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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Rbg Holdings Plc | RBGP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 3.10 | 07:31:25 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 3.10 | 3.10 | 3.10 | 3.10 | 3.10 |
| Industry Sector |
|---|
| SUPPORT SERVICES |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 26/04/2023 | Interim | GBP | 0.005 | 04/05/2023 | 05/05/2023 | 16/06/2023 |
| 13/09/2022 | Interim | GBP | 0.02 | 22/09/2022 | 23/09/2022 | 30/11/2022 |
| 27/01/2022 | Interim | GBP | 0.03 | 03/02/2022 | 04/02/2022 | 25/02/2022 |
| 16/07/2021 | Interim | GBP | 0.02 | 29/07/2021 | 30/07/2021 | 27/08/2021 |
| 28/01/2021 | Interim | GBP | 0.03 | 04/02/2021 | 05/02/2021 | 26/02/2021 |
| 24/01/2020 | Interim | GBP | 0.01 | 28/05/2020 | 29/05/2020 | 19/06/2020 |
| Top Posts |
|---|
Posted at 04/10/2024 15:50 by riverman77 Burford is litigation finance (funding legal cases) so very different to a legal services provider such as RBGP. That said, BUR has stagnated for years now and I also have concerns about the level of remuneration eating into profits. |
Posted at 04/10/2024 14:45 by riverman77 Exactly - all the money will inevitably go to the lawyers NOT the shareholders. That's why I now completely avoid the legal sector. RBGP itself looks on the brink of insolvency given its huge debt and continued losses. |
Posted at 11/4/2024 09:57 by tomtrudgian I guess you are an accountant goldbutler, and so will already know the answer to your question. For the benefit of others, it is illegal for a company to pay a dividend unless out of ‘distributable reserves’. This is to avoid tax loss to HMRC.There would appear to be no legal possibility of a dividend in respect of FY23. You may also be correct in suggesting there will be no dividends paid for the four years 2023 to 2027, whether there are then sufficient legally distributable profits or not. Why? Firstly it’s HSBC’s decision alone. Secondly paying dividends costs fees to the paying agent. It is both administratively expensive, and not tax deductible (unlike the interest payable). The interest RBG are currently paying is 8.35% and, apart from Mr Rosenblatt, some may feel that paying down debt tax free is better than paying an effective increased tax cost of some 10%. Tom Trudgian |
Posted at 08/4/2024 10:03 by goldbutler Oatey has raised the great question - when will we get a dividend again.TT , you have raised the issue of distributable profits, Figures for y/e 23 will not be good and Loss on sale of convex will not help for y/e 24. Any dividend going forward can only be paid until any negative balance is cleared. Do you want to estimate a balance figure for 23 and even 24 for the benefit of Oatey and others. |
Posted at 07/4/2024 16:54 by goldbutler Oatey I cannot see any dividend for at least 4 years.They should have stopped paying dividends much sooner. All cash received needs to be thrown at the borrowings. Huge Debt is just too great. It must be reduced as quick as possible. Leasing liabilities are continuing worry. Previous management totally responsible for this. The company needs to trade its way out of it. It can do it. |
Posted at 02/4/2024 19:56 by goldbutler Congratulations , and well done to Mr Rosenblatt and new CEO et al.RBGP removes convex outfit and actually receives something for it and not a moment too soon and at a huge paper loss. I refer to my posts 843-844 -858-860. Forensic505 and not for the first time , on the other board sums this up correctly. |
Posted at 24/7/2023 19:15 by clive7878 Problem is with RBGP - there are a number of articles which look a bit woolly now, so it is difficult to draw a conclusion what the future really does hold, some think the knife will keep falling, while others think the share price has bottomed out and it is a recovery stock.From the I.C. believes it is a buy, - rightly or wrongly - and states - On this basis, and factoring in a higher tax rate, expect EPS of 8p and a dividend per share of 4.5p, implying the shares are rated on a prospective price/earnings (PE) ratio of six and offer a 9 per cent forward dividend yield. Importantly, the new board is committed to reducing RBG’s net debt of £19.2mn and should make significant inroads this year with the benefit of projected free cash flow of £4.8mn and cash from the sale of LionFish – the unit has £5.3mn of litigation investments and £1.7mn of liabilities excluding £4.7mn owed to the group. Analysts expect net debt to be slashed to £16.6mn by the year-end |
