Rank Group (RNK)

Sector:

Tourism and Leisure Services

Index:

FTSE Small Cap

71.00p
   
  • Change Today:
    -1.60p
  • 52 Week High: 103.40
  • 52 Week Low: 62.50
  • Currency: UK Pounds
  • Shares Issued: 468.43m
  • Volume: 111,852
  • Market Cap: £332.58m
  • RiskGrade: 325

Rank Group in talks over potential equity raise

By Michele Maatouk

Date: Thursday 05 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Mecca Bingo owner Rank Group confirmed on Thursday that it is in talks over a potential equity raise.
Responding to recent press speculation, the company said in a brief statement: "The board continuously reviews the group's financial position and confirms it is in discussions with its advisers regarding a potential equity issuance of up to a maximum of 19.9% of its issued share capital.

"Such an equity issuance would be intended to strengthen Rank's balance sheet in this unprecedented trading environment. There can be no certainty that the equity issuance will proceed."

Rank said a further update will provided if and as appropriate.

Bingo halls are among the venues forced to close during the first and second national lockdowns.

Shore Capital analyst Greg Johnson said that such an equity raise would extend the company's liquidity profile well into the second half of calendar 2021. "As operations reopen, we would expect cash burn to moderate (we expect it was back to breakeven in September before 10pm curfew restrictions were imposed)," he said.

"We believe Rank can return to pre-Covid levels by FY2023, which we estimate would equate to earnings approaching circa 20p per share post any equity raise. With excellent management and a burgeoning digital position, Rank appears well positioned to survive and then build."

He reiterated his 'buy' stance on the shares.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Rank Group Market Data

Currency UK Pounds
Share Price 71.00p
Change Today -1.60p
% Change -2.20 %
52 Week High 103.40
52 Week Low 62.50
Volume 111,852
Shares Issued 468.43m
Market Cap £332.58m
RiskGrade 325

Rank Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
1.91% above the market average1.91% above the market average1.91% above the market average1.91% above the market average1.91% above the market average
7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average
Price Trend
54.7% below the market average54.7% below the market average54.7% below the market average54.7% below the market average54.7% below the market average
57.14% below the sector average57.14% below the sector average57.14% below the sector average57.14% below the sector average57.14% below the sector average
Income
91.91% below the market average91.91% below the market average91.91% below the market average91.91% below the market average91.91% below the market average
80% below the sector average80% below the sector average80% below the sector average80% below the sector average80% below the sector average
Growth
50.07% below the market average50.07% below the market average50.07% below the market average50.07% below the market average50.07% below the market average
88.68% below the sector average88.68% below the sector average88.68% below the sector average88.68% below the sector average88.68% below the sector average

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Rank Group Dividends

  Latest Previous
  Interim Final
Ex-Div 13-Feb-20 19-Sep-19
Paid 13-Mar-20 29-Oct-19
Amount 2.80p 5.50p

Trades for 17-Jun-2024

Time Volume / Share Price
16:37 699 @ 71.00p
16:35 13,682 @ 71.00p
16:35 2,344 @ 71.00p
16:35 170 @ 71.00p
16:35 343 @ 71.00p

Rank Group Key Personnel

Chair Alex Thursby
CEO John O'Reilly

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