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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Reach4entertainment Enterprises Plc | LSE:R4E | London | Ordinary Share | GB00B1HLCW86 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.225 | 0.20 | 0.25 | - | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Date | Subject | Author | Discuss |
---|---|---|---|
13/5/2015 08:00 | I think at .75 you could have a multi-bagger - BUT I have too many to buy more. And I don't want to be anymore red-faced ;-) | ironstorm | |
13/5/2015 07:27 | Plenty buys this morning!! | smart_investor | |
13/5/2015 07:24 | Could work out very well for you Davy | smart_investor | |
12/5/2015 17:13 | very brave (or very stupid?) I bought 1m at 0.75p when I thought the drop was overdone | davydoo | |
12/5/2015 12:16 | I think you are right for the very brave they could be very cheap. | ironstorm | |
12/5/2015 10:53 | From memory, the covenant measures are calendar qtrs, so 31 Dec, 31 Mar. I'd agree with you that the 31 Dec covenants were OK, but subsequently the Auditors came along with their impairment issue. When applied, this would then cause a retrospective covenant breach for 31 Dec. That coupled with the downturn in trading causing a problem for 31 Mar measure are probably the issues. All that aside, I do think the outcome hinges on trading. So the bank have a commercial decision to take. | mortimer7 | |
12/5/2015 10:33 | Thx Mortimer7 that clarifies things. So I guess the issue really is whether trading now is really poor or not and in the absence of any comment can we assume that? The trading last year was in line with expectations so therefore must be the best they have had. The earliest they could have been in default from my reading of last years communique was therefore after Q1. They have not stated they are yet (so it will depend on the small print that was not in the accounts). It could be later depending on performance. In 2013 they generated over £2m in cash and I would expect that to be higher in 2014. | ironstorm | |
12/5/2015 09:25 | I think Section 46 is the legislation relevant to when the statutory accounts are issued without Auditors qualification. In this case, I'd guess the reduction of net asset value by the proposed impairment. | mortimer7 | |
12/5/2015 09:08 | Assuming the downturn in trading has resulted in a breach of the banking covenants, this would obviously trigger discussions with the bank. Unless trading & the outlook is really poor, it is unlikely the bank would want to trigger a default so soon after agreeing new terms. The best scenario would be the bank to issue a covenant waiver (usually for a hefty fee), reset the covenant measures and crack on. If this is the case, the asset impairment would be part of the process of resetting the covenants and also gets this piece of bad news out of the way now. No point going back to the bank in a few months time with another issue. I'd guess matters are currently with the bank credit committee to make a decision. | mortimer7 | |
12/5/2015 07:57 | anyone knows what the reference to section 46 means? I have googled - it seems to be about executing deeds . . . . Its all rather confusing things were going so well last year with a slowdown expected - but that should not have been terminal. No mention of current trading either. I smell fish. From a quick review at the half year results £13m out of £32m in assets is goodwill. A serious write-off in this number would have a massive effect as Net Shareholder Equity seems to be less than £200k. | ironstorm | |
12/5/2015 06:40 | no wonder Webb has been offloading like his life depends on it..... | deanroberthunt | |
12/5/2015 06:35 | Not one of Winnifraud's finest ramps sorry tips. | argy2 | |
11/5/2015 20:39 | Thats what I thought too.This new rns is way different.Thought banking side was all ok for longer term.no wonder the share price has slowly dropped.Cant go much lower now. Can it? | anony mous | |
11/5/2015 20:01 | Latest RNS highlights the total incompetetance of the board. Last year it was : 8 April 2014 reach4entertainment enterprises plc ('r4e' or 'the Group') SUCCESSFUL BANK REFINANCING The Board of r4e, the transatlantic media and entertainment company, today announce the completion of a successful bank refinancing. The new agreement with Allied Irish Bank Group (UK) plc. ('AIB'), for which covenants have been agreed, establishes a six year term from 7 April and a new interest rate of 3 per cent over LIBOR, for r4e's GBP14.8 million revolving credit facility. Numerous capital repayments will be made over the term of the facility at amounts and dates specified in the facility agreement. The first repayment of GBP0.2 million is due in April 2015. Now it appears that we can't make the repayments. Looks like the manangement have been misleading shareholders. | salonie | |
11/5/2015 07:22 | Another week has begun and no news! | smart_investor | |
09/5/2015 09:58 | Interesting! I will be looking out for similar buys next week. | smart_investor | |
08/5/2015 13:11 | That wasn't your 600,000 yesterday was it? | smart_investor | |
08/5/2015 13:10 | ok boy...had a small dabble, but it's just a punt.. if I lose it all, I'll blame you and I won't be happy :) ....ever seen Cape Fear with Robert DeNiro ? | deanroberthunt | |
08/5/2015 13:03 | well with the mcap under £1m it's basically priced for administration, so anything even remotely positive could see a good recovery....but you need to be prepared to lose the lot. | deanroberthunt | |
08/5/2015 12:53 | Or maybe, just maybe you could catch it at the bottom, avoid wipe out and do rather well | smart_investor |
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