Member Info for fairdealer20

Fishboy well done on your PB success, very much doubt you will pick up more in the market at a lower price as your post indicates. GL though.

Seems we have another escapee from Billy Smart or a re-incarnate from Fred Karno's Troupe, who is practicing his skills before taking over a role as Donald Trump's speech writer.

If facts are confusing put forward a contrary but factual argument which can stand scrutiny. That way you are likely to get more respect, something which appears alien to your character, Triumph.

If they deliver the dividends projected, that alone will drive the SP much much further North

...Trader do'nt say you missed the opportunity this morning? Oh dear pile in now while there is stock available

Exploration,

Cannot pretend to understand the technical data except it seems Centrica very much under estimated the reserves/potential of Selene. Can only think as I remember Centrica were strapped for cash. So their mis-calculation is ours, and Shell's good fortune. Of course there are some who will not like the wait until 2022!

It is surprising the SP has not made a stronger move North, maybe becuase of his low profile GS is not promoting the company's potential strongly enough.?

How a vaccine is developed in 2 months is quite remarkable, our scientists are sceptical, but you Supercharger can have my Russian dose for free.
As for todays rise, no doubt down to the weather. As stated earlier Brokers will be looking to get the SP above 50p to make a Funding raise attractive.

Croz did you miss out on the Offer??

Longlad my bet is RBD had an incling and were both amateurish ,opportunistic and just eying our cash. The appearance of RBD holders here tells it's own story and now maybe they should turn their venom on their Execs, if only because they had not not properly lobbied the major holders of Delt before making a failed offer. Incompetence comes to mind.

As for this mornings news, it does reassure if only because Shell are actively involved when some had begun to think ( because of the Majors Global issues) they were withdrawing. That can now be seen as patently wrong for us.

AIMO

Wow Pinochio our 1400 pubs have grown!

Jim it is important that facts are confirmed and qualified against known comparitiors. For your source to say pre-covid could mean anytime at all before March, hence a comparable time period should be used.
It would be good if Marstons can give us some data on sales, wholesale and retail, for the period since Pubs re-opened.

So the data is somewhat ambigous as it is general and does not specify the time period under comparison, only say pre-covid which could mean January,February or March when demand is at it's lowest. A better comparison would be July/August 2019.

With eat out and help out scheme it will be very disappointing should the Honeystone not be busy.

Jim, on which portal is this data available?

Much depends on the level of take-up. If massively oversubscribed could be more than the higher prediction. On the other hand undersubscribed or just equal could give a small premium to offer price.

Those numbers will be very bad news for serious LTH. Funds are required, Institutions taking part in a Placing often off-load quickly in an organised manner. However that process tends too hold the SP in neutral territory for some time.

The BOD and Brokers are more likely to want the SP above 50p to make a Funding more attractive.

Peltata, cannot see a Fund raise below £250m.

We have no idea how Finances look currently. The lockdown and current uncertainties must be adding to the Company's debt.
Plus the tempoary facility is due to be repayed in Oct/Nov. The JV delay will be effecting the BOD's projections. The Company had planned to spend £90m this financial year on Capital works/Enhancements,
The BOD's future strategy is to focus on Operational Excellence within the retained Pub and Accomodation Business,plus Debt reduction and strong cash generation.
It is difficult to see how these plans can be achieved without significant Capital injection.

It would be good to get your and any other SH's views.

Barchid,

No doubt Peel Hunt will be crunching the numbers, establishing the Market's appetite to fund either a Placing, RI or combo of both, bearing in mind they and other Brokers will want to be reasonably sure they can get a Rights away before underwriting
A RI would need to be attractive to existing investors, possibly 2 for 1 at 10-15% discount.

AIMO

Fund raise to be a minimum of £250m and possibly as high as £500m. I consider a RI favours interests of Shareholders rather than a Placing. Even a combination of RI and Placing better than straight Placing.
What are other's informed opinions?

cafc, you must have a personal account number with HL. PB will then link with any allocation you are allowed.
If you have done the transaction online PB will confirm receipt of your payment.
Do'nt forget depending on level of applications, you may be scaled back and excess funds will be refunded.

Barchid

Very much agree. With the level of debt almost certain Lenders have robust conditions in place which given Old and very dubious Valuations, gives little room for manoeuvre. Also the agreement with Carlsberg ties Marston's hands if liquidation of assets were to be considered.
A Placing would not be in the interests of Shareholders, a RI is the only obvious solution which does not dilute, unless individual Holders do not take up their allocation.

barchid, I tend to think this is paving the way for a Fund Raise....No surprise to me.

Have been convinced for some time it will be the only way the BOD can deliver their plan for the retained Pubs/Motels.
Expect it towards Q4 or sooner depends on how current income is building and how RF intends to cover the temporary facility due for repayment in November