 800,000 members, including its operations in Italy, Spain, Portugal and South Africa. Holmes Place has 190,000. The deal is expected to put a £700m value on the business.

Virgin Active managing director Matthew Bucknall, who will continue to run the enlarged group, has grown operating profits at 102pc a year from £3.8m in 2002 to £31.3m in 2005. Growth has mostly been organic since the group founded in 1999.

Bridgepoint and Virgin Active have had profitable relations before. Bridgepoint bought a £110m stake in the latter in February 2002 to fund expansion of the chain. Last October, Virgin Active bought the stake back for £135m. It is thought to be looking to its management to improve the fortunes of its Holmes Place investment.

Bridgepoint and Permira bought Holmes Place in 2003 for £210m, and will retain its Swiss, German and Austrian operations.

[spob] 10/7/2006 03:51

i always felt the share price of these was manipulated before the buyout at 210 million to get the price down to an absurdly cheap level.


This company as i remember was sold off way below asset value at the time after a number of well timed profit warnings.

Barstards

Now all of a sudden the company is worth 700 - 800m

Another one for the fsa to ignore.

[antline] 12/3/2006 17:32

R any minority shareholders trapped in here?

[matto] 01/12/2004 12:44

QXL appear to be trying a similar stunt, so was wondering if anyone had held onto these shares as was considering holding onto my QXL.

[hotfinance14] 01/12/2004 12:35

We all sold and lost big time.We were screwed.

[matto] 01/12/2004 12:22

Anyone still hold these and/or have any idea as to their value?

[stevedyer] 22/1/2004 14:17

GOT THEM


2004 New Year Thursday 1 January
Easter Friday 9 April
Monday 12 April
May Monday 3 May
Spring Monday 31 May
Summer Monday 30 August
Christmas Monday 27 December
Tuesday 28 December
2005 New Year Monday 3 January

THX

[dodddy] 22/1/2004 12:12

try their website

[stevedyer] 22/1/2004 08:47

Does anybody know the dates when LSE is closed this year, or know where I can find them?

Many Thanks!

[luby] 29/8/2003 12:20

Many thanks for the reply. I'll chase my broker!

[tanick] 28/8/2003 11:09

I sent my shares in the day after they ceased being traded and got a cheque 3 days later.

[luby] 27/8/2003 01:14

Has anybody received payment for their Holmes Place shares under the terms of the open offer?
I've read through the press release of 9th July when the offer was declared Wholly Unconditional and it reads as though I should have received payment for the shares I owned within 14 days of that date. Is that correct and should I be chasing my broker because I've yet to receive any payment?

[el-tel] 17/8/2003 19:39

fair comment as regards to the health bit ! mind you re my post 395 , SISU capital a hedge fund manager have bought 8%, so perhaps there is some future !

[mercier et camier] 17/8/2003 12:54

You are part owner of a club. As for the club having "health" mmmmm???

[el-tel] 16/8/2003 21:20

mercier, I agree I am now a part owner of a health club !

[mercier et camier] 16/8/2003 09:38

el-tel and Zynks

Go back and read the documentation you are not holding any Holmes Place shares.

[zynks] 12/8/2003 09:31

For the record, I am holding also.

[el-tel] 12/8/2003 08:13

I am not selling , interesting article in sunday mail 2 weeks ago. SISU capital a little known hedge fund manager have bought nearly 8% of holmes place. they say quote it thinks bridgepoint and permira are taking advantage of holmes place situation and stand to make a lot of money from this deal. that is the feeling we all have and is why i am staying in ! in addition they accept that they will receive no dividends or income from this investment, so they can only be looking for capital growth

[esmerelda] 12/8/2003 01:03

True, and when they refloat at £2 in 18 months time what will we say....