Restaurant Share Discussion Threads

[typo56] 29/11/2018 07:29

My understanding is record dates are there to ensure certificated holders receive provisional entitlement notifications in time for start of dealing in the nil paids. If they've sold before the ex-rights date, they have to forward the paperwork to the buyers (usually via their brokers).

It doesn't really concern those with nominee accounts.

[porsche1945] 29/11/2018 00:31

Sell the rights in the market, hope for a bit of a bump in price of shares and offload, got death written all over it, Restaurant Group was actually doing ok and the brands they had could have been worked on more, crazy amount of debt just as uk hurtles into brexit induced meltdown, is there any part of the ftse 350 that is actually investable these days, debt ridden, poorly run and most suffering from a bombed out currency, will stick to investing in the s and p.

[profitaker] 28/11/2018 16:50

TERP £1.464

[hampton58] 28/11/2018 15:35

AgreeMr Page and Mr Jackson build the businessand saw the early signs of gastro pubs

[tr200g] 28/11/2018 14:12

adobbing has stopped sharing irrelevant nonsense about individual pub openings and refurbs I see
get with the program

The rights issue was obviously going to go through as I wrote previously. In many years as a large institutional investor I have never seen a rights issue rejected. I suspect shareholders would have got the message that trading prospects in 'old' RTN is dire and urgent action is necessary. You will have noted the quicker than normal timeline of this transaction. It seems likely the vendors were very keen to get the cash in quickly.

You may also wish to note that Waga's impressive LFL performance is no doubt boosted by lower margin delivery orders. Deliveroo takes c.30%.

Delivery for Frankie's is also boosting volumes but I fear will hurt the franchise in the long-term term given the difficulties they have in delivering food that is hot in prompt fashion to people sitting in the restaurant let alone 3 miles away! Read tripadvisor...

[privileged] 28/11/2018 13:58

Record Date for entitlements under the Rights Issue

close of business on 26 November 2018


General Meeting

9.30 a.m. on 28 November 2018

Despatch of Provisional Allotment Letters (to Qualifying Non-CREST Shareholders only)

28 November 2018


Publication of notice in the London Gazette

29 November 2018


Admission of the New Ordinary Shares


8.00 a.m. on 29 November 2018


Dealings in New Ordinary Shares, nil paid, commence on the London Stock Exchange


8.00 a.m. on 29 November 2018


Existing Ordinary Shares marked "ex-rights" by the London Stock Exchange

8.00 a.m. on 29 November 2018


Nil Paid Rights credited to stock accounts in CREST (Qualifying CREST Shareholders only)

as soon as practicable after 8.00 a.m. on 29 November 2018

[privileged] 28/11/2018 13:55

thanks sharw. That makes more sense, but that's when then new shares start trading, i thought the 'Record date' was 26 November for those that will qualify for the rights though. Doesn't seem to tally?

[sharw] 28/11/2018 13:49

privileged - if you look at page 42 of the prospectus you will see:

Existing Ordinary Shares marked “ex-rightsR21; by the London Stock Exchange
8.00 a.m. on 29 November 2018

[privileged] 28/11/2018 13:36

i don't get it - it actually went ex-rights 26 November per the offer RNS, but the share price didn't change?
Should have fallen down to around 163p by my calculation - maybe a little higher if chance the deal wouldn't get voted through so that would explain the fall today but still seems to be trading 40p too high?
Any other views?

[bend1pa] 28/11/2018 12:57

So how are things going 'adobbing'? Still think I'm on the wrong board or planet (2235)? ;-) I see the share price has fallen nearly 30% since then and plenty more of that still to come.

[barvin] 28/11/2018 12:56

Anyone having Noodles for lunch?

[sharw] 28/11/2018 12:17

Well, Peel H were right in saying that the price prior to the vote contained a reject outcome premium. More management distraction from turning round the existing business having to go round the institutions begging them to vote for.

I find this very sad having bought in a long time ago and watched Alan Jackson (to May 16) and Andrew Page (to August 2014) build the group with the share price responding from 50p to over 700p. Glad I got out.

[profitaker] 28/11/2018 12:08

Management here have abandoned the interests of shareholders in order to build and run themselves an empire. Executive wealth will be just fine here.

[2wild] 28/11/2018 12:08

When does this go ex-rights?

[pugugly] 28/11/2018 11:51

Still a great potential short - Consumer casual dining is a contracting market (imo) Why go out when you can have most meals delivered without the ago of travel and/or the risk of a breath test !!

[essentialinvestor] 28/11/2018 11:49

They will rue the day imv.

[philanderer] 28/11/2018 11:37

Indeed they have. Taken it off the watchlist now.

[profitaker] 28/11/2018 10:51

Looking at the share price I guess shareholders have this morning approved the deal & rights issue ?

[tr200g] 20/11/2018 20:46

As a warning to any investors who think to buy the shares for the chance the deal gets voted down, please think again.
The deal would have been run by top shareholders pre announcement and the company wouldnt risk it if it looked shaky to get 50pc support

[philanderer] 20/11/2018 20:33

Investors warn on Restaurant Group takeover of Wagamama

Some of company’s biggest shareholders indicate they will vote against proposed deal

[adobbing] 20/11/2018 19:05

The Restaurant Group calls time on pub takeover talks to focus on Wagamama

The group is no longer planning to buy Peach Pub Company.

The Restaurant Group (TRG) has backed away from buying a gastropub chain as it focuses on pushing through the acquisition of Wagamama

[philanderer] 20/11/2018 18:01

" Wagamama plan ‘throws up too many red flags’ "


One of the Restaurant Group’s biggest institutional investors has come out against the proposed £559 million acquisition of the Wagamama chain.

James Thorne, UK equities fund manager at Columbia Threadneedle Investments, said that he would be using the firm’s 7.7 per cent stake in the Frankie & Benny’s and Chiquito operator to vote against the deal at next week’s shareholder meeting.

[sharw] 19/11/2018 16:59

J O Hambro may have been put forward to say that but the rest of the market is not convinced - closed at 223p today - an 8 year closing low. (I make that 155.3p XR).

[philanderer] 17/11/2018 00:48

'One of The Restaurant Group's leading shareholders lashes out at critics and defends firm's planned £559m purchase of Wagamama'

[porsche1945] 15/11/2018 12:00

i sold the whole lot yesterday afternoon, took a heavy loss but glad to be out, two large funds came out today to say the deal was suicide and to pull out, of course if they do this management is finished as will have no credibility left, its a mess, buying off private equity sharks slways a disaster....debenhsm, AA.....they should be outlawed. RG management is pretty average, brother Corbyn likely to be in soon thanks to Brexit madness...stuff like this probably going same way as house builders this morning!!