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CPH Clapham Hse

73.00
0.00 (0.00%)
02 May 2024 - Closed
Delayed by 15 minutes
Clapham House Investors - CPH

Clapham House Investors - CPH

Share Name Share Symbol Market Stock Type
Clapham Hse CPH London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 73.00 01:00:00
Open Price Low Price High Price Close Price Previous Close
73.00 73.00
more quote information »

Top Investor Posts

Top Posts
Posted at 07/5/2010 19:28 by liveinhope
"Members of the public are not eligible to take part in the Cash Placing. The
Cash Placing is only being made to persons falling within articles 19, 43 or 49
of the FPO who are also qualified investors for the purposes of section 86 of
FSMA and no other person may participate in the Cash Placing or rely on any
communication relating to it."

Why can't any ordinary existing shareholders take part?

Think Placing Announcement could have been worded far better and more honestly to explain why all existing shareholders could not participate, i.e. need to quickly raise cash to meet good buying opportunities and to do so without costly Rights Issue.
Posted at 18/1/2010 19:52 by value viper
Details of substantial Shareholders
Ordinary shares of 10p each %
Capricorn Ventures International Limited

9,302,280
24.93%
Wolvercote Investments Limited 3,093,350 8.29%
Henderson Global Investors Limited 1,898,000 5.09%
Kaupthing Bank Luxembourg S.A.

1,866,500
5.00%
Schroders plc 1,828,000 4.89%
AXA S.A. 1,781,666 4.77%
Fidelity International Limited 1,776,050 4.75%
Wellington Management Company, LLP

1,736,196
4.65%
British Airways Pensions Trustees Limited 1,263,400 3.39%
Newton Investment Management Limited 1,236,498 3.31%
MF Global UK Limited

1,143,350
3.06%
DM Page 1,119,158 3.00%
The above information has been notified to the Company up to 16 December 2009
Posted at 13/7/2009 13:30 by investinggarden
Avoid recommendation from Growth Company Investor
Posted at 14/12/2008 12:10 by lomax99
GCI:

Companies: CPH
10/12/2008

Clapham House, the owner of the Gourmet Burger Kitchen, Tootsies, and The Real Greek restaurant chains, increased sales 21% in the first half of the year.

By lifting pre-tax profits 114% to £1.5m in the six months to September, Clapham's management went some way to proving the wisdom of its decision a year ago to curb its rapid expansion plans and then this summer to sell its loss-making Bombay Bicycle Club brand. The group used its own cash flow to open nine new outlets in the UK and five overseas in the half-year, after initially foreseeing a maximum of 13 openings over the whole year.

After generating £4m net cash in the period, the group reduced net debt from £13.3m to £12.1m as well as renegotiating its £21.7m banking facilities until June 2012. Chairman David Page says recent trading 'has continued to be satisfactory' and that the board remains 'very positive about the medium-term demand trends for the UK eating-out market, the quality of our formats and, in particular, the national roll-out scope for Gourmet Burger Kitchen'.

The 76p shares, down from a high above £4 last summer despite significant stake-building since then by investors in the UK, Europe and the US, fattened up 8.5p on news of the results and may have found a floor. Broker KBC Peel Hunt, whose analyst Paul Hickman suggests that 'the burger is the traditional food of hard times', is forecasting £3.3m profits and 6.1p of earnings for the full year.

At a cheaper multiple than its competitors it could make an attractive snack to a hungry capitalist. Hold.
Posted at 15/8/2008 07:50 by sheik yerbouti
From The TimesAugust 15, 2008

Sweet and sour for restaurants
Smaller companiesPeter Stiff
Restaurant stocks have been savaged over the past year as investors fled, fearing higher food prices and weaker consumer spending. Falls have come despite the fact that trading across the sector has so far proved relatively resilient, with many operators reporting positive like-for-like sales figures.

There was a short burst of sunshine yesterday for those who have stuck by their eateries, however, as analysts at Dresdner Kleinwort said that the industry was troughing out and that the upside potential outweighs the downside risks. The broker added that the market was attributing too little value to the sector's long-term growth prospects, noting that The Restaurant Group, which owns Garfunkel's, was 64 per cent off its peak.

However, this good news proved temporary as Dresdner cautioned that input cost pressures could continue to squeeze margins as existing fixed-price food contracts are repriced at higher levels.

The broker also noted higher staffing and utility costs and said that sales may come under pressure, with the outlook for UK consumer activity showing few signs of improvement.

Despite believing the sector was close to bottoming out, Dresdner downgraded its earnings forecasts and slashed price targets. This bittersweet outlook sent The Restaurant Group's shares down 1p to 125¼p, although Clapham House and Carluccio's remained flat at 97½p and 118p respectively, while Prezzo rose ¼p to 42p.
Posted at 17/2/2008 14:16 by lomax99
A small section in the Sunday Times today suggests that CPH has been approached by several investors interested in acquiring non GBK elements (Tootsie's, Real Greek & Bombay Bicycle Kitchen). CPH are said to be considering their options - the suggestion is that the proceeds from any disposals could be used to crank up investment in GBK, as a means of warding off Capricorn. Presumably any indication of a move in this direction would spur Capricorn into action.
Posted at 01/2/2008 16:24 by zimzoot
Clapham House Group take-out to be delivered soon

Having been savaged over the past month or so the shares of most major retailers are now looking a little deflated and the prognosis isn't exactly great as consumer spending does not look like it is going to be picking up anytime soon.

