Time Out Share Discussion Threads

[stephencoster] 20/6/2019 12:50

Boston Market opening next Thursday taking total markets to 4. Photos on Google / Yelp, and Google Live Busyness indicate both New York and Miami getting ok crowds for first few weeks and would expect to improve as word gets out.Another 200k buy yesterday. Wouldn't be surprised to see a management / funds buy out given the very small % of shares outside the top 4 holders.

[stephencoster] 12/6/2019 09:17

And another 100k director purchase .... breakout. Reviews online for both markets in Miami and New York mention they are very busy so good signs. Boston opening this month.

[stephencoster] 11/6/2019 07:13

Director purchasing another 200k as well as Invesco increasing holding. Positive signs.

[rambutan2] 07/6/2019 02:10

That’s Woodford departing. Not a bad result getting 88p. Be interesting to see who took his (21.64m) shares.

[stephencoster] 06/6/2019 21:42

Huge volumes going through today! 33% of issued capital.

[stephencoster] 03/6/2019 12:50

A quiet board but not quiet at Time Out.2 markets opened in May on Miami and NY. Reviews seem overall positive and photos show both appearing very busy indicating the concept / demand has ported over from Lisbon.3 more planned to open in 2019 ... Very low volume share but long term I believe has significant upside.

[salchow] 26/10/2018 11:17

I note that Peter Dubens has bought another 300K shares after buying 1.45M in June. Yes he can afford it and big investors can get it completely wrong but they don't normally deliberately throw their money away. If I were a holder it would give me some confidence.

[salchow] 25/10/2018 13:27

vilage_idoit - only just seen your post as I don't look on here very often not holding any shares directly. Interesting write-up on the other site. I guess it all comes down to how the promised new Time Out Markets perform. If visiting Lisbon I would have a look at the existing one. I don't know why it has taken so long to make progress but they are referring to specific new outlets in the next year so we shall see what happens.

[fillipe] 25/10/2018 09:54

Dropping a lot on small, so far today,

f

[fillipe] 22/10/2018 09:14

Might as well do a name-change to "Timed Out".

f

[vilage_idoit] 09/10/2018 13:00

salchow - yes, you are right. Ideally I'd have spotted this company much higher. As it happens, my short was recalled and so I no longer hold a position.

I think they are excessive, and it is a slap in the face to shareholders to increase them given that they've not achieved anything apart from huge losses. They keep going on about how exciting the "Time Out Markets" concept is, but haven't opened a single one since 2014.

I've written up further thoughts here - please feel free to have a read. Thanks.

hxxps://cube.investments/911/

Regards,
@vilage_idoit

[salchow] 06/9/2018 09:42

vilage_idoit - a short at this level is very brave. If those were your views it should have been a short at a break of 125 with a closure on the bit of a rally at just above 80.

I don't have a position (apart from through OCI) but it seems to be a company undergoing an interesting transition that could well pay off taking a several year view. With regard to salaries I don't know how many hours per year they work but if full time they are not particularly excessive.

[vilage_idoit] 04/9/2018 11:57

Gone short here. What an absolute crock this is. Directors' salaries totaled almost £2m last year and despite one director less this year it's still nearly £2m.

Julio Bruno gives himself a £300k salary and a £297k bonus - up £24k from last year despite having achieved very little.

Richard Boult went from £133k salary and £67k bonus to £200k salary and almost £100k bonus.

Christine Pietersen gets £276k plus a (thoroughly deserved, I'm sure) £260k bonus. All of this doesn't include share options for all three.

Time Out had cash of £19.3m as of 31 December 2017 yet burned through £24.6m and a comprehensive loss of just under £30m. Do the maths! No idea why this is a £110m market cap. They will need to raise, and in its current valuation it is massively overvalued.

Given my short position I am obviously biased, but if you are considering investing here I'd look how much the directors earn and how much shares they actually bought with their own money. Is there really not a better company out of the 2,000+ listed on the stock market to invest in?

