Good morning, it’s Paul here with Friday’s SCVR. Today’s report is now finished. Jack has written up this section, thanks Jack! Hollywood Bowl (LON:BOWL) Share price: 157.5pNo. shares: 150.0mMarket cap: £214.5m Proposed placing to raise £10.9m Hollywood Bowl (LON:BOWL) has reported that it is raising £10.9m at 145p per share via an accelerated book-building process. The group says “had traded well in the five months to 29 February 2020 ahead of the prior year period” but now, of course, units are closed, the company “has implemented extensive cost saving initiatives”, and the H1 dividend payment has been scrapped. The impressive news is that “as a result of these extensive cost saving initiatives, non-employee overheads (excluding property costs) are expected to reduce from approximately £1.1m to approximately £0.1m per month whilst centres remain closed.” That really isn’t a lot so perhaps bowling alley operators like BOWL and TEG can hibernate quite effectively? The group says: As a result of these extensive cost saving initiatives, non-employee overheads (excluding property costs) are expected to reduce from approximately £1.1 million to approximately £0.1 million per month whilst centres remain closed. The Group expects a…
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