This company listing is no longer activeThis company may still be operating, however this listing is no longer active. Find out why through their latest events.See Latest EventsNightcap (NGHT) 주식 개요나이트캡은 영국에서 바를 운영합니다. 자세히 보기NGHT 펀더멘털 분석스노우플레이크 점수가치 평가2/6미래 성장0/6과거 실적0/6재무 건전성2/6배당0/6위험 분석지난 5년간 매년 수익이 6.1% 감소했습니다.지난 3개월 동안 주가 변동성이 UK 시장과 비교했을 때 매우 높았습니다.의미 있는 시가총액이 없습니다(£7M)지난 1년 동안 주주가 희석되었습니다.모든 위험 점검 보기NGHT Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueUK£Current PriceUK£0.02485.0% 저평가 내재 할인율Growth estimate overAnnual revenue growth rate5 Yearstime period%/yrDecreaseIncreasePastFuture-6m56m2016201920222025202620282031Revenue UK£56.3mEarnings UK£4.4mAdvancedSet Fair ValueView all narrativesNightcap Plc 경쟁사Comptoir GroupSymbol: AIM:COMMarket cap: UK£7.1mHeavitree BrewerySymbol: AIM:HVTAMarket cap: UK£10.1mRevel CollectiveSymbol: AIM:TRCMarket cap: UK£375.5kBrighton Pier GroupSymbol: AIM:PIERMarket cap: UK£4.3m가격 이력 및 성과Nightcap 주가의 최고가, 최저가 및 변동 요약과거 주가현재 주가UK£0.02452주 최고가UK£0.1052주 최저가UK£0.01베타0.261개월 변동33.33%3개월 변동-42.17%1년 변동-74.74%3년 변동-88.57%5년 변동n/aIPO 이후 변동-82.86%최근 뉴스 및 업데이트공시 • Jun 28Nightcap Proposes Voluntary Cancellation of Ordinary Shares Admission to Trade on AIMNightcap Plc announced the proposed cancellation of admission of its Ordinary Shares to trading on AIM (‘Cancellation’), a proposed re-registration as a private limited company (‘Re-registration’) and the proposed adoption of new articles of association (the ‘New Articles’)(together, the ‘Proposals’). The Directors have undertaken an extensive review to evaluate the benefits and drawbacks to the Company and its Shareholders of retaining the admission to trading on AIM of the Ordinary Shares. This review has included, amongst other matters, the value that the current market capitalisation ascribes to the Company, the liquidity of the Ordinary Shares, the ability to raise further equity through public markets at an acceptable price and the cost of maintaining a public quotation. For these reasons, the Directors have concluded that the Proposals are in the best interests of the Company and its Shareholders as a whole. Further details of the background and strategic context to and the reasons for the Proposals and other matters are set out in Appendix I to this announcement. The Company has received irrevocable undertakings from several shareholders and the Directors, representing approximately 76.9% of the Company's issued share capital, to vote in favour of the Resolutions. Gareth Edwards, Chair of Nightcap, commented: ‘We have not taken this decision lightly, however, following an extensive review and deliberation to ascertain the most effective way to maximise Shareholder value in the longer term and increase the potential for the long-term success of the Company, the Board has unanimously concluded that it is in the best interests of the Company and our Shareholders to cancel our AIM admission and re-register as a private limited company’. ‘The Board believes that Nightcap's current public market valuation does not reflect the underlying potential of our business or our achievements to date and that this is unlikely to change in the short-to-medium term. Since our last institutional fundraise in May 2021, we have demonstrated several times that we can access funding from non-institutional sources at a premium to our share price at the time’. ‘We believe that we will be able to continue to execute on our strategy as a private company and therefore we believe that a cancellation of the Company's admission on AIM is in the best interests for Shareholders and for the future of our business as a whole’. A circular (‘Circular’) will be sent to Shareholders June 28, 2024, setting out the background to and reasons for the Proposals. The Company is seeking Shareholder approval for the Proposals at a general meeting, to be convened for 10:00 a.m. on 17 July 2024 (the ‘General Meeting’). The Cancellation Resolution is conditional, pursuant to Rule 41 of the AIM Rules, upon the approval of Shareholders holding not less than 75 per cent. of the votes cast by Shareholders (whether present in person or by proxy) at the General Meeting, notice of which is set out in the Circular. The resolution to approve the Re-registration and adoption of the New Articles also requires the approval of not less than 75 per cent. of the votes cast by shareholders at the General Meeting. If the Cancellation Resolution is passed at the General Meeting, it is anticipated that the Cancellation will become effective at 7.00 a.m. on 29 July 2024. To facilitate future shareholder transactions in the Ordinary Shares, conditional upon the Cancellation Resolution being passed, Asset Match Limited has been appointed to provide a matched bargain facility, which is expected to be available from 29 July 2024. Asset Match, a firm Authorised and Regulated by the Financial Conduct Authority (FRN 579310), will operate an electronic off-market dealing facility in the Ordinary Shares. This facility will allow existing shareholders of the Company and new investors to trade the Ordinary Shares by matching buyers and sellers through periodic auctions.공시 • May 31Nightcap Provides Revolution Bars Group Offer UpdateNightcap Plc (AIM:NGHT) noted, with disappointment, the announcement by Revolution Bars Group plc (AIM:RBG) of 28 May 2024 in which Revolution Bars rejected a non-binding proposal by Nightcap of a share for share offer for the entire issued and to be issued share capital of Revolution Bars (the "Possible Offer"). After encouragement by both Revolution Bars shareholders and Nightcap shareholders, the Company engaged in discussions with Revolution Bars and invested significant time and resources to explore the Possible Offer. A non-binding proposal was submitted to the board of Revolution Bars on 17 May 2024 which, the board of Nightcap believes, presented an improved outcome for Revolution Bars' shareholders and a significantly de-leveraged position for its creditors. At no point did Nightcap receive legal advice to suggest that this non-binding proposal was not capable of