공고 • Feb 12
Fortress Investment Group LLC completed the acqusition of Loungers plc (AIM : LGRS) from Lion Capital LLP and others. Fortress Investment Group LLC entered into an agreement to acquire Loungers plc (AIM : LGRS) from Lion Capital LLP and others for approximately £320 million on November 28, 2024. The offer will be Under the terms, all shares will be acquired for £3.1 per share in cash. The Scheme is expected to become Effective in Q1 2025. Transaction is subject to approval of Loungers shareholders and regulatory approval. The deal has been approved by the board of directors of Fortress Investment and Loungers plc. As on January 15, 2025, Price per share has been changed to £3.25 per share in cash. As of January 30, 2025, the requisite majority of Loungers Shareholders voted at the General Meeting to pass the Resolution to approve the implementation of the Scheme. As an alternative to the Increased and Final Cash Offer, Eligible Scheme Shareholders will continue to be able to elect for the Alternative Offer in relation to some or all of their holdings of Loungers Shares (subject to the implementation of the Rollover Process as detailed in the Scheme Document). The Scheme remains subject to the sanction by the Court at the Court Sanction Hearing and the satisfaction of the other Conditions to the Scheme and the Acquisition. Executive chairman Alex Reilley and chief executive Nick Collins warned shareholders they would consider their positions “untenable” if the second bid was voted down. The Court Sanction Hearing is scheduled to take place on 7 February 2025. Subject to obtaining the approval of the Court, and the satisfaction or, where applicable, the waiver of the other Conditions (as set out in the Scheme Document), the Scheme is expected to become effective on 11 February 2025. As of February 7, 2025, Loungers announced that the High Court of Justice in England and Wales has today issued the Court Order sanctioning the Scheme.
Anthony Parsons, David Plowman, Christopher Fincken, Alex Thomas and Alina Vaskina of HSBC Bank plc acted as finance advisor to Fortress Investment Group LLC and Sam Fuller, Tim Richardson and Tom Barnard of Houlihan Lokey UK Limited acted as financial advisor to Loungers. Slaughter and May is acting as legal adviser to Fortress Investment Group LLC and Leon Ferera of Jones Day is acting as legal adviser to Loungers. Tom Mercer and Tim Rennie of Ashurst LLP acted as legal advisor to HSBC Bank plc.
Fortress Investment Group LLC completed the acqusition of Loungers plc (AIM : LGRS) from Lion Capital LLP and others on February 11, 2025. The admission to trading of Loungers Shares on AIM was suspended with effect from 7.30 a.m. February 11, 2024. It is expected that the admission to trading of Loungers Shares on AIM will be cancelled with effect from 7.00 a.m. on February 12, 2025. 공고 • Nov 28
CF EXEDRA BIDCO LIMITED entered into an agreement to acquire Loungers plc (AIM : LGRS). CF EXEDRA BIDCO LIMITED entered into an agreement to acquire Loungers plc (AIM : LGRS) on November 28, 2024. Under the terms, all shares will be acquired for £3.1 per share in cash. The Scheme is expected to become Effective in Q1 2025. Transaction is subject to approval of Loungers shareholders. Regulatory shareholders.
HSBC Bank plc acted as finance advisor to CF EXEDRA BIDCO and Houlihan Lokey UK Limited acted as financial advisor to Loungers. Slaughter and May is acting as legal adviser to Bidco and Jones Day is acting as legal adviser to Loungers. 공고 • Nov 13
Loungers plc to Report First Half, 2025 Results on Nov 28, 2024 Loungers plc announced that they will report first half, 2025 results on Nov 28, 2024 공고 • Sep 02
Loungers plc, Annual General Meeting, Oct 08, 2024 Loungers plc, Annual General Meeting, Oct 08, 2024. Location: ritorno lounge, unit 3, v shed, canons road, bs1 5uh, bristol United Kingdom Reported Earnings • Jul 10
Full year 2024 earnings released: EPS: UK£0.086 (vs UK£0.067 in FY 2023) Full year 2024 results: EPS: UK£0.086 (up from UK£0.067 in FY 2023). Revenue: UK£353.5m (up 25% from FY 2023). Net income: UK£9.12m (up 32% from FY 2023). Profit margin: 2.6% (up from 2.4% in FY 2023). The increase in margin was driven by higher revenue. Same store sales growth: 7.5% vs FY 2023 Total stores: 257 (up by 35 from FY 2023). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 9.0% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. 공고 • Apr 09
Loungers plc Announces Executive Changes Loungers plc announced that Justin Carter is being promoted from his current role of MD of the Lounge brand to the newly created position of Group MD. The introduction of this new role is aimed at ensuring that Loungers has the optimal senior management structure to deliver continued consistent financial out-performance as the Group continues to grow rapidly. Justin will now be responsible for all three of Loungers' brands, which will allow each of them to benefit from his invaluable industry experience and operational expertise. Justin joined Loungers in 2015 as COO before becoming Lounge MD in 2017. He was previously Operations Director at Fuller Smith & Turner, prior to which he founded and then subsequently sold The Elbow Room, a chain of pool bars. The company is also announced to be appointing Kate Eastwood to replace Justin in the role of Lounge MD. Kate joins the Group from Fuller, Smith and Turner where she has been Operations Director for the past four years. She previously worked in a variety of roles for Revolution Bars Group, including Sales & marketing Director, and Director of Business Development. Recent Insider Transactions • Jan 10
