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Is this Oasis exiting their position ?
I was thinking the same. Teddies fully out of the pram.
Just seen it as massive buying opportunity... so for me its a win win
There's no denying the share price performance has been abysmal - I tend to agree with Oasis that a shake up is required. Clearly there's resistance at the top, as you'd expect in these situations. An activist investor, imo, is a good thing. When the share price is languishing and the company doesn't appear to have much of a clue how to reignite interest, sometimes it needs someone with clout to go in there and not be afraid to ruffle a few feathers in an attempt to turn things around.
Pretty savage press release by oasis today. Will be interesting to see how the boars respond.
Obviously the board must be confident of the coming results and strategy going forward I am expecting share price to move up before the day.Good luck all
Absolutely savage, and a bit more realistic than their first effort. Its hard for the BOD to defend this one. For those who haven't seen it..
https://www.businesswire.com/news/home/20230220005169/en/Oasis-Reaffirms-its-Position-and-the-Need-for-Change-at-The-Restaurant-Group
Time to put your house on it (subject to PUTIN on the 24th) things are hotting up for a quick 2x or even 3x gain!
They make some good points. I doubled up. Hopefully it will have the desired effect and then they get themselves over to COST!
RNS: Basically .. "keep your powder dry!"
The board have doubled down and are hanging their hat on the results date, and fully expect the report to be a massive "told ya so " moment .
I'm 100% sure there will be some smug faces on March the 8th!
Oasis clearly do not have any idea of the history of the past 5 years or so. Whilst an update in Jan would have been nice it is not the end of the world. A 14 year old playing with figures seems to have created the rest of their argument with no info re the rationale for the raises or the movement in cash balances, this is available and the reasons why! Oasis need to come up with some hard evidence that RTN are badly managed and have no coherent strategy.
"Oasis need to come up with some hard evidence that RTN are badly managed and have no coherent strategy"
Going by the share price, the market appears to agree with Oasis.
Not sure I would agree that bad management is the sole reason for the current RTN SP, concerns re future earning potential given the economic conditions is far more likely to impact the SP. The results and outlook will make interesting reading and may or may not support Oasis's view, not long until we find out.
I think Oasis a little impatient. So far I’ve been impressed with Exec / Board. (Albeit I’m 20% down).
NoW just under 10% down. Bring on results.
Was at a Waga last week - busy (not ever seen that one not).
The B&P & Waga brands are superb. I am now up 16.5% and see this continuing to rise into late 40s if not early 50s. I have the intrinsic value of this way beyond that.
If you haven't been to a B&P I can highly recommend it. Its our favourite Sunday roast and always incredibly busy.
Dyor
Hi all,
Its looking good for next week as the anticipated rise to results kicks in. Question is will anyone de-risk on mon Tue next week or let it ride to results day?
GLA
I’m a going to let mine ride think we’re going to see some improvement and with air traffic still moving up there operations there should be doing well just need train strikes to end.
For me this is a hold. I expect results to be good and push values back up to 50s and potentially 60s but there is no doubt some headwinds coming over next couple of years due to economic climate. My 2 - 5 year target would be in the £1s.
As has been discussed on this board previously the B&P and Wagammas brands are really strong and likely to be less impacted by CoL crisis however the leisure side of the business will struggle. Jury is still out on the consession side, but it's likely not to reach peak until after we get through this global economic turmoil.
Rightly or wrongly it unlikely I will be derisking.
Well said. Leisure side at risk from fight of the mediocrity. Where able exit or convert into Wagamama opportunities. I think concessions at airport will be okay as from memory there’s a link between passenger numbers and rent so some risk-share. Where I’d like to see additional focus (and I mean additional not diversion of existing resource) is the international franchise model - I think this has good growth potential and probably starts to make RTN more attractive as a buy-out - ultimately I think that’s where we’ll end up and I’m hoping it’s around the 150 mark (not much science in that - more a feel given SP breaches 140 not that long ago and to my mind business is in a better position now albeit in a challenging external environment.