Member Info for fairdealer20

These BBs are to enable the sharing of information, to voice opinions and put forward contrary views which are open to rational and reasoned debate. Readers can either accept or reject opinions, that is the nature of a Free-thinking debate.
Some obsessed posters believe they have a monopoly of reason and prophecy. When challenged act like a petulant child claiming the World and its mother is against them. I say they need to grow up and act in a manner appropriate to that of an experienced investor.
That said I have never filtered any Poster and never will

Gusto the wording of the RNS indicates " accrued interest was payed without penalty". The statement is ambigous particularly as values are not specified.
Language is facing both ways and should be clarified.

Provocation is all from you, Noel. Just read the number of posters who you deliberately cross swords with, or are they ALL wrong?
I gave you advice weeks ago, if you cannot take contary views and always believe in being right, then just keep quiet. Keep antagonising posters and you will get stick.
Take it or leave it.

Noel looking for another fight?
You have choose the right man. You know as much about investing as the man in the moon. Crawl back under that stone or go crying to mummy.

Banbury concur. Have been warning for sometime, Ordinary PI's are just cannon fodder.
Am still in but like most choosing my exit strategy.

Having just completed a Fund Raise, appointment of Cannacorda as Jnt Broker seems strange.
Any views???

Long term investors have had a bad deal? Since 2015 the SP has declined by over 75%. Even at the TO value, 105p, initial holders will have lost money on their initial capital outlay. OK they had the benefit of a generous dividend, but no more.
It comes back to some poor management decisions, Charles Wells deal, Brain's deal, panicked sale of pubs to Admiral, increased debt to fund these missions. The JV deal with Carlsberg was imo, forced upon the company who needed to reduce debt. It will not surprise me if Carlsberg take over the 40% share in CMBC, within the next year, because Marstons will require further funds .

As for EV charging, are we to believe Marstons will subsidise? Power costs are escalating, recharging sites are currently costing motorists the equivalent of Diesel transmission vehicles, around 17p/mile. Electricity may, may save the Planet but the effects on personal finance will increase exponentially, providing it can be generated.

We are coming into a World where the fittest will survive, not a pretty picture.

AIMO. Feel free to disagree.

Are you colour blind?

Initial reaction, comparison with 2019, pre covid and pre-Brains, does not indicate the contribution from the Leased Welsh estate. Unless the Brain's estate contribution was zero, the figures are not so good.

Fixing of energy costs (gas) is good, although Electricity is volatile and subject to rises outside of projections. It is not clear if the energy costs apply to all Properties, Managed and Leased?

Most businesses enjoyed a VAT payment holiday during Covid when Tax levied was reduced to 8% ( now back at 20%). It is interesting to see the Deffered tax of £50m more or less taken from the agreed consideration from Carlsberg, which was part of the Brewery deal. Had expected that receipt to be used to pay down debt. Even though slow long debt is being reduced, marginally. Will be interesting to see how debt will be reduced to under £1billion by the end of FY end 2024.

Drink sales have bucked the trend ( MAB reported an opposing experience on both Food and drink sales)

Further reflection on these figures is ongoing.

As always DYOR.

The NS has not been kind to I3e. Canada by contrast has/is providing the returns for our Divs. That alone should dictate where we go.

spike have you considered the Windfall tax Labour will impose on Oil Co's ? The choice facing the Electorate will be very unpalatable.

Complacency often leads to incompetence.

barchid, even though my knowledge of the brewing industry is good, my oilers are doing pretty well. At least here we get Dividends, monthly at that.

Black is worse than bleak. The economy, for most, is now on a precipice, under Starmer will be in a Chasm. Remember Denis Healey in the 70's, who had to go begging to the IMF

spike, afraid you are right. This what happens when a Government gets complacent having been in power 12 years. The future under Labour is black.

If anyone here attended yesterday, would be good to read a report?

muldoon, is it to be believed OF came in with a significant funding without having done due diligence,( knowing the value of the research, particularly with Merck onboard). Then within 1 year of the loan agreement pulled the plug The plug was pulled,imo, when OF discovered the BOD were in contravention of the loan agreement and were not impressed with the way the company was being managed.
OF may just want their money back, however the time Adminstrators are taking could be allowing negotiations to take place with the funder. Merck are no mugs, and neither is OF

Offer to qualifying PI's raised less than £1m and in total only £16m raised on the placing. GS states an excellent result, really when the BOD wanted to raise £17m.
The outcome may signify wisdom of those Shareholders who rejected the offer or pure disgust at the way PI's are treated.
The GM this morning could be an interesting event.

Exploration, could that be good news for Delt? Never rated Tullow and know little about New Med?

Death by a 1000 cuts. Administrators as always, are doing very nicely at £650/hr. IF 4D does get relisted, the lenders OF will want almost full control of the equity.

4th qtr report out today. In essence sales are marginally up on food sales, drink sales are flat,curiously the hot weather had the reverse effect to that normally expected with a good summer. Costs remain very challenging, energy costs are projected to double even with the welcomed announcement of the cap. MAB have £150m cash and further facility up to £160m. Costs are being controlled/reduced on a property by property basis.
The emphasis is hospitality are facing some exceptional headwinds over the next few months.

Weatherspoons are disposing of 32 city pubs., their SP is at a 10year low.

Marstons should announce quarterly report in the next 10 days.