Rare Earths Share Discussion Threads

[cn100] 20/7/2008 17:26

Sounds to me that Luminar would be interested in buying Regent Inns and doing a deal but Regent Inns will not talk to them - YET! This one looks quite likely to be bought out over the next couple of months. I might look to buy some shares this week.

[sscrabble] 19/7/2008 14:40

Luminar Says Hasn't Made Offer for Regent Inns, Not in Talks

By [bn:PRSN=1] Alexis Xydias []

July 19 (Bloomberg) -- Luminar Group Holdings Plc, the U.K.'s biggest nightclub owner, said it hasn't made an informal offer to buy Regent Inns Plc, denying a press article today.

Luminar is also not in talks with Regent Inns, it said in an e-mailed statement today. The London-based company reiterated it is trying to sell its 49 percent stake in its bar unit, 3D Entertainment Group Ltd.

``It is disappointing to note that Regent Inns has always declined to enter any discussions with representatives of 3DE to evaluate the financial and commercial logic of a combination of 3DE and Regent Inns,'' Luminar's statement said.

The Times reported today that Luminar had made an informal bid for the U.K. owner of the Walkabout pub chain and Jongleurs comedy clubs, without citing anyone.

To contact the reporter on this story: Alexis Xydias in London at at [e-mail]
Last Updated: July 19, 2008 07:48 EDT

[farkyus] 19/7/2008 10:30

LUMINAR TO BUY REGENT INNS - The Times reports

[mensrea] 14/7/2008 23:17

it is dead

[u813061] 28/6/2008 00:41

Buying old orleans was a big mistake. Failure to invest in its core estate has led to a historic overstatement of profits. The equity is worth nothing as debts are high and banks have first call now that covenants have been breached.

[themariner] 27/6/2008 12:24

A lot of the hedge funds and the like who play games during offer periods will now be getting out.

I can actually see them seeing this out. As many more operators (mainly very small operators) fold or close, you move towards the last man/men standing situation - those that survive the wreckage actually emerge more profitable.

I think the sale and lease back talks will now progress, knock a bit off the debt and some confidence will return. I'm considering buying. I've been a fierce critic of REG for ages but the valuation can become compelling.

[sscrabble] 27/6/2008 09:29

No directors buying ? - even at 4p ? - I think that tells how the story is going to end

[still waiting] 26/6/2008 23:11

like the house builders, estate agents and furniture retailers there's far too many pubs and not enough demand.

lots and lots of businesses to go to the wall this summer.

[8trader] 26/6/2008 16:09

Too much debt for this one and declining sales !

Greed is a bad thing too, these nightclub operaters moan about
falling sales but they still dont drop their prices to get in
the places, people wont pay anything from £3-10 to get into a club,
they should have free entry and then their sales will jump !

[sscrabble] 26/6/2008 16:06

Shares plunged on the news - no - shares plunged BEFORE the news

[audereestfacere] 26/6/2008 15:37

So REG's MKT CAP is about £4.5m, let's start a whipround so we can launch a takeover bid.

[andrbea] 26/6/2008 14:55

yes, big sells

this is what spooked it methinks

In reaction to the news, Dresdner Kleinwort cut its stance for Regent Inns to 'sell' from 'hold' and slashed its target to 2.5 pence from 15.0, while KBC Peel Hunt also cut its rating to 'sell' from 'hold'.

[pictureframe] 26/6/2008 14:25

ouch someone dumped a million shares at 4p

[djfrankie2] 26/6/2008 13:20

The leak was that all talks were off , there were and still are interested parties for sure however obtaining funding during the credit crunch proved to be the end of talks.
I have read the update several times , they have addressed the debt issue , they will sell and lease back units bearing in mind Newquay Walkabout must be worth a few million alone.
I also note they have had a boardroom reshuffle , they are also looking to offload underperforming units and cutting back on spending so technically things should improve from here and at 5p and 6p a share i bought a fair few.
They also have lots of underperforming subsidiaries that may need to be looked at to reduce costs.

[davius] 26/6/2008 09:09

All talks off then, 5 months of meetings came to nought.

I presume they'll need to look at refinancing now to get the debt down to a more manageable level.

[sscrabble] 26/6/2008 08:03

sscrabble - 24 Jun'08 - 09:12 - 369 of 373 edit
The share price drop over the last couple of days surely is due to a leak of impending disaster - I hate it when the insiders can recoup by insider trading whereas we will lose all.

Do you email the FSA about dealings that were obviously done with inside knowledge, or do you have to write?

[isis] 25/6/2008 09:13

I spoke to an ex-Publican friend on Monday who said he would never go back in while their is a smoking ban underway.
It has killed all the trade - smokers drink more.

[themariner] 24/6/2008 10:12

Guge reputational damage to the likes of Bob Ivel? I think he'll find a solution. What shareholders will get I don't know. I still find it hard to believe that the walkabout estate isn't worth £50m to someone, the Old Orleans restaurants £15m, and the comedy clubs and Risa's £15m. That's £80m. Repay debt and there's £10m for shareholders?

There's also the last man standing argument. With all the other closures going on it actually makes it better for the remaining survivors.

Remember we've been all the way to 10p before. This time is very different though.

They said they were in talks with SEVERAL bidders. It is indeed bad times if ALL of them have fallen by the wayside.

[isis] 24/6/2008 09:15

Look at Marstons - debt £1.7billion.

[isis] 24/6/2008 09:14

Davious - it's not the value, it's the debt - highly leveraged borrowings - no punters.

[sscrabble] 24/6/2008 09:12

The share price drop over the last couple of days surely is due to a leak of impending disaster - I hate it when the insiders can recoup by insider trading whereas we will lose all.

[davius] 24/6/2008 09:07

I have a recollection that a bid sitation can run for six months before the parties have to make an announcement, a 'put up or shut up' scenario. Can anyone confirm?

I took a punt here a while ago but thought there'd be a cheaper re-entry point later so sold out at 16p in March. I just looked in again to see the share price at 6.54p and the entire company worth a mere £7.37m.

If that six month rule applies then there would have to be either a formal offer or a statement that talks had terminated within the next month or so. Too risky for me I think, even at these levels.

[isis] 24/6/2008 08:55

Talking to a couple of ex-Landlords yesterday, both given up the Pub game - one of them a non-smoker. Neither would take a Pub for free tenancy - the smoking ban has killed the trade, i'm afraid.