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Grand Parade (GPL)


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#21 DividendTycoon

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Posted 18 April 2018 - 03:33 PM

That is actually why I bought in, if it weren't for the gaming side that can fund the food side it was a different story. The problem (I think) is the baskin robbins & dunkin side, the one here in Stellies is a very very quite most days (avid supporter I'll admit) and the few times I've been in Tygervalley had limited footfalls so how many donuts/ice creams do you need to push just to cover the rental in those places, let alone the rest of the stuff.. but the gaming, properties & Spur holding makes it worth a bite at this levels but wouldn't go all in

Dunkin and Baskin fairly immaterial compared to burger King, which is starting to perform. Think Baskin will be sold off anyway.


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#22 Goliath

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Posted 18 April 2018 - 02:34 PM

Feels a bit like a form of madness, but so have I. It hard to see your portfolio keep going down but I just keep looking at the assets I am buying and the price I am paying. Stnadard Bank research showed gaming assets are worth over R3, so Spur/Burger King etc is for free. (That is the theory anyway)

 

That is actually why I bought in, if it weren't for the gaming side that can fund the food side it was a different story. The problem (I think) is the baskin robbins & dunkin side, the one here in Stellies is a very very quite most days (avid supporter I'll admit) and the few times I've been in Tygervalley had limited footfalls so how many donuts/ice creams do you need to push just to cover the rental in those places, let alone the rest of the stuff.. but the gaming, properties & Spur holding makes it worth a bite at this levels but wouldn't go all in


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#23 Polly

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Posted 18 April 2018 - 01:45 PM

turning out to be a big value trap here or some fund manager disposing and selling off....

 

im also in on a truckload adding as its falls so lets hope if fund manager, the overhang will soon be finished!!!


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#24 DividendTycoon

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Posted 18 April 2018 - 01:29 PM

Added some GPL to my holdings, couldn't resist at current levels

Feels a bit like a form of madness, but so have I. It hard to see your portfolio keep going down but I just keep looking at the assets I am buying and the price I am paying. Stnadard Bank research showed gaming assets are worth over R3, so Spur/Burger King etc is for free. (That is the theory anyway)


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#25 Goliath

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Posted 17 April 2018 - 11:20 AM

Very very tempted Bull, listened to Anthony Clark's presentation - makes some good points, and if the Spur synergies come to play..

 

Added some GPL to my holdings, couldn't resist at current levels


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#26 Goliath

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Posted 20 March 2018 - 03:51 PM

In addition , unit trust holdings increased by 70% as at the end of the September 2017 versus the June 2017 quarter and by a further 5% by the quarter  end of December 2017. Institutions are seeing value in the company with the Investec Value fund being the biggest buyer.

 

Very very tempted Bull, listened to Anthony Clark's presentation - makes some good points, and if the Spur synergies come to play..


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#27 Bullhunter

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Posted 20 March 2018 - 12:53 PM

At the time Keith wrote the article the price was R3.79. Currently it is hovering around R2.40. Subsequent to writing it, GPI  bought back 33m  of its own shares,  sold off buildings to raise cash to roll out more stores, downsized head office, bought more Spur shares (17.8% holding) built a new bakery to supply Dunkin Doughnuts (was importing them!) and freezer facility to store more ice cream locally.Burger King is HEPS positive.

 

GPI sold 10.0% of its holding in SunWest and Worcester casinos, leaving it with 15 %, and  70.0% of Sun Slots leaving it with a 30% holding as at June 2017.

 

Read Anthony Clarks' opinion at 39 minutes:

 

https://justonelap.c...-anthony-clark/

In addition , unit trust holdings increased by 70% as at the end of the September 2017 versus the June 2017 quarter and by a further 5% by the quarter  end of December 2017. Institutions are seeing value in the company with the Investec Value fund being the biggest buyer.


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#28 Bullhunter

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Posted 19 March 2018 - 01:20 PM

Nicely summed up, but why isn't the share price jumping?

 

An oldie I found - nice point Keith makes:

 

http://smallcaps.co....eap-isnt-cheap/

At the time Keith wrote the article the price was R3.79. Currently it is hovering around R2.40. Subsequent to writing it, GPI  bought back 33m  of its own shares,  sold off buildings to raise cash to roll out more stores, downsized head office, bought more Spur shares (17.8% holding) built a new bakery to supply Dunkin Doughnuts (was importing them!) and freezer facility to store more ice cream locally.Burger King is HEPS positive.

 

GPI sold 10.0% of its holding in SunWest and Worcester casinos, leaving it with 15 %, and  70.0% of Sun Slots leaving it with a 30% holding as at June 2017.

 

Read Anthony Clarks' opinion at 39 minutes:

 

https://justonelap.c...-anthony-clark/


Edited by Bullhunter, 19 March 2018 - 01:23 PM.

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#29 Goliath

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Posted 17 March 2018 - 01:12 PM

Interim results out today.

 

Trading at R2.28 per share. The gaming assets  NAV  alone =R3.60 per share. That is , you get all the food assets (Spur, Burger king,Duncan Doughnuts,Baskin Robbins, the new bakery) and properties for free and the gaming assets at a 36% discount.

 

Nicely summed up, but why isn't the share price jumping?