being delivered. The non-binding proposal did not include a fixed fundraising amount as Nightcap did not receive detailed financial information to help identify the cash requirements of Revolution Bars and the enlarged business until 21 May 2024. The board of Nightcap believes that the Possible Offer, if it had been implemented, would have seen Revolution Bars' highly dilutive £12.5m fundraising (announced on 10 April 2024) replaced by a merger of the two businesses, allowing for Revolution Bars' shareholders to suffer less dilution and achieve more value from their investment. The Possible Offer would have included a fundraising and the implementation of the restructuring plan, as already planned and outlined in the announcement by Revolution Bars in its announcement on 10 April 2024 (the "Restructuring Plan"), to be followed by a combination of the Nightcap and Revolution Bars businesses as well as a sale of the Peach Pubs brand. Having received the non-binding proposal the board of Revolution Bars and their advisers challenged Nightcap's proposal in relation to Revolution Bars own short term funding requirements, due to the extended period required for the combination of the Nightcap and Revolution Bars businesses to be implemented. On 23 May 2024 Nightcap was advised that, after careful consideration by the board of Revolution Bars, a number of its stakeholders and advisers, Revolution Bars were rejecting Nightcaps' non-binding proposal. Nightcap respects that the board of Revolution Bars wish to pursue a different outcome and as a result Nightcap confirmed that it does not intend to make an offer for the entire issued and to be issued share capital of Revolution Bars. This is a statement to which Rule 2.8 of the Code applies. As noted in the Company's announcement of 22 May 2024, the board of Nightcap believes that with five acquisitions in just over three years it is very well placed to continue executing on its consolidation strategy. The board also believes that opportunities for further consolidation in the late night sector will continue to arise in the coming year as the sector moves from incremental M&A activity to a fundamental structural transformation as many of the operators in the sector are going through significant change.공시 • May 24Nightcap Plc has filed a Follow-on Equity Offering in the amount of £3.5 million.Nightcap Plc has filed a Follow-on Equity Offering in the amount of £3.5 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 70,000,000 Price\Range: £0.05 Transaction Features: Subsequent Direct Listing공시 • May 03Revolution Bars Group Response to Press SpeculationThe Board of Revolution Bars Group plc (AIM:RBG) noted the recent press speculation and confirms that it has held an exploratory meeting with Nightcap Plc (AIM:NGHT) regarding a range of possible transactions including a possible offer for the entire issued and to be issued ordinary share capital of Revolution Bars Group. Nightcap is not participating in the Formal Sales Process, as announced on 10 April 2024. There can be no certainty that any firm offer will be made for Revolution Bars Group, nor as to the terms on which any firm offer might be made. In accordance with Rule 2.6(a) of the Code Nightcap is required, by no later than 5.00 p.m. (London time) on 30 May 2024, being 28 days after today's date, to either announce a firm intention to make an offer for Revolution Bars Group in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code. A further announcement will be made as and when appropriate.New Risk • Apr 04New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 6.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (UK£9.26m market cap, or US$11.7m).Reported Earnings • Mar 20First half 2024 earnings released: UK£0.008 loss per share (vs UK£0.005 loss in 1H 2023)First half 2024 results: UK£0.008 loss per share (further deteriorated from UK£0.005 loss in 1H 2023). Revenue: UK£33.4m (up 42% from 1H 2023). Net loss: UK£1.79m (loss widened 81% from 1H 2023). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings.더 많은 업데이트 보기Recent updates공시 • Jun 28Nightcap Proposes Voluntary Cancellation of Ordinary Shares Admission to Trade on AIMNightcap Plc announced the proposed cancellation of admission of its Ordinary Shares to trading on AIM (‘Cancellation’), a proposed re-registration as a private limited company (‘Re-registration’) and the proposed adoption of new articles of association (the ‘New Articles’)(together, the ‘Proposals’). The Directors have undertaken an extensive review to evaluate the benefits and drawbacks to the Company and its Shareholders of retaining the admission to trading on AIM of the Ordinary Shares. This review has included, amongst other matters, the value that the current market capitalisation ascribes to the Company, the liquidity of the Ordinary Shares, the ability to raise further equity through public markets at an acceptable price and the cost of maintaining a public quotation. For these reasons, the Directors have concluded that the Proposals are in the best interests of the Company and its Shareholders as a whole. Further details of the background and strategic context to and the reasons for the Proposals and other matters are set out in Appendix I to this announcement. The Company has received irrevocable undertakings from several shareholders and the Directors, representing approximately 76.9% of the Company's issued share capital, to vote in favour of the Resolutions. Gareth Edwards, Chair of Nightcap, commented: ‘We have not taken this decision lightly, however, following an extensive review and deliberation to ascertain the most effective way to maximise Shareholder value in the longer term and increase the potential for the long-term success of the Company, the Board has unanimously concluded that it is in the best interests of the Company and our Shareholders to cancel our AIM admission and re-register as a private limited company’. ‘The Board believes that Nightcap's current public market valuation does not reflect the underlying potential of our business or our achievements to