Share Name Share Symbol Market Type Share ISIN Share Description
Patisserie LSE:CAKE London Ordinary Share GB00BM4NV504 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 429.50p 0 01:00:00
Bid Price Offer Price High Price Low Price Open Price
0.00p 0.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food Producers 114.20 20.15 16.36 26.3 581.2

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Date Time Title Posts
13/6/201920:53Patisserie Holdings Plc Ord 1p3,156
15/2/201912:33Luke Johnsons fortune reduced to a toilet cubicle in Abergavenny-
21/5/201821:15London packed with tourists eating CAKE25
19/5/201709:01Patisserie Holdings plc1
18/5/201720:30Patisserie Holdings plc-

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Patisserie (CAKE) Top Chat Posts

bbmsionlypostafter: 10.4.2019 will be 6 months of TEMPORARY SUSPENSION OF TRADING ON AIM for CAKE. Where's Lukie? Https://
masurenguy: sandy133, you make some reasonably points but you have overlooked one fact - LJ was the Executive Chairman so he was the most senior executive officer of the company. An Executive Chairman rules the roost unlike a non- Executive Chairman who is normally a well connected individual who can network for the company, preside over board meetings and generally provide some strategic advice. May's title of CEO was a misnomer when there is an executive chairman since the latter calls the shots. As such, the buck stops with LJ since all of the problems occurred right under his nose and he should have been able to spot that something was amiss with the margins, creditors and cash balances particularly since HMRC had written to the company in 2016 questing these issues. If I had been a shareholder here I would be after a return of all of the profits that board directors made from cashing in their share options, which were based upon an artificial share price propped up by fraudulent accounts. Irrespective of who may subsequently be indicted for committing the fraud none of the directors should profit from their share options when investors have lost everything.
sikhthetech: 9th Oct - rns Bod become aware of significant fraud.. 10th Oct - rns - BoD becomes aware 'today' of Wind up order 14th Sept.. 11th Oct- Need for immediate injection of capital... 11th Oct - Stonebeach - Satisfaction Of Charge 12 Oct - Proposed Placing.. 12 Oct - result of placing...
rcturner2: Back in October. When the share price flatlines.
this_time_its_different: Having profits less than £100 million means the business is a high risk-high reward play and is 4-6 quarters away from posting a loss and a collapse in share price. Pat Val holders will get something back since the serious fraud office will take grant thornton and the directors to court, but I doubt it will much more than 20p on the £.
barnetpeter: Went to portsmouth harbour branch this last week.....always quite busy. Nice staff, good service. My guess is that cake will be delisted after 6 months. I dont see how everything will be sorted within 6 months and I dont see any value in doing so. They cant raise more cash, the share price will collapse, they will save on the listing costs etc. It will take up to two years for the investigations to be complete and then there are possible criminal prosecutions etc. Just leaves holders in a private company......the company may then be sold off as a going concern or it might look to list again in a couple of years when all is clearer.
hvs: City advisory groups warned about Johnson months ago. Reports sent to investors advised he was not a suitable executive chairman of Patisserie Holdings because his major shareholding raised questions about his 'independence'. Yet the share price kept going up and up. They expressed concerns that Johnson had fingers in too many CAKES. Glass Lewis and Pirc told investors to vote against Johnson at the annual general meeting of Patisserie Holdings in January. Yet NOTHING happened and £ 400 mill in shareolder funds wiped out. Thank you LUKE JOHNSON. Nice CAKE though.
tabhair: So what do we value this thing at? Management have reported a true figure of revenue of £120m and EBITDA of £12m. Looks like revenue growth stalled in the last 12 months, so no growth premium can be attached here. I would say that the likes of Greggs would be a better comparison to CAKE than Starbucks. If we were to apply the same market cap to EBITDA multiple (8.6x) to CAKE, then you get to a valuation of £103m for CAKE, which translates to a share price of about 77p. Given the uncertainty here, I don't think you'd want to be paying anything near 77p.
cyberbub: I guess LJ feels that only by putting up £20M (which is only a loan, to be fair, so not that much kudos to him!) will he be able to save 'some' value from his holding here. 50p is a shocking discount to the 420p share price, but instis want their pound of flesh from the desperate, as always. On the other hand, instis wouldn't be putting up £15M if they thought the company was screwed. Ditto for LJ - he wouldn't be loaning millions to the company if he thought it was 'throwing good money after bad'. So I think we can assume that the company will 'probably' not be going bust. But what level of true profitability exists, and therefore the share price it will resume trading at, is unknown. If I had to guess, with 135M shares in issue and the RNS yesterday, I would say it might resume trading at about 75p, *if* there is confidence in the revised accounts. Shocking value destruction for shareholders who believed the company. I'm sorry for them, and also glad that I didn't invest here (I had considered it a couple of years back). Good luck all. NAI
mrtenpercent: EBITDA £12m x 6 = £72m Enterprise Value Less debt -£19.8m Equity £52.2m divided by 135,322,452 shares in issue Share price £0.3857 Say 38p Can't see where the 50p valuation for the placing comes from. But presumably a case can be made for that. However much you play with these figures, 429.5p looks a dim and distant memory, not a viable hope for the future. Even if new store openings take the EBITDA to £20m and the EV multiple rises to 8 the result is a share price of only 104p It will be a very long time before anyone values this business at a premium.
Patisserie share price data is direct from the London Stock Exchange
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