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I think a deal will ultimately be done. It looks like the advisors to the smaller stakeholders want to play hard ball with Punch while the larger institutions seemed happy with the due diligence and info provided by Punch. Most likely just trying to justify what sounds like ridiculous fees.
Bondholders reject latest debt restructuring proposals - any thoughts?
Gloomy news in the press today. Also BIS committee sitting today to hear evidence re statutory code for pubcos. Punch are under pressure big time
tempted but will wait ,,,have a punch owned 200yds from my abode
yes agreed PUB is on my radar BIG TIME!!!!
Great update for PUB. Looks ever more likely a deal will be struck, and then a big recovery here.
Looks to be a good buy here, early in though, news in The Sunday Times could indicate a massive surge in SP. Article explains Punch Taverns bid to shake off their debt - http://www.thesundaytimes.co.uk/sto/business/Retail_and_leisure/article1271039.ece?CMP=OTH-gnws-standard-2013_06_09. Interesting little number here.
100K BUY above the ask. Really think people possibly getting wind of a good deal coming through and starting to invest here
Price consistently rising as we await news on the re-financing deal. Seems markets are confident they can strike a deal with stakeholders.
Market rumours suggest bad news maybe on its way
UP 5%. Nice to see when everything else is down. Re-financing news is on the cards very soon. Big swing up or down. Roll the dice and take your chances.
Deal must be sooooo close now. Could be anytime now.
PUB been moving up here the last few days as we get very close to financing deal.
Up 15% now. Big buys ready on Level 2. I think a deal is close now.
UP 10%. Is news coming on re-financing ??????
Moving up today. News on re-financing very close. Could see a big spike if they pull this one off.
will summer come and shine for once, its six years now since weve had a good summer which will help the pubs, i noticed driving around bank holiday monday sun was shinning people were drinking and eating away in the pub gardens,
Don't really understand what the proposal is. Can anyone throw any light on it? Thanks
Statutory code, if implemented, will seriously reduce revenues from the estate. Stakeholders must be concerned about this development
26M profit is a good sign. Talks progressing well. Can see this recovering nicely this year
V. Encouraging RNS Interim Results for the 28 weeks to 2 March 2013 Underlying financial performance(*) - in line with management expectations -- EBITDA of GBP117 million -- Profit before tax of GBP26 million -- Basic earnings per share of 3.0p -- GBP254 million of cash reserves -- On track to meet full year profit expectations Operational highlights(*) -- Improvement in core estate like-for-like net income** down 3.5% in the second quarter, compared to a decrease of 5.2% for the first quarter -- Core estate at 94% let, up from 91% at March 2012 -- Investment in 270 core pubs completed in the half year at an average spend of c.GBP100k per pub -- Punch Buying Club membership increased to 3,300 Partners (March 2012: 2,200)
Beer tax down, good news for PUB.
I guess being personally involved you no doubt have a vested interest more than myself for Pub to become a phoenix and rise from the ashes. I do feel it is more than likely that they will either form an agreement with the stakeholders as indicated, or they will become a likely target for a takeover attempt from another predator. They are profitable but are burdened with existing debt levels. However they reduced debt last year and of course have a large asset base. Reading between the lines the stakeholders most likely have little choice other than to support the re-structuring, otherwise they will lose their significant investment. Good luck to both of us and if I am right I will come to your pub and buy you a drink. All the best.