Topnotch Share Discussion Threads

[sore loser] 28/5/2003 14:38

Gawd knows -

Agreement in principle to bank deal at end of Jan 03, now still 'close to concluding a deal'.

Flog it and give what little dosh there is back to shareholders I say!

[dennisbergkamp] 22/5/2003 08:09

Anything in this still?

D.

[sreddy] 31/1/2003 16:50

Disappointing asset write-offs, but at October it still left 12.7p of net assets per share. I trust the directors took the opportunity to go over the top in the write-downs, which is what prudent tends to mean in these circumstances.

It looks as if the wait for recovery will be a little longer, but I need till November to qualify for taper relief anyway. Hopefully things will be on the up by then.

I still think that a take-over is a possibility. Indeed the asset write-downs allow a bid to come in at a lower level than the previous asset value would have allowed (It would be difficult to do a successful offer at lower than net tangible assets). The company has confirmed it is not in talks, but with what is going on in the industry there must be some thoughts about a take-over or MBO.

I must admit to having sold 100k today (still very profitable since my net cost per share is less than 2p), but I am holding 450,000 for better times and AIM taper relief.

[yashbalggan] 21/1/2003 11:15

Thanks Sreddy

[sreddy] 21/1/2003 10:39

yashbalggan,

Please browse my previous posts to get my detailed thoughts, but once the banking is sorted and there are some signs of recovery then the discount of share price to net tangible assets should decrease dramatically. The last announced NTA were 42p per share and after today's annoying little drop, the share price is only 5.25p, or 6p to buy.

[yashbalggan] 21/1/2003 10:01

Morning sreddy,
I am a memeber of a Topnotch health club in my area, they seem to be doing alright you know....they are still taking on many new members.
What would you say is fair value for this company.....?
IMHO it is well undervalued

[sreddy] 21/1/2003 09:54

I think so. They are really punishing sells. I picked up another 50k at 5.5p today - Now hold just under 3.4%.

[sreddy] 21/1/2003 09:54

Duplicate, sorry.

[yashbalggan] 21/1/2003 09:49

why the fall today............are the mm's screwing around again??

[zedder] 20/12/2002 21:07

So if their other 19 clubs are worth the same, or probably more given where some are located, the current Mkt Cap really is starting to look a bit silly, even given the debt they took on to achieve such rapid expansion.

As I said on a thread I created in July:



even if the Health Club side has been weak, they've done very nicely on the property thank you very much!

[logica2me] 20/12/2002 20:47

It certainly is love !

[tokyogirl] 20/12/2002 17:05

THEY HAVE SOLD THEIR DERBY HEALTH CLUB FOR £1000000 PAID IN CASH.
THAT'S GREAT!

[sreddy] 05/12/2002 00:21

And I did. Bought 65k today @ 7.5p and 7.38p. MM's weren't interested yesterday at 7p nor today at 7.25p. Now hold 465k (2.85%). If bank deal is sorted, then we must get closer to net tangible assets of 42p per share! Allowing for a trading performance discount from NTA, I would be happy with 22p. LOL! Higher is not inconceivable.

If the share does not move significantly, then we must be a target for an MBO/bid.

[logica2me] 04/12/2002 13:21

sreddy

Glad SOMEONE is taking notice of me! They certainly won't stay below 10p for long......

Ciao

Log

[logica2me] 04/12/2002 11:26

As I said...............

LOGICA2ME - 03 Dec'02 - 13:52 - 139 of 140 edit

Banking facilities approved! All systems go! BUY at 7.5p while you can

[logica2me] 03/12/2002 13:52

Banking facilities approved! All systems go! BUY at 7.5p while you can !

[logica2me] 03/12/2002 13:52

Topnotch Health Clubs PLC chairman Charles Scott said trading
has "continued to remain difficult" since its full year results announced on Oct
30, although sales in the last three months have been encouraging.
Scott told the company's AGM that discussions with bankers on the breach of
its bank covenants are "progressing well", and that it anticipates agreeing new
facilities.
He added that the company is working hard to achieve profitability through
tight cost controls and growing membership.

[logica2me] 27/11/2002 11:43

London Trader

If you have the cash, I'd advise that you accumulate/buy. Have you dont that spreadsheet yet by the way? I'd also like to know the issue price and value of the shares which I am being issued. If need be, I will agree to a 12 month 'lock in period'.

[london trader] 27/11/2002 11:41

Look like some have already started buying to get some cheap shares

[london trader] 26/11/2002 13:43

I may buy in January if there still the same price then

[sreddy] 15/11/2002 14:06

No message - I don't know what happened here.

[multibagger] 15/11/2002 11:04

sreddy,

No offence taken - I understand your reluctance. No burning questions /issues either. Best wishes.

[sreddy] 15/11/2002 09:46

No offence, multibagger, but I'd rather not get into private disussions. If you give me a clue as to what you want to discuss, I might change my mind.