@vilage_idoit

[fillipe] 08/6/2018 10:13

Mmmm .... today's AGM statement was a bit "short and sweet" and not one for making the ducks fly off the water, is my feeling.

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[fillipe] 11/5/2018 10:31

As at 21-3-2018 Report, OCI, Woodford, Invesco and Insight = 90.31%, so so heavy burning going on for all of those.

Difficult to know how this will go as it's such an odd mix and nothing available by way of forecasts, other than from Liberum and their number must now be being hugely questioned.

f

[skyship] 10/5/2018 12:09

OCI's NAV being pruned yet again as TMO (their largest holding) falls another 6% today - something rather wrong here perhaps...certainly the share price performance rather concerning. Chart not a pretty sight:


free stock charts from uk.advfn.com

[fillipe] 10/5/2018 10:09

Best bid/ask now ....95p v 100p.

No surprises there at the falling off the cliff.

f

[fillipe] 05/5/2018 13:36

The IC of 6-4-2018 dedicated 2/3rds of a whole page to them....BUY @ 130p.....they were obviously over-excited by the foodie bit of the business.

At the end of the article they qualify the BUY in the numbers table with an earlier mention of it being "a speculative and risky buy", but it would have been easy to just focus only on the finale... BUY mention.

I'm only voyeur at TMO for now, and possibly so forever.

f

[pireric] 05/5/2018 12:48

Liberum's method of valuation is ridiculous IMO. But what do you expect.. I guess they were involved with the float?

I recall that TMO weren't profitable over Liberum's forecast period IIRC and so how do you value this? It's a massive guess

[fillipe] 05/5/2018 12:22

Thanks, pireric - my view the same.

24-1-2018 Liberum gave it a tp of 195p...looks as though we'll shortly be looking at a half of that.

Seems to me that too much optimism is given to their new Food Markets - a vg idea but not enough to improve the overall group picture, I feel.

f

[pireric] 04/5/2018 22:17

Crazy valuation. That's the crux IMO

[fillipe] 02/5/2018 09:53

A generally downward drift with this one
Whatever small about of bullishness there was a month or so ago now seems to have evaporated....unsurprisingly so,imo.

Anyone with a view. pls?

Thanks.

f

[spob] 04/8/2016 09:53

Not sure how the shareholders managed to float this junk

but i guess they deserve some credit for that


I bet they can't wait for the lock up agreements to end :)

[spob] 04/8/2016 09:50

From the Admission Doc

The Group has incurred net losses in recent years and may not be profitable in the future The Group incurred losses before income tax of £12.6 million and £21.0 million for the financial years ended 31 December 2014 and 31 December 2015, respectively. Although the Group’s revenue increased from £26.9 million in the financial year ended 31 December 2014 to £28.5 million in the financial year ended 31 December 2015, the Group may not be able to maintain the rate of its revenue growth in future periods as a result of a variety of factors, including increased competition and the maturation of the business, and there can be no assurance that the Group’s revenue will continue to grow or that it will not decline. The Group expects its operating expenses to continue to increase as its operations are expanded and, therefore, to be profitable the Group will need to increase its revenue sufficiently to offset higher expenses. Historical revenue growth and operating expenses should therefore not be considered as being indicative of future performance and there can be no assurance that the Group will be profitable or when the Group may be able to achieve profitability.

[dice1950] 15/6/2016 04:33

Time Out, the iconic listings and city guides publisher, chose a bleak day to make its debut on the Alternative Investment Market.
The shares fell to 139.5p after the company, in which entrepreneur Peter Dubens is a major shareholder, raised £90million last week by selling 60million shares to institutional investors at 150p a share.
The £90million will be used to bolster the loss-making company’s growth plans in ‘digital advertising, e-commerce and Time Out Markets’, and to pay off its debt.



Time Out's share price flops on London market debut


CompaniesTime Out dips 10% on London debut
Financial Times


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