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hendi check your lender. As I stated earlier have the offer of commercial loans from more than 2 sources all at less than 7%

The relative move of UJO's SP in comparison with EOG, should be studied. Seems strange???

Have just agreed a significant Loan for an opportunity which has risk given the current economic situation. That loan is secured against assets, at a rate just below 7%pa, 18 month term, repayment including interest at the end of term. This is a commercial loan. Is difficult to understand why EOG have approved a loan at 11% where interest is charged daily, instalments, in cash, payed quarterly. In essence the company will, once loan is drawn down, charged interest daily which will compound up to the Quarterly payment. A £1m loan will attract £300 per day interest which is added to the loan debt.
Does not seem sound to me, unless I am missing something?

EOG has a 25% interest in Serenity which requires a similiar contribution on drill costs. A Sidetrack is achievable for circa £4m. Do wonder why the sidetrack possibilty was not factored into the original Placing earlier this year.

Yanis that is a very fair point. Moreover a Loan from a cash rich partner, secured against asset, at a coupon rate of 11% seems extraordinary. Good for UJO, but is it so good for us?

Banbury it is a conundrum, hang on for a buy out or escape the inevitable fund raise. I remember the last fund raise which was excelerated because of a leak. On that occasion all existing SH's bar 1 were not allowed to take up any new shares.

If we get to 5p, there will be many who will not take the Funding route risk.

Had the same experience when the Privilege card was in use. From memory the discount only applied to food. Tenanted pubs seemed to apply the discount if they had signed up to the scheme.

Read the link posted again. It relates to February.

The platform is currently static.

Thanks Trent, I recall how you looked forward to the dividend which you re-invested. Happy days!!

Sentiment to a company is fine so long as it performs in a way shareholders accept and like. I disregard Traders from that statement as they are here today and gone tomorrow.
I wish you good fortune with your investments and hopefully confidence will be restored here which will bring you back.

In a Radio Interview this morning, Paul Davies, CEO of CMBC, stated the huge increase in Energy costs are impacting on basic materials, aluminium, glass, malt etc, which have doubled in price recently. Paul further states, unless significant help is provided many pubs and brewers will close this winter even though Landlords have had rent reductions.
Apart from raw material increases, Labour shortages and costs are adding to the problem as is the prospect of consumer's low level of disposable income.
Paul was representing the Brewing Industry who have sent an Open letter to Central Government, requesting help in the forthcoming emergency package of Financial help due to the Energy Crisis.

Many can quote experiences, it is the overall gloom that is settling over the whole sector. One very popular pub/eaterie in a well established location where there was a Ragatta yesterday was virtually empty, another not far away and in a similar location, had outside entertainment with a band. That pub was busy, today may be different.
Ignore reports form Barclaycard , the Brewers Association and other Hospitality organisations, if you wish. It is your money to invest, just consider the risks.
One swallow does not make a summer.

wako how does that include BTU?

longtime....have you forgot lockdown for virtually 2 years? I know only too well.

...also suspect those who have high disposable incomes will opt for 2 or more months in the sun. Ominously many of the Long haul filights in BUSINESS Class for October owards are sold out.

Noel you are digging yourself a deeper and deeper hole. Best take a few pills and retire to a dark room.

Noel your predictions are making a fool of you. You put a marker down as 3.2p.

Best put your keyboard away until the drill

Trent, it is a hard lesson. I hung on here until I realised there are better opportunities elsewhere. I sold the majority at a loss and just retained a handful basicallt in the hope the tide would turn at some point. However we have suffered blow after blow, much bad management decisions. Jed's prediction may not be as far away as he beleives.
The sector generally is in for a tsunami of issues, where even the strong are going to struggle.
Not sure the Gov will be able to do enough to ease the pain many are beginning to suffer. I certainly do'nt want my Grand-children saddled with numbers being quoted.
Barchid's experince in Chelsea is worrying. I was in a Pub close to Cambridge a month ago, it closed at 9.00pm. I asked the Landlord why. 2 reasons, customers tend to leave before 9,00 and it is not profitable to pay staff to just stand and stare. Christ the time was when drinkers were difficult to leave at 11.00pm. In mid summer and the weather we have enjoyed it is incredible to see and hear what is happening to the hospitality trade

For the last financial year (2021) the company disclosed assets valued at more or less £1.5 billion, a reduction of 100 million from the previous year. The methods of valuation are open to interogation. Some properties are valued on the basis of a mulitiplier of revenue. This can be a useful guide but only that as true value to a willing buyer could differ significantly. We have already seen the results of Ralph Findlay's sales where collections of pubs were sold below projected values.
Using the published values of £1.5billion and debt of £1.25B we are left with a net value of £250m. Given the shares in issue (634m) it gives around the current SP, so not much latitude for a would be buyer.

dannatt the bidder Platinum would have factored in payment of debt and then offering 105p/share to PI's

My earlier example just illustrates the numbers a bidder has to consider.. An estate valuation will ultimately determine what a predator is prepared to offer. Since the Platinum offer, almost 2 years ago, Marstons have sold redundant Properties, debt had increased slightly. The important factor being how have estate values changed.
Can anyone see a Buyer taking on a Retail business given the hurricane coming? A predator will be looking at stripping out, quickly, all saleable assets at a profit.
Mention of interest from Carlsberg is pure speculation and hope, Carlsberg are not known to want Pubs as they are predominantly Brewers.
IMO the Platinum offer was a good one which could have been increased, however we treated like mushrooms and given no opportunity to consider offers until after the event. RF's decision.

However good this news is, it is a virtual kick in the teeth for PI's as the technology will likely be acquired cheaply as part of disposals by the Administrators, who are laughing all the way to the Bank.