lol... cloud seeding. What you been smoking Crootes |
 Hi Guys,
Some good conversations there.... Thank you.
I was speaking to their PR company yesterday.
Obviously they couldn't say anything to me that's not in the market domain, but suffice to say the current depressed share price disappointment is also shared by the directors and I was told this is the whole sector as a whole and not just PIER.
He also mentioned that the Directors are confident that it can navigate the rise in NI and national minimum wage.
In short, they are hopeful - and confident - the share price will correct in time.
After the exchange was finished, i personally felt a lot more confident.
The main thing is , we need the Government to stop messing with the weather with their cloud seeding programme. Look at when the planes stopped flying and what beautiful weather we had...
As an aside, someone has been buying 10k shares every day for the last 3 or 4 days. With a 15k trade also thrown in. Small £ value but large in terms of PIER volume!!
Very unusual buying. But of course, pleased with it.
I'd rather have a small dividend proposed. Even the mention of say a small dividend in the next financial year would help the share price loads. Becoming a dividend paying stock always attracts.
A few director purchases would help too. |
Ijamlon3 Dec '24 - 09:12 - 514 of 518
Yes a growth plan could help too. We used to get very good online updates and Q&A from Anne Ackord giving more detail on the gameplan, but this has tapered off.
Can you give me a link to one of those....I have been trying to get them to do a presentation without any luck |
Ok. Thanks for your reply. If those are the covenants, then they can’t do much anyway. And agreed, they should not be buying back shares above intrinsic value. |
Not sure there's enough liquidity to get a decent size buyback in place. They'd push the price up almost immediately. And then be buying them at fair value and above before any material reduction in share count. Grow the business and let the market run the price up once it's clear it's a growing business. What's the boards strategy. Something like ... to be a consolidator of leisure assets. Haven't seen any consolidating going on for some time. Maybe due to the covenants. |
It could be they're restricted from doing either growth or buybacks with the debt covenants. One of which is quite restrictive. to have cash availability of 3.5m. They had 3.7m in June this year. |
Dartboard,
Why would you prefer them to spend money expanding, even at - let’s say - a prospective RoE of 20%, when they can basically buy 10 pound notes for 5 pounds by buying back shares? |
Yes a growth plan could help too. We used to get very good online updates and Q&A from Anne Ackord giving more detail on the gameplan, but this has tapered off. |
Yes true. I just don't see the current listed status as sustainable at this low market cap, and with 3 investors holding two thirds. What's the purpose? There is no secondary market, any trade bigger than a few hundred pounds moves the price. They can't raise new capital through the listing. It just creates burden and negative feedback loops. From a minority shareholder perspective this is a worse situation than being owned by private equity, where at least there would be an exit and capital return timetable. Something structural is going to have to happen before the end of next year. So far Soros and Hackney have been dormant but they will have their own objectives and fiduciary duties and can't get stuck in a dead money lobster trap indefinitely. |
Would prefer they use spare cash to build these clamping pods, refurb golf venues, or buy new leaseholds for golf venues, or new games/rides... once there's no further options like this and still more cash then yes. |
Agreed. But they will argue it will decrease the - already low - free float, which is a very weak argument. |
Considering the very low value and liquidity of the stock now, I think it is time to start putting a much bigger chunk of the net cashflow into buybacks (including some open market, not just direct block trades). It would be highly accretive to earnings, likely very supportive to the share price, and give a break to patient minority investors. If operating performance normalises, they could probably buy back a third of the company over 3 years at this price, which translates into about 50% eps growth. |
Thanks for the reply. I hope you are right on that. It’s been a long time since they opened one! |
NO worries
The issue with the golf is trying to find good locations. They'll come I'm sure |
Thanks Croots. I hope you are right. I really do not understand why they don’t expand the golf business - it seems extremely profitable, high margin and not too capital intensive |
It's up 2p on the bid today.
It's just an illiquid stock in an out of favour sector.
I'm holding tight seeing as the trading volume is practically zero and any sells are so small.
Here's hoping again to better weather in 2025....
In my opinion, its definitely a tuck away share this one.
I'm hoping that after 2 director purchases in the last 6 months that we could have some more so show faith at these levels. Seems WAY WAY too cheap considering how much was paid for each individual division.
In 2022, this was nearly 120p.... so we have a lot of potential.
Has anyone topped up? |
What is going on here? Price continues to fall. |
Blimey, some welcome support for Cavendish on the bid on Level 2.
Not had that luxury for a while.!! |
Yes - hopefully be some kind of boost.
I heard that they may charge more of an entrance fee during the peak seasons which is absolutely the right thing to do considering rising labour costs
Hopefully with only 50% cut in BR on AIM stocks we could get some relief. AIM market did rise today overall. My SHOEZONE shares rose 6% |
And it’s half term ! |
Agreed.
I think we are in for good weather for the next week or so aren't we? |
This mild weather can be a small bonus after a difficult year. Hope it attracts some people |
Hi Dartboard,
Operating partner i think. Which i think is the best option.
Anne is the right person for this as she was at the helm of Bourne Leisure. I've not been but i have been told that LVW park grounds/views are stunning and it would make sense to utilise this.
I'm also pleased the Pier will be charging admission again next year (From March this time - so a lot earlier) so it will capture a few months more admissions which should help the numbers a bit next year.... |
Yes. Was hoping Crootes would say the shovels are in the ground |
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