Brighton Pier Share Discussion Threads

[kirmich] 04/7/2024 20:46

Thx for the answer mr Croot and for the extra insights

One extra question on your build up of your shares, did you buy them all on the regular market of did you purchase them in off market deals? And maybe a second question, did you know who is selling?

[thecroots] 04/7/2024 19:21

hi Dartboard

my main area of buying was from 34p which Sent the price up to near 60p.

I aim to get to 4%

[dartboard1] 04/7/2024 18:19

Such low volume that any day someone decides to buy or sell it moves the price. No idea how you managed to accumulate Crootes without sending us to 2 pounds

[thecroots] 04/7/2024 17:22

Hard to imagine that this was 120p in 2022 - even harder to imagine that the share price now is at the same level than it was during Covid when the pier was closed!!

[thecroots] 04/7/2024 17:20

I get your point - I have spoken to the CEO a couple of times and i know for a fact that she has 3 personal family events (I won't share what) within the next 12 months to pay for - so i would imagine that may have played a part. Who knows..

Nonetheless, if i was CEO and i wasn't sure how things were going to pan out for the financial year then i wouldn't buy any shares. Sure, it would be better if the amount was higher but a director purchase - big or small- does send out the right message.

[thecroots] 04/7/2024 16:37

Could also be a tree shake for a big buyer if Kirmich could only buy 2500 rather than 10k

[thecroots] 04/7/2024 16:34

Pug,

PIER has indoor crazy golf centres in high footfall areas. Each one two 18 holes!!

[pugugly] 04/7/2024 16:29

Could there be a risk of new gov compulsory purchase of some golf courses for housing at price of undeveloped land - Golf mainly played by middle and upper classes?

Could it be this is is a possible Red Flag? Pun intended? Remember many years ago they introduced a betterment levy.

[thecroots] 04/7/2024 16:20

Agreed- it is very well managed.

[thecroots] 04/7/2024 16:19

Kirmich,

I had this conversation with them last November. Cannot see that happening. I think we would get an offer from Private Equity first. It was private equity owned before. Their answer was that do you think Luke Johnson would accept an offer of say 60p per share when he added funds well over 100p?

I have a 3.5% holding now. I may add a few more and the Brighton Pier group website has been updated to show..

You have to think that the CFO isn't getting any younger - none of us are, so i would imagine he will be hanging up his boots in a year or two, maybe longer. But he also has a 3.1% holding - so obviously he would like the share price to be higher than it is now. And of course a place to sell them.

Also the CEO bought 10k shares in May. I doubt she would have bought if something was wrong. LWV had a good start to the year being 7% up. I am also hoping we have had a bit of business from the football showing in the bars. I know on the pier that had a big screen showing.

Don't forget the £4.9m lease impairment chargeback is going back on this years accounts so that will show as paper profit.

I think LWV is the one that will have good comp figures this year as their new dynamic pricing seems to be working good. Just need the weather to be kind..

Cavendish have a 12 month price target of 75p and considering NAV is 61p , the current share price really is a steal in my opinion...

[kirmich] 04/7/2024 15:57

Tried to purchase 10,000 shares at 38 pence, got 2500. The only worry i really have is they will take it private.

It is very well managed and in a good year they can get free cashflow of 8 million i think. For a 16 million market cap.

Maybe its time to make an inventory of the amount of shares we represent? With the Croots family its easy as they are a 3% holder. I have far less with 111.000 shares. But at current prices i will be adding more.

[thecroots] 04/7/2024 15:57

They have already said they want more golf sites....

[thecroots] 04/7/2024 15:55

No - we need the golf. Golf earns decent money. 98% gross profit.!!!

Agreed though, a few £10k trades and the share price should recover but thats not the point. These falls shouldn't happen on very low volumes.

I think they were looking at appointing the Edison group to improve liquidity. Don't ask me how they do it though!!

It doesn't help that a lot of Market makers are running flat books. Of course, that will help any reversal as no one will have stock to sell.

[davidosh] 04/7/2024 15:49

How do we get improved liquidity in smaller companies? It is the same for most stocks below say £100m these days and Market makers do not carry stock so restricting themselves to a very minimal market size.

Any thoughts?

Maybe we need a platform where we list what we want to buy or sell and set prices ourselves

[ijamlon] 04/7/2024 15:24

Any of us decided to put 10k in it would be back at 45 in a few trades. The liquidity is a real problem with this share, it needs to be addressed, currently it's uninvestable. Even private equity has about a seven year time horizon for return of capital. This one is just money locked up indefinitely and unextractable except for pennies.

[davidosh] 04/7/2024 14:26

It seems like there is selling pressure. Maybe the poor weather is worrying weak holders.

[thecroots] 04/7/2024 13:36

They have got rid of the 3 loss makers. The other bars make OK money. I think Lola Grand does really well i think...

But yeah, bars aren't like they used to be....

[bookbroker] 04/7/2024 12:55

Rather believe they should get out of bars full stop, brutally competitive, and high cost base.

[thecroots] 04/7/2024 11:04

Yeah, the edison note says NAV is 61p.

Volume is miniscule. PIER has moments like this.

Let just hope the weather stays warm and dry far more than it did last year. And no hotel fires!!

[ijamlon] 26/6/2024 21:30

Last year we got a trading update on 25th July, wonder if we'll get a repeat this year