date and that this is unlikely to change in the short-to-medium term. Since our last institutional fundraise in May 2021, we have demonstrated several times that we can access funding from non-institutional sources at a premium to our share price at the time’. ‘We believe that we will be able to continue to execute on our strategy as a private company and therefore we believe that a cancellation of the Company's admission on AIM is in the best interests for Shareholders and for the future of our business as a whole’. A circular (‘Circular’) will be sent to Shareholders June 28, 2024, setting out the background to and reasons for the Proposals. The Company is seeking Shareholder approval for the Proposals at a general meeting, to be convened for 10:00 a.m. on 17 July 2024 (the ‘General Meeting’). The Cancellation Resolution is conditional, pursuant to Rule 41 of the AIM Rules, upon the approval of Shareholders holding not less than 75 per cent. of the votes cast by Shareholders (whether present in person or by proxy) at the General Meeting, notice of which is set out in the Circular. The resolution to approve the Re-registration and adoption of the New Articles also requires the approval of not less than 75 per cent. of the votes cast by shareholders at the General Meeting. If the Cancellation Resolution is passed at the General Meeting, it is anticipated that the Cancellation will become effective at 7.00 a.m. on 29 July 2024. To facilitate future shareholder transactions in the Ordinary Shares, conditional upon the Cancellation Resolution being passed, Asset Match Limited has been appointed to provide a matched bargain facility, which is expected to be available from 29 July 2024. Asset Match, a firm Authorised and Regulated by the Financial Conduct Authority (FRN 579310), will operate an electronic off-market dealing facility in the Ordinary Shares. This facility will allow existing shareholders of the Company and new investors to trade the Ordinary Shares by matching buyers and sellers through periodic auctions.공시 • May 31Nightcap Provides Revolution Bars Group Offer UpdateNightcap Plc (AIM:NGHT) noted, with disappointment, the announcement by Revolution Bars Group plc (AIM:RBG) of 28 May 2024 in which Revolution Bars rejected a non-binding proposal by Nightcap of a share for share offer for the entire issued and to be issued share capital of Revolution Bars (the "Possible Offer"). After encouragement by both Revolution Bars shareholders and Nightcap shareholders, the Company engaged in discussions with Revolution Bars and invested significant time and resources to explore the Possible Offer. A non-binding proposal was submitted to the board of Revolution Bars on 17 May 2024 which, the board of Nightcap believes, presented an improved outcome for Revolution Bars' shareholders and a significantly de-leveraged position for its creditors. At no point did Nightcap receive legal advice to suggest that this non-binding proposal was not capable of being delivered. The non-binding proposal did not include a fixed fundraising amount as Nightcap did not receive detailed financial information to help identify the cash requirements of Revolution Bars and the enlarged business until 21 May 2024. The board of Nightcap believes that the Possible Offer, if it had been implemented, would have seen Revolution Bars' highly dilutive £12.5m fundraising (announced on 10 April 2024) replaced by a merger of the two businesses, allowing for Revolution Bars' shareholders to suffer less dilution and achieve more value from their investment. The Possible Offer would have included a fundraising and the implementation of the restructuring plan, as already planned and outlined in the announcement by Revolution Bars in its announcement on 10 April 2024 (the "Restructuring Plan"), to be followed by a combination of the Nightcap and Revolution Bars businesses as well as a sale of the Peach Pubs brand. Having received the non-binding proposal the board of Revolution Bars and their advisers challenged Nightcap's proposal in relation to Revolution Bars own short term funding requirements, due to the extended period required for the combination of the Nightcap and Revolution Bars businesses to be implemented. On 23 May 2024 Nightcap was advised that, after careful consideration by the board of Revolution Bars, a number of its stakeholders and advisers, Revolution Bars were rejecting Nightcaps' non-binding proposal. Nightcap respects that the board of Revolution Bars wish to pursue a different outcome and as a result Nightcap confirmed that it does not intend to make an offer for the entire issued and to be issued share capital of Revolution Bars. This is a statement to which Rule 2.8 of the Code applies. As noted in the Company's announcement of 22 May 2024, the board of Nightcap believes that with five acquisitions in just over three years it is very well placed to continue executing on its consolidation strategy. The board also believes that opportunities for further consolidation in the late night sector will continue to arise in the coming year as the sector moves from incremental M&A activity to a fundamental structural transformation as many of the operators in the sector are going through significant change.공시 • May 24Nightcap Plc has filed a Follow-on Equity Offering in the amount of £3.5 million.Nightcap Plc has filed a Follow-on Equity Offering in the amount of £3.5 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 70,000,000 Price\Range: £0.05 Transaction Features: Subsequent Direct Listing공시 • May 03Revolution Bars Group Response to Press SpeculationThe Board of Revolution Bars Group plc (AIM:RBG) noted the recent press speculation and confirms that it has held an exploratory meeting with Nightcap Plc (AIM:NGHT) regarding a range of possible transactions including a possible offer for the entire issued and to be issued ordinary share capital of Revolution Bars Group. Nightcap is not participating in the Formal Sales Process, as announced on 10 April 2024. There can be no certainty that any firm offer will be made for Revolution Bars Group, nor as to the terms on which any firm offer might be made. In accordance with Rule 2.6(a) of the Code Nightcap is required, by no later than 5.00 p.m. (London time) on 30 May 2024, being 28 days after today's date, to either announce a firm intention to make an offer for Revolution Bars Group in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code. A further announcement will be made as and when appropriate.New Risk • Apr 04New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 6.