Share Name Share Symbol Market Type Share ISIN Share Description
Hollywood Media LSE:HOL London Ordinary Share GB00B1WN7R92 ORD 0.125P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 1.375p 0.00p 0.00p - - - 0 06:36:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 144.1 4.6 -0.8 - 0.00

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Date Time Title Posts
26/2/201208:06Hollywood Media Serv First Day of Dealings17
26/2/200911:50Holmes Place open offer payment?6
30/8/200718:31Shareholders Screwed By HOL MBO Price Fix415
27/5/200313:24Holmes Place - bid at 80p?2,178
25/5/200319:29here we go -- here we go -- here we go73

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Hollywood Media (HOL) Top Chat Posts

pussywillow: Finally, I agree with your view on the manipulation of the share price pre-MBO. If releasing *exactly* the same bad news about *exactly* the same poor numbers, in four "different" press releases over a period of two or three months isn't manipulation, I don't know what is.
spob: i always felt the share price of these was manipulated before the buyout at 210 million to get the price down to an absurdly cheap level. This company as i remember was sold off way below asset value at the time after a number of well timed profit warnings. Barstards Now all of a sudden the company is worth 700 - 800m Another one for the fsa to ignore.
georgedent: If you don't choose to take the offer at 25p, you're left with unlisted shares. Selling now for 25.5p is a better deal if you think the shares won't relist in a year or two at a significantly higher level. Clearly some people do, as the shares are currently trading above the MBO offer of 25p. If you are prepared to take the risk, keep hold of them. If not, sell now for 25.5 so that someone else can reap the rewards in a couple of years. This is not advice, but a gut feeling that recent events for HOL would not have taken place if somebody didn't think that there would be some major gains to be had in the future. If the company is turned around and relists with good prospects, these will be a goldmine. On the flipside, the company could go down the pan entirely. I still hold but am undecided on what to do. Like hot, I'll sell if the share price continues to rise. Right now, I'm more tempted to tuck what I have away for the long term. If I were the HOL management, I'd be looking to turn the company around and put it up for sale. As an investor, riding on the back of that one certainly makes sense... it just depends on how long it'll take.... Any thoughts?
georgedent: Don't know how many Goldmans now hold but I suspect they are looking long term. If I remember correctly, once HOL is delisted, should the company need to raise cash through the sale of shares, the existing shareholders will get the option to buy before anyone else. I could be wrong though... More importantly, if HOL relists (AIM seems more likely than a full listing) you can bet it won't be for a pathetic 25p per share. The directors would be looking to take a tidy profit on their holdings. Wasn't there talk on these boards a while back that net asset value was around 80p? Share price on relisting would be around NAV... Shares right now are at a very tasty discount if you're looking that far ahead. Personally, I'm not keen to wait that long.
anglia: Below was posted on iii (by Alan Baylis): "Can I avoid entering the slanging match and give an answer to one of the questions posed here. Firstly, as a former shareholder of Thistle Hotels which only recently go taken over, I have first hand experience of how the timetable for takeovers operates. For the bid to go unconditional they need just over 50% of the shares to back the bid. At that point the bidders have complete control of the company and can seek to have it delisted from the stock exchange thus making it almost impossible to trade the shares. Accordingly most people and institutions will accept once 50% has been achieved and eventually when the company has 90% it will apply to compulsory purchase the outstanding shares. There is no value in holding on once the offer is unconditional but there is value in not accepting the offer until that is the case. The initial offer is often not the final offer. The buyout team will now be in discussions with the institutional holders to seek their acceptance. IMHO they will leave it to the last minute to accept in case another bidder emerges. Alternatively they will withhold acceptance unless an extra 10p is added to the offer or whatever. What the bidders will be doing at this very moment is to see what it is they need to do with their offer to unlock the 24% of the shares they need to get control of the company. There are various timetable stages to a bid. Firstly the offer documentation has to be formally issued before the 60 day clock starts. Then there are a couple of 'closing' dates at which point the bidders will announce how much they hold and that the offer timetable has been extended until the next date. Before the clock finally runs out they will have 'done a deal' with sufficient institutions to get the necessary votes BUT that might well mean more money for existing shareholders. Whilst the share price remains above 25p they cannot increase their holding by buying shares in the market. If you are interested in seeing how a bid progresses then I recommend you put THO in your portfolio and read the news