Member Info for fairdealer20

Mike don't hold your breathe on that one.

We already know how events have focused Shell's mind on evrything ...we are just a small fraction of what is on thier agenda.

Aero don't be fooled by all the positive headlines. As already stated many times and again now, restitution of profits distribution is a very long way off.

The Company has to re-build it's Balance sheet, be confident Debt reduction can be maintained, see how the JV works (in a Positive way). All of this against the background events and damage done by COVID, which are not yet known. The Board will be wise to act with caution and not pay a Dividend, as was happening 2/3 years ago , where debt reduction should have a higher priority.

Aero you would do well to fully research the company's corporate history. That would be an invaluable exercise.

Mike suspect announcement of Licence awards due Q3, is going to be the next positive news.

Whatever is touted the RBD offer was an insult not even being cash but shares for shares..
The oil /energy market is/has been in a state of chnage for a while. Oil is rapidly becoming the dirty word Coal was.
Gas is not in the same league, as Exploration as stated for some time.

feeling.......when do you believe Delt will need more cash to keep the lights on?
At what stage do you know SHELL are at with the Hydrogen project? Undertstand Bacton terminal has just undergone a major upgrade and further cross-country pipelines are being installed through this summer. Do you think provision is in hand to ensure the UK has continuity of supply (Gas) in the event of interuptions from Eastern Europe?

feelin.......seems you think the RBD offer is generous? They are basically offering shares for shares, NOT cash, which on the numbers quoted value DELT at the Cash at Bank only, nothing else. Good deal is on RBD side not ours. Just look at the UJO board and apart from posters there regarding Delt as stupid, thier cash reserves are less than £5m and they need too start drilling West Newton imminently.
Were RBD to have pitched a more realistic offer of double that already put forward, there would be a better prospect of success, but not at the derisory level stated.

Marstons are in a JV with Carlsberg "UK", The deal is yet to complete...expected September/October

barchid agree and add if Tenanted could either be a Freehouse where the tenant leases from Corporate Landlord who is only interested getting the Rent pften related to a minimum Barrelage. On the other hand it could be a Marstons property. The telltale sign would be Marstons name on the external signage, pershaps just... could provide further information, even a more precise location???

Co-incidentally just recieved (12.00) a mail from Marstons thank ing me for my patronage and offering 20% off my next visit ( already get 20% on the Privilege card) doubt that will mean 40% for a shareholder!!!
Considering the Hotel was limiting personal contact there was no provision for feedback even the online message today has not asked.
The Independant Inn sent a me a satisfaction questionaire immediately ( I only left Friday morning and was in my inbox last night)
Fiona I will write direct as I have done before. Just hope some action is taken otherwise knowing how social media works, the company's reputation is going to suffer.

By the way I am not on FB, Twitter etc, they are a cess pit ( sorry to all reasonable subscribers)

Good morning Barchid arrived home late last night after a marathon trip.
Stayed at 2 pub/hotels so got a comparitor between private operated and corporate(Marstons)
As usual Marstons accomodation clock is separate to the pub and resturant. A relatively modern complex where they have strict protocols to prevent CV19. It was clear the Hotel and Pub were operation on a skeleton staff ( the same member of staff was moving between the Pub and Hotel). This is fine as costs must be controlled, it did not impact on comfort, but one did detect the member of staff was kept very fit.
The pub was not over busy even though in a good location. I would say there were less than 10 patrons in the pub/Restaurant, 20-25% of customers. The Accomodation block was 30-40% occupied.
The Hotel is tidy and clean and ample parking.
THERE IS ONE BIG NEGATIVE, ON MARSTONS BOOKING SITE BREAKFAST IS STATED AS AVAILABLE , FULL ENGLISH, CONTINENTAL OR A COMBINATION OF BOTH.
I wished a Breakfast however when checking in was told NO we cannot do. It was late and I did not remonstrate with the member of staff.
This IMO is very poor and no doubt other visitors would feel very agrieved.

Pub/Hotel 2 on the Welsh Board , which is independant, provided breakfast as required. They have a timing arrangement to make sure a limited number are in the Restaurant at one time. This hotel was CHEAPER ( breakfast included) than Marstons. This was not the issue, the fact Marstons did not keep to that advertised on the website, was to me a serious negative.

If the company does not deliver what is promised it will have a detrimental effect on Foot-fall. Bad news can travel fast.

Have just picked up this Offer/Takeover. Some points which come to mind.

The Offer barely covers Deltic's cash at bank,
Is MS and others who subscribed to large chunks of the placing in June 2019 at 1.75p likely to accept? I certainly would not.
How will this deal reflect in the generous Share Options agreed for GS and Co? I seem to recall some clause which enables the CEO to recieve a calculated apportionment in the event of a Take Over. Correct me if wrong?

This offer imo, does not reflect the true value of Deltic considering SHELL are involved.