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (UK£9.26m market cap, or US$11.7m).Reported Earnings • Mar 20First half 2024 earnings released: UK£0.008 loss per share (vs UK£0.005 loss in 1H 2023)First half 2024 results: UK£0.008 loss per share (further deteriorated from UK£0.005 loss in 1H 2023). Revenue: UK£33.4m (up 42% from 1H 2023). Net loss: UK£1.79m (loss widened 81% from 1H 2023). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings.공시 • Feb 22Nightcap Plc has filed a Follow-on Equity Offering in the amount of £1 million.Nightcap Plc has filed a Follow-on Equity Offering in the amount of £1 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 16,666,666 Price\Range: £0.06 Transaction Features: Subsequent Direct Listing공시 • Nov 30Nightcap plc Announces CFO ChangesNightcap announced that Toby Rolph is stepping down as Chief Financial Officer. Toby has been involved with Nightcap since the IPO nearly three years ago and will remain with Nightcap for the coming months to ensure a smooth and orderly handover of his role. He will step down as a director of the Company on 30 November 2023. The Board of Nightcap announced that Richard Haley has been appointed as Interim Chief Financial Officer in a non-board capacity. Richard most recently held the role of Deputy Group Chief Financial Officer of Delinian Limited, formerly Euromoney Institutional Investor PLC (a FTSE 250 company). He has over twenty years of finance experience. Previously Richard was Chief Financial Officer at Future PLC and has held senior finance positions at Tesco PLC, William Hill PLC and Halma PLC. Richard spent the early part of his career at KPMG.Reported Earnings • Nov 24Full year 2023 earnings released: UK£0.021 loss per share (vs UK£0.001 profit in FY 2022)Full year 2023 results: UK£0.021 loss per share (down from UK£0.001 profit in FY 2022). Revenue: UK£46.4m (up 29% from FY 2022). Net loss: UK£4.17m (down UK£4.28m from profit in FY 2022).공시 • Nov 23Nightcap Plc, Annual General Meeting, Dec 18, 2023Nightcap Plc, Annual General Meeting, Dec 18, 2023, at 10:00 Coordinated Universal Time. Location: 5 St. Helen's Place, London. United KingdomNew Risk • Sep 29New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended January 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-UK£4.3m free cash flow). Minor Risks Latest financial reports are more than 6 months old (reported January 2023 fiscal period end). Currently unprofitable and not forecast to become profitable next year (UK£1.9m net loss next year). Shareholders have been diluted in the past year (9.9% increase in shares outstanding). Market cap is less than US$100m (UK£18.0m market cap, or US$22.0m).New Risk • Jul 03New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-UK£4.3m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable next year (UK£1.9m net loss next year). Shareholders have been diluted in the past year (9.9% increase in shares outstanding). Market cap is less than US$100m (UK£24.0m market cap, or US$30.4m).공시 • Jun 10Nightcap Plc (AIM:NGHT) entered into an asset purchase agreement to acquire Certain assets of DC Bars and Tuttons Brasserie for £4.65 million.Nightcap Plc (AIM:NGHT) entered into an asset purchase agreement to acquire Certain assets of DC Bars and Tuttons Brasserie for £4.65 million on June 9, 2023. The consideration of £4.15 million in cash on completion and a further £0.5m payable based on certain conditions being met. In conjunction with the Acquisition, Nightcap has raised a total of £5.0 million, through a subscription of 19,583,333 of new ordinary shares in the Company (the "Subscription Shares") at 12 pence per share, being a premium of 26.3% to Nightcap's last closing mid-market share price on June 8, 2023, to raise £2.35 million and the issue of £2.65 million new convertible loan notes. The Initial Consideration has been satisfied fully in cash and funded by Nightcap from a combination of the issue of: (i) the Subscription Shares at a price of 12 pence per share to new and existing shareholders in Nightcap; and (ii) £2.65 million of new convertible loan notes ("CLNs"), raising a total of £5.0 million for Nightcap.Reported Earnings • Mar 14First half 2023 earnings released: UK£0.50 loss per share (vs UK£0.004 loss in 1H 2022)First half 2023 results: UK£0.50 loss per share (further deteriorated from UK£0.004 loss in 1H 2022). Revenue: UK£23.5m (up 49% from 1H 2022). Net loss: UK£991.0k (loss widened 35% from 1H 2022). Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Hospitality industry in the United Kingdom.Board Change • Nov 16Less than half of directors are independentThere are 7 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: 7 new directors. No experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Founder & Executive Director Michael Willingham-Toxvaerd is the most experienced director on the board, commencing their role in 2020. Independent Non-Executive Director Lance Moir was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.Reported Earnings • Nov 12Full year 2022 earnings releasedFull year 2022 results: Revenue: UK£35.9m (up UK£30.0m from FY 2021). Net income: UK£114.0k (up UK£5.49m from FY 2021). Profit margin: 0.3% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the Hospitality industry in the United Kingdom.Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Lance Moir was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.Breakeven Date Change • Mar 15Forecast to breakeven in 2022The analyst covering Nightcap expects the company to break even for the first time. New forecast suggests the company will make a profit of UK£1.40m in 2022. Earnings growth of 96% is required to achieve expected profit on schedule.Buying Opportunity • Jan 24Now 26% undervaluedOver the last 90 days, the stock is up 1.4%. The fair value is estimated to be UK£0.