Georgica Share Discussion Threads

[tooredtobleed] 03/7/2007 17:05

Want to bet on a large equitity issue after some good trading figures for the last two months, or am I just a nasty old cynic.

[tooredtobleed] 03/7/2007 09:13

Didn't the option to buy back the bonds in June expire?

[tooredtobleed] 27/6/2007 09:20

Very strange dream last night, dreamt that Georgica's offices were empty!

[tooredtobleed] 25/6/2007 16:43

I would not buy it yet (wait until the effect of the smoking ban takes hold) but CPUB on AIM might be an interesting alternative to GGA, the latter seems to have run out of steam for the moment. It is a relatively new share, with a well regarded management who run a tight ship in their own particular sector of the pub market. I am looking for sub 100 to get in, so it will take a while

[tooredtobleed] 21/6/2007 11:32

Rising interest rates and falling sales (as far as we know) don't exactly inspire with an AIM co with 90-100m in debts!

[tooredtobleed] 21/6/2007 11:30

Latest rns:

"Strategic update

Since the first quarter results were announced on 2nd May 2007, discussions have continued in relation to Georgica's planned sales and leaseback, financing and demerger transactions.

Georgica is now in a position to proceed with sales and leaseback transactions with identified parties but continues to have discussions with regards to appropriate bank finance for its future needs. Georgica will only proceed with the sales and leaseback transactions and the repayment of Georgica's floating rate note when appropriate bank finance has been agreed.

Since the announcement on 2nd May a number of alternative options to create a liquidity event in 2007 have become apparent. These options are now being fully explored and compared with the proposed demerger.

A further announcement will be made when appropriate."

Banks don't want to lend any more money even short-term, by the sounds of it - love the sound of that "liquidity event", though. You've gotta love those AIM boyo's!

[tooredtobleed] 12/6/2007 12:24

price falling fast, probably going to have some definitive (and not so brilliant) demerger news..

[tooredtobleed] 07/6/2007 09:55

Thanks for that, have just sold NAS at a nice profit (actualy thought it was going to peak at 1100 some time back but it just shot on through) but not yet ready to buy back into GGA - the bond buyback should be going down about now I think, but no news on how they are going to finance it yet.

If someone is bored and has nothing to do it might be interesting to go back over the last five years of GGA, add up all the director salaries, expenses and consultant fees and compare that with the total profit over that period. But to be fair, it is the kind of heavily geared company that could easily have gone bust if the banks didn't have faith in the directors!

My fear now is heavy share holder dilution to clear the debt when the co is split into two!

[baggywrinkle] 01/6/2007 16:48

No connection that I am aware of. NAS announced the likely takeover of one of their main unquoted stocks which, if it goes ahead in mid June, would increase NAV around 75p per share - hence the rise. NAS has been a fantastic stock over the years, but it is getting more difficult to perform as it is now between 200 - 300M mkt cap.

[tooredtobleed] 25/5/2007 17:40

At one point today the MM's brought the spread right down, as if the shares were going to fall...

Meanwhile, North Atlantic Smaller co's Investment Trust rose by five percent - they have a huge stake in GGA.

No idea if there is any connection between these events but since I switched from GGA to NAS I am, er, smiling!

[tooredtobleed] 13/5/2007 03:11

Should be some news soon on financing the 50 million bond buy-back - will it be short-term, as in rolling the debt over into diluted shareholdings when the demerger goes down or long term as in splitting something like a 100 million total debt between the two companies?

Not entirely sure what will happen to Georgica itself, will shareholders still have a stake in this then shell company which may or may not have property assets from the two new co's?

[tooredtobleed] 02/5/2007 12:54

first quarter results not impressive but share price holding up well, looks like it doesn't want to go below 120

[tooredtobleed] 30/4/2007 16:08

results are late compared to last year, never good news esp with AIM co...

[tooredtobleed] 24/4/2007 03:14

looks more like no-one has the kind of dosh Georgica wants for a buy out...

[the loan ranger] 15/4/2007 20:30

Please I've held out on the ups and downs of this one...looks like a bid might be coming...thoughts anyone?

[tooredtobleed] 04/4/2007 13:03

Hmmm, that is a good point, we are forgetting the tie up with the poker/internet gambling on the back of the change in gambling laws, getting more complex by the minute as most of any income should be mostly profit as the overheads are already paid up. I still think there will be a bit of misdirection going on and think it is better to buy in after the split...

[tooredtobleed] 04/4/2007 01:54

Worse yet trading, all these minor percentage falls are probably having a disproportionate effect on profit or lack thereof.

Now seems we are going to have the two companies demerged with new bank financing whilst simultaneously selling off the freeholds and long leasholds to an unknown company rather than tucking them into Rileys whilst (probably/possibily) loading up Tenpin with an excess of debt.

Presumably, the banks forced them to do the (expensive, can I be a consultant, too?) bond issue which is now being called in and balanced against the asset sales, allowing them to refinance (expensive, can I be a consultant, too?) again at a somewhat lower level but no guidance on this.

So on one level a classic case of asset stripping and on another a complete refinancing whilst muddying the waters by splitting (expensive, can I be a consultant, too?) into two separate companies (or perhaps three if the original GGA remains)... don't you just love AIM co's!

[tooredtobleed] 30/3/2007 02:12

May be better to hold NAS.L which has a large GGA holding but which has been doing well so far, still fear share dilution as a means of getting rid of the debt, most likely with a large wedge disappearing to the advisers

[tooredtobleed] 21/3/2007 11:49

Anyone know what the disgraceful gibberish in the latest rns means:

NOTICE IS HEREBY GIVEN pursuant to Sections 9.06 and 13.01(b) of the indenture dated as of June 30, 2005, among Georgica plc (the "Issuer"), the Subsidiary Guarantors named therein, The Bank of New York, London Branch, as trustee (the "Trustee") and The Bank of New York, Brussels Branch, as registrar (the "Indenture"), that the Issuer and the Trustee have entered into a First Supplemental Indenture dated as of January 31, 2007, a Second Supplemental Indenture dated as of February 8, 2007, a Third Supplemental Indenture dated as of February 15, 2007, and a Fourth Supplemental Indenture dated as of March 16, 2007, respectively, pursuant to which the following companies, each of which is a private or public limited liability company incorporated under the laws of England and Wales or Scotland, and a Wholly Owned Restricted Subsidiary (as defined under the Indenture), have agreed to provide a Guarantee (as defined under the Indenture) of the Notes in accordance with the terms of the Indenture and to be bound by the terms of the Indenture as Subsidiary Guarantors thereunder:

[tooredtobleed] 20/3/2007 14:34

well not yet. i think this share is now in a zone of total unpredictability, helped along by not a lot of press coverage or info from the management, and could either double or halve in value in a ridiculously short time... ie I really haven't got a clue what is going to happend next!

[tooredtobleed] 02/3/2007 15:15

full year trading results only good in that the final quarter showed some improvement, might well have a nice little short-term bounce about now...

[tooredtobleed] 07/2/2007 09:34

latest rns suggests the split will happen in June, probably, but they will have to buy the bonds back before they can do it and then load the debt on the two co's - willing to bet the bowling group will get a disproportionate amount and quickly die a death after being stripped on its freehold assets - but that is just a cynical AIM investor muttering away rather than hard fact.

[tooredtobleed] 05/2/2007 12:03

new rns on poker partnership has given the shares a nice rise but may still be better to wait for the share split and see what happens (I much prefer Rileys of the two options)

[cretin] 22/1/2007 18:15

600k plus buys and down 1/4, that makes a lot of sense