ourkid8 Posted March 4, 2016 Share Posted March 4, 2016 What was everyone's thoughts on Q2 F'2016 earnings? Link to comment Share on other sites More sharing options...
kab60 Posted March 5, 2016 Share Posted March 5, 2016 I think it looks pretty good when you take out the $325,640 in additional legal fees which should be one-offs, and I'd expect interest costs to go down as well after the refi. There's better corporate governance and lower management fees, so Company seems to do the right things. Annualized you'd be starting to look at a pretty low earnings multiple when you adjust the numbers plus there's growing sales (not sure if one can expect that to continue). What do you think? Link to comment Share on other sites More sharing options...
ourkid8 Posted March 5, 2016 Share Posted March 5, 2016 Looks to be a good report with continued progress. Sales were up, was that due to pricing or volumes? I think it looks pretty good when you take out the $325,640 in additional legal fees which should be one-offs, and I'd expect interest costs to go down as well after the refi. There's better corporate governance and lower management fees, so Company seems to do the right things. Annualized you'd be starting to look at a pretty low earnings multiple when you adjust the numbers plus there's growing sales (not sure if one can expect that to continue). What do you think? Link to comment Share on other sites More sharing options...
ourkid8 Posted October 7, 2016 Share Posted October 7, 2016 http://finance.yahoo.com/news/russell-breweries-inc-enters-two-152115137.html I am not sure if anyone noticed this news release but they are selling-off the company for approximately $0.085 on a per share basis, which represents a premium of 35%. Sanjeev, care to shed additional light on why? I am not complaining as it is a nice premium but a little background would be nice. Link to comment Share on other sites More sharing options...
bskptkl Posted October 7, 2016 Share Posted October 7, 2016 At first glance - not much of a premium! It is barely higher than book value. I've seen micro breweries trade for roughly $1000 USD per barrel of production (see Ballast Point, Lagunitas, even BREW is almost there). To be fair, those comps are much larger and growing. Must be a lot of warts on RB... Link to comment Share on other sites More sharing options...
Parsad Posted October 7, 2016 Share Posted October 7, 2016 http://finance.yahoo.com/news/russell-breweries-inc-enters-two-152115137.html I am not sure if anyone noticed this news release but they are selling-off the company for approximately $0.085 on a per share basis, which represents a premium of 35%. Sanjeev, care to shed additional light on why? I am not complaining as it is a nice premium but a little background would be nice. Actually closer to 10.5 cents on a fully-diluted basis, but after all closing costs, debt, payables, legal, etc...net 8.5 cents. Reasons why selling will be in the annual letter or discussed at the special meeting. Cheers! Link to comment Share on other sites More sharing options...
hillfronter83 Posted November 22, 2016 Share Posted November 22, 2016 http://finance.yahoo.com/news/russell-breweries-inc-enters-two-152115137.html I am not sure if anyone noticed this news release but they are selling-off the company for approximately $0.085 on a per share basis, which represents a premium of 35%. Sanjeev, care to shed additional light on why? I am not complaining as it is a nice premium but a little background would be nice. Actually closer to 10.5 cents on a fully-diluted basis, but after all closing costs, debt, payables, legal, etc...net 8.5 cents. Reasons why selling will be in the annual letter or discussed at the special meeting. Cheers! So the deal is closing in a few days and the spread is still over 10%. I know it's a micro cap, but still. Am I missing something here? Link to comment Share on other sites More sharing options...
ourkid8 Posted November 22, 2016 Share Posted November 22, 2016 No, you are not however we won't get paid out all in 1 shot. Payments will be spread out in 2-3 seperate payments over the next year. It's a not bad return if you have cash parked in a savings account. http://finance.yahoo.com/news/russell-breweries-inc-enters-two-152115137.html I am not sure if anyone noticed this news release but they are selling-off the company for approximately $0.085 on a per share basis, which represents a premium of 35%. Sanjeev, care to shed additional light on why? I am not complaining as it is a nice premium but a little background would be nice. Actually closer to 10.5 cents on a fully-diluted basis, but after all closing costs, debt, payables, legal, etc...net 8.5 cents. Reasons why selling will be in the annual letter or discussed at the special meeting. Cheers! So the deal is closing in a few days and the spread is still over 10%. I know it's a micro cap, but still. Am I missing something here? Link to comment Share on other sites More sharing options...
drzola Posted December 20, 2016 Share Posted December 20, 2016 Picking away at this arbitrage as volume is quite heavy today. Why is the big question here of course tho? Link to comment Share on other sites More sharing options...