This is not a good offer. Prove me wrong ?

barchid could put more " flesh on the bones" but am endeavouring to encourage serious investors to do proper research, maybe a lost cause as demonstrated by the abysmal turnout for the JV Vote.

Am currently staying at a Marstons Motel,,,,will report the experience later

Posters should consider these facts.
Debt as at 30th September 2019.....c £1.3billion
JV receipt ( Q3).............................,,,,£237m
Debt repayment due 2023.................£350m
JV agreement provides MARS with a proportionate lower share of profits which will be lower than current. There needs to be a 22% increase in joint consolidated profits for Marstons to mark time with current (2019) profits.

Until the BOD announce level of foot fall since re-opening there can be no knowing how Sales are recovering. Anything else is pure speculation.
Others in the sector are prepared for a significant decline in customer traffic. Whitbread who have raised £1billion in a Rights have openly stated sales will remain low for some considerable time. Whitbread's Rights have allowed them to pick up Travelodge who are severely distressed.
The company will require funds to bring back Capital and Enhancement projects cancelled last Summer.
Others in the sector are/have raised funds to support Balance Sheets.

It would be wise for the company to raise funds through a Rights issue before the Annual Accounts are issued in November.

AIMO DYOR

Anyone thinking to Short a stock needs to think again. Shorting is only for the very experienced who come unstuck sometimes.
You need to establish a sound relationship with a Broker who will require enough deposit to cover a potential exposure.
Shorting is often done successfully by large Investment Institutions, Black Rock is well known in the area, who have the clout to borrow shares often from other Investment organisations, Brokers included.. High Net Worth investors are usually required to make a free-cash declaration.

Not many Investors realise shares held in Trust by Brokers as opposed to Hard copy Certificates, are capable of being lent without the Holders knowledge. There are ways to prevent this practice.

People who are nervous are doing themselves and their family no good what so ever. Their views can often become obsessive and unrational, never a good frame of mind to make informed decisions which affect wealth. Once a decision is made stick by it and not ponder, if this if that. As for Warren Buffett who makes decisions without pondering. So yes I am telling you these Gurus do not lose sleep over decisions they have or are about too make.
As for ridiculous, lets leave that for other experienced investors to decide.
The very fact you RT, have chosen to react in such a way indicates someone unable to cope with the up's and down's the market can throw our way.
Take a few more valium it will calm your nerves.

"This thread was designed very generously to settle nerves and we could do without the same old iteration from the dynamic duo here."
There is now a mind-reader in our midst! Quite an amusing statement which on the face of it seeks to obscure the financial background that is Marstons.
Looking through rose-tinted glasses may lead in-experienced investors to lose money. After all what is the market used for? .......the transfer of money from one investor to another. Work out who wins and who loses!!

The growth of newbies on many of these boards, since lockdown is quite noticeable. They should be very careful this market has become a casino where the "Poker-players" try to be clever until rumbled, then they vanish to another board and victims.
Anyone who is/has been nervious, should not be investing especially in a Market like this one

Before investing, all newbies should read up on the basics of investing on the Stockmarket, it will save a lot of embarrassment , financial hardship and stop sleepless nights.

CMBC board comprises 2 execs from Marstons and 3 from Carlsberg. There are dispute protocols, Carlsberg's history should be researched! The nominated Board members of CMBC will recieve remunerations which are yet to be disclosed. Any disposal of dividends is to be payed under agreed terms. not forgetting costs relating to the consolidation of the various Brewing businesses and distribution centres. The JV predicts savings of £20m in year 3 by which time and using historic sales productions, the combined sales from the brewing business will need to increase by 22% for Marstons to stand still.
The asumption being annual sales will increase by 7+% which has never been achieved in recent times.
If Marstons wish to further pay down debt ( £350m is due repayment in 2023) hands are tied to some degree as they will be in breach of the JV agreement IF more than 50% of the estate is Sold.
It can be argued RF was rushed into a deal after the failure of the Pitcher and Piano sale and transferring a tranche of PUbs to Admiral at a significant discount. These deals or failures encouraged a swift deal with Carlsberg to enable the Group to achieve debt reduction promised especially with COVID 19 on the horizon.
Make no mistake Carlsberg Execs are no mugs!!!

Whilst Pubs/Eateries have to comply with social distancing rules, a cloud hangs over the Profit and Loss account of most hospitality businesses. Add the fear amongst customers and potential 2nd spike of the Virus, the pain for investors will continue.
Current circumstances have never been experienced even during WW2.

as Ray infers it is a code between mms.

mint adding to Barchid's contribution, money coming from Carlsberg will pay down debt which at the end of the last financial year came to c. £1.3billion. We do not know how debt has increased/decreased during the last 6 months.
If you believe the reciept from Carlsberg will add to the NAV, think again as we do not know how commercial property values have been effected by current events. This is not unique to Marstons but to every company within the hospitality sector.

AIMO DYOR

mint where is the £250m cash you mention?