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The reality is Majors are increasing renewables at a phenominal rate, leaving existing fields to smaller producers'

The World may be slow towards embracing "green energy", but the UK is leading the way. Just look at the the growth of solar and wind farms.
It is an illusion to believe it cannot happen here.

Then you will start subtly ramping

When the company is just waiting for Shell to act, it is difficult to understand what our Execs are doing. Doubt they feel guilty at the end of each month!
The way the energy market is evolving, every possiblity DELT will be left out in the dark unless someone pulls their fingerout

Londoner, YoYoMa, everyone,

Have commented a few times regarding the rejection of the Platinum offer. Shareholders have aright to be agrieved as we were not informed of the 2 offers in December from Platinum. I still believe Platinum's last offer would have been increased had RF and Co shown interest. However, and I have made the point before, the Brain's deal was done done with such undue haste it displayed desparation on part of Brains and an attitude of comardadie that existed between the Execs of both company's. Platinum were given a very clear message by our BOD when the transaction with Brains occured. Platinum were only interested in Marston's assets not the worthless assets of another Pub Group. Remember Marston are only managing the Brain's estate, Brain's retain the freehold of all of their Pubs.
There are huge funds floating across the Atlantic, just look at the Morrison's situation.

As far as Marstons selling off pubs, they are part of a JV which restricts how many can be sold.

Londoner as far as taking action against the BOD, forget it. It would be surprising if Major Shareholders have not already made their views known. The BOD would have Corporate Indemnity, so unless agrieved shareholders have bottomless pockets to employ Top QC's , the exercise would be futile

AIMO

Just returned from another Business Trip, this time to Eastern England. Stayed at a different Marston's Motel.
The arrival greeting was not the best. Room presentation and cleanlyness was good . Refreshment provisions was meagre ( 2 tea bags, 2 Coffee sachets etc) Premier in my experience leave 4 of everything for double rooms. Was 1st in for Breakfast ( 7.00am) ordered immediately, 2nd Patron arrived in resturuant 5minutes later, ordered same breakfast as me, was served and almost consumed meal before my Full English arrived. At this time, a person, apparently the Manager, was observed to be constantly on the phone. The outside area was well furnished with many tables and seats. Umbrellas shading tables carried a competitor's logo, Heineken. This may be a trivial point to some, but in my opinion is this ending a subliminal message to customers?
An overarching issue which has annoyed me, is having stayed at different Marston locations over the last month or so, this motel is the first to have issued me with a " Free Breakfast" card ( 5 breakfasts and 6th is Free). I asked the waitress if this provision is Universal throughout Marston's Group. Yes was the answer. Clearly not Universal , the Company will be hearing from me. The standard of service is not consistent and one does wonder who is responsible for monitoring? IMO we are a way off providing Facilities of Excellence promised last Autumn.

In general terms and to confirm what barchid has observed, at other venues, the Marston's facility was less than at half capacity both in the pub and motel. Considering it was a hot and sunny Friday evening, footfall was mediocre. Travelling around it is very noticeable how many Pubs are boarded-up and every sign Landlord's have abandoned ship. Some may say this is good for those remaining open, a fair point, however my experience as mentioned does not confirm that belief. One suspects there is a high reluctance on the part of Drinkers to visit Pubs, because of the impact Covid is having on the individual's fears, and they will rather socialise in gardens with friends having bought food and drink from supermarkets. We all know supermarkets sell at considerable discounts leaving suppliers with minimal margins.

Trent, as regards your experience, where you have been very generous with opinions of others, you will have seen and I am sure learnt, that spirit of generousity is wasted and anyone whose opinions and behaviour is so changeable as to question their mental capacity to escape fantasy. Best ignored.

AIMO

Tony, we whave to agree to disagree.

Any compararitor with a property transaction, is valid except indications of funding can be gained in principle, within 24 hours.
Not wishing to re-open the debate, but the fund raise could have been underwritten giving ALL Investors a fair and reasonable opportunity to apply.

PI's who are Voting should check with their Broker who controls the nominee account. Have had a very interesting conversation with II who have changed notifications of corporate actions. Corporate actions team at II wanted send me a hard copy voting form...No good as the delay could mean my votes would miss the deadline. After some debate the Corporate action team agreed to forward my votes direct and copy me electronically.

It is sinking even more than I had expected. The Euro Cup Euphoria was short lived

As recent events have shown, giving the BOD a right to create a further350 million shares within the next 12 months, only favours II's . Am not convinced PI's will be given an opportunity, within a reasonable timeframe, to acquire further issued shares.
Any suggestion, the BOD need to act swiftly is open to debate as the current acquistion , announced 3 weeks before formal approval by the SH's, shows

Hope those with Blind faith are not eating their words in another 6 months.

