Pizzaexpress Share Discussion Threads

[kasg] 12/3/2003 22:12

New Analyst Email to David Page and Paul Campbell here:

[kasg] 12/3/2003 10:12

12/03/2003 07:08:48 PizzaExpress ponders rival bid from Nando's - report

LONDON (AFX) - PizzaExpress PLC, the restaurant operator that two weeks
ago recommended a 367 pence-a-share bid from Luke Johnson, its former
chairman, is understood to have received an indicative bid from the owners
of the rival Nando's chain worth an estimated 380 pence a share, or 273
mln stg, The Times reported.

According to the paper, it is understood that Nigel Colne, the
PizzaExpress chairman, and the group's advisers Credit Suisse First
Boston, are amenable to the new bidders but are debating whether their
demand for a break fee of 2.7 mln stg in the event of a higher bid from a
third party is reasonable.

A source close to Johnson, who is being backed by ABN Amro Capital,
refused to rule out the possibility that he could raise his offer in the
event that PizzaExpress opted to switch its recommendation to the Nando's
camp, but added: "We'll have to wait and see if there is a higher offer."

The potential counterbid, mooted at a meeting with PizzaExpress on Monday,
is from a consortium led by Capricorn Ventures International, the South
African group that controls Nando's, and TDR Capital, a private equity
firm set up last year by Manjit Dale, formerly of DB Capital Partners.

[panachegrp] 06/3/2003 14:08

Doesn't look like the market is anticipating a counter bid then?

[bigboyo] 28/2/2003 14:56

daytona

some of these public school chappies look forward to the odd slap given to them by the odd slapper ( nudge nudge ) especially of a damp friday afternoon ! LOL

i think the only pain they feel is when their wallets are lightened

[bigboyo] 28/2/2003 14:03

come on daytona

these old boy networks cannot be beaten --- all the pigs have their big hooters at the trough

piz is a great brand --- and it has long term potential --- if we sell ( i have shares in piz ) at this ridiculous offer price then all the brand value is being given away for free --- the offer is easy to finance at a 10ish p/e where is the risk to the bidder ? NONE -- all upside and little risk or downside

all imho dyor etc

[daytona2] 28/2/2003 13:45

Analyst Investment Management to circulate proposal to shareholders -

If you've got a problem with the way the board are behaving, then here are the contact details for complaints :





Cheers

Daytona

[l2e] 28/2/2003 10:12

Good morning
bigboyo....it is anoying that these deals are made without the private investor in mind.....private investors are just used to create a tiny bit of liquidity and volitilty in some of the lse's stocks....which the big guys just pick off and push down when they feel like.....but notice how deserted the market is getting on lowere volumes...if it carries on more will depart....those isas are going to be a blow out this year.....the punter will be back but only if a major bull appears////whats the chance of that right now!

[bigboyo] 27/2/2003 08:51

Daytona

the problem is that the city old boys DO NOT want shareholders to make money --- only city bankers and advisors are allowed to do that hence the ridiculously low bid at 370p

independent directors usually have no clue -- they are advised by other bankers --- tell me this -- if they need to be advised by bankers is it because they are too thick to work out the merits or otherwise of a bid ?

and they get paid handsomely for this

you gotta laugh at this obscene collective robbing of small shareholders ---


surtely what we have witnessed over the last 15 years in the city is worse then the excesses of the bourgeiouse in imperial France --- we know what happened to them do we not LOL :-)

come the revolution !

[supermum] 27/2/2003 08:30

About time this farcical situation was resolved

[daytona2] 14/2/2003 20:57

Analyst Investment Management have entered the fray :

"Our proposal is summarised as follows:

1. Management slows the rate of expansion of the UK pizza restaurant chain in the short term, so maximising free cash flow;

2. It continues the re-investment programme for the oldest, under-performing restaurants, evaluating their before and after trading performances;

3. Contingent on 1 and 2, it gears up the balance sheet;

4. The resultant debt finances the combination of a tender offer and open market purchases for a significant proportion of the outstanding shares at prices that create value for the remaining owners;

5. The executive directors and senior operational managers are incentivised through significant stock option grants at progressively increasing price levels, and where exercise is contingent on those managers exceeding operating performance targets."

Copy of text here -

Cheers

Daytona

[boram] 08/2/2003 20:18

Pizza Express, Interims are out on Tuesday 11th.

[goatbreath] 17/12/2002 09:08

oh, that'll be a fiver within 6 months will it? Dip stick.

[thecleaner] 17/12/2002 07:59

What ya on about dead cat bounce. Several approaches have been confirmed you div.

[goatbreath] 17/12/2002 07:03

classic dead cat bounce. £2 in 6 months.

[ydderf] 17/12/2002 04:40

looks like that etra 1.5 inches has brought in the vultures!

[l2e] 17/12/2002 01:21

is anyone in this share above £8 out of interest?

[yarer] 17/12/2002 00:50

WHYYYYYYYYY!!!!!!!!????????????????????

[repobear] 16/12/2002 14:40

It looks to me that they have just put the FOR SALE sign on this one.

repobear

[kasg] 16/12/2002 13:13

AFX Story

Mon 16 Dec 2002 12:59:25


LONDON (AFX) - PizzaExpress PLC confirmed, in a statement noting recent share price movements, that it has received approaches which may or may not lead to an offer being made for the company.

The group said one of these approaches involves the executive directors and as a consequence the board has formed a committee of independent directors comprising the non-executive directors to consider this and other approaches.

The company said shareholders should take no action at this time and a further announcement will be made in due course.

[e-mail]

[salpara111] 12/12/2002 14:33

The big question now is.
If the 350p bid was re-tabled, would it be accepted this time around.
Given that the stock price has dropped right back off again, I suspect that the bidder might receive a slightly warmer reception.

[paul1888] 11/12/2002 16:56

Any thoughts as to where this share is going, now the takeover has been rejected ?? How dependant are they on a festive season boom ?