Sureserve Share Discussion Threads

[gr20287] 12/11/2002 15:06

3PM offer has now expired.
I sold recently and expect the price to drop now. I will then buy back as I expect a new offer from Concert by next week - again at 60p

[jamsie] 11/11/2002 18:53

does any body know the tel no for the registrars

[dontrader] 07/11/2002 16:33

Definately not. I think that this is effectively a con to bolster the shares controlled by Pinco & Luke Johnson. IO would be very interested to know more about the options. Such as when were they granted and what is/are the exercise price.

For the record I hold and I have not returned the acceptance form.

Don

[tom2] 07/11/2002 10:42

where are all the additional shares coming from? do you agree to them?

[tiredandweary] 04/11/2002 10:27

I don't think that concert will put a bid together, if they haven't by now, they won't, probably can't raise the cash, so a stand off seems likely
no higher bid from management. no acceptance from concert. stock price down to 40 again, very dull.

[katsuman] 02/11/2002 23:50

heaven, did not answer your question, sorry, Luke needs 90%, which he cannot possibly get without the Concert who own 29.5%.

Rgds

[katsuman] 31/10/2002 02:01

Extended to 12th NOv, but there again the "Concert" may commence on the 20th Nov. We shall see.
Rgds

[heaven] 23/10/2002 11:22

Question???
Offer now extended to 29th oct. How many time can they do this and what percentage of acceptance do the need?

[gr20287] 18/10/2002 14:44

I certainly have not accepted this offer, as my vote won't make the difference - but at least show my disgust at the way we have been treated
My guess is that no contra offer will be made by Concert party before tuesday and that therefore the offer will lapse. Consequently the price will drop back down.
Concert could then come in with an offer of 60p a share - and Luke Johnson & Co can't do anything else than accept is as they put 60p as fair value on the company. Talking of shooting yourself in the foot.

[katsuman] 18/10/2002 02:50

Anybody joined the "Concert party"?

Interesting (for the FSA), that Kintaro are apparently backing Luke, but Kintaro were never actually identified as I can recollect (wrt Thread Leader).

Now that is interesting, especially that Kintaro are now backing good old Luke in his MBO. Maybe it is all above board? As the current announcements regarding options etc, which are not mentioned in the Takeover document, all very intesting.

Facts are that 2 years ago-ish, Luke bought big time into this at 4p. The share went down the pan, he got a wimp on and moved the goalposts (1-10), remember?

With a true valuation of Le Caprice and Ivy included in other assets, the MBO are way below true value, which I believe should be near 75p+, that is nearer £31-£32M, not £24.7M as quoted (they could sell off certain assests for that amount alone)!

I rate the "Ivy" as probably the one of the best in the world, probably as a result of Luke staying away from it! I've seen better in Singapore and Hong Kong but not in Europe. US, no chance.

The "Ivy" and "Le Caprice" is what you loose if you sell

For those that hold nominee accounts like me (TD Waterhouse), you are too late, you have defaulted, same as I have...which means "No" to Lukes attempt to recoup his losses at Shareholders expence, Well done.

For those that deal in Certs, it's up to you Guys and Girls, hope you make the right decision, you have a few days to do that.

Good luck, I hope at least you can make money where Luke has lost it (his attitude could improve couldn't it)!

Rgds

[utsushi] 14/10/2002 08:56

Left to my own divices i am not sure i would dine at Aubergine SW10, doesn't quite work since Gordon Ramsay left....

[katsuman] 14/10/2002 00:34

bigboyo, so sorry, on that Friday we had all migrated to Aubergines's, you know, the one owned by that nice man (and associates), think his name is Giuliano.

We had intended to visit Ivy's but, despite the MBE, and in the absence of Popstar rinkles, self inflicted damage to the veins in one's arms and a positive attitude (feel sure that the chef can get it right if left to his own divices), Luke denied us a table.

It just happened that Giuliano was taking part in a "Concert Party" so we decided to join.

Apparently, Luke is not so keen on Concert Parties, explains his absence.

