Revolution Bars Share Discussion Threads

[qs99] 17/10/2017 11:55

could see that a few days ago IMO, GLA holders, it will IMO drift again, but if they do continue delivering could prove to be a long-term value recovery punt DYOR..

[barnetpeter] 17/10/2017 11:53

Yes that's it. Where next? Shows the danger of holding on for a few pence extra. Don't see any bull case for this stock now.

[montyville2] 17/10/2017 11:47

So no sale...and the share price falls :(

[amencorner] 16/10/2017 18:08

Could well be a valid scenario jeffian; we will just have to wait and see. Initially, I was holding out for an improved offer from Stonegate or a third bidder once Deltic came along but you simply never know how these things will pan out; I guess a holder is always hoping for a "Lavendon" situation.
Anyway, good luck to all those who continue to hold.

[jeffian] 16/10/2017 17:33

Alternatively, Stonegate have played a blinder! As you say, Deltic's offer was never really viable and those funds which withdrew their support may well have shot themselves in the foot if both bids fail and the price reverts to where it was. Why should Stonegate pay more when there is no real competition? If it was that cheap, someone other than Deltic would have appeared on the scene. Stonegate may be precluded from coming back with a better offer, but surely there is no reason that the t/o could not be revived at the same price if they can get those institutions back on board?

[amencorner] 16/10/2017 17:18

Personally, I feel the saga with Deltic and Stonegate has not been handled that well by either of the interested parties; just could never see Deltic as a serious player in terms of making a bid as they don't have the funding.
Stonegate's "final offer" as I read the TO Panel rules, now precludes them from making an improved offer unless another bidder emerges offering greater than the Stonegate 203p.
I booked profits on Friday and whilst not catching the top, was it 211p, am very happy as I think the price will possibly drift down in the short term. Long term, that might be a different matter but for now, I am simply reducing risk and sitting on the sidelines.

[tonysss13] 16/10/2017 16:10

I think that's hopeful QSS if i'm honest

[qs99] 16/10/2017 15:49

think the trading may just be holding it up, but otherwise, wont' the speculative money now just walk and put further pressure on the SP?

[tonysss13] 16/10/2017 13:44

i'm not sure. they haven't given themselves that provision in the RNS, only if a competing offer is recommended

Stonegate declares its Cash Offer of 203p final (the "Final Cash Offer") and will not be increased, except that Stonegate reserves the right to set this statement aside in the event of a firm offer announcement to acquire Revolution under Rule 2.7 of the Code by another party which includes the payment of cash to Revolution shareholders. Further, the Board of Stonegate believes that any further delay will prolong the uncertainty for employees of Revolution and is likely to have a detrimental impact on the business.


it looks to me like they have run out of options but something is holding it up

[tonysss13] 16/10/2017 13:24

thanks JakNife

difficult to see what options Stonegate have left to consider

[tonysss13] 16/10/2017 13:10

was stonegate's offer final?


edit yes looks like it was

[mmc71] 16/10/2017 12:47

Don't think it would drop that anywhere near that low. I reckon either Stonegate come back with an offer around 225p or the price drops to 150 they don't. So about 35-40p in either direction from the current price.

Personally i think Stonegate would be stupid not to return with a modestly increased offer of 225 (which I reckon might get them over the line) if the cost savings of the enlarged group are as great as they say they are. Now, do i take the gamble and buy some now or not....

[barnetpeter] 16/10/2017 11:54

Pleased I am out but watching with interest. So if the bid is voted down as the mkt seems to think is now likely where next? The price was below 100p at one stage in July so a long way down. Might it tank back to 120 on a rejection?

[fizzypop] 16/10/2017 11:46

Offer update but no content see RNS above.

[exbroker] 14/10/2017 18:28

If the offer is final it can only be raised if there is another bidder, thats Take Over Panel rules. If the scheme is voted down and Artemis may only have withdrawn the letter of intent to help Deltic then Stonegate can come back with an offer which requires only 50% to accept. Given how much the arbs now hold that won’t take very long.....

[spot1034] 13/10/2017 20:40

They always say the offer is final, otherwise everyone knows it isn't and will hold out for more won't they! In this instance, there is quite wide agreement that the offer isn't particularly generous so there is plenty of scope to push them a bit higher. If they do walk away the shares will fall but there is every reason to believe that they will recover, either on their own or when someone else makes a move on them.

[crumppot] 13/10/2017 17:31

oh dear someone has put his foot in it!!

"13 October 2017 Stonegate Pub Company Limited ("Stonegate"): Retraction Statement

The Chairman of Stonegate, Ian Payne, was today quoted on Twitter by Dominic Walsh of The Times as saying "The alternative is not palatable. If it doesn't go through they'll have a broken company" when referring to the Scheme vote for Stonegate's offer for Revolution Bars Group plc.

Mr. Payne requests that this statement is disregarded as there is no basis for it."

Mr P must be concerned that the offer is not going to be accepted.........Perhaps they should offer more?

[wokingblade] 13/10/2017 12:00

Except if the Stonegate offer is voted down and there is no counter-offer, so the shares just sink towards previous value. Just saying, its not a one way bet.

Fingers crossed for you, would be happy with 203, but personally think there's more in the tank still.

WB (Long RBG)

[spot1034] 13/10/2017 11:14

I had a bit of cash sitting on my account so just topped up my holding at sub 198p - a price I didn't expect to see with 203p pretty much guaranteed to be paid out free of further charges in less than four weeks and the chance of the price being squeezed a bit higher if shareholders show their teeth. If Stonegate do walk away it's still a good business which could well see further predatory interest before too long.

[spot1034] 12/10/2017 17:17

At the time the board recommended the offer the shares were in the doldrums after a profit warning and there was some comment about the nature of this warning and whether it might have had less to do with outside forces than the quality of the management, and they were perhaps guilty of talking the share price down far more than the circumstances really justified. So they were probably happy to recommend the offer from Stonegate which got them out of a difficult situation. Since then the general concensus has been that maybe the predictions of doom and gloom might have been overdone and that this was, in fact, quite an opportunistic move by Stonegate who could see the real potential of the company. I would have been very surprised in the event of a cash offer by Deltic if Stonegate hadn't been ready to come back, so I'd be even more surprised if they now walked away if they had to cough up a smaller additional sum to get the approval of the major shareholders. However, even if that did happen it's still a good business which could easily recover to take the shares higher in the future and indeed attract future interest from predators.