messages for the last three months. My second point is that tabelling a bid is usually the signal for other groups to START to consider a counter offer. A lot of you have suggested Cannons might be interested but whoever it is needs to be able to stump up the £73m of future committed expenditure which derailed the company in the first place. I don't know whether they can afford to do that but if I were in their place AND interested (a big if at this stage) then I would be looking to sell the European assets (and I think we know who might be interested in those) and use that money to fund the requirement for future expenditure. (I don't know whether the £73m is for UK or European construction. If some is for the latter then I will have disposed of some of that liability as well). The counter bidder will then be able to retain the remaining UK assets. My third point addresses the second issue raised in MM's post. I find it unbelievable that the company has the nerve to say if the offer fails then we will have to go to the banks to seek the additional funds. What have you been doing since Christmas (I'm shouting in small letters!) Don't you know yet whether these funds would be forthcoming or not? Don't you think we, as shareholders should be told that? I completely agree with what Morroco Mole says on this point. I won't be accepting the offer until it goes unconditional and I suggest no one else does either until the position becomes a lot clearer. "
ecroyd: The 18 pence bid rumour was first published in the Guardian last Thursday 1st May and in my opinion was the reason for Friday's big sell-off. It was repeated in the Guardian yesterday but I think the damage from this rumour was factored into the price fall to the intra day low last Friday 2nd May. The price recovered from this intra day low by market close on Friday and I think will rise further on opening on Tuesday either on a bid announcement by the management or on the expectation that Holmes will be taken out a price of at least 50 to 55 pence in a MBO by this Friday 9t May at the very latest. There has been a steady stream of negative statements from the company to lower expectations of an eventual bid price but despite the shockingly poor management there is still real value in Holmes Place. The current share price is just 25% of its Net Asset Value. It may have large borrowings but it is still profitable and has excellent cashflow from 260,000 members paying around £60 on automatic payment to Holmes Place every month. The company has taken steps to restructure,cut costs and improve efficiency.It has the No. 1 position in the UK gym market and a growing presence in Europe it represents far greater value than its current share price to either its management in a MBO or to a trade predator. Be patient and watch it bounce!
sugarbeast: April 19, 2003 Holmes Place near to agreeing Bridgepoint Capital offer By Dominic Walsh HOLMES PLACE, the troubled health and fitness club operator, is poised to announce a recommended bid worth between 40p and 50p a share from a management buyout team backed by Bridgepoint Capital and Permira, the venture capitalists. The deal, which is expected to be announced in the next two weeks, comes almost a year after Allan Fisher, the group’s chief executive, put the 75-club business up for sale after what turned out to be the first in a series of profit warnings. Bridgepoint, the group’s original backer before its 1997 flotation, initially offered 175p a share last year, only to be trumped by a 200p offer by the rival Cannons health club group. However, it returned to pole position in the sale process after another profit warning prompted Cannons to withdraw. The venture capitalist has been conducting due diligence for several months, during which deteriorating trading has sent the putative bid price ever lower. The figure is now expected to be close to the current share price of 46½p, valuing Holmes Place at £47 million, or £215 million including debt. Despite the low level of the offer, Holmes Place’s fall from grace — it has twice breached banking covenants — means that it depends on the banks for its survival and analysts believe that in the absence of a bid, the company could collapse. However, there are also suggestions that Cannons, backed by Royal Bank Private Equity, is still eyeing a possible move. Bridgepoint is understood to have brought Permira in as an equity investor to dilute its exposure to the health club sector. It already has a 55 per cent stake in Virgin Active, which has 11 clubs in the UK and 76 in South Africa, in partnership with Sir Richard Branson’s Virgin Group. It is understood that debt funding for the deal will largely be provided by Holmes Place’s existing bankers, including Lloyds TSB and Royal Bank of Scotland. Mr Fisher and Lee Ginsberg, the finance director, will stay on, but the board would be bolstered by the appointment of an operations expert from outside the group. The impending conclusion of bid talks comes hard on the heels of a management buyout of Fitness First, backed by Cinven, worth £204 million, or £403 million including debt. Cannons and Esporta have both quit the stock market in the past two years, leaving LA Fitness as the only significant listed operator. Fred Turok, LA’s chief executive, has vowed to keep it quoted and to rebuild investor confidence. No parties involved were available for comment.
