RDC - Redcape Hotel Group

[System]

Redcape Hotel Group is an owner and operator of hotels (pubs). It operates 25 hotels in NSW and QLD, owning the freehold title to 23 of those venues. In addition, Redcape holds another freehold non-operating asset which generates rental income.

Redcape's hotels can be distinguished by a strong NSW gaming customer offer. A number of Redcape properties are listed among the highest ranking venues by EGM gaming revenue in NSW, including the El Cortez Hotel and the Eastwood Hotel, which are the 1st and 4th ranked hotels as at March 2017. Across the portfolio, Redcape has 730 EGMs, approximately half that of casino EGM's in NSW.

In addition to its gaming and on-premise businesses (alcohol and food consumed on-premise), Redcape operates an off-premise liquor business which includes drive-through outlets, walk-in bottleshops and a large format liquor store, all operating under the Liquor Stax brand

It is anticipated that RDC will list on the ASX on 30 November 2018.

https://www.redcape.com.au

 

[Ann]

This may be worth watching. S&P have just added it to the S&PASX 300 as at March 18th.
The chart is showing the daily Twiggs Money Flow as rising well but currently leveling. One has to ask will RedCape become a superhero or a fairy story?

 

[greggles]

Redcape Hotel Group plans to delist from the ASX after less than three years as a listed company due to a lack of broader institutional and retail investor support.

Prior to delisting, RDC is proposing to buy back its shares at a price of $1.15 per share from those shareholders looking to exit their investment, up to a total of $247.3 million.

This explains RDC's recent share price gains.

 

[Dona Ferentes]

the commentary that led me to this stock tells a tale. Listed equity is a hard grind, it would seem.

MA Financial (MAF) owns more than 44 per cent of listed pub group Redcape Hotel Group through its various funds, and wants to delist Redcape to turn it back into an unlisted fund. It will give investors three choices: retain their stake; sell out at $1.15 (a 22 per cent premium to Redcape previous close); or participate in a rights issue at the same price.

An independent committee of the Redcape board has backed the move, but MA will not be able to vote its stake and MAF co chief executives, Chris Wyke and Julian Biggins, stress they are not looking to force any hand.

 

[System]

On November 2nd 2021, Redcape Hotel Group (RDC) was removed from the ASX's Official List in accordance with Listing Rule 17.11, after security holders resolved to remove RDC from the Official List.