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Young's non voting shares (YNGN) are entitled to the same divided as YNGA. Voting rights are the only difference,
otherwise the two sets of shareholders have to be treated equally.
You pay a huge premium for YNGA - and to my mind an unjustified one.
YNGN the one to Buy in my view
All the money, Made plough Back the The profits to make the group more valuable to someone like Young is a turn key pub group Ready to go, Tom Watson was not looking to make a profit selling beer but selling pubs
Apologies for the typos.
Strip out the vast majority if HQ costs, including their listing costs and executive director salaries.
Then you have the benefit of Young's greater buying powet
applied to the new pubs turnover.
This should be a nicely accretive acquisition.
What profits were City Pubs Group making? ...next to none
Young's knows how to run profitable pubs.
Long standing shareholder. Absolutely love this company and their entire ethos. However...slightly disturbing: good mate of mine (from one of the professions) is a BIG fan of one the old City Pub outlets in West London (dont want to be too specific and risk getting him in any bother). He's taken me there a few times and it was rammed to the rafters with well-heeled punters every time - amazing place. Massive cash cow. BUT he has been told Young's have got rather "heavy-handed" with the manager who was apparently the bloke you has successfully turned it around over the last few years and all the regulars love 'im. I have no problem with deep cuts into the City Pub duplicated central overheads/board, of course and that was very transparently flagged at the time of the take over, but (statement of the obvious) the managers at these rather quirky but very profitable niche London pubs are absolutely key to success! Am hoping sense prevails and that this is just a short term "teething" issue (not uncommon of course). We spent £162m on 50 pubs - we need them all performing to the max and if it aint broke dont fix it....! Also saw in the press today that Heineken are re-opening 62 pubs - a VERY bullish statement for the sector.
I think sentiment will change when the figures for all the new pubs and the improvement on the old pubs I can see 1400
I’ve just Purchased about 60 newly fitted pubs ready to go profitable from day one they only have good pubs in good areas. The assets are worth more than the shares. I can’t see anything to worry about literally a safe houses.
...all time low..
Have you looked at the longer term YNGN share price chart?.
Thank you cranmore8. good to know the reason is not something more worrying.
City Pub share owners selling the free shares
Is to blame Try to buy the bottom
Nothing but positive news coming from the company in recent months, yet the sp in freefall, especially N/V shares. Indeed at an all time low in the last 5 years. Anyone know what bad news is due to explain the pitiful sp ?
I have a few from the CPC takeover. Seem not to be rising but doing the opposite! Its wait and see time,
...in 2023 Accounts virtually DOUBLE present SP!! When this bid is finally concluded, I could do
worse than increase my holding here by the cash I receive for my CPC shares.
Recent results from brewers have been strong…it seems we Brits still like to visit the pub….and increasingly that involves food and other services.
The old fashioned boozers may become less productive as Gen z and Millenials dont drink as much….but closures are a property redevelopment play, so not much to worry about….
OBNW, I agree often a redevelopment play…..*Greene King was acquired by. CK Asset a HK based property company in 2019 pre-CoVid….have to think they are less interested in selling beer than rental and development income.
I hold the Non-voting YNGN shares….they get the same dividends and have the same rights in an offer situation but trade at a significant discount to the A shares,,,,,I am hoping they will do what Schroeder’s did and convert to a single class….there has been a significant divergence in SP this last year with gains going to A shares only….so there is the potential for a catch up in the N s too in the short term…..if you want a better yield invest in the Non Voting shares.
I’m also new to this, just thinking when Youngs carry out their due diligence, will this purchase go ahead.
Just not sure how they have valued the pub estate of CPC.
Hi Jatw. {'m new here. and will have some via takeover of cpc.I see The Times recently gave them a Hold and the recent high is nearly double the SP. I am not too excited about prospects of pubs generally but the larger and well situated ones are almost a property play in view of the number of shops closing so there may be a bit of mileage there medium term.
Seems to be gearing the balance sheet up…£40m of new shares issued and £120m of cash going out of the combined businesses…..debt to EDBITDA metric going up
Agree, IF the dividend keeps coming !
My Strong Buy is for the YNGN shares rather than YNGA.
YNGN looks more attractively priced to me and qualify for
exactly the same dividends.
on sky news...in the next hour
https://www.proactiveinvestors.co.uk/companies/news/982728/young-s-co-brewery-firmly-back-in-business-982728.html
Buy back in now. You will get your money back with interest, if you are prepared to wait ayear or two.
I like the longevity of this company . With so many U.K. persons having been vaccinated and infections and deaths going down accordingly I think Boris’s dates re opening up will be confirmed .At the first stage of pub patios and gardens opening up I will be there for the company even if it is raining ! I will continue buying when I receive dividends from other companies .