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only.Recent Insider Transactions • May 16Insider recently sold UK£1m worth of stockOn the 12th of May, Raymond Blanc sold around 4m shares on-market at roughly UK£0.23 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of UK£1.5m more than they bought in the last 12 months.주주 수익률NGHTGB HospitalityGB 시장7D6.2%-1.4%2.5%1Y-74.7%-14.5%19.4%전체 주주 수익률 보기수익률 대 산업: NGHT은 지난 1년 동안 -14.5%의 수익을 기록한 UK Hospitality 산업보다 저조한 성과를 냈습니다.수익률 대 시장: NGHT은 지난 1년 동안 19.4%를 기록한 UK 시장보다 저조한 성과를 냈습니다.주가 변동성Is NGHT's price volatile compared to industry and market?NGHT volatilityNGHT Average Weekly Movement23.2%Hospitality Industry Average Movement5.6%Market Average Movement5.7%10% most volatile stocks in GB Market12.0%10% least volatile stocks in GB Market3.0%안정적인 주가: NGHT의 주가는 지난 3개월 동안 UK 시장보다 변동성이 컸습니다.시간에 따른 변동성: NGHT의 주간 변동성은 지난 1년간 13%에서 23%로 증가했습니다.회사 소개설립직원 수CEO웹사이트20201,000Sarah Willingham-Toxvaerdnightcapplc.com나이트캡은 영국에서 바를 운영하는 회사입니다. 더 칵테일 클럽 브랜드, 더 어드벤처 바 그룹 브랜드, 바리오 파밀리아 그룹 브랜드, 더티 마티니 브랜드로 바를 운영합니다. 나이트캡은 2020년에 설립되었으며 영국 런던에 본사를 두고 있습니다.더 보기Nightcap Plc 기초 지표 요약Nightcap의 순이익과 매출은 시가총액과 어떻게 비교됩니까?NGHT 기초 통계시가총액UK£6.71m순이익 (TTM)-UK£4.97m매출 (TTM)UK£56.27m0.1x주가매출비율(P/S)-1.3x주가수익비율(P/E)NGHT는 고평가되어 있습니까?공정 가치 및 평가 분석 보기순이익 및 매출최근 실적 보고서(TTM)의 주요 수익성 지표NGHT 손익계산서 (TTM)매출UK£56.27m매출원가UK£11.34m총이익UK£44.93m기타 비용UK£49.91m순이익-UK£4.97m최근 보고된 실적Dec 31, 2023다음 실적 발표일해당 없음주당순이익(EPS)-0.018총이익률79.85%순이익률-8.84%부채/자본 비율87.2%NGHT의 장기 실적은 어땠습니까?과거 실적 및 비교 보기View Valuation기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2024/07/29 12:11종가2024/07/29 00:00수익2023/12/31연간 수익2023/07/02데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Nightcap Plc는 1명의 분석가가 다루고 있습니다. 이 중 0명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Matthew ButlinAllenby Capital Limited
공시 • Jun 28Nightcap Proposes Voluntary Cancellation of Ordinary Shares Admission to Trade on AIMNightcap Plc announced the proposed cancellation of admission of its Ordinary Shares to trading on AIM (‘Cancellation’), a proposed re-registration as a private limited company (‘Re-registration’) and the proposed adoption of new articles of association (the ‘New Articles’)(together, the ‘Proposals’). The Directors have undertaken an extensive review to evaluate the benefits and drawbacks to the Company and its Shareholders of retaining the admission to trading on AIM of the Ordinary Shares. This review has included, amongst other matters, the value that the current market capitalisation ascribes to the Company, the liquidity of the Ordinary Shares, the ability to raise further equity through public markets at an acceptable price and the cost of maintaining a public quotation. For these reasons, the Directors have concluded that the Proposals are in the best interests of the Company and its Shareholders as a whole. Further details of the background and strategic context to and the reasons for the Proposals and other matters are set out in Appendix I to this announcement. The Company has received irrevocable undertakings from several shareholders and the Directors, representing approximately 76.9% of the Company's issued share capital, to vote in favour of the Resolutions. Gareth Edwards, Chair of Nightcap, commented: ‘We have not taken this decision lightly, however, following an extensive review and deliberation to ascertain the most effective way to maximise Shareholder value in the longer term and increase the potential for the long-term success of the Company, the Board has unanimously concluded that it is in the best interests of the Company and our Shareholders to cancel our AIM admission and re-register as a private limited company’. ‘The Board believes that Nightcap's current public market valuation does not reflect the underlying potential of our business or our achievements to date and that this is unlikely to change in the short-to-medium term. Since our last institutional fundraise in May 2021, we have demonstrated several times that we can access funding from non-institutional sources at a premium to our share price at the time’. ‘We believe that we will be able to continue to execute on our strategy as a private company and therefore we believe that a cancellation of the Company's admission on AIM is in the best interests for Shareholders and for the future of our business as a whole’. A circular (‘Circular’) will be sent to Shareholders June 28, 2024, setting out the background to and reasons for the Proposals. The Company is seeking Shareholder approval for the Proposals at a general meeting, to be convened for 10:00 a.m. on 17 July 2024 (the ‘General Meeting’). The Cancellation Resolution is conditional, pursuant to Rule 41 of the AIM Rules, upon the approval of Shareholders holding not less than 75 per cent. of the votes cast by Shareholders (whether present in person or by proxy) at the General Meeting, notice of which is set out in the Circular. The resolution to approve the Re-registration and adoption of the New Articles also requires the approval of not less than 75 per cent. of the votes cast by shareholders at the General Meeting. If the Cancellation Resolution is passed at the General Meeting, it is anticipated that the Cancellation will become effective at 7.00 a.m. on 29 July 2024. To facilitate future shareholder transactions in the Ordinary Shares, conditional upon the Cancellation Resolution being passed, Asset Match Limited has been appointed to provide a matched bargain facility, which is expected to be available from 29 July 2024. Asset Match, a firm Authorised and Regulated by the Financial Conduct Authority (FRN 579310), will operate an electronic off-market dealing facility in the Ordinary Shares. This facility will allow existing shareholders of the Company and new investors to trade the Ordinary Shares by matching buyers and sellers through periodic auctions.
