Topnotch Share Discussion Threads

[exotic] 13/11/2000 08:52

I've created a new thread; the other one having an irrelevant title.


More news today :

RNS Number:9744T
Topnotch Health Clubs PLC
13 November 2000




Topnotch health clubs plc
('Topnotch' or 'the Company')

Topnotch to Open Two New Health Clubs in Prestigious
Property Developments

Topnotch, the fast expanding operator of quality,
affordable health and fitness clubs that 'Dare to be
Different', is pleased to announce that it has agreed
terms to open new health and fitness clubs in two
prestigious property developments. The first club is to
be located in Tower 42, the landmark shopping, restaurant
and office development in the heart of the City of
London, and the second will be located in the new Sol
Central leisure development in central Northampton.

Both clubs will incorporate Topnotch's trademarked themed
zone concepts, including the nightclub style PowerZone
gym, the Ironworks dedicated free weights area, the
Planet Spin spinning studio and the recently developed
Chill Out Zone. In addition, each club will also offer
PT Maxx, Topnotch's personal training programme, and a
swimming pool.

Tower 42, the former Natwest Tower, is owned by Tower Ltd
Partnership with Hermes, Greycoat and Mercury Asset
Management as investors. It is the tallest building in
the City of London, housing offices, a Roux Fine Dining
Room, a Champagne bar, and various other amenities and
facilities. The new Topnotch club at the site will be
approximately 15,000 sq ft. in size. Building work will
start this month, and the club is due to open in the
Spring 2001.

Sol Central is a new leisure development which will
incorporate a hotel, a family entertainment centre, a
nightclub, restaurants and bars. The site is under
construction and on schedule for opening in Summer 2001.
Topnotch joins an impressive line up of tenants which
includes Cinemark International Limited, Howard Johnson
Hotels and The Nolans Inn Group. Sol Central will be the
first dedicated leisure development in the heart of
Northampton city centre, one of the country's fastest
growing regional cities. The Topnotch Sol Central club
will cover an area of approximately 20,000 sq. ft.

In addition to these latest agreements, Topnotch is
pleased to announce that it has agreed a new #5 million
loan facility with NatWest Bank plc. The new facility
will be used for the development of further new sites.

Matthew Harris, Chief Executive, commented: 'We are
delighted to be opening two new Topnotch clubs in such
prestigious locations. We are very excited about
bringing our innovative themed club design concept into
the heart of the City at Tower 42 and our involvement in
the Sol Central development underlines our commitment to
rolling out our innovative health club concept in large
regional centres.

'In addition, our new bank facility with NatWest
underlines our continuing acquisitive strategy, and we
will continue to explore opportunities for further
expansion by acquisition and organic growth.'



For further information, please contact:

Topnotch health clubs plc 020 8232 6802
Matthew Harris, Chief Executive

Square Mile Communications 020 7601 1000
Kevin Smith
Anna Watson



END
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[exotic] 13/11/2000 08:39

Here's the extremely positive article from yesterday's "Market Miscellany" section of the Sunday Telegraph (Business) :

"Having been as high as 201.5p earlier this year, shares in THC, the AIM-quoted leisure business, have crashed to a low of 82.5p. The company issued a statement on Friday noting the downward movement in the share price. It insists the fall has nothing to do with the trading outlook for the company but instead has been caused by an instiution selling shares acquired when it merged with another fund management group. Topnotch, a newcomer to the quoted leisure market, is trading in line with expectations. The company recently bought 5 clubs from rival Cannons for £1.7m. Half-year results due out in January are not expected to dissapoint having reported a £130,000 loss in its maiden results. The company is undervalued. BUY."

[exotic] 13/11/2000 08:21

From www.citywire.co.uk

17:39, Fri 10 Nov 2000
Intrinsic steps in after Topnotch goes lower
Yesterday’s share slump at Topnotch was the ideal opportunity for Mark Farrer-Brown’s Intrinsic Value to take a stake in the health club group, writes Laurence Fletcher.

