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@ FD, Barchid & Yoyoma.
Thank you for your mind words. Much appreciated.
It's all part of our routine now so don't really think about it too much.
Like everything else, things can always be better, but things could also be much worse. We all have our hands to play in life. You have to play it the best that you can, the same as everyone else.
Seems to have settled, topped up ready for push up to 110 - best of luck all.
I second that also Trent, having spent a large amount of time on this board you get to know the regulars to a point where a virtual community forms. I do wish you the very best of British.
The very best to you Trent, most sincerely.
Jeez, not quite the opening I was expecting. However, price is moving all over the place.
Opportunists(Traders) will be talking up Hospitailty stocks today, to achieve a margin.
I reckon a high of 107 or 108. Possibly 110 or 111 if really lucky.
Obviously both depending on volume and sentiment
@FD. Thanks mate. It is what it is, and thats that. I don't mind it, you have it to do don't you.
Trent your devotion too family is highly commendable. I know how you were eager to re-invest dividends here. One hopes those days will return for as you say this company does provide an outlet for you.
I still believe as Daave only too well emphasises, the road to rebuilding a profitable balance sheet will take some time, remembering we only get 40% of the "Crown Jewels" which is and was the backbone of Marstons.
If it is of any use to anyone. I did some calculations for my pub and we have decided not to open as we anticipate an average of 20% or less revenue for the 5 week period and an increase of costs and overheads anywhere up to 3 times our normal overheads!
Other pubs are expecting drastically different numbers but I think we are all in agreement that there are going to be some absolutely awful days.
I'm not too concerned over short term movements in the SP.
I've said in the past that I only have a small holding in here, but I do like the company, so I'll be staying long term unless something dramatically negative occurs.
I started buying into shares before giving up work to become a full time carer for my son, so have not been in a position to add to any of my holdings, but no complaints there. You have to deal with the hand that you're delt, and that's that.
That said, my interests here and in Sgc give me something outside of that to think about. It's always nice to have some outside interests to think about.
Good luck to our company, and To my fellow holders going forward for prosperous times to come.
It is brilliant news that Hospitality outlets will be opening tomorrow. However unless you are a Trader and support the hype, from a purely Business angle, profits are going to be hard earned. Less than half the Brains Pubs are to re-open this week . 2 publicans who post here have doubts regarding viabilty and are not opening.
There may well be a sentimental increase in SP tomorrow, but be prepared for a retrace once the euphoria has subsided.
LTH will be looking towards the annual accounts in early October when the true effect on the Balance sheet will be revealed.
DYOR GLA
Agreed, I did a little last minute buying of these on Friday. A lot of pent up demand for meeting friends again at a pub.
Lots of positive sentiment in the Sunday papers around the hospitality sector re-opening tomorrow. The good weather forecast for the next 2 weeks coupled with the recent Berenberg upgrade bodes well for an eventful start to the week.
Just received e.mail from Brains listing 60 pubs to open up shortly.
I'd email them directly to ask. Get the answer direct from the horse's mouth.
I live in South Wales where we have more Brains than Marston pubs so does anyone know if we can use the card in brains pubs when they open for business.
They've raised their target price from 90p to £1.40!
Nice!!!
Apologies: price moves from 40 to 140!!!
From "hold" to "buy" but target remains 40p (!?!?!?!?!?!?)
Trent, you are right, we do not get something for nothing.
As stated there is as the extract from the Solicitation Memorandum states. As the Principle Class A Loans oustanding amount to £493m, 0.05% is charged on the Loan outstanding at each installment date. Further reading the Memorandum, the company will increase it's Liquidity Facility in order to maintain interest and loan repayments. It is projected this arrangment could be in place for up to almost 2years. In other words replacing 1 debt with another. Based on the Loan principle currently outstanding the Early Instruction Fee amounts to circa £250K
Early Instruction Fee The fee payable to Eligible Noteholders in an amount equal to
0.05 per cent. of the Principal Amount Outstanding of the Notes
for those Eligible Noteholders which deliver a valid Electronic
Voting Instruction in favour of or against the Extraordinary
Resolution which has been received by the Information and
Tabulation Agent at or prior to the Early Instruction Deadline
(and has not been validly withdrawn).
@ Barchid & FD.
The one thing that crossed my mind after this morning's RNS is what do they want for waiving those financial agreements. To my mind, they are going to want something for their patience.
Barchid,
I try to make a synopsis rather than some long winded diatribe which will only bore.
AS you say in essence the debt pile will grow in more ways than one, I have grave reservations about the venture with Brains.
As Daave and Leppington have just illustrated, being at the "coal-face", re-open is not going to be the panacea many expect. All we need is a spate of drink encouraged Holiganism and then be faced with another dose of draconian measures.
hi run a franchise of marston’s, i will not open even though i have a large outdoor area, simply not viable