Snoozebox Share Discussion Threads

[lennonsalive] 23/7/2015 07:30

It would for the sales team/business development to promote and sell the idea of the units to councils. Doesn't look like any councils are taking this up then?

[observer007] 23/7/2015 06:58

The Directors continue radio silence whilst every line of ever diminishing stock is taken up by some entity.

ZZZ is a glamour business with destinations in some of the most sort after events (F1, Glastonbury, Goodwood etc etc)

In my view it is clear as the light of day this will be taken private by some consortium, it could be management. Probably under 60m shares now in free float with the large majority held by friendly (to management) institutional investors.

How can a move into a Premier League football club not be worthy of an RNS??? No update on the Mears Group contract, promised in March?

Nothing news-worthy for months despite clear and ever increasing demand for the product.

Bring on the bid.

[lefrene] 22/7/2015 15:01

Break even? They are loading up on credit, so I guess they will be able to present the books as best suits their agenda, whatever it might be. I would expect to see turnover up substantially, but expenditure will also be significantly up as they expand the product range and the locations and types of location. They get good press coverage and appear to be growing strongly as a presence in the leisure and work market, for temporary accommodation.

From the price activity I get the impression that share sales are being mopped up by somebody or a concert party. What are their intentions?

[angus17] 22/7/2015 14:40

Trading update last year on the 28th July.

Could be any time now I guess.

Do we think they have reached break even yet?

Like several other people on this board, surprised by the lack of any news good or bad.

Guess we'll know soon enough

[orange1] 21/7/2015 23:09

More good publicity for the Snoozebox:

[orange1] 21/7/2015 23:07

More good publicity for the Snoozebox:

[lefrene] 20/7/2015 17:28

Curiouser and curiouser as large apparent sells get absorbed with barely a ripple. Feels like something is being worked.

[boonkoh] 16/7/2015 08:43

Observer, have you ever thought that there might be no news to report, hence no RNS? Maybe they haven't made any good progress.

[observer007] 16/7/2015 07:53

Snoozebox BOD continues to starve the market of news as someone continues to gobble up all the remaining free float that comes to the market via bored private investors.

Starving the market of news is a typical management buyout (MBO) tactic. In previous years they were happy to advise on ticket sales at various events, new contracts (however small) and so on.

We were told (in March) that a further update re the Mears Group tie up would follow, despite this contract seemingly active, we have heard nothing.

Reports from the AGM suggested that the BOD seemed aloof and reticent to questions which seemed strange, especially from a company doing so well re bookings and a plethora of new projects. Not to mention they are expected to enter a growth phase early next year.

This is a high visibility company operating in glamorous locations with significant growth (and profits) ahead, fully funded and no need to return to market for cash. An ideal candidate for a MBO.

The remaining minority investors usually get bought out at a decent premium in such cases. Worth holding on or buying in in my view.

Will we get the usual July trading update this year I wonder?

[maurillac] 15/7/2015 11:00

streuth we have the right company moniker here !!!!!!!!!!!!!!!
m

[orange1] 06/7/2015 17:24

But there is,to be fair, a lot of coverage on the snoozepods (including the Swansea City pods) on their Twitter. Can't find any mention of the Swingfield festival though .... ;-)

[p@] 06/7/2015 17:03

Obbserver-you make a lot of sense.

[lefrene] 06/7/2015 16:02

Observer007, they have gone into keeping a low profile, one suspects that this is not for the long term benefit of current holders but to suit a hidden agenda held by the inner circle. If there is a master plan to grab it on the cheap, then they had better get a move on before their competent actions make it too obvious what a growth story there is here.

[observer007] 06/7/2015 09:23

I see the management are still starving the market of news.

So far this year they have added a new product (Snooze pods) but not told the market.

Added a number of new, and high profile contracts, namely Premier League Swansea City + others.

Nothing from the promised update re Mears Group 'a further statement will be made' etc etc. That was in MARCH!

