Ardent Leisure changing it's name? Maybe

[New display name]

Ardent Leisure Group has created 3 new business names.

Ardent has also applied to trademark the new names.

Is this Ardent Leisure morphing into another company or something else?

 

 

Maybe trying to shed some of the stink, tied to the Ardent name?

[DaptoFunlandGuy]

Didn't Ardent have a motion on the table to change their name in 2016, which got dropped post-TRRR?

[New display name]

New business names, a sudden desire for daily share buy backs.

What is Ardent planning?

[themagician]

@New display name what does that mean?

[New display name]

I don't know why Ardent have a sudden interest in buying back shares but it normally means the company is trying to push up the share price.

[themagician]

So are they maybe buying back shares, rebranding and then selling?

[DaptoFunlandGuy]

A buyback is typically an indication that the company thinks the share price is too low for the value of the stock. In a buy-back, they are actually removing stock from the 'pool' - so the shares aren't increasing an ownership stake of the board of directors, they simply cease to exist - making the shareholding pool smaller, which does increase the value of each share and the resulting dividends as a result.

Why are they doing it? I have no idea.

[New display name]

The share price has been on life support for ages, so why now?

[DaptoFunlandGuy]

Perhaps - and i'm only spitballing here - they feel that the value of the company has finally lifted (or is about to, following Flyer, Dreamland, and soon Rivertown), and the shareprice hasn't yet responded to that value lift, so capitalising on it now is a sound decision?

 

[STRAWS]

3 hours ago, DaptoFunlandGuy said:

Perhaps - and i'm only spitballing here - they feel that the value of the company has finally lifted (or is about to, following Flyer, Dreamland, and soon Rivertown), and the shareprice hasn't yet responded to that value lift, so capitalising on it now is a sound decision?

 

I have a feeling Ardent is getting ready to sell the park after its expansions are finished. Personally I'm worried  if it does happen new management is going to ruin the park like what's been happening at MW.

Edited October 16, 2023 by STRAWS
grammar mistakes

[DaptoFunlandGuy]

We know the former CEO had a bonus clause that would be activated when the park\property\business was sold, so the boards intention (at least at that time) was to sell.

Whether that has changed, we don't know. 

[westical]

On 16/10/2023 at 8:08 AM, New display name said:

The share price has been on life support for ages, so why now?

Because they’re cashed up after selling Main Event. 

[Prequel]

If Ardent sell the park, what does their company even do.

[Tricoart]

9 minutes ago, Prequel said:

If Ardent sell the park, what does their company even do.

Skypoint, but even then that’s a maybe. Reckon it’s more likely they’d just be dissolved into whoever wanted DW.

Edited October 17, 2023 by Tricoart

[Levram__]

This topic was one of the items for approval during Ardent's AGM yesterday.  

Resolution 4 – Approve the Change of Company Name

Background

In accordance with section 157(1) of the Corporations Act, a Company wishing to change its name requires the approval by special resolution of its shareholders to adopt the new name. It is proposed that shareholders approve the change of the Company name from “Ardent Leisure Group Limited” to “Coast Entertainment Holdings Limited” and amend the Constitution accordingly to reflect the name change in accordance with section 136(2) of the Corporations Act.

Shareholders will recall that, following the disposal of the Group’s health club business in 2016, the Company sought shareholders’ approval to change the Company name to Main Event Entertainment Group Limited to better reflect its focus on that US based business at the time. Shareholders voted unanimously in favour of the name change at the 2016 AGM however, due to circumstances existing at that time and following, the Company chose not to implement the name change.

Since late 2016 the Group has disposed of its Australian bowling and entertainment business, undertaken a destapling and corporate restructure and last year disposed of the US Main Event Entertainment business. With the Group’s focus now firmly on its Australian Theme Parks and Attractions businesses, the Board and management believe that it is timely to now implement a name change at the holding company level.

If approved by shareholders, the change of name will take effect when the Australian Securities and Investment Commission (ASIC) amends the Company’s registration with the new name. The Company has reserved the new name with ASIC. The Company has also requested that the ASX ticker code be changed from “ALG” to “CEH” after the change of name is effective. This new ticker code “CEH” has been reserved by the Company.

Recommendation

The Directors unanimously recommend that Shareholders vote in favour of Resolution 4 to approve the change of Company name and amend the Constitution to reflect the name change.