Rbg Share Discussion Threads

[dayraider1] 10/2/2023 17:57

Selling her overhang would generate some much needed liquidity. If the numbers look good in April, then I see growth.

[quepassa] 10/2/2023 10:50

Good post.

Yes, the overhang is certainly not to be underestimated.

Just to add, that of course this major block of shares carries with it a hefty weight of 12.45% voting power which is influential on Company matters requiring a vote.

In the circumstances, one can but wonder to oneself how supportive or otherwise this significant voting block may or may not be.

all imo. dyor.
qp

[thomshrike] 10/2/2023 09:58

The stock looks cheap today, but unfortunately not so cheap as to give confidence there should be a quick rebound.

On the other hand, we should be concerned about negative technicals: the overhang of NF's stake; the fact that NF will not be happy to sell at a discounted share price; the potential lack of incentive for the current board to elevate the dividend before NF exits; the potential stop-loss disposals of fund managers whose investment thesis relied a lot on NF's leadership. We could be facing a long stalemate here.

[dayraider1] 09/2/2023 17:12

Nobody knows anything as always, but at 50p this now looks very cheap. Unless the Y/E results show revenue has collapsed - and there seems to be no sign of that - surely has to be a v strong buy? Certainly can't think they'll be missing the CEO on her performance.

[elsa7878] 09/2/2023 15:41

Quite an achievement. Float at £76 million valuation, spend £52 million on 2 acquisitions, giving £128 million in total. Destroyed about 60% of the companies value. yes- what will she do with her stake. Would she sell at this level. Will Ian buy her out?

[quepassa] 09/2/2023 15:32

The recently departed former CEO had beneficial interests in shares amounting to 12.45% of the issued share capital of the Company, according to an RNS dd 12/12/22.

That is a major position.

Given the circumstances of the departure as announced in the 31/1/23 RNS , one can but wonder to oneself what may or may not happen with the shareholding.


ALL IMO. DYOR.
QP

[scubadiverr] 09/2/2023 14:22

And don't forget RBL IPO'd on its own at twice today's share price

Anyway, last post from me for a while as looking at thread I appear far too often for my liking (and others it seems!) and would rather see the opinion of others

[scubadiverr] 09/2/2023 14:01

I look at it as at 50p you get MC and Convex at less than half the price paid. I can't imagine Mike Driver or the previous owners of MC are/were particularly pleased with the performance of the former CEO! I think it's a bargain, but are of course talking my own book. I'm now 10% down and have watched it fall from 168p. Quite annoying to say the least

[elsa7878] 09/2/2023 13:12

What mess but it's now in the interesting investment bracket. £11-12m edita and pre-tax of £6.9 million. Refocus on what they do best plus the potential of Convex and without the cash drain of Lionfish...Pe now under 8.. Is it worth a nibble? I don't suppose anyone here has spoken to the company?

[quepassa] 09/2/2023 11:02

anyone read/seen the recent online article and the comments on website rollonfriday?

dd 3/2/23.

all imo. dyor.
qp

[quepassa] 03/2/2023 07:02

scuba,

I could answer in great detail but initially just note that the Initial Concert party as of May 2018 was split around summer/autumn last year into two Sub-Concert Parties.

You will see full details of who is in the two new sub-concert parties in the RNS dd 13/9/22.

Coincidentally, the interests of the then CEO were at that time separated out.

Think about that.....


ALL IMO. DYOR.
QP

[scubadiverr] 02/2/2023 13:33

I can't see NF selling for less than what they are worth now. For memory, forgetting the Trust point, her shares are in lockup so can't sell. She owns 12% of what is/was an initial concert party of c. 40%. The institutions are all down, I can't see them selling either down here. It's about a 10% yield from here. Why would they give up that and the prospect of substantial capital growth?

[scubadiverr] 02/2/2023 09:22

Sell? Far from it. In fact, I added but only a small amount. The business is more attractive than at IPO with MC now augmenting RBL and with Convex to boot. We may not yet know about the future growth strategy following the removal of the expensive CEO, but the acquisition strategy had long been impossible to pursue due to the collapse in the share price The business is worth more than the current share price even on a value basis. Will the majority holders want growth? I'm pretty sure they will, so still view this as far more than a utility share, but await a strategy update from the company before adding a more significant amount. The bestst time to buy is when a company is disliked. This company is meeting forecasts and I can only see the demand for law firms (and especially those that can work on a contingent basis) increase during harder economic times. To sell now would be madness, imo. DYOR

[quepassa] 02/2/2023 07:03

you're right! It spiked briefly down to 50p in spring 2020.
have updated my post.

Get out whilst you are still ahead??

[scubadiverr] 01/2/2023 19:32

50 is the all time low. I know as I bought! Must be a c. 10% yield now, if dividends continue at historic levels.

[quepassa] 01/2/2023 18:11

approaching the all time low of 50p in 2020.

an unhappy ship.

graph looks like this share is still headed down.


all imo. dyor.
qp

[donogh] 31/1/2023 19:51

Management (aside from former CEO) are heavily invested in the business; interests are aligned with shareholders to maintain cash generation and focus on using their intellectual capital to deliver one of gains we've been patiently waiting for. I see current travails as an opportunity to average down and lock in a healthy dividend yield.

[weaverbeever] 31/1/2023 15:36

So this share price drop. Turnover 49mill. Put 6.9 milIs this drop a good buying opportunity? Or too risky?

[scubadiverr] 31/1/2023 13:58

I thought she provided capital and received the 12% at IPO instead of repayment. I may well be wrong about this, but what I gathered from the various Mello presentations. I may well be wrong

[elsa7878] 31/1/2023 13:44

Did she buy her 12% shareholding? Not as I understand it. She was gifted it in lieu of her expertise...