Topnotch (THC) shares tumbled 28p to 88.5p yesterday after an institutional seller dumped them following a funds group merger.

Farrer-Brown’s Intrinsic (ITV)quickly snapped up 600,000 shares at the knockdown price. He already held a personal stake of 8,824 shares, as we reported in July.
AIM fund Beacon also has a stake in the group.

But the shares, floated at 200p in March, fell further today, losing 6p to 82.5p.

Topnotch said it ‘know of no reasons relating to the trading or business activities of the company’ that caused the fall. ‘Trading is in line with market expectations'.

[exotic] 13/11/2000 08:10

I got in on Friday, and as I stated earlier, I have no intention selling for quite a while at least.

I am convinced these have a lot further to go towards the pre Wednesday price and the false scare when the institution had to sell as a result of a merger. ie. a technical reason for the sale; not inside information which spooked the market.

[kevin prescott] 11/11/2000 00:50

Sorry - forget to mention - what was the status of that 10,000 sell.

And the spread is pretty steep.

Kev

[kevin prescott] 11/11/2000 00:47

Unfortunately I've already used most of my margin on GLYN - should be a bid soon.

I'm with you - they could be up quite smartly in a week or two - having looked at their past annoucements they actually look like a nice little company (see aquisitions and appointment of sales manager from LA fitness).

Could be tempted to tuck them away!

Kev

[exotic] 11/11/2000 00:39

I am expecting approx. 90p by close tomorrow, 110p this time next week.

I took them on a T+10 basis which makes Wed 22nd the latest I can sell them back. I may as well hold until the 22nd since even if I sold them back today, my broker would not let me trade again until the 24th (settlement day).

How much and for how long are you holding?

[kevin prescott] 11/11/2000 00:00

Cool - feel sorry for the guy who got in first thing this morning :

Are you holding for today? week?

I reckon 90p-100p respectable target??

Kev

[exotic] 10/11/2000 13:13

There are only 2 trades that I think are sells; the 2,000@9:29am (#11) and the 2,000@12:16 (#32).

The others are "T" trades (protected transactions) which the MM's do not usually publish at time of execution, so the bid/offer spread is not a guide.

The other large trades coming through just now @approx. 68p are late reported trades from this morning. Likewise, their impact has already been reflected in the shareprice.

[exotic] 10/11/2000 11:52

It was a Protected Transaction (50,000 bought this morning@65p) but at first the trade was showing the current buy price at the time it was reported (79p) instead of the price at the time it was bought (65p at between 8:21am and 8:40am), so they corrected it.

BTW, the fact that the MM's at first mis-reported it using the BUY price, gives their game away - definitely a buy.

Price still moving up.

[kevin prescott] 10/11/2000 11:49

It was protected, so presuambly it caused the initial fall this morning?

Is there anybody out there?

Kev

[kevin prescott] 10/11/2000 11:41

What the hell happened to trade number 28?

First a buy, then a sell - not seen that before!

Kev

[kevin prescott] 10/11/2000 10:51

There are your trades

Kev

[kevin prescott] 10/11/2000 10:16

Sorry about the new post lads - Epic was put in the title - I'll stick to this thread.

Well, a recovery to yesterday's price doesn't seem unreasonable, given that nothing happened today to justify the drop.

Looking at that MM 'sell' its cleary a buy.

Price target anyone?

[exotic] 10/11/2000 09:49

Thanks Thoroughbred, I only bought 5,000 which although not very much, is still 10 times the NMS.

[thoroughbred] 10/11/2000 09:30

nms for THC is only 500, depending on the size of your purchase it will show up in a hours time, six hours time or sometime in the future!

[exotic] 10/11/2000 09:25

I just snapped up a bundle of these but the trade has not been reported. I assume this is due to the small NMS, is that correct?

Are there any other buyers here in the same situation?