 

An oldie I found - nice point Keith makes:

 

http://smallcaps.co....eap-isnt-cheap/


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#30 Bullhunter

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Posted 16 March 2018 - 10:43 AM

Interim results out today.

 

Trading at R2.28 per share. The gaming assets  NAV  alone =R3.60 per share. That is , you get all the food assets (Spur, Burger king,Duncan Doughnuts,Baskin Robbins, the new bakery) and properties for free and the gaming assets at a 36% discount.


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#31 Bullhunter

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Posted 21 January 2018 - 01:09 PM

Have had similar experiences, Burger King a quality product in the QSR space.I think the interims for December will be good, perhaps share price will react. Where is Turfloop?

Sorry, Turfhall,Cape Town.


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#32 DividendTycoon

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Posted 21 January 2018 - 12:12 PM

Got my Double Whopper with cheese at the Turfloop branch this evening.It has only been open for 4 months and it was PUMPING, especially the drive through.Then popped into the branch at Kenilworth Centre. It too was busy. The Steers in the same food court, with a similar size shop, was dead.  

Have had similar experiences, Burger King a quality product in the QSR space.I think the interims for December will be good, perhaps share price will react. Where is Turfloop?


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#33 Bullhunter

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Posted 19 January 2018 - 09:25 PM

Popped in to Burger King at Cavendish last night to have a Double Whopper and endless Mountain Dew.The place was pumping, considering it is January  mid-month (broke post holidays and back to school costs).

 

Steers (Famous Brands), in the same food quarter, was dead.May as well close its doors.

Got my Double Whopper with cheese at the Turfloop branch this evening.It has only been open for 4 months and it was PUMPING, especially the drive through.Then popped into the branch at Kenilworth Centre. It too was busy. The Steers in the same food court, with a similar size shop, was dead.  


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#34 Bullhunter

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Posted 13 January 2018 - 12:18 PM

Popped in to Burger King at Cavendish last night to have a Double Whopper and endless Mountain Dew.The place was pumping, considering it is January  mid-month (broke post holidays and back to school costs).

 

Steers (Famous Brands), in the same food quarter, was dead.May as well close its doors.


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#35 DividendTycoon

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Posted 10 January 2018 - 10:12 AM

RVF will only take up the excess not taken by existing shareholders.

Yes that is what I am saying, the company will end up with the full R398m irrespective of whether people want to take up their rights.


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#36 Bullhunter

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Posted 09 January 2018 - 05:39 PM

The rights offer is underwritten by RVF, so they will get the R398m. This may help them get out of the mess they in. However, I still prefer GPI on almost every metric, still cheap after going up over 20% in the last few days.

RVF will only take up the excess not taken by existing shareholders.


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#37 DividendTycoon

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Posted 09 January 2018 - 09:30 AM

Taste in deep trouble:

 

Taste intends to raise up to R398 000 000.70 by way of a fully committed renounceable rights offer (ôRights Offerö), in terms of which Taste will offer a total of 442 222 223 authorised but unissued ordinary shares of no par value (Rights Offer Shares) at a subscription price of 90 cents per rights offer share in the ratio of 96.28624 rights offer shares for every 100 Taste shares held by shareholders at the close of business on the record date for the rights offer, being Friday, 12 January 2018. 

The rights offer is underwritten by RVF, so they will get the R398m. This may help them get out of the mess they in. However, I still prefer GPI on almost every metric, still cheap after going up over 20% in the last few days.


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#38 Bullhunter

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Posted 05 January 2018 - 07:32 PM

Taste in deep trouble:

 

Taste intends to raise up to R398 000 000.70 by way of a fully committed renounceable rights offer (ôRights Offerö), in terms of which Taste will offer a total of 442 222 223 authorised but unissued ordinary shares of no par value (Rights Offer Shares) at a subscription price of 90 cents per rights offer share in the ratio of 96.28624 rights offer shares for every 100 Taste shares held by shareholders at the close of business on the record date for the rights offer, being Friday, 12 January 2018. 


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#39 Bullhunter

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Posted 03 January 2018 - 06:13 PM

My exposure to this share already high, but could not resist buying around the R2.30 level recently.

 

Unless we are all missing something, some fraud or other disaster, it is very cheap, as you say the gaming assets alone worth more than the market cap.

 

My experience with Burger King is that they are mostly busy and popular. Not sure about DD, but Spur should do well long term,

 

Happy to hold until Burger King becomes profitable, should be soon, share price will probably move up when this occurs.

At the recent AGM, Hussen Adams said the board turned down an offer of R5 per share


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#40 DividendTycoon

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Posted 03 January 2018 - 01:08 PM

At the current 2.30, GPL is now trading at a 32% discount to its cash generating gaming assets. Hussen Adams is loading up.

 

The staff at Dunkin' Doughnuts, Blue Route,  and  Burger King, Kenilworth, say business is good.

 

Any one else with access to these brands, please provide feed back here. 

My exposure to this share already high, but could not resist buying around the R2.30 level recently.

 

Unless we are all missing something, some fraud or other disaster, it is very cheap, as you say the gaming assets alone worth more than the market cap.

 

My experience with Burger King is that they are mostly busy and popular. Not sure about DD, but Spur should do well long term,

 

Happy to hold until Burger King becomes profitable, should be soon, share price will probably move up when this occurs.


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