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17p to Buy i think from BARC, could be worth getting some
The RNS from 29th June.. V interesting, I used to work with him! Looks like Punch could give some good trading opportunities in the next few days..
you now own half here and half in spirit
After reading that, does anyone have any comments?
Monday 01 August, 2011Spirit pub co PLC Completion of Demerger RNS Number : 4628L Spirit Pub Company PLC 01 August 2011  1 August 2011 Spirit Pub Company plc Completion of Demerger Spirit Pub Company plc ("Spirit") is pleased to announce the completion of the demerger of the "Spirit" business from Punch Taverns plc ("Punch"). Accordingly, Spirit's ordinary shares (ticker "SPRT") were admitted earlier today to the premium section of the Official List and to trading on the London Stock Exchange's main market for listed securities. There will be 659,655,957 Spirit shares in issue. CREST accounts were credited with Spirit shares at 8.00 a.m. (BST) today. It is expected that Punch shareholders will be sent share certificates in respect of their holdings of Spirit shares by 16 August 2011. Enquiries: Spirit Pub Company plc Tel: 01283 498 402 John Grime, Company Secretary Brunswick Group LLP Tel: 020 7404 5959 Kate Holgate, Dominic McMullan, Natalia Marisova This announcement does not contain or constitute an offer for sale or the solicitation of an offer to purchase securities in any jurisdiction, including the United States. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration under the U.S. Securities Act or pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act. This information is provided by RNS The company news service from the London Stock Exchange
Monday 01 August, 2011Punch Taverns PLC Completion of Demerger RNS Number : 4627L Punch Taverns PLC 01 August 2011  1 August 2011 Punch Taverns plc Completion of Demerger Punch Taverns plc ("Punch") is pleased to announce the completion of the demerger of its "Spirit" business to Spirit Pub Company plc ("Spirit"). Accordingly, Spirit's ordinary shares (ticker "SPRT") were admitted earlier today to the premium section of the Official List and to trading on the London Stock Exchange's main market for listed securities. CREST accounts were credited with Spirit shares at 8.00 a.m. (BST) today. It is expected that Punch shareholders will be sent share certificates in respect of their holdings of Spirit shares by 16 August 2011. Enquiries: Punch Taverns plc Tel: 01283 502215 Ed Bashforth, Company Secretary Brunswick Group LLP Tel: 020 7404 5959 Mike Smith, Nina Coad, Alison Kay This announcement does not contain or constitute an offer for sale or the solicitation of an offer to purchase securities in any jurisdiction, including the United States. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration under the U.S. Securities Act or pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act. This information is provided by RNS The company news service from the London Stock Exchange
Why the 80% drop on this? i cant see any news
Any news on the EGM which was planned for today? SP would indicate bad news but not seen anything in the Press yet?
Just read his testimonial - Looks like an asset-stripper to me, suppose he needs to pay the £3.5Bn bill somehow
Ex-British Energy man to chair Punch Taverns Date: Wednesday 29 Jun 2011 LONDON (ShareCast) - The former finance boss of the nuclear energy group British Energy is to become the new chairman of Britain’s biggest pub group Punch Taverns after it spins off its managed pubs division. Stephen Billingham, who was finance of director of British Energy between 2004 and 2009, when it was taken over by French energy group EDF, replaces Peter Cawdron as chairman of Punch. Punch is planning to demerge Spirit at the end of summer, which will leave it as a tenanted pub operator. Tenanted pubs, which are run by landlords rather than managed centrally, have had a tough time in recent years, mainly due to tough economic conditions. “Stephen brings with him extensive financial turnaround, risk and operational experience, which will be valuable in his role overseeing the development of Punch,” said Punch chief executive Ian Dyson. “This is a business with a strong foundation, improving momentum and good long-term prospects,” said Billingham. At 10.30am, shares in Punch Taverns were up by 1% at 72.65p. ---
Punch Taverns http://bit.ly/jK9wnw
Broker Citi this morning unveiled its list of potential mid-cap winners that rather surprisingly includes the struggling pub group Punch Taverns (LON:PUB).
Wouldn't want to be out of PUB until kicking out time.
wouldnt want to be out of this over the weekend.
http://www.iii.co.uk/articles/15838/stock-watch-punch-taverns
http://www.morningadvertiser.co.uk/news.ma/article/90810?PagingData=Po_0~Ps_10~Psd_Asc Senior pubco executives were grilled on the need for a statutory code of practice to govern the pubco-tenant relationship at yesterday’s meeting of the All Party Parliamentary Save the Pub Group. Reform or Die is the call - Can they reform without the bottom line impact - I think not!! (IMHO)
Evolution has recommend a buy on Punch Taverns, target price cut to 100p from 160p
Matrix has kept its ‘hold’ rating and target price of 78p on Punch Taverns, despite the pub operator reporting third quarter figures ahead of expectations. The results for the 12 weeks to 28 May were better than expected (mainly in the managed pub division), according to Matrix, and should result in upgrades to consensus estimate of about 3%. The broker says that while shares should tick up on Wednesday after the results, the valuation of Punch is more dependent on the shape of the business post the demerger process, rather than on current trading. The group announced in March that it is to split itself in two by the end of the summer and sell many pubs, separating the Spirit managed pubs business from the struggling leased operation – Punch. “We value ‘new Punch’ at 0p and ‘new Spirit’ at 78p and in both cases these figures are very dependent on the disposal values achieved on very large parts of their respective non-core estates,” said analyst John Beaumont.
Sunny spring lifts Punch Taverns By Rory Gallivan Date: Wednesday 08 Jun 2011 LONDON (ShareCast) - The spell of unusually hot weather over spring had drinkers queuing up at Punch Taverns, helping Britain’s biggest pub operator to a sharp rise in sales in the 12 weeks to the end of May. In the managed division, which comprises the pubs that are run by the company itself, like-for-like sales were up by 7.3% from the same period the previous year, with food sales particularly strong. “Whilst good weather has undoubtedly helped trading, our focus on operational excellence and continued investment in the estate has again seen us outperform the market,” the company said. Like-for-like net income in pubs that are leased to landlords was down by -3.3%, a less severe fall than the 5.8% contraction over the 40 weeks to 28 May. Punch said it continues to make progress in its demerger, which will see the separation of the managed and leased business. “Despite the challenging UK consumer environment we are on track to meet our full year expectations,” said chief executive Ian Dyson.