the RNS is a positive.
Goldman Sach has increased the size of its holding.
They moved some of the shares they hold into long-term vesting instruments.
which means they have faith in the stock, and growing their position with the rise back up.
Joint Statement by Treasury, Federal Reserve, and FDIC
Washington, DC -- The following statement was released by Secretary of the Treasury Janet L. Yellen, Federal Reserve Board Chair Jerome H. Powell, and FDIC Chairman Martin J. Gruenberg:
Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth.
After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors. Depositors will have access to all of their money starting Monday, March 13. No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer.
We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority. All depositors of this institution will be made whole. As with the resolution of Silicon Valley Bank, no losses will be borne by the taxpayer.
Shareholders and certain unsecured debtholders will not be protected. Senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.
Finally, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors.
The U.S. banking system remains resilient and on a solid foundation, in large part due to reforms that were made after the financial crisis that ensured better safeguards for the banking industry. Those reforms combined with today's actions demonstrate our commitment to take the necessary steps to ensure that depositors' savings remain safe.
Last Update: March 12, 2023
https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312b.htm
Federal Reserve Board announces it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors
https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312a.htm
This is a great opportunity for the big banks and financial institutions to bail out the sector themselves.
As part of their license to service the financial markets as they do, there should be some commitment from them to provide low-cost low-interest loans to companies affected by SVB default to keep economies working.
SVB is a rotten apple, alot of people behind the scenes knew what was happening and taking money out fast, i sense Bank regulators in the US need to be tough:
"In January 2018, a spokesperson for the Federal Reserve Board chief of supervision said that existing banking sector regulations were too tough and standardized, and could be relaxed and customized in order to promote commercial bank lending, investment, and stock market trading.[citation needed] Randal Quarles, the Vice Chairman for Bank Supervision, said he was planning several imminent changes that Wall Street has wanted involving capital rules, proprietary trading, and a process known as “living wills” that aims to prevent taxpayer bailouts."
https://www.reuters.com/article/us-usa-fed-quarles/feds-quarles-details-steps-to-ease-rules-from-volcker-to-stress-tests-idUSKBN1F82B8
Silicon Valley Bank's failure and not being bailed out is a market correction mechanism.
SVB financed mainly the tech sector, companies that have yet to make a profit (aka start-ups, etc.).
Either SVB gets a buyer of their book, or there is an asset sell-off.
Other banks can take on the old SVB clients with low-interest loans as a way to drive the economy, put money back into the market, and provide businesses with a lifeline over 2023.
Asos is not linked to SVB, this gives them a market advantage against any competitors that are affected negatively.
yeah, Asos has no direct connection to SVB, and in fact, with SVB failing and rival online fashion companies in the crossfire, this makes Asos an even more attractive investment.
the collapse of SVB is good news for Asos, as this removes and slows competition from other online fashion retailers.
Asos is doing everything it can to reduce debt and move to profit and be less reliant on debt facilities.
there are 3 main fashion retailers in the UK, and these guys will be the main winners when the smoke clears:
Next (mid-age and safe clothing)
Marks and Spencer (old age and comfort)
Asos (youth, multiple brands, moves with the times, cash cow fashion demographics).
considering the Restaurant group has also just announced they are reducing sites shows that this is a sector situation.
facts are these are tough times, however as has been seen from sales data, its the very top end and cheap product and services being cut back by consumers, marstons are safe that they sit in the middle of the consumer spending axis.
Marstons are premium enough that people will buy them to show off, and cheap enough that every person can afford them.
Bullish for Marstons, now the fight back to fair value starts!
good to see the broker's recommendation of Buy from Short Capital.
Can expect a good report from CCR soon.
judging by 2022 report and the xmas trading reports they should be in a good position.
and we have the spring and summer alcohol sales to come.
catch the dip
platform formed, get ready for a massive rise.
Debt down, cash-generative business!
Dividend payments should be coming back soon.
Here we go! Summer is on the way, time for a massive re-rate.
Ran the numbers on this and CCR, (great find Karl), and both have tons of profit to be made with the price moving back to fair value.
Soon we should see the FY2023 Results and Capital Markets Day RNS.
Lots to look forward to:
Expect Net Debt to be down, and relatively clear, making the business cash generative.
Expect cash reserves to have been greatly increased.
New Growth in Australia, Europe, and USA with the re-opening of trade and end of covid restrictions.
Potential for a special dividend announcement to be made.
Debt cleared, circa 100m a year profit + brands + physical assets and sales channel / 393 shares = maybe £3 a share
DYOR GLA
this could be a good extra earner for the company.
Before the removal of the export tax, the market of UK Gin into Australia for 2021 was £21.3m
Down due to covid related factors.
With the tax removed, this opens the potential rate of growth more.
Alongside that the natural spring back in the market.
In the 2022 Annual Report, they signed a new distribution deal in Australia with Good Drinks Australia:
"In one of our core markets, Australia, we signed a new distribution agreement with Good Drinks Australia Ltd."
Source: https: // candcgroupplc .com /wp-content/uploads/2022/06/CC_AR_YE2022-1.pdf
"In 2021, the UK exported £21.3 million of gin to Australia. According to Statista, the gin market in Australia is expected to grow by a further 6.37% annually over the next three years."
Source: https:// www. gov.uk/ government/news/aussies-to-toast-tariff-free-british-gts-in-2023-under-new-trade-deal
some good buys at the end of Friday trading, looking at other leisure and entertainment there appears to be a platform formed with the sector making a move up into the summer months of the northern hemisphere.
good plan, looks like they will have a trade update within the next couple of weeks.
also based on the number they should have reduced the debt to very low levels.
Once the dividend starts again, and being a business with cash in the bank and no debt, this share could rise fast to the 300 regions
Great if UK Gov funded the making of a few new prisons.
Funding supports the construction sector.
Makes jobs for security services.
I would be happy if the tax we already paid funded safer UK streets.
Good find with this share.
The finances are looking good.
They managed to get the debt from 362.3m down to 191.3m in a year.
A reduction in debt from 2021 to 2022 of 171m (41%), as reported in May 2022.
From 2022 to 2023 they could have the debt down to 21m or less.
Would expect them to restart the dividend again soon.
At this price great to buy and hold.
Making similar revenue/profit with "normal" market conditions could be worth 380 a share, (155% rise from the current price).
DYOR GLA
indeed, looks like good consolidation of share price and platform formed.
Spring/Summer revenue season starting, the stockist will be buying from Carlsberg Marstons, and we now have many sunny weekends and bank holidays to look forward to as the first real post covid year.
would be fantastic if Platinum did an aggressive takeover.
As a holder I support Platinum taking over, and happy to vote for them for anything north of 70's.