Member Info for pseudonym

November

15 th

Autumn trading statement

DIVIDEND

The Group suspended dividend payments at the start of the pandemic to protect the balance sheet. This

enabled it to invest in its transformation priorities and trusted value. With the business generating an

improved operating performance and having a strengthened balance sheet with credit metrics consistent with

investment grade, the Board plans to restore a modest annual dividend to shareholders, starting with an

interim dividend at the results in November.

Each Director who is able to participate in the Rights Issue and/or vote at the General Meeting has confirmed in writing their intention to take up their entitlement in full, or in part, to subscribe for New Ordinary Shares under the Rights Issue in respect of their respective holding of Existing Ordinary Shares and intends to vote in favour of the Resolutions.

Shore Capital: Mitchells & Butlers is ‘inexpensive’

Shares in pub group Mitchells & Butlers (MAB) are inexpensive despite a strong balance sheet and building momentum, says Shore Capital.

Analyst Greg Johnson retained his ‘hold’ recommendation on the Citywire Elite Companies + rated stock, which was trading at 223p on Thursday.

A fourth-quarter update from the group showed ‘momentum during the year’ had pushed into the final three months of the financial year, with like-for-like sales in the 52 weeks to 23 September up 9.1%. Full-year results are expected to be near the top end of expectations.

‘The group continues to trade well, the balance sheet has significant property backing and the shares are inexpensive,’ said Johnson. ‘We have a “hold” stance, noting the limited cashflow relative to its bond amortisation schedule, with better value in the likes of Marston’s (MARS) and Restaurant Group (RTN).’

Shore Capital: Mitchells & Butlers is ‘inexpensive’

Shares in pub group Mitchells & Butlers (MAB) are inexpensive despite a strong balance sheet and building momentum, says Shore Capital.

Analyst Greg Johnson retained his ‘hold’ recommendation on the Citywire Elite Companies + rated stock, which was trading at 223p on Thursday.

A fourth-quarter update from the group showed ‘momentum during the year’ had pushed into the final three months of the financial year, with like-for-like sales in the 52 weeks to 23 September up 9.1%. Full-year results are expected to be near the top end of expectations.

‘The group continues to trade well, the balance sheet has significant property backing and the shares are inexpensive,’ said Johnson. ‘We have a “hold” stance, noting the limited cashflow relative to its bond amortisation schedule, with better value in the likes of Marston’s (MARS) and Restaurant Group (RTN).’

Poleaxe

They don't know how many will be taking up the rights yet, so they wont know if there is any rump for the underwriters to place until 12 October.

Nil Paid Ticker SYNN

Oasis Management took part of the stake in TRG from Columbia Threadneedle last week lifting its holding from 14.9 to almost 18 per cent.

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https://www.ft.com/content/cdd70929-c537-4b13-96eb-022cd8b198a7

Columbia Threadneedle, which had been TRG’s biggest shareholder and had backed the management in the face of a revolt at a recent annual general meeting, on Thursday cut its shareholding by 6.5 percentage points to around 10 per cent.

Shore Capital leisure analyst Gregg Johnson commented: ‘The first-half results demonstrated continued trading momentum, enhanced disclosure, and significant progress against the group's medium-term targets, which could see EBITDA build towards £130m or earnings per share of 7p.

‘We do not believe this is being reflected in the current valuation of 6 times EBITDA and see fair value closer to 70p/share, or 120p/share on delivery of the medium-term targets.’

Https://www.proactiveinvestors.co.uk/companies/news/1021455/s4-capital-shares-tumble-22-as-sorrell-sounds-the-earnings-alarm-tech-sector-spend-tanks-1021455.html

The shares dropped 30.4p to 107.5p in the first half hour of trading. Peel Hunt remains a bull on the stock with a price target of 250p.

It pointed out the stock is trading on a multiple of just nine times next year's earnings - and that was before Monday's slide.

Deutsche Bank raises Restaurant Group to 'buy' (hold) - price target 56.50 (42) pence

Https://uk.finance.yahoo.com/news/whitbread-explores-sale-beefeater-other-164109550.html

Whitbread is laying the groundwork for a sale of part of its £700m pub and restaurant arm in a move that could place its Beefeater steakhouse chain on the chopping block.

The FTSE 100 hospitality giant is understood to have hired advisers to explore options for the division, which also houses the Brewers Fayre pub chain, amid concerns that poor food and drink sales are weighing on the wider business.

The move marks the latest chapter in the sell-off of the one-time brewer as bosses focus on repeating the UK success of its flagship hotel chain Premier Inn, in Germany.

Https://www.msn.com/en-gb/money/companies/new-activist-calls-for-break-up-of-wagamama-owner-as-pressure-builds/ar-AA1brzxA

Wrong thread, I`ll go and have a lie down.

Better sound out the billionaires behind Odyzean who own 56% of MAB to see if they want a bit of pocket money first. So a hostile bid would be out of the question.

More likely they will offer us a few pennies for our shares.

Cidara Therapeutics’ CD388 influenza therapy news announced 3 Apr.

JPMorgan reinitiates Synthomer with 'neutral' - price target 160 pence

Restaurant Group PLC (LSE:RTN) has “organic recovery potential” that’s according to Citigroup’s London-based analysts.

Citi, in a note today, stuck with a price target of 52p per share (current price: 38.42p) although revised down forecasts for the 2023/24 financial adjusting for margin guidance, following the Wagamama owner’s wider loss reported on Wednesday.

Hvivo Market Data
Currency UK Pounds
Share Price 17.00p
Time 26/01/23 08:07
Change Today 2.02p
% Change 1.42%
Volume 269,246
High 52 week range 21.00p
Low 52 week range 8.75p
Shares Issued 671.05m
Market Cap(million) £116.59m