Are Investors to ignore the £24.5m valaution impairment highlighted by Christies who have conducted on site valuations in July? Christies are now commisioned to value 1/3 of the estate each year on a 3 year rolling basis. These valuations are correcting the inhouse desk top values previously in place during and shortly after Ralph Findlay's term in office. True values are now being undertaken, or are they to be dismissed in favour of the Accountants you favour?
No doubt the values were better in 2013!!!!
Loan costs are beginning to hurt. Interest swaps have created a loss of £20m before tax. This maybe a one off, however loan debt of £1.5b must be maintained. Total debt is recorded at £1.5B. Loan debt before Leasehold liabilities amounts to £1.15b, which is a decrease of £31m against 2022. The aim to acheive £1billion by 2026 presents a good if formidable target., but still too high for a company of this size.
Resuming dividends are a distant wish for those who came in at much higher SP.anyone who says "who cares" should remember those long suffering shareholders.
With a NAV more than 3x the existing SP, the time was when Asset strippers would be crawling all over this stock, but for some reason it has not happened.
The Directors are at least prepared for possible further economic torpor. Read their "Going Concern" statement .
Confusion reigns? SC's calendar is not only 10 years out of date, he believes the new CEO Justin Platt, is already at the helm. He begins on 10th January 2024, until then Chairman William Rucker is managing the Company.
Thank goodness SC is not in charge of PR ???
As always DYOR.
Whilst we have a CEO who treats this company as a Sole Trader would, is there anyway without a change of management.
In my time of dealing with Directors agreeable or not, this is the first time I have experienced such blatant arrogance towards Shareholders.
I would hope discussions are ongoing with our group's leaders to enable a profitable future for us all.
SC what are you talking about? Concentrate on the facts and not hypotheticals, which will only lose you money.
What Establishments are you referring too?
Do you need a lesson on Stock-brokers/ It seems you trust them with your cash or have the Free shares gone to your head?
You should consider investing in a New Abacus
Further ludicrous comments. When will rates come down.....next week, next month, sometime next year? We really need to know.
You have not disputed any of the fact presented. If the truth hurts so be it.
Suggest you tune into the CEO of City Pubs, who made a report on Radio 4 this morning. He is far from confident of Good festive trade. But do'nt beleive me, listen to an Exec who knows what he is talking about.
Enjoy your new found "riches"
SC you are a comedian in a time warp. You are right 10 years ago the company was enjoying growth and an SP at around 150p. Those were the days, now you must get upto date and try to keep abreast of the Governor's words, in full, not edited. By contrast the Americans were quick on the draw as they usually seem to be.
Be a good chap and read my words carefully, apart from numeracy problems you appear to be suffering optical distortions.
I make no bones about it, I have consistently critised the Old management, and have been proved right by recent events. Whereas you were a chief supporter of the Execs who have gotten MARS into the hole they occupy. As for the New Broom it is to be expected he works the oracle by building Shareholder value.
You must stop fooling yourself where the brewery is concerned, MARS are a junior partner with 30% holding, which in my opinion, is likely to decease with the arrival of the New CEO. It is entirely possible Stonegate, who are dynamic is their outlook, will eventually take control of the Marstons estate but not the Brain's "empire". . That was a huge mistake engineered by Ralph Findlay to help a mate, John Rhys, out of near liquidation of SA Brain
Listen to Andrew Bailey's dissitation earlier this week. NO reduction in rates anytime soon, he also has never seen the UK economy is such a poor state. Mind he is partially responsible. Don;t expect a friendly response from Funders. MARS has a poor track record having breached loan agreements twice. Many companys have hedged energy prices, MAB included, it is food and staffing costs that are hurting, hence margins being chopped, something I warned months ago.
The best result here is a TO. The brewery is controlled by Carlsberg who have a record of controlling partners. In our case they (Carlsberg) will determine who manages the Pub Estate.
Bad news coming? Judging by MAB results sales increases of 10% + are not off-setting large input increases. At least MAB have reduced debt by £20m. Lets see how MARS fairs?
The sudden departure of Andeas gives the clue.
Itsawap, could'nt agree more. The shenanhigans Directors are allowed to get away with is almost criminal. AIM co's are a feeding ground for many sharks who pretend to safeguard Shareholders funds. What nonsense when Directors award themselves eyewatering remunerations, when Share prices disolve.
The way PI's are being treated here, and elsewhere, demands stronger regulation, unlikely to happen under the current administration, who pride themselves on attracting new capital.
I beleive a Planning Application can be submitted without all required reports, which will be submitted later. The application can then be registered, giving the LPA the required timescale to determine. The Ecological report should not take long to prepare.
Back to nominee accounts, the rules of which being imposed here, are totally bizarre. Any BOD which uses such disgracefull tactics are not worthy of managing ANY company. Shareholders need to remember Corporate Notices are issued by Brokers to Bona Fide Shareholders ( in essence Owners of a Company) WH and Co are digging a deeper and deeper grave for themselves. Is it possible they could be barred from Directorships in the UK?
Is it appropriate to request Paper Certificates from the company's registrar? This could be an answer even though certificates could be delayed. Worth investigating?