insiderboy: bartbuild it was a compliment. off for a much needed pint and to check out the totty. IT's a shame HOL share price isn't getting as high as some of the lasses hemlines. Roll on summer. Nothing better than making loadsa dosh then spending it on top totty!!
gestalt: Oldish news from the Telegraph. Bridgepoint due dilegence due for completion late March. Offer expected to be up to half of 110.00 (share price was 40p at that date). Bid is VERY due. Hold on to your hats. Holmes Place fit for buyout plan despite warnings By Lachlan Johnston (Filed: 26/02/2003) The management of Holmes Place appears set to proceed with their buyout of the struggling fitness club operator, backed by Bridgepoint Capital, despite yet another profit warning from the group yesterday. Holmes Place shares almost halved after the warning that profits would be significantly lower than market forecasts, which analysts estimate to be as much as 25pc. The share closed on 40.5p, down 35.5p or 47pc yesterday, and 57pc on the year, as Holmes Place further spooked investors by revealing it had still not concluded negotiations with its bankers over debt covenants. In January, the company revealed it was attempting to renegotiate covenants, as its debt grew to an estimated £160m. At yesterday's share price, the company debt-to-equity gearing had blown out to over 300pc, and its interest cover to a perilously low two times. However, it is understood that the mooted buyout bid, led by chief executive Allan Fisher and financed by Bridgepoint, has not been derailed by yesterday's announcement. Instead, it is likely to lower the bid price, possibly by as much as half. It was mooted in January to be about 110p a share. The fall in the share price might also re-ignite the interest of rival health club operator Cannons, which bid 200p per share for Holmes Place early last year, but then withdrew its bid after due diligence. Cannons offered no comment yesterday. In its statement, Holmes Place said discussions with "an interested party", known to be the buyout group, were continuing under a exclusivity arrangement signed in January. The buyout group's due diligence is expected to run till late March. Yesterday's profit warning was Holmes Place's third in less than a year, and was blamed on disappointing trading in December last year. Holmes Place, which runs 75 upmarket gyms in the UK and Europe, said it had finished the year with 259,000 members, just below the target of 260,000. In particular, its clubs in the City of London had suffered a downturn. Analysts now estimate a 2002 full-year pre-tax profit of between £11 and £15m, though the company will delay its results until after the buyout proposal has been received.
blackie6x: One thing that people have over looked in all the doom and gloom is the directors (I use the term loosely) share holdings and the effect of the drop on these holding. Using figures in the public domain, 2 directors hold roughly 26% of the company split as 16M shares and 10.6M shares. At the initial bid price of £2, the bid valued these holdings at £51,000,000 plus the value of any options and other benefits. At the reduced bid of £1.75 the combined holding were valued at £46,500,000 At the recent price of £0.80 the holdings were valued at £21,300,000 and at todays bid/offer price they are worth a mere £6,800,000. The point of this in my opinion, is that the directors have a huge incentive to rework the share price, because any MBO at a give away price would still leave them out of pocket (especially when compared to the initial £2 bid from Cannons). Long term, if they obtained the company for peanuts I'm sure they could claw back their losses on paper, but hopefully we won't let them. This isn't the firt time that a company's directors have acted well outside the interests of its shareholders, but I cannot recall such a blatent case in these more accountable (as governed by the FSA) times.
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