Tag: VRL

Finally, it’s over – the drawn-out Village Roadshow takeover saga – suitable for screening in one of the company’s cinemas has moved into the final phase – ratification by the courts.

Finally, the Village Roadshow game, sorry bid/takeover battle, standoff (choose the one you think is applicable) continued yesterday when the company’s shares resumed trading on the ASX and a $3 a share offer from suitor BGH emerged.

The battle for control of the perennially underperforming Village Roadshow continues. This time it’s a major investor in the market buying shares and trying to block private equity group BGH’s takeover of the theme park and cinema owner.

The nagging battle for Village Roadshow continues with a new, higher offer price for the company from private equity suitor, BGH Capital. The new price will be increased by 12 cents a share to a maximum of $2.32.

The great Village Roadshow takeover marathon has been run and was eventually won late Thursday by private equity group, BGH Capital at less than the $2.40 a share top price offer launched in May.

The desperation to get a deal done with its private equity suitor has seen Village Roadshow give BGH Capital yet another extension of its exclusive negotiating period until, wait for it, today, Thursday.

So will the re-opening of some of its Gold Coast theme parks help Village Roadshow get a deal with private equity player, BGH Capital over the line by the deadline of June 30 (which is next Tuesday)?

The mooted private equity buyout of Village Roadshow might be looking a bit shaky. Village Roadshow yesterday revealed that it has extended by two weeks, and possibly four, the exclusivity period for its discussions with BGH Capital Pty Ltd (“BGH”).

A second, lower offer for Village Roadshow from private equity group, BGH Capital has seen a sharp rise in the value of VRL shares but remains well under the levels seen in BGH’s first offer back in January.

Trading in Village Roadshow shares resumed yesterday and on the face of it the 14.4% fall to $1.865 after the suspension to allow the first stage of a $51 million fund raising to happen was good news.

It’s no wonder Village Roadshow is looking to raise $51 million from shareholders – the company’s losses through impairments ballooned in the year to June, according to a release from the company yesterday.

Village Roadshow is reported to be looking at raising up to $50 million in an issue after the shares were suspended yesterday at the company’s request.

Shares in Village Roadshow have fell yesterday after the company surprised with yet another earnings downgrade.

Shares in Village Roadshow edged higher yesterday on very small volume after shareholders were told at Friday’s annual meeting they will have to wait for nearly a year before they find out when the company will resume paying dividends.

It’s been coming for months, and on Thursday Village Roadshow put us all out of our misery (well its shareholders) by finally revealing the bottom line for what was a rotten year in 2016-17 – a $66.7 million loss against what was a weak $15.7 million profit a year earlier. And the problems and losses for the company (which include quitting Hollywood film financing) means there’s no dividend for shareholders.

More losses and impairments will give Village Roadshow another slide in annual profit for the year to June 30 after which will be a replay of the 2015-16 result.

Village Roadshow continues to shrink its asset base to cut debt and save the company from a credit crunch.

Less than a week after unwinding its loss making adventures in Hollywood, Village Roadshow (VRL) saw its shares drop to new four year lows on Monday after it warned that already weak visitor numbers to its theme parks, especially on the Gold Coast, had been further hit by Tropical Cyclone Debbie.

Village Roadshow (VRL) shares were sold off yesterday when it joined a rising number of companies revealing disruptions for first half or full year earnings.

Village Roadshow (VRL) shares took a pounding yesterday, losing more than 8% in value after the company came up short on an earnings and dividend forecast.

Good news for the minority shareholders in Village Roadshow (VRL), with the company taking the money and running from Southern Cross Media’s bid for Austereo and using the cash to make a capital return of $1 a share.