Nothing concerning the TWO major events namely Silverstone F1 and Glastonbury

I could go on but I think one gets the picture.

All the makings of a MBO here, assisted by private equity, free float is probably under 60m share right now.

Retail investors have long gone due to lack of promotion, money to be made here IMO, the last thing they would want are minority stockholders. They would probably pay 14p/15p to get shot if my theory is correct re the a MBO.

[orange1] 06/7/2015 07:37

Did they pop up without warning for a weekend of debauchery at Swingfields 2015?

[lefrene] 02/7/2015 18:37

Thanks Tadtech. Those pods look very handy, would suit anywhere that needs rapid deployment of sleeping and refreshing space. ZZZ evidently branching out into all sorts of useful accommodation 'products'.

[tadtech] 02/7/2015 18:03

ZZZ pods now installed at Premier League Swansea City, something else they do not want to tell us about, makes you wonder about a MBO

[observer007] 02/7/2015 12:06

Looks like they are keeping the Major Shareholder info up-to date as well. That is always an indication management are mindful.

68% of the company is now held by 8 significant shareholders, some clearly are friendly with management (eg Hargreave Hale 30m shares)

So now only 67m shares, to be taken out, probably in retail hands.

Current market value £20m, net cash at year end £7.2m - Cheap

No wonder they are starving the market of news!

[lefrene] 02/7/2015 12:05

Now watch them walk it down on small sells to drive out the small holders, before doing everybody a 'favour' with an MBO at 12p? About £25 million, then watch it make profits of £5+ million and onwards and upwards.

Those long term 'temporary' housing deals on council or government contracts will be cash cows, providing the ability to leverage those contracts to get funds to expand. It's going to be a gravy train for the insiders.

[tadtech] 02/7/2015 11:48

For what it is worth I do believe something is going on here and as Observer said there has not been any news for an age despite being at the peak of the events season and demand for ZZZ pods seem very high etc etc.

I have been a long term holder here and have added to my position steadily over recent months.

If a MBO is being plotted the last thing they want are minority investors kicking about.

They usually pay a decent premium to get shot of them. I would be happy in a range of 15p-20p

[norbert colon] 02/7/2015 11:45

With respect to Mears Group i suggest its worth following them on Twitter as there has been lots of tweets over the last week re: the CIH Conference in Manchester and their collaboration together. "Our partners Snoozebox are joining us at CIH Housing 2015 to showcase the future of modular social housing...". Seems pretty positive to me...

[lefrene] 02/7/2015 11:36

You could well be right there Obeserver007. Certainly sells have been mopped up by somebody, and the last update indicates the growth phase is now in place. I think the business is worth more than the current valuation and will continue to hold as the business develops. I notice they seem to be moving towards a different type of unit (purpose built trailers) for short term rapid deployment, presumably using containers for semi permanent locations.

I hope it is not taken out too cheaply, but I suspect you are correct that an MBO is being plotted.

[observer007] 02/7/2015 11:25

Obvious what is going on here, they are starving the market of news to assist with a Management Buy Out (MBO) ably assisted by private equity.

Someone has been taking out the tiny free float (about 65m shares) over the last 3-4 months.

If you are in any doubt where is the promised follow up statement concerning Mears Group? They said this on 3rd MARCH !!! 'A further, more detailed announcement will be made in due course' It never happened.

Recently Kestral Partners, acting for various clients, added 1.75m shares (taken from bored retail investors no doubt) They now have 15% or 32.5m shares. A handful of major investors hold the majority of ZZZ now

Why now and why Snoozebox???

It is simple, they are approaching growth phase (not recognized by the market yet) add the 'prestige' of contacts with F1 the Motor Racing Industry (ZZZ have boxes on most, if not every circuit) David Coultard being President of Snoozebox etc etc.

They will probably pay a premium to the remaining minority holders, it could be in a range of 30%-50% depending on how many remain.

Of course some retail buying would scupper their plan.

This is my personal view of events based on what appears to be happening.