AIMO

Vote or not too Vote that is SH's perogative, but do not complain afterwards.

Propositions 1 & 2 are a given even though some PI's have strong feelings, the die is cast. As only 50% is required, Bybrook, Miton and Co will ensure these are passed.

Proposiitions 3-5 require 75% to pass. These are resolutions where Ordinary PI's can flex their muscles given the voting requirement.

As well debated ( over debated) giving the BOB the ability to create more shares sets a president and would further weaken the voice of ordinary PI's , giving greater strength to II's.
IMO giving further power, at this time, to create more shares must be rejected. I am voting against.

I will Vote in favour of Resolution 5 ( share buy back) even though basic details of buy back valuation is not defined.

Many PI's will have shares held in Nominee accounts and should immediately contact their Brokers.

barchid interesting, is it concievable Ralph will throw one final dice and acquire these Pubs?

Initially the market does not appear impressed by anticipated beer sales this last weekend!!!

Has anyone viewed the Cenovus (CVE) share information on TSX?

Tony.
Thanks for the gracious clarification. I have no desire to cross-swords with anyone until inappropriate comments are posted. Until a few days ago I have posted here infrequently, the actions of management did raise my angst and like others needed to vent my views. Realised some, like GGG, were getting up a few poster's noses, I can understand where GGG was coming from and have a certain sympathy with his view, right or wrong.
As an Investor of many years I endeavour to keep abreast with reports/events associated with company's in whom I invest. RNS's are important and often provide vital information, occasionaly ( rarely) Regulatory News do not appear on these boards . Here the option statements posted in January were published after the event and no provision at that time for Shareholder approval. The April RNS only gave details of option take-ups. Unless well buried the admission document last summer seems unclear regarding any option arrangements. There was mention later of arrangements in respect of staff transferring to the Canadian entity..
Without being boring, my point was an Option scheme should set targets which are achievable ,not too easy and present a fair and reasonable outcome for Staff and Shareholders alike. I do believe, and am open to be shot down, a scheme linked more towards a level of SP before an agreed option can be exercised. For instance options could be exercised at say 11p once the Market price had reached say 20p for a period of time. The thinking being the market will have determined that valued targets had been met.
IMO the current scheme sets targets which may or not add value to the SP, however should further placings/fund raises occur the SP could be held back even though option targets have been artificially achieved.
I firmly believe in incentives that deliver benefits to both Shareholders and staff, am not sure this scheme will deliver as many expect. Hope I am wrong.

Tony with respect how would you or anyone know if a shareholder had disapproved the option proposal? You have assumed because the question has been raised, and yes it is a fatuous remark which is only arguementitive to say otherwise.
Lectures on attention are out of order.
Some of us do read and are not glued to a computer. Sadly relying on suppliers ( Brokers) appears to have been forgot.
Respect costs nothing. Disrespect only signifies a level of arrogance best buried.

Tony only approved by me by default. Like most shareholders we no longer get direct comms from Companies. As you may know, Documents needing attention go straight to a trust account with Brokers. If the Broker is efficient they will advise account holders by email. I rarely get such notifications, so it is incorrect to say "approved by you". It is a fatuous statement as some may have objected and who would know!

The level of exercise is the Placing price. I am not aware the price was set in the earlier option document.
IMO incentive rewards are set at a level above an existing SP. That way PI's get comfort and achievers have a target.

Oakey on that basis owners of a Company are not entitled to voice an opinion let alone demand answers?

Incentive would be to set the exercise price above the current SP. That would at least give PI's some restored confidence

Yep that was my view weeks ago. If it continues the downwards trend the market knows MARS have some serious problems, and are not impressed by recent appointments.
The current trend may present some buying opportunites for the brave.

oscillate

Amirkat, the SP will isolate in the 90's for a while. Once annual figures are known the World will know how MARS have come through this pandemic. The firvent euphoria regarding current sales is fine and suits traders. LTH's are looking to see organic growth and a significant diminution of debt.

Do not forget your parachute unless you want to leave a nasty mess on the sands of Beachy Head!!

AIMO. DYOR

GGG, your view is palpable, much I am inclined to agree.
However brilliant the deal turns out, our share of the pie is diminished from what it could be.

Shareholders New and Old need to take note of the actions taken by our BOD, which may well set a blue-print for future opportunities particularly when Institutions will have an overwhelming say in decisions