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The Debt pile has been a concern to some for quite sometime. OK funds from the JV have made an impact, however something which appears to gone under the carpet are the Loan Notes which were granted waivers ( for the 2nd time) by HSBC. THese waivers expire in April, the understanding being no further waivers will be considered. That being the case HSBC have arranged, with Marstons agreement( they had little choice), to transfer these loan notes to BNP in Q3/4 . BNP's conditions are rigid with little opportunity to vary conditions.

Debt/Income ratio is going to be sort some company's out. Fuller's. Whtbread and M&B have stronger Balance sheets and will survive/prosper whilst others are struggling.
Dividends are a dead duck in need of resusitation

thriller, are you new to stock investing? It is the nature of the market, what goes up also comes down and vica versa.
To some it has become a casino, some get rich quick others become poor. There is little certainty in this market, too many unknowns continue to emerge which have significant impacts on price behaviour. The only thing one can do is sit tight or if it becomes too stressful, sell up and sleep nights.
I fear there is worse to come. Nerves of steel are required.

AIMO

barchid,

It is puzzling. Why has RF determined an addition of a pub estate below Marston's standards, will add value. Baffles me . Are we acting the "Good Samaritan"?

Joe... suggest you check the named Co's who are in the same sector. They are not down!!!

Yep WTB and Fullers are up. Could be the market is perplexed, as some here, regarding the benefit or not of managing Brain's estate?

There are a few problems with your suggestion, Astra Zeneca expect to produce 2million does per week from mid Jan and unfortuneately the vaccine is adminstered intra muscular and not by mouth. If by mouth no doubt many would have 10x the dose??
Sipp-it the levity of your suggestion well taken!

Happy New Year All

Claire... have you researched the Co's history on aquisitions and disposals? Charles Wells, Pitcher and Piano, sale to Admiral at huge discount. Have concerns the due diligence has been undertaken superficially. Time will tell.
We are not given any information regarding where Brain's Brewery sits in all of this! Are we to believe the Brewery is being mothballed? Very very doubtful, there is bound to be a supply agreement, remember Marstons are only managing the Pub estate. It is the brewery where money is made. Why are'nt Marstons managing the Brewery as part of the deal?

Had hoped after the Carlsberg deal we were going to concentrate on our own estate reaching a level of excellence proposed.

The annual report emphasised a less than adequate level of Senior Management expertise.

and all those on Furlough will be back too work???

Yippee perhaps these boards can then resume normal service? One can but hope!!

Barchid,

Thanks , Seasons greetings to you and yours and everyone.
Have been mulling over the Brain's deal. We will be managing their Pub estate, which I trust our BOD have commissioned a full survey as it seems some of the Pubs are below Marstons standards.
Trent makes some valid points regarding costs which appear rather vague. Clearly Brains have hit the buffers and Marstons have come to the rescue. If as stated Brains Pubs have only 200 beds, this is miniscule , are we to invest in convertions? Cannot see Brains as Freeholders funding any capital works, so does the Management Contract contain undertakings to cover any enhancements to the Pubs?
Until we know more of the detail, the Jury is out.

AIMO

There are various schools of thought regarding the Pub Sector. Some believe once the pandemic is behind us Beer Houses will return to levels equal to or higher than pre Covid. The thinking being consumers will just want to get out.

There is another school of thought which regards the continual reduction in Pub numbers as an ongoing process. Add to this belief lockdown has changed consumer habits, they still drink but from other retail outlets, where from a brewers angle margins are considerably lower.

Drinking behaviour has been forced to change, the $64,000 question is will drinkers flock back to pubs? I have doubts and as stated many weeks ago would hope to see MARS re-inventing it's Business model looking towards the future leisure environment that will emerge once Covid is over. For Pubs to survive and prosper they need to innovate , which some have and are, but needs to be a coordinated plan led, and partly if not wholely funded from the centre.

AIMO

Barchid, YoYoMa,

It is indeed a brave move when Public House sector is being punished so hard. Brain's have clearly hit the buffers and a lifeline in the form of Mars arrives. Brain's have there own Brewery and one wonders how this arrangement will fit with Carlsberg, as it seems Brains Brewery is not part of the deal.
Did understand MARS were intent to build a Pub and Accomodation Business of Excellence once the JV complated. Not sure how taking on a further estate, whose condition etc is not known, fits in with the strategy stated.
It would be useful to get Daave's viewpoint? I expect to talking to some business contacts in Wales later today and will get a view.
At least the market likes it!!!

Profit taking during periods of large rises is to be expected now traders have access to the stock.

Long term investors will have done their homework, Traders don't. and know this company is going places

YoYoMa, agree, I'll go further, are we living through such a level of incompetence that beggars belief or as many are rapidly thinking, a Grand Plan is in motion to completely change Society and Economies in a way that will make life before Covid appear like Utopia?

Jim, the SP is likely to go lower than predicted. Some may find the gratuitous words somewhat empty when it seems to be a joke in your words.
You are clearly alright, there are 1000's whose expectations these last 48 hours have been dealt devastating news.

Is it a co-incidence MP's and Professionals in London finished work for the holiday on Friday?
Have a thought for those 1000's who are now going to be alone this Christmas. Expect mass deaths, and not through Covid.

So much for the earlier pundits!!!

Oh dear draft seems I have touched a raw nerve. If you know the "Loon" why not name him/her?
Of course it always possible Vigo Communications, who monitor these boards noticed and acted!

It's Christmas, have a long drink and relax

draft inaccurate/ false reporting in open publications is not the fault of posters here, indeed PI's may well have been mesmerised into believing Algy Cluff with his new vehicle Cluff Energy (Africa) is in collaboration with Delt, Remember he (Algy) still has a significant holding here and is a friend of Michael Spencer.

Judging by the market the fake news has had little or no impact.

Fill your boots before Christmas, this is going to rocket after New Year, NASDAQ and all that!!

GLA

This Company is "going places", anyone who did not get in on the placing (45p) there is still plenty of time providing stock is available. Apart from Traders, suspect bulk of holders are LOng Term who know graphene has an enormous future.

Daave

Thanks for your insightful post. It confirms what many of my industry contacts have and are saying, some have already given up.

Seems to me even though Brewery chains have /are reducing/suspending rents , Licencees are struggling to survive. Ultimately property owners will reveal, in disclosed Financials, the true extent and damage this dammed Virus is doing.

Thanks and Best of Luck, can only hope 2021 will be much improved.

GLA

Who knew we are active in Seira Leone?