By Glynn Davis

Having been through the wringer the retail industry should have some sympathy for its contemporaries on the high street, the restaurant chains, who are expected to be hit possibly even harder than retailers from consumers choosing to keep their wallets shut a little more often and eating at home instead of spending on meals out.

Among those to have been hit pretty hard is AIM-listed Clapham House Group of which I admit to being a bit of a fan. Its model of buying proven restaurant concepts and then using its management skills and financing muscle to roll them out aggressively has proved attractive to investors. And so it came as a shock to find its shares drop around 40 per cent in a day after it issued a trading statement in early.

What caused this rout was its decision to adopt a more conservative opening programme for the financial year to end-March 2009 on the back of the uncertain economic outlook, potential food price inflation and recent increases in rents quoted for new properties. As part of this move it stated its intention to focus resources on growing its Gourmet Burger King brand (rather than the Real Greek, Tootsies and Bombay Bicycle chains).

This sounds to me like a sensible strategy that takes into account current circumstances but it did require analysts to pare back their forecasts and lower their valuations on the group. However, it undoubtedly suffered unfairly as it was one of the first companies to report an adverse effect from the slowdown.

It therefore took the full brunt of the market's pent-up negative feelings, which pushed its share price down to a low of 131.5p. Probably like many retailers, there is nothing fundamentally wrong with the Clapham House business and its model still looks attractive.

So much so in fact that the company's seriously depleted capitalisation soon caught the attention of predators that had been mooted to have been first interested back when the shares were at their high point for the year of 419.5p in May.

Clearly at a third of the earlier price restaurant investor Capricorn Ventures must have been salivating at the prospect of buying into Clapham House. As such it has taken no time to build up a stake of 29.9 per cent - above which it would have to make a formal offer for the group.

It has clearly recognised the value in the business, just as it did with PizzaExpress that it bought five years ago. Interestingly, it won that deal after beating a management buy-out team (consisting of its chief executive David Page and finance director Paul Campbell) who are the pair behind Clapham house. This certainly adds a nice bit of synergy to the current corporate activity.

Capricorn's stake building has helped push Clapham House shares back above the 200p level to stand at a current 207p. But with a take-out price likely to have to be around the 250p mark this appears to factor in a fair level of chance that a bid won't be forthcoming.

This seems the most unlikely scenario in my view, based on Capricorn's past form and the fit of the Clapham House assets into the Capricorn portfolio, which therefore gives investors in Clapham House some upside - as long as they didn't buy into the company prior to its fall in December of course.

This makes its shareholders among the luckier in the sector because it is at a time like this that both the restaurant and retail industries are in most need of investment vehicles such as Capricorn and private equity firms to liven things up a little. But it is the very nature of markets that they are particularly rare beasts right now.
Posted at 10/12/2007 12:37 by lomax99
Further comment:

LONDON (Thomson Financial) - Clapham House Group PLC shares were up 5 pct this morning to 201-1/4 pence after it was revealed on Friday that Capricorn Ventures International had taken an 11.25 pct stake in the Gourmet Burger Kitchen (GBK) and Tootsies Group.

Capricorn amassed the holding after Clapham House last Monday unveiled a profit warning which sent its shares tumbling 40 pct. Analysts are speculating that Capricorn, which owns the Nando's chain, may be preparing a takeover bid for Clapham House.

Capricorn previously took the PizzaExpress chain private in 2003. At the time, David Page and Paul Campbell, who are now chairman and chief executive respectively of Clapham House, were heading up the pizza business.

Thomson Financial News understands Clapham House has not had any discussions with Capricorn regarding the private equity company's intentions, and has been in talks with its own shareholders since unveiling its first half results last Wednesday.

Clapham House, however, refused to comment on Capricorn's stake-building.

In a note to investors, Numis said it is not unreasonable to expect that a takeover battle may loom, with GBK the star prize. The broker said it is putting its 'Hold' recommendation and 176 pence price target under review, but suggested 250-280 pence a share as a "realistic take-out price range" -- valuing the business at 91-101 mln stg.

"Alternatively, Capricorn Ventures may put pressure on Clapham House to de-merge GBK," it said.

Dresdner Kleinwort added Capricorn could look to re-branding some of Clapham House's struggling restaurants as Nando's. It adjusted its target price to 200 pence, taking into account the bid speculation, and reiterated its 'Hold' recommendation.

Numis added that private equity interest is being rekindled in the restaurant sector, given the recent plunge in share prices. It added this is not surprising, given the long-term attractiveness of the sector.
Posted at 05/12/2007 21:15 by silverfern
well they seem a bit like GS, not exactly pro-active, but reactive. A pro-active investor is probably in gold right now, and for the last four months. Anyway those that held their breathe over the last two days were rewarded, a bit, today. I don't subscribe to Jazza's deranged mad-as-a-hatstand he'd-follow-you-home-if-you-gave-him-a-biscuit optimism however :)
Posted at 04/12/2007 11:12 by caffe
I think you are right there! I work in the leisure industry and have noticed the downturn in footfall , also the spend per head is down.
The trouble with guaging this type of business is most investors go into the outlets at weekends when they are all very busy (this is a given in any food outlet). The true measurement is to visit them on a Monday to Wednesday.
If you then have staff twiddling their thumbs you know your going to be in trouble, added factors is the change in holiday pay legislation, the rising cost of produce, the level of competition and the disposal income shrinkage then bad time are definetly ahead.
Shame because initally I like GBK but I think they have no wow factor to retain loyalty or the food quality is good enough to out strip the competition. IMHO

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