CEO & Director recently sold €334k worth of stock On the 8th of January, Nicholas Charles Collins sold around 130k shares on-market at roughly €2.57 per share. This transaction amounted to 12% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Nicholas Charles' only on-market trade for the last 12 months. Reported Earnings • Nov 30
First half 2024 earnings released: EPS: UK£0.026 (vs UK£0.024 in 1H 2023) First half 2024 results: EPS: UK£0.026 (up from UK£0.024 in 1H 2023). Revenue: UK£149.6m (up 22% from 1H 2023). Net income: UK£2.74m (up 11% from 1H 2023). Profit margin: 1.8% (down from 2.0% in 1H 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 9.9% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €2.56, the stock trades at a forward P/E ratio of 25x. Average forward P/E is 16x in the Hospitality industry in Europe. Total returns to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €4.78 per share. 공고 • Oct 13
Loungers plc to Report First Half, 2024 Results on Nov 28, 2023 Loungers plc announced that they will report first half, 2024 results on Nov 28, 2023 Reported Earnings • Sep 03
Full year 2023 earnings released: EPS: UK£0.067 (vs UK£0.17 in FY 2022) Full year 2023 results: EPS: UK£0.067 (down from UK£0.17 in FY 2022). Revenue: UK£283.5m (up 20% from FY 2022). Net income: UK£6.93m (down 61% from FY 2022). Profit margin: 2.4% (down from 7.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. 공고 • Sep 02
Loungers plc, Annual General Meeting, Oct 13, 2023 Loungers plc, Annual General Meeting, Oct 13, 2023, at 13:00 Coordinated Universal Time. Location: Armada House, Telephone Avenue Bristol United Kingdom 공고 • Aug 18
Loungers plc Appoints Lucy Knowles as Managing Director of Its Cosy Club Brand Loungers plc has announced the appointment of Lucy Knowles as Managing Director of its Cosy Club brand. Knowles was previously Managing Director of London-based bar chain, Corney & Barrow, later joining SSP as Group Marketing Director. During her time at SSP, Knowles led brand and menu innovation for over 150 brands and innovated several new global brand concepts. She will join Loungers in September. New Risk • Jul 14
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: €444k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Profit margins are more than 30% lower than last year (2.4% net profit margin). Significant insider selling over the past 3 months (€444k sold). Recent Insider Transactions • Jul 14
Founder recently sold €444k worth of stock On the 12th of July, Alexander Reilley sold around 200k shares on-market at roughly €2.22 per share. This transaction amounted to 2.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Alexander's only on-market trade for the last 12 months. New Risk • Jul 13
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.4% Last year net profit margin: 7.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Jul 13
Full year 2023 earnings released: EPS: UK£0.067 (vs UK£0.17 in FY 2022) Full year 2023 results: EPS: UK£0.067 (down from UK£0.17 in FY 2022). Revenue: UK£283.5m (up 20% from FY 2022). Net income: UK£6.93m (down 61% from FY 2022). Profit margin: 2.4% (down from 7.5% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. 공고 • Jun 10
Loungers plc (AIM:LGRS) commences an Equity Buyback Plan for 10,328,799 shares, representing 10% of its issued share capital, under the authorization approved on October 14, 2022. Loungers plc (AIM:LGRS) commences share repurchases on June 9, 2023, under the program mandated by the shareholders in the Annual General Meeting held on October 14, 2022. As per the mandate, the company is authorized to repurchase up to 10,328,799 shares, representing 10% of its issued share capital. The minimum price (exclusive of expenses) which may be paid for each ordinary share is £0.01 and the maximum price which may be paid for each ordinary share is the higher an amount equal to 105% of the average of the middle market quotations for an ordinary share as derived from the London Stock Exchange Daily Official List of the UK Listing Authority for the five business days immediately preceding the day on which the ordinary share is contracted to be purchased. The shares purchased may either be cancelled or held as treasury shares, which may then be subsequently cancelled, sold for cash or used to satisfy share options and share awards under a company's employee share scheme. The authority shall expire at the conclusion of the next Annual General Meeting of the company or 15 months after the passing of this resolution, whichever is the earlier. As of August 19, 2022, the company had 103,287,994 ordinary issued share capital. Reported Earnings • Dec 01
