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Ex-F -You really need to keep uptodate. The Red-Arrows have been based at the Airport for last summer (you need to refer to Southend Echo local reports). Not sure if still there to be honest. Also I read that the RAF have been looking into feasibility of an extended usage for the Airport (due to its proximity to London as a good defence position) again all mentioned in the press.

Prudential Assurance, Phoenix and others are major investors in Infrastructure projects and Southend if worth some of the values discussed (including those from Carlyle group) would be a sound investment so I see not excuses for an approach by Esken to those whom would see £200m as a drop in the Ocean. The Airport would be worth a lot more without the loan in anycase and would reverse the negativity. DYOR and GLA.

Perhaps rather than the Lawyers wanting to continue to dispute (which suits their pockets) with a compromise proposal, maybe they should be "robustly" seeking shareholders approval to obtain £200m to repay the whole loan in dispute and then this will save costs, and allow any potential sale to go through if we were as close as they have said previously. I am sure they can obtain the money from some of the major shareholders or the UK Govt. who have RAF planes at L/SE if there is good reason to do so, as this is not only for the Countries interests, but also for the sake of the local community. Something that Carlyle have said they would like to improve under their management? It does appears as if the Value of the Airport is far in excess of £200m so get on with it. IMHO.

They can restructure when lower rates arrive and have come out of the other side of a World Pandemic where growth and returning customers is building momentum, notwithstanding the fact they own 40% of a joint brewery venture with Carlsberg one of the Worlds largest brewers, and that is signing up larger customers than even Marstons themselves to bring about economies of scale into brewing. In fact the future her is very bright but these things can take time to gain sentiment but it will come. We just need to be patient but I agree at this price they are ripe for a takeover, which again might be coming when cheaper loan rates appear.

Looks like the Carlsberg/Marston brewery is launching a new beer 1664 Blanc -with echo's of Champagne for Uk fashion week and it is available later in draft, but also in the Supermarkets. Marking the 360th Anniversary of the 1664 Brand.

Would love to see soon the Brewery sales figs for Christmas however to add onto the Pub figs. Shame we did not get both together!

www.carlsbergmarstons.co.uk/newsroom/carlsberg-marston-s-brewing-company-announces-the-uk-launch-of-1664-blanc/

Maybe the Carlsberg Marston partnership with new contracts signed up to double in size distribution should take over Fullers then too and amass even greater economies of scale.

Remember Doug that all you have recently seen are the pub figs for Marstons over Christmas and the New year and NOT their brewery figures that will also take into account all of the home sales via, Amazon, and the Supermarkets and the like as well as to the Marstons pubs themselves that we have seen have done very well!

MTRO - What they have said completely disagrees with your statement of fact. I have a feeling you have not been speaking to Carlyle group to their intentions which at this stage appear to be good.

For me as I repeatedly say I see this as a win/win at this price, and no one should be selling in my opinion. In fact as the price is so low it is also so volatile which awakens stockbrokers to opportunities and where they make real money if that is what you are interested in. I see this as a wait and see, either way something will happen but the airport will survive, and any contracts that were signed have to be fair and balanced. For old shareholders such as myself anything that comes out of this will be a bonus, or if nothing I can write it off against other profits for the year, but for me I also see this as an interesting punt! DYOR.

In my opinion the Southend Echo report is stating what Carlyle have said and so if true that they have given an option of acquiring a 30% stake for their loan, which gives a base value of over £600m for the airport which will not have the loan, but instead Carlyle as a major shareholder. Southend airport also has some other very well respected shareholders who would need to be consulted too. However they do have a point in that they could improve the running of the airport and so when we have a share price worth lets face it nothing anyway I see more to be gained by sitting tight and awaiting events as they may not turn out to be as bad as you or anyone else fears. To be honest after selling the BIO MASS the first thing the BOD did was to prop up their own pension rather than at this stage pay more of the loans off, and so Carlyle may have a point. Hopefully someone is going to get off their back side and do something urgently if they wish to maintain their independence although I would imagine we have UK LAW and this might work in ESKEN Favour rather than what the Carlyle USA Lawyers are covering? Who knows -so I can see action which might be a good thing after all if we are to protect the little man. Do we know who is representing Esken.i.e. Clydes, Lovells, Freshfields?

Thanks David we all know what was said but I would read the Southend Echo report i wrote below after an interview with Carlyle group. which gives a different slant in that they see benefits by taking away control from the current management control and running the Company themselves. It also gives an idea of how they value the business as their take is a 30% share for the loan plus whatever they also own/buy, existing shareholders might actually be better off long term with Carlyle who also run NY Terminal 1 and so perhaps they can see additional routes to be an advantage too, or something current Management have missed? Interesting one this and they may have a point but nonetheless their reference is to make the most of their own shareholding which Esken have also referred to, but they see and feel they could run things better with them at the wheel which would be better for Essex and presumably long suffering shareholders (them included) worth a read?

A spokesman for Carlyle said: “Esken is financially distressed and is not in a position to support the airport’s full recovery and growth nor execute an orderly sale of the airport.

“As an experienced investor in and operator of airports around the world Carlyle believes in, and is committed to, the future of Southend Airport and understands its importance to airlines, passengers, employees and the local community.

“We have made numerous proposals to Esken and the airport to secure the airport’s long-term future, and look forward to stable ownership of the airport by an experienced and financially strong entity.”

The loan could be transformed into a 30 per equity stake under certain conditions. Carlyle already operates a number of other global airports including the new terminal one at New York’s JFK.

Value therefore over £600m in all and maybe existing shareholders will see some value after all?

Once one starts more massive conglomerate's could follow? North Weald Essex just sold to Google.

;-

https://www.bbc.co.uk/news/uk-england-essex-68078897

Agree £200m is actually not a lot in the Aviation market and if it can be found quickly pay them off and then see if Esken have any counterclaim for breach and refund of interest if already worked into the figs? Heard a few weeks ago that Carlyle group were having trouble too and there had already been many changes at the top recently- allegedly! They can certainly see value here increasing with so many operators starting up flights and one of their clients might be interested who is into Infrastructure which might be why they are acting like this to bully for control, as if it is true what we are being told by the Esken Management they have suitors after Southend which might not be to CGI favour! If an answer is found this share will be the one flying!!

As we have not yet heard from the Brewery side for sales for those interested in growth they may want to keep up to date with the Carlsberg Marston Brewery website & its updates. One will see they are expanding fast with recent deals such as Stonegate one for a the logistics agreement for the next 10 years, whilst closing old breweries and creating enlarged ones that are more cost effective/efficient. www.carlsbergmarstons.co.uk/news-media/latest-news/

This gives an advantage over many of their competitors that have not yet signed up!

Esken said it continued to support London Southend Airport's (LSA) liquidity needs and that the airport had not defaulted on any payments.

"Esken is disappointed that CGI has chosen to take this action based on purported technical defaults of the convertible

loan agreement. Esken and LSA are open to engaging with CGI to resolve the issue," a spokesperson for the British group said.

Maybe Carlyle have a buyer? Perhaps they should disclose their interest to shareholders in