Revolution Bars Share Discussion Threads

[dennisbergkamp] 26/5/2021 15:27

Being honest, I've jumped the gun here and doubled up, whereas, if there's a >4% drop tomorrow (when you're not included in the rights) then it's worthwhile waiting.. ie >1p drop. I should have waited till tomorrow... ah well... amazing what happens when u actually think it through!

D

[guppy57] 26/5/2021 15:25

Sorry I did read the rns but cannot see this anywhere. Maybe I'm being thick.Thanks

[jimbomorry] 26/5/2021 15:07

I'm a long term holder in at 34p looking for a post covid bounce. Wonder if there's a risk of this being shorted down to 20p by 15th June.

[exbroker] 26/5/2021 14:02

dennis

Its all in the RNS but most PI`s don’t read more than the first 6 lines!

I agree with 74tom that these should be higher, this is not a rescue but has moved some of the enterprise value to the equity from the banks and therefore reduced risk. There is also cash to accelerate the refurbishment programme and to fund new openings when the right properties in the right place in the right cities become available, which should start to happen later in the year.

Here is a link to the presentation given to the Institutional Investors as part of the fund raising.

[dennisbergkamp] 26/5/2021 13:52

Thanks ExB - If anyone would know, it would be you ;-)

D

[exbroker] 26/5/2021 13:35

In answer to post 2204 and 2205

1 Open Offer Shares for every 25 Existing Ordinary Shares

Ex entitlement tonight.

The reason for this low level is not the company or the brokers but this.

The Open Offer has been limited to GBP1.0 million (approximately) in order to avoid the Company having to incur the material cost of producing a prospectus and to avoid the significant delay in having to obtain the FCA's approval of such a prospectus (prior to its publication). Whilst an exemption from having to publish a prospectus is available under section 86(1)(e) FSMA for offers of up to EUR8 million, this exemption requires there to be taken into account any offer by the Company of the same class of securities which was open at any time within the 12 month period ending with the date on which the Open Offer is made - and the Company made an Open Offer in 2020 of GBP6 million (which was open until 25 June 2020).

There is an excess application facility so you can apply for more than your basic entitlement, how many you get is another matter!

[dennisbergkamp] 26/5/2021 12:42

Do we know how many we get as a percentage as PI's? I didn't see that as yet.

D

[jimbomorry] 26/5/2021 09:51

Does the placement complete on 14th June or is it the case we await a detailed placement timetable?

[unabkxb] 26/5/2021 09:25

Agree. Would buy more if I had the cash .

[dagsteeth] 26/5/2021 09:05

Interesting how both Nightcap and Revs have mugged off punters by ramping the price to be able to get their get out jail free distress equity raise card at fair value when they have the same naiive retail shareholder, Mark Ward, as the biggest shareholder in both companies. How Edelman, who screws up a 200p bid, presided over dodgy accounting, and has the temerity to keep coming back to the trough despite each time saying “now we are properly right sized..etc” etc can still sit there lauding it up as Chairman is beyond me. The man has no shame.

Still, putting the grubbiness to one side, this really is the time to take the plunge in them

[74tom] 26/5/2021 09:01

Why would you sell at 23p?

At 4.29pm last night there were 125m shares in issue with a share price of 0.34p, the company had an equity value of £42.5m with debt of £28.5m. An overall value of £71m

This morning at 23p, with 230m shares in issue, the company has an equity value of £52.9m and an additional £21m cash to offset against debt (£10m) and some to grow the business. An overall value of £52.9 + £28.5 - £21 = £60m

At around 27p the valuation would be the same as it was pre close, however they now have all that additional cash which reduces risk substantially. I agree with the 45p price target, this would put in it line with the likes of VARE which is valued at 87m.

[diku] 26/5/2021 08:43

Only 137.5K?...


The Board intends to invest, in aggregate, GBP137,500 in the Fundraising.

[diku] 26/5/2021 08:41

It might just visit to kiss the 20p area over the coming days/weeks....

[jimbomorry] 26/5/2021 08:35

Am out for now. Hope I'm wrong for all remaining holders but there's a risk this will stay at 20p now until completion of the placement from 14th June.

PS: Have I got the 14th June date right?

Thanks.

GLAH.

[jonny_wright] 26/5/2021 08:30

Imo the bounce giving people another chance to escape

[b1nky] 26/5/2021 08:17

I agree. Bouncing now. Buyers coming in.

[dagsteeth] 26/5/2021 08:16

Now is actually the time to invest big. Just glad I haven’t chucked equity at it til now. Will bounce and now won’t run out of cash. At target 16m ebitda less 3m annual capex, on an 8x multiple (x13), ev should be c £100m. With net debt post cap raise of c£10m, equity value of £90m, so with 200m shares, 45p target price. Won’t get there for a while but 100pc upside and no bankruptcy risk with limited downside now means it’s a good buy at 20p

[b1nky] 26/5/2021 08:10

Stabilise around 24p

[farrugia] 26/5/2021 08:09

so what do you guys expect to happen now?

[idriveajag] 26/5/2021 07:40

That's rather a big discount for the fund raise. Around 28p would have been fair but 20p is too cheap.

[scepticalinvestor] 26/5/2021 06:59

you and most other punters no doubt.sorry for shareholders but might be tempted to buy in if it drops below 12p

[jonny_wright] 26/5/2021 06:55

Well I'm holding the bag here, ditching mine at any price 25p plus tube morning

[dagsteeth] 25/5/2021 18:39

As I long since said. Transfer of equity value to the banks. Firm placing at 20p means price will go to and stay at 20p. Which means that as the share price has gone from 40p to 20p, they are asking shareholders to fork out £21m to replenish the £21m which has evaporated over night. Equity holders have been taken for a total ride

[jimbomorry] 25/5/2021 17:48

Sly dogs, sneaking the rns out at 4.44pm.