Parsad Posted December 21, 2016 Share Posted December 21, 2016 Picking away at this arbitrage as volume is quite heavy today. Why is the big question here of course tho? There was press release yesterday indicating that the asset sales have closed. Cheers! Link to comment Share on other sites More sharing options...
bbarberayr Posted December 21, 2016 Share Posted December 21, 2016 There is also a couple risks here. The purchase of the Fort Garry assets are subject to working capital adjustments, so these could eat through the profits if they are significant. The Russel Brewery sale is not being paid for for 6 months, so there are risks this falls through. Plus both have significant parts of the purchase being held in trust for indemnification claims, which is kind of unusual, so there may be something here we don't know about. Buy at $0.07 and sell at $0.085 in less than a year is a great return, but I've seen these types of things not work out as clean as you'd like - something to think about. Link to comment Share on other sites More sharing options...
ourkid8 Posted January 10, 2017 Share Posted January 10, 2017 Sanjeev, since both deals are now closed when is management planning on moving to the NEX exchange and finally distributing cash back to shareholders? Link to comment Share on other sites More sharing options...
Cevian Posted January 11, 2017 Share Posted January 11, 2017 The communication on this, or lack thereof, has been disappointing. Link to comment Share on other sites More sharing options...
hillfronter83 Posted January 11, 2017 Share Posted January 11, 2017 The communication on this, or lack thereof, has been disappointing. I imagine Sanjeev is as anxious as other shareholders to get cash distribution. Link to comment Share on other sites More sharing options...
Parsad Posted January 11, 2017 Share Posted January 11, 2017 Sanjeev, since both deals are now closed when is management planning on moving to the NEX exchange and finally distributing cash back to shareholders? It's a public company...I cannot make a comment on this until the company has done so. The communication on this, or lack thereof, has been disappointing. It's not as simple as you think. Because the company will be dissolved or sold (shell) after a year, all associated costs, tax liabilities, legal, accounting, filing costs, have to be accounted for before any distribution. Otherwise, there may be a shortfall and we would have to claw back distributed capital from shareholders. For a small company, it was a very complex deal. You'll hear something soon enough. Cheers! Link to comment Share on other sites More sharing options...
ourkid8 Posted February 20, 2017 Share Posted February 20, 2017 Still waiting... You'll hear something soon enough. Cheers! Link to comment Share on other sites More sharing options...
EricSchleien Posted February 20, 2017 Share Posted February 20, 2017 You guys are a tough crowd. Link to comment Share on other sites More sharing options...
Parsad Posted February 20, 2017 Share Posted February 20, 2017 Not much longer...they're working on it. Cheers! Link to comment Share on other sites More sharing options...
hillfronter83 Posted March 3, 2017 Share Posted March 3, 2017 During the three months ended December 31, 2016, Russell completed the sale of all of the property and assets used or utilized in its business of producing beers in Manitoba and BC. The sale was approved by the shareholders of Russell at a shareholders meeting held on November 28, 2016. It is expected that an initial distribution of the proceeds will be in the next few months with a final distribution before the end of calendar 2017. Sounds like we won't see any distribution until mid of the year. Link to comment Share on other sites More sharing options...
drzola Posted March 24, 2017 Share Posted March 24, 2017 First cash :-* payment of $0.05 CDN dollar enroute for mid April it appears? Link to comment Share on other sites More sharing options...
netnet Posted March 27, 2017 Share Posted March 27, 2017 There is also a couple risks here. The purchase of the Fort Garry assets are subject to working capital adjustments, so these could eat through the profits if they are significant. The Russel Brewery sale is not being paid for for 6 months, so there are risks this falls through. Plus both have significant parts of the purchase being held in trust for indemnification claims, which is kind of unusual, so there may be something here we don't know about. Buy at $0.07 and sell at $0.085 in less than a year is a great return, but I've seen these types of things not work out as clean as you'd like - something to think about. Are you still skeptical? Link to comment Share on other sites More sharing options...
InspireByReason Posted July 3, 2017 Share Posted July 3, 2017 So to summarize you guys will be receiving another .05 sometime 17/18? Link to comment Share on other sites More sharing options...
bizaro86 Posted July 3, 2017 Share Posted July 3, 2017 Where did you get the extra $0.05 from? I divided their last balance sheet by shares outstanding and got $0.088, and they paid out $0.05 already. Plus they have to pay g&a and windup costs, so the likely payout is probably <$0.03 more, which is why the shares are sticky at $0.025. Anyway, I'd be happy to hear I was wrong. Link to comment Share on other sites More sharing options...
Cevian Posted July 3, 2017 Share Posted July 3, 2017 You are not wrong, but my calculations got me to ~ 0.035. Timing is uncertain though. Link to comment Share on other sites More sharing options...
InspireByReason Posted July 3, 2017 Share Posted July 3, 2017 Do you mind sharing what numbers you used? First time looking at a closed shop situation trying to wrap my head around some of the terminology. Edit: Ok it's my bad I was not accounting for G&A or wrap up costs. Link to comment Share on other sites More sharing options...
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