Anyway, sorry we missed you, hope you enjoyed your meal!

Rgds

[bigboyo] 11/10/2002 12:14

We were about to test out the strada in Richmond and noticed how empty it was last Friday night

Went into the packed Italian next door instead -- wise move methinks

I do not think that investors should assume that Luke can do a Pizza Express on this one -- his recent track record seems to indicate that success like PIZ is probably based on being in the right place at the right time

Time will tell

[simonevans] 10/10/2002 21:50

This looks encouraging. I don't think I will be accepting a 60p offer - 75-80p looks a bit more sensible.

[dontrader] 10/10/2002 16:32

See today's announcement regarding the "Concert Party" who are considering their options.

pls pls pls make a better offer.

Don

[simonevans] 08/10/2002 20:41

Price moved above 60p today is encouraging. Let's hope an increased offer arises as I think LJ is fleecing shareholders here!

[gr20287] 08/10/2002 10:55

Game definitely not over. Rumours that a contra offer will soon be on the table.
Bid price now more than 60p.

Interseting to see if Johnson would then increase on his current offer. If he does, than this would show how much he is taking from shareholders pockets.

I am looking to a new offer of at leat 75p

[jeff h] 01/10/2002 23:55

No mention of Park accepting the offer....
maybe the game aint over yet

[simonevans] 01/10/2002 22:01

60P is fairly pathetic, but in today's market most investor will probably think that cash is better than shares in this group. I think that the sequence of events over the last two years has all been in anticipation of today....two profit warnings althought trading has been quite good really, name change to Signature emphasising amorphous mass of restaurants and downplaying the gems in this group - Strada, Belgo, Bierodrome before you even get to Caprice and Ivy, downplay Strada continually - modest profit etc. etc. but should have been demerged into an ASK CENTRAL equivalent if genuine about shareholder value rather than Luke Johnson value, Luke appears in a TV programme and looks an idiot in a Belgo restaurant, cut the dividend to £nil when they didn't need to but brought the share price down which seemed to be the objective......I could go on, but its not worth it. One message...steer clear of this management team in the future whenever they mention shareholder value because they are more interested in their own value. One interesting thought....will we see Strada being sold or floated for more than £25m on its own in 2/3 years??? As always DYOR as these are only my personal views.

[wild bill] 01/10/2002 21:55

jeff h

do you have an email address where you can be reached

I'd welcome a contact

THANK'S JEFF, EMAIL ON IT'S WAY........

Regards

Bill

[gr20287] 01/10/2002 11:36

60p accepted by 20% of shareholders and the directors. Seems a little cosy group buying at bottom price. Worth holding out to see if there is a counter bid.

[jeff h] 15/7/2002 09:10

Well got fed up of waiting for a definite bid and sold the last of
my holding.... thought it wise to lock in a 50%+ profit.

Recent coverage has said that Giuliano Lotto doesn't want to make a
bid, but wants to block Luke Johnson from taking The Ivy or force
him to pay a realistic price for a MBO.

Would have thought a hedge fund such as Park would have wanted out.

Several restaurant groups have reported poor trading recently, though
the Jubilee must have helped, on balance, deciding between waiting for
a bid at maybe 60 - 65p weighed against a possible announcement that
the talks are off and a resulting fall down to say 40p... I trousered
the cash.

I'll still keep tabs on this one though.... rumours that no-one is
quite sure who is behind the Kintaro stake and Hugh Osmond recently
raising cash by selling Punch shares all add to the possibilities.

I'll be very interested to see just how the group is doing when they
report in 6 weeks or so time.

[bristolbaz] 27/6/2002 03:49

oh, and you might want to take a look at this:

[bristolbaz] 27/6/2002 03:31

Rumours are still flying around about a possible bid for Signature Restaurants, the group containing an extremely diverse portfolio, including the world famous trio of The Ivy, Le Caprice and J. Sheekey's, but also the Belgo mussels and frites purveyors and Strada pizza places, positioned slightly lower down the market.



DYOR