has anyone seen chopping block on itv recently, seems a lot of mr kipling adverts, could this be sponsored by Mr Kipling. If so, how much is being wasted on a crap product that is treated by consumers as own label
seems odd I know, they are supposed to declare within about a week but for whatever reason it doesn't always happen like that - same thing happened before Xmas when JP Morgan sold 5.75% of their shares in mid November and we didnt hear who bought them (Merrill as it happens) until 6 Dec.
I agree with smellyone on that note.........GD is up to something now. He didn't have enough time to get this pension deal / scam / ponzi or whatever out last year. McC was skeptical about the pension liability back then as well. This is one tiny good news that is very late so we need an offer ASAP.
For gods sake bristol you are talking nonsense !! How can this be anything other than positive!
An extra £32m in cash over the next few years - a pension deficit £100m lower than this time last year (circa 12p on the share price).
We can all have opinions on the trading and that is fair enough but to see this as anything other than good news is obtuse!
The pension fund quite reasonably said if you are earning oodles and oodles of money can you close the deficit a bit faster which-is more than reasonable and if we ever got to that stage all shareholders would be happy!!
As for a takeover this clearly improves the situation. Last year the result of this triannual valuation & deficit reduction plan was obviously unknown and potentially a risk and so a barrier to a buyer. The deficit is now clear, known and agreed with the funds and so risk is much less.
looks like the real reason why the pension payments were reduced is due to drop in profits.
"As part of these overall reductions, the Company has also agreed with the Premier Foods schemes a mechanism (including limited changes to the existing dividend matching agreement) to allow the schemes limited further cash contributions in the event the Company outperforms certain agreed profit targets"
so payments will increase if profits increase, so management still want to maintain a zombie status. Is this to help reduce the value for a future buyer such as nissin or Mitsubishi
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