Posted at 17/7/2023 07:28 by se81 New (paid for by company) research from Progressive equity this morningFind it a little strange given they maintain estimates and talk about an 18% dividend yield- hard to believe these can be maintained but you presume its management putting these in the mkt via Progressive Anyhow still no bid in the mkt for the shares... hxxps://progressive- Last week, RBG announced the successful disposal of LionFish to Blackmead Infrastructure for a total consideration up to £3.06m. In our view, this materially simplifies the business and reduces its exposure to third-party litigation funding, which has detractedfrom the otherwise morestable underlying revenue and earnings profile of the group. The LionFish disposal strengthens the balance sheet,enabling the new board to focus on driving the high-margin, cash-generative legal and professional services group. We maintainour estimates for FY23and note that RBG continues to trade at a discount to its peer group,despite sector-leading margins and a forecast 18% dividend yield. With the LionFish disposal successfully completed,alongside positive sector newsflow, we expect the shares to re-rate. ▪LionFish sale completed for a totalconsideration of up to £3.06m, comprising an immediate payment of £1.06mthat will be used to repay an inter-company loan. The additional £2m payment is subject to the successful outcome ofcases acquired, with the level of payment dependent on the return generated by each case. However, the sale fully discharges RBG from ongoingfunding commitments at LionFish, currently estimated to be £2.6m. RBG will report a non-cashdisposalloss of £0.98m. ▪Positive sector read-across from DWF and Knights. DWF is in talks regarding a buyout reportedly valued at around £342m with privateequity firmInflexion. Shares across the sector have reacted positively to the renewed interest in deals in the legal services space. Knights also announced positive results for FY23lastweek,with PBT up nearly 20%. ▪Board restructured.In January, Jon Divers, previously Group COO, was appointed to the board as CEO. Tania MacLeod (Senior Partner, Rosenblatt) and Nick Davis (Senior Partner, Memery Crystal) were also appointed as Executive Directors, creatinga board with a good cultural fit and range of commercial experience. Also, Kevin McNair was recently appointed as interim CFO, while the incumbent is on sabbatical. ▪Simplified business and divestment should drive a re-rating.Proceeds fromtheLionFish sale will be usedfor working capital and to reduce net debt. Recent FY22 results highlightedthe strength of the core business, and we believe that consistent delivery of sector-leading margins and growth warrant a rating for RBG closer to its peers. In our view, these factors,plus RBG’s simplified model, board restructuring, AIM IHT relief certainty post LionFish sale and forecast 18% dividend yield, are not reflected in the current FY23E PER of just 3.3x |
Posted at 11/5/2023 00:35 by aeonflux Good write up in Investors Chronicle...RBG's recovery potential* 2022 adjusted pre-tax profit rises two-thirds to £10.9mn* Adjusted earnings per share (EPS) from continuing operations of 9.2p* Underlying free cash flow of £4mn* Annual dividend of 2.5p and policy to pay out 60 per cent of net profitIn 2022, RBG's legal services revenue increased by 38 per cent to £44.9mn following the integration of Rosenblatt and 2021 acquisition Memery Crystal. The addition of Memery Crystal's non-contentious legal services (corporate and real estate) not only provides a natural hedge to the changing economic environment, but has increased the group's scale and enhanced its ability to win non-contentious mandates as well as improving the new business pipeline.The diversification means that revenue is more evenly split across the three main practice areas: dispute resolution (40 per cent), corporate (37 per cent) and property (23 per cent). Dispute resolution, Rosenblatt's speciality, continues to perform well and the firm has taken on contingent work of £2.5mn. Average revenue per fee earner increased 25 per cent to £436,000, reflecting better resource management in the integrated practice. Importantly, the practice is performing to the board's expectations.Convex Capital, the Manchester-based specialist sell-side corporate finance advisory business, is focused on helping companies, particularly owner-managed and entrepreneurial businesses, realise their value through sales to large corporates or private equity companies. The firm identifies and proactively targets businesses that represent attractive acquisition opportunities.Althou |
Posted at 27/4/2023 06:39 by paleje Thanks Scuba, Simon Thompson's report makes good reading I've pasted his conclusion.......Although challenging market conditions in the second half of last year led to deferral of deal completions and meant that Convex only completed six deals and delivered revenue of £5.3mn in 2022, down from 14 deals and £9.4mn revenue in 2021, the business has a strong pipeline of 24 deals, with a number in advanced stages of completion. This augurs well for the future and adds weight to house broker Singer Capital Markets’ forecast that RBG can deliver current-year pre-tax profit of £10.2mn on slightly higher revenue of £52mn. On this basis, and factoring in a higher tax rate, expect EPS of 8p and a dividend per share of 4.5p, implying the shares are rated on a prospective price/earnings (PE) ratio of six and offer a 9 per cent forward dividend yield. Importantly, the new board is committed to reducing RBG’s net debt of £19.2mn and should make significant inroads this year with the benefit of projected free cash flow of £4.8mn and cash from the sale of LionFish – the unit has £5.3mn of litigation investments and £1.7mn of liabilities excluding £4.7mn owed to the group. Analysts expect net debt to be slashed to £16.6mn by the year-end Although it’s early days, the attractions of a 52 per cent discount to the peer group average PE ratio of 13 and a sector-leading dividend yield make RBG’ shares a recovery buy. |
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