공시 • May 31Nightcap Provides Revolution Bars Group Offer UpdateNightcap Plc (AIM:NGHT) noted, with disappointment, the announcement by Revolution Bars Group plc (AIM:RBG) of 28 May 2024 in which Revolution Bars rejected a non-binding proposal by Nightcap of a share for share offer for the entire issued and to be issued share capital of Revolution Bars (the "Possible Offer"). After encouragement by both Revolution Bars shareholders and Nightcap shareholders, the Company engaged in discussions with Revolution Bars and invested significant time and resources to explore the Possible Offer. A non-binding proposal was submitted to the board of Revolution Bars on 17 May 2024 which, the board of Nightcap believes, presented an improved outcome for Revolution Bars' shareholders and a significantly de-leveraged position for its creditors. At no point did Nightcap receive legal advice to suggest that this non-binding proposal was not capable of being delivered. The non-binding proposal did not include a fixed fundraising amount as Nightcap did not receive detailed financial information to help identify the cash requirements of Revolution Bars and the enlarged business until 21 May 2024. The board of Nightcap believes that the Possible Offer, if it had been implemented, would have seen Revolution Bars' highly dilutive £12.5m fundraising (announced on 10 April 2024) replaced by a merger of the two businesses, allowing for Revolution Bars' shareholders to suffer less dilution and achieve more value from their investment. The Possible Offer would have included a fundraising and the implementation of the restructuring plan, as already planned and outlined in the announcement by Revolution Bars in its announcement on 10 April 2024 (the "Restructuring Plan"), to be followed by a combination of the Nightcap and Revolution Bars businesses as well as a sale of the Peach Pubs brand. Having received the non-binding proposal the board of Revolution Bars and their advisers challenged Nightcap's proposal in relation to Revolution Bars own short term funding requirements, due to the extended period required for the combination of the Nightcap and Revolution Bars businesses to be implemented. On 23 May 2024 Nightcap was advised that, after careful consideration by the board of Revolution Bars, a number of its stakeholders and advisers, Revolution Bars were rejecting Nightcaps' non-binding proposal. Nightcap respects that the board of Revolution Bars wish to pursue a different outcome and as a result Nightcap confirmed that it does not intend to make an offer for the entire issued and to be issued share capital of Revolution Bars. This is a statement to which Rule 2.8 of the Code applies. As noted in the Company's announcement of 22 May 2024, the board of Nightcap believes that with five acquisitions in just over three years it is very well placed to continue executing on its consolidation strategy. The board also believes that opportunities for further consolidation in the late night sector will continue to arise in the coming year as the sector moves from incremental M&A activity to a fundamental structural transformation as many of the operators in the sector are going through significant change.
공시 • May 24Nightcap Plc has filed a Follow-on Equity Offering in the amount of £3.5 million.Nightcap Plc has filed a Follow-on Equity Offering in the amount of £3.5 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 70,000,000 Price\Range: £0.05 Transaction Features: Subsequent Direct Listing
공시 • May 03Revolution Bars Group Response to Press SpeculationThe Board of Revolution Bars Group plc (AIM:RBG) noted the recent press speculation and confirms that it has held an exploratory meeting with Nightcap Plc (AIM:NGHT) regarding a range of possible transactions including a possible offer for the entire issued and to be issued ordinary share capital of Revolution Bars Group. Nightcap is not participating in the Formal Sales Process, as announced on 10 April 2024. There can be no certainty that any firm offer will be made for Revolution Bars Group, nor as to the terms on which any firm offer might be made. In accordance with Rule 2.6(a) of the Code Nightcap is required, by no later than 5.00 p.m. (London time) on 30 May 2024, being 28 days after today's date, to either announce a firm intention to make an offer for Revolution Bars Group in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code. A further announcement will be made as and when appropriate.
New Risk • Apr 04New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 6.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (UK£9.26m market cap, or US$11.7m).
Reported Earnings • Mar 20First half 2024 earnings released: UK£0.008 loss per share (vs UK£0.005 loss in 1H 2023)First half 2024 results: UK£0.008 loss per share (further deteriorated from UK£0.005 loss in 1H 2023). Revenue: UK£33.4m (up 42% from 1H 2023). Net loss: UK£1.79m (loss widened 81% from 1H 2023). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings.
공시 • Jun 28Nightcap Proposes Voluntary Cancellation of Ordinary Shares Admission to Trade on AIMNightcap Plc announced the proposed cancellation of admission of its Ordinary Shares to trading on AIM (‘Cancellation’), a proposed re-registration as a private limited company (‘Re-registration’) and the proposed adoption of new articles of association (the ‘New Articles’)(together, the ‘Proposals’). The Directors have undertaken an extensive review to evaluate the benefits and drawbacks to the Company and its Shareholders of retaining the admission to trading on AIM of the Ordinary Shares. This review has included, amongst other matters, the value that the current market capitalisation ascribes to the Company, the liquidity of the Ordinary Shares, the ability to raise further equity through public markets at an acceptable price and the cost of maintaining a public quotation. For these reasons, the Directors have concluded that the Proposals are in the best interests of the Company and its Shareholders as a whole. Further details of the background and strategic context to and the reasons for the Proposals and other matters are set out in Appendix I to this announcement. The Company has received irrevocable undertakings from several shareholders and the Directors, representing approximately 76.9% of the Company's issued share capital, to vote in favour of the Resolutions. Gareth Edwards, Chair of Nightcap, commented: ‘We have not taken this decision lightly, however, following an extensive review and deliberation to ascertain the most effective way to maximise Shareholder value in the longer term and increase the potential for the long-term success of the Company, the Board has unanimously concluded that it is in the best interests of the Company and our Shareholders to cancel our AIM admission and re-register as a private limited company’. ‘The Board believes that Nightcap's current public market valuation does not reflect the underlying potential of our business or our achievements to date and that this is unlikely to change in the short-to-medium term. Since our last institutional fundraise in May 2021, we have demonstrated several times that we can access funding from non-institutional sources at a premium to our share price at the time’. ‘We believe that we will be able to continue to execute on our strategy as a private company and therefore we believe that a cancellation of the Company's admission on AIM is in the best interests for Shareholders and for the future of our business as a whole’. A circular (‘Circular’) will be sent to Shareholders June 28, 2024, setting out the background to and reasons for the Proposals. The Company is seeking Shareholder approval for the Proposals at a general meeting, to be convened for 10:00 a.m. on 17 July 2024 (the ‘General Meeting’). The Cancellation Resolution is conditional, pursuant to Rule 41 of the AIM Rules, upon the approval of Shareholders holding not less than 75 per cent. of the votes cast by Shareholders (whether present in person or by proxy) at the General Meeting, notice of which is set out in the Circular. The resolution to approve the Re-registration and adoption of the New Articles also requires the approval of not less than 75 per cent. of the votes cast by shareholders at the General Meeting. If the Cancellation Resolution is passed at the General Meeting, it is anticipated that the Cancellation will become effective at 7.00 a.m. on 29 July 2024. To facilitate future shareholder transactions in the Ordinary Shares, conditional upon the Cancellation Resolution being passed, Asset Match Limited has been appointed to provide a matched bargain facility, which is expected to be available from 29 July 2024. Asset Match, a firm Authorised and Regulated by the Financial Conduct Authority (FRN 579310), will operate an electronic off-market dealing facility in the Ordinary Shares. This facility will allow existing shareholders of the Company and new investors to trade the Ordinary Shares by matching buyers and sellers through periodic auctions.