First half 2023 earnings released: EPS: UK£0.024 (vs UK£0.11 in 1H 2022) First half 2023 results: EPS: UK£0.024 (down from UK£0.11 in 1H 2022). Revenue: UK£122.3m (up 20% from 1H 2022). Net income: UK£2.46m (down 77% from 1H 2022). Profit margin: 2.0% (down from 11% in 1H 2022). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Senior Independent Non-Executive Director Nick Backhouse was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 28
Full year 2022 earnings released: EPS: UK£0.17 (vs UK£0.11 loss in FY 2021) Full year 2022 results: EPS: UK£0.17 (up from UK£0.11 loss in FY 2021). Revenue: UK£237.3m (up 203% from FY 2021). Net income: UK£17.9m (up UK£29.0m from FY 2021). Profit margin: 7.5% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 14%, compared to a 671% growth forecast for the Hospitality industry in Germany. Over the last 3 years on average, earnings per share has increased by 88% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 14
Full year 2022 earnings released Full year 2022 results: Revenue: UK£237.3m (up 203% from FY 2021). Net income: UK£17.9m (up UK£29.0m from FY 2021). Profit margin: 7.5% (up from net loss in FY 2021). Same store sales growth: 22.1% vs FY 2021 Total stores: 195 (up by 27 from FY 2021). Over the next year, revenue is forecast to grow 12%, compared to a 753% growth forecast for the restaurants industry in Germany. Breakeven Date Change • Apr 30
Forecast breakeven date pushed back to 2023 The 6 analysts covering Loungers previously expected the company to break even in 2022. New consensus forecast suggests the company will make a profit of UK£10.0m in 2023. Average annual earnings growth of 15% is required to achieve expected profit on schedule. Board Change • Apr 27
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 5 experienced directors. 1 highly experienced director. 3 independent directors (4 non-independent directors). Senior Independent Non-Executive Director Nick Backhouse was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Dec 04
First half 2022 earnings: EPS in line with analyst expectations despite revenue beat First half 2022 results: EPS: UK£0.11 (up from UK£0.002 in 1H 2021). Revenue: UK£102.4m (up 91% from 1H 2021). Net income: UK£10.9m (up UK£10.7m from 1H 2021). Profit margin: 11% (up from 0.3% in 1H 2021). Revenue exceeded analyst estimates by 2.2%. Over the next year, revenue is forecast to grow 80%, compared to a 26% growth forecast for the industry in Germany. Breakeven Date Change • Sep 23
Forecast to breakeven in 2022 The 4 analysts covering Loungers expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of UK£12.0m in 2022. Earnings growth of 43% is required to achieve expected profit on schedule. Reported Earnings • Jul 27
Full year 2021 earnings released: UK£0.11 loss per share (vs UK£0.14 loss in FY 2020) The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2021 results: Revenue: UK£78.3m (down 53% from FY 2020). Net loss: UK£11.1m (loss narrowed 13% from FY 2020). Same store sales growth: 13.3% vs FY 2020 Total stores: 175 (up by 10 from FY 2020). Board Change • Jul 27
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 3 independent directors. 4 non-independent directors. Senior Independent Non-Executive Director Nick Backhouse was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Jul 22
Full year 2021 earnings released: UK£0.11 loss per share (vs UK£0.14 loss in FY 2020) The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2021 results: Revenue: UK£78.3m (down 53% from FY 2020). Net loss: UK£11.1m (loss narrowed 13% from FY 2020). Is New 90 Day High Low • Mar 10
New 90-day high: €2.78 The company is up 15% from its price of €2.42 on 10 December 2020. The German market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.24 per share. Is New 90 Day High Low • Feb 04
New 90-day high: €2.64 The company is up 81% from its price of €1.46 on 06 November 2020. The German market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 10.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.36 per share. Recent Insider Transactions • Dec 13
Founder & Commercial Director recently sold €1.5m worth of stock On the 10th of December, Jacob Bishop sold around 650k shares on-market at roughly €2.36 per share. This was the largest sale by an insider in the last 3 months. This was Jacob's only on-market trade for the last 12 months. Reported Earnings • Dec 06
First half 2021 earnings released: EPS UK£0.002 The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: UK£53.5m (down 33% from 1H 2020). Net income: UK£156.0k (up UK£2.22m from 1H 2020). Profit margin: 0.3% (up from net loss in 1H 2020). The move to profitability was driven by lower expenses. Is New 90 Day High Low • Nov 12
New 90-day high: €1.94 The company is up 41% from its price of €1.38 on 14 August 2020. The German market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is up 7.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €2.16 per share.