|Sports Cafe Holdings
||EPS - Basic
||Market Cap (m)
Real-Time news about Sports Cafe (London Stock Exchange): 0 recent articles
|robin_of_loxley: Is this the sort of hypothetical conversation that could be causing the current decline in share price?
This is the Bank Manager, calling Sports Cafe, come in your time is up ;-)
no advice intended|
|robin_of_loxley: interesting katsy, suggests a slight flaw in the business model, corroborated by a slight weakening of the share price in the last year or so ;-)|
|mike111d: In absence of being able to get hold of either Paul Wright or Bill Balkou, I had a chat with their brokers Teather & Greenwood today, interested to find out what the next steps were and how the board plan to restore shareholder value.
The view of the recent share price movement aside from the talks being called off, was that this was a reflection of full year results coming in below expectations but also being dragged down by poor sentiment elsewhere within the sector overall.
T&G do not rule out an external offer surfacing but with the company being out of the offer period are not expecting one to materialise. When pressed on the matter of an MBO this would appear to possibly have more legs, as a number of us have assumed.
As of now, the board are continuing with their strategic review and the next that we will from them will either be when the preliminary results are released on or before the end of March, or prior to this time if they have anything else to say.
On the basis that since the RNS of January 15th they appear to have been incommunicado, I can't help but wonder if they will have something to share with us prior to the results being released.
I would appreciate hearing what others have to say, especially if they have been in contact with the company in recent weeks.|
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|samwilliams: As an observer and not a holder for the management to issue a statement that full year results are below expectations without giving details of the expectations or the figures seems to be a deliberate attempt to reduce the share price.
The issue of an official statement that talks may be off and more cash is required would suit the management very nicely if they wish to organise a MBO.
If they do not issue a statement to contradict todays then this would almost confirm their intentions for a MBO.
The clever bit is to predict at what price the MBO.
My guess is around 25p.
|mike111d: ob4, well yesterday I was of the opinion that the statement had been designed to drop the share price but today I am not so sure that this was their intention. It would seem that they acted in accordance with the advice received and are not necessarily any happier with the result than we are. Clearly there is more to this than we have seen in black and white in the last 48 hours and in all honestly I don't have if figured out in my own mind.
As others have stated, the release today should now pave the way for a further announcement on the offer to be made, which intuitively I would now also see being closer to 50p.|
|ob4: I think the price was around where it is now when the speculation of the 65p offer pushed it up, so if it did it then, I don't see why it can't now. I think a lot of the drop in share price is just to do with the amount of time it has been dragging on for and the last 2 days haven't helped either....I would hope any offer made would be closer to 65p than 50p but what do I know...|
|zandy: Taking liberty of re-posting Mike11d's previous post (should hear within next 30 minutes):
Mike111D - 9 Jan'07 - 14:08 - 738 of 758
There will be a further release within the hour!
The release yesterday was made based upon advice received from the LSE.
The release this afternoon should also clarify the position Re the offer status.
When I raised the issue of the release yesterday having caused the share price to collapse even though buys have outweighed sales, there was agreement that the imminent release will hopefully rectify this.|
|mike111d: As you maybe aware for sometime now I have communicated with the company and their brokers with a view to understanding how things are progressing in respect of the various offers that are under review.
Whilst there have clearly been delays as more interested parties have entered into discussions with the resulting drag on the share price, the company and their advisors have remained very clear in that a deal is still on the cards, subject to terms being agreed.
Now seeing as this process started as a result of the company receiving an informal offer approach i.e. they were not actively looking to sell the business with more potential bidders subsequently entering the arena this got me thinking, do the existing management team relish the thought of being absorbed into a larger operation, resulting no doubt in a loss of their independence to a greater or lesser extent and perhaps in some cases their positions, with the inevitable reorganisations that would ensue.
So based upon my thoughts above and as a result of the share price fall yesterday I attempted to make contact with the company without success (too many meetings taking place) but I did manage to get through to their brokers with the results being as follows:
The conversation went along the lines of as a shareholder I am concerned about the share price dropping today as a result of a delay in the deal being closed. Response was that a deal remains on and that the fall could be attributed to the article on the back page of the FT today "Market rumours suggest talks have dragged on over concerns about current trading and sharply differing views about the company's worth"
I then suggested that given the size of the company and the board looking to protect their own interests, could they be considering a management buyout which in turn has slowed things down. The response was that it was not possible to discuss such matters with an individual share holder but there was certainly no rebuttal or put down of this suggestion.
Out of interest, I then went onto enquire what the reporting requirement would be if there was an offer from the management i.e. should the market be advised. The response was that no the reporting code does not require an RNS should the management be considering an offer i.e. already covered by the existing disclosure.
So FWIW my interpretation is that a management buyout could well be on the cards and given all of the discussions that have taken place over the past 3 months, the management team would IMO be well positioned in terms of submitting a realistic offer relative to any external offers.|
|thefruits: steddie... if you look at Monstermob today.. the share price fell a bit and they were forced to issue a statement re share price movement then a following statement saying that talks were unlikely to lead to a takeover. I wonder if the mm's tried to engineer a similar fall here to force the company to respond but the sheer weight of buying pressure led to the mm's taking the shares back up again ? unlikely I know but stranger things have happened ? TF|
Sports Cafe share price data is direct from the London Stock Exchange