공시 • May 31Nightcap Provides Revolution Bars Group Offer UpdateNightcap Plc (AIM:NGHT) noted, with disappointment, the announcement by Revolution Bars Group plc (AIM:RBG) of 28 May 2024 in which Revolution Bars rejected a non-binding proposal by Nightcap of a share for share offer for the entire issued and to be issued share capital of Revolution Bars (the "Possible Offer"). After encouragement by both Revolution Bars shareholders and Nightcap shareholders, the Company engaged in discussions with Revolution Bars and invested significant time and resources to explore the Possible Offer. A non-binding proposal was submitted to the board of Revolution Bars on 17 May 2024 which, the board of Nightcap believes, presented an improved outcome for Revolution Bars' shareholders and a significantly de-leveraged position for its creditors. At no point did Nightcap receive legal advice to suggest that this non-binding proposal was not capable of being delivered. The non-binding proposal did not include a fixed fundraising amount as Nightcap did not receive detailed financial information to help identify the cash requirements of Revolution Bars and the enlarged business until 21 May 2024. The board of Nightcap believes that the Possible Offer, if it had been implemented, would have seen Revolution Bars' highly dilutive £12.5m fundraising (announced on 10 April 2024) replaced by a merger of the two businesses, allowing for Revolution Bars' shareholders to suffer less dilution and achieve more value from their investment. The Possible Offer would have included a fundraising and the implementation of the restructuring plan, as already planned and outlined in the announcement by Revolution Bars in its announcement on 10 April 2024 (the "Restructuring Plan"), to be followed by a combination of the Nightcap and Revolution Bars businesses as well as a sale of the Peach Pubs brand. Having received the non-binding proposal the board of Revolution Bars and their advisers challenged Nightcap's proposal in relation to Revolution Bars own short term funding requirements, due to the extended period required for the combination of the Nightcap and Revolution Bars businesses to be implemented. On 23 May 2024 Nightcap was advised that, after careful consideration by the board of Revolution Bars, a number of its stakeholders and advisers, Revolution Bars were rejecting Nightcaps' non-binding proposal. Nightcap respects that the board of Revolution Bars wish to pursue a different outcome and as a result Nightcap confirmed that it does not intend to make an offer for the entire issued and to be issued share capital of Revolution Bars. This is a statement to which Rule 2.8 of the Code applies. As noted in the Company's announcement of 22 May 2024, the board of Nightcap believes that with five acquisitions in just over three years it is very well placed to continue executing on its consolidation strategy. The board also believes that opportunities for further consolidation in the late night sector will continue to arise in the coming year as the sector moves from incremental M&A activity to a fundamental structural transformation as many of the operators in the sector are going through significant change.
공시 • May 24Nightcap Plc has filed a Follow-on Equity Offering in the amount of £3.5 million.Nightcap Plc has filed a Follow-on Equity Offering in the amount of £3.5 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 70,000,000 Price\Range: £0.05 Transaction Features: Subsequent Direct Listing
공시 • May 03Revolution Bars Group Response to Press SpeculationThe Board of Revolution Bars Group plc (AIM:RBG) noted the recent press speculation and confirms that it has held an exploratory meeting with Nightcap Plc (AIM:NGHT) regarding a range of possible transactions including a possible offer for the entire issued and to be issued ordinary share capital of Revolution Bars Group. Nightcap is not participating in the Formal Sales Process, as announced on 10 April 2024. There can be no certainty that any firm offer will be made for Revolution Bars Group, nor as to the terms on which any firm offer might be made. In accordance with Rule 2.6(a) of the Code Nightcap is required, by no later than 5.00 p.m. (London time) on 30 May 2024, being 28 days after today's date, to either announce a firm intention to make an offer for Revolution Bars Group in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code. A further announcement will be made as and when appropriate.
New Risk • Apr 04New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 7.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 6.1% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (7.1% average weekly change). Shareholders have been diluted in the past year (18% increase in shares outstanding). Market cap is less than US$100m (UK£9.26m market cap, or US$11.7m).
Reported Earnings • Mar 20First half 2024 earnings released: UK£0.008 loss per share (vs UK£0.005 loss in 1H 2023)First half 2024 results: UK£0.008 loss per share (further deteriorated from UK£0.005 loss in 1H 2023). Revenue: UK£33.4m (up 42% from 1H 2023). Net loss: UK£1.79m (loss widened 81% from 1H 2023). Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has fallen by 44% per year, which means it is significantly lagging earnings.
공시 • Feb 22Nightcap Plc has filed a Follow-on Equity Offering in the amount of £1 million.Nightcap Plc has filed a Follow-on Equity Offering in the amount of £1 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 16,666,666 Price\Range: £0.06 Transaction Features: Subsequent Direct Listing
공시 • Nov 30Nightcap plc Announces CFO ChangesNightcap announced that Toby Rolph is stepping down as Chief Financial Officer. Toby has been involved with Nightcap since the IPO nearly three years ago and will remain with Nightcap for the coming months to ensure a smooth and orderly handover of his role. He will step down as a director of the Company on 30 November 2023. The Board of Nightcap announced that Richard Haley has been appointed as Interim Chief Financial Officer in a non-board capacity. Richard most recently held the role of Deputy Group Chief Financial Officer of Delinian Limited, formerly Euromoney Institutional Investor PLC (a FTSE 250 company). He has over twenty years of finance experience. Previously Richard was Chief Financial Officer at Future PLC and has held senior finance positions at Tesco PLC, William Hill PLC and Halma PLC. Richard spent the early part of his career at KPMG.
Reported Earnings • Nov 24Full year 2023 earnings released: UK£0.021 loss per share (vs UK£0.001 profit in FY 2022)Full year 2023 results: UK£0.021 loss per share (down from UK£0.001 profit in FY 2022). Revenue: UK£46.4m (up 29% from FY 2022). Net loss: UK£4.17m (down UK£4.28m from profit in FY 2022).
공시 • Nov 23Nightcap Plc, Annual General Meeting, Dec 18, 2023Nightcap Plc, Annual General Meeting, Dec 18, 2023, at 10:00 Coordinated Universal Time. Location: 5 St. Helen's Place, London. United Kingdom
New Risk • Sep 29New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended January 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-UK£4.3m free cash flow). Minor Risks Latest financial reports are more than 6 months old (reported January 2023 fiscal period end). Currently unprofitable and not forecast to become profitable next year (UK£1.9m net loss next year). Shareholders have been diluted in the past year (9.9% increase in shares outstanding). Market cap is less than US$100m (UK£18.0m market cap, or US$22.0m).
New Risk • Jul 03New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.9% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Less than 1 year of cash runway based on free cash flow trend (-UK£4.3m free cash flow). Minor Risks Currently unprofitable and not forecast to become profitable next year (UK£1.9m net loss next year). Shareholders have been diluted in the past year (9.9% increase in shares outstanding). Market cap is less than US$100m (UK£24.0m market cap, or US$30.4m).
공시 • Jun 10Nightcap Plc (AIM:NGHT) entered into an asset purchase agreement to acquire Certain assets of DC Bars and Tuttons Brasserie for £4.65 million.Nightcap Plc (AIM:NGHT) entered into an asset purchase agreement to acquire Certain assets of DC Bars and Tuttons Brasserie for £4.65 million on June 9, 2023. The consideration of £4.15 million in cash on completion and a further £0.5m payable based on certain conditions being met. In conjunction with the Acquisition, Nightcap has raised a total of £5.0 million, through a subscription of 19,583,333 of new ordinary shares in the Company (the "Subscription Shares") at 12 pence per share, being a premium of 26.3% to Nightcap's last closing mid-market share price on June 8, 2023, to raise £2.35 million and the issue of £2.65 million new convertible loan notes. The Initial Consideration has been satisfied fully in cash and funded by Nightcap from a combination of the issue of: (i) the Subscription Shares at a price of 12 pence per share to new and existing shareholders in Nightcap; and (ii) £2.65 million of new convertible loan notes ("CLNs"), raising a total of £5.0 million for Nightcap.
Reported Earnings • Mar 14First half 2023 earnings released: UK£0.50 loss per share (vs UK£0.004 loss in 1H 2022)First half 2023 results: UK£0.50 loss per share (further deteriorated from UK£0.004 loss in 1H 2022). Revenue: UK£23.5m (up 49% from 1H 2022). Net loss: UK£991.0k (loss widened 35% from 1H 2022). Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 9.2% growth forecast for the Hospitality industry in the United Kingdom.
Board Change • Nov 16Less than half of directors are independentThere are 7 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: 7 new directors. No experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Founder & Executive Director Michael Willingham-Toxvaerd is the most experienced director on the board, commencing their role in 2020. Independent Non-Executive Director Lance Moir was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors.
Reported Earnings • Nov 12Full year 2022 earnings releasedFull year 2022 results: Revenue: UK£35.9m (up UK£30.0m from FY 2021). Net income: UK£114.0k (up UK£5.49m from FY 2021). Profit margin: 0.3% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 9.8% growth forecast for the Hospitality industry in the United Kingdom.
Board Change • Apr 27Less than half of directors are independentFollowing the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non-Executive Director Lance Moir was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model.
Breakeven Date Change • Mar 15Forecast to breakeven in 2022The analyst covering Nightcap expects the company to break even for the first time. New forecast suggests the company will make a profit of UK£1.40m in 2022. Earnings growth of 96% is required to achieve expected profit on schedule.
Buying Opportunity • Jan 24Now 26% undervaluedOver the last 90 days, the stock is up 1.4%. The fair value is estimated to be UK£0.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only.
Recent Insider Transactions • May 16Insider recently sold UK£1m worth of stockOn the 12th of May, Raymond Blanc sold around 4m shares on-market at roughly UK£0.23 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of UK£1.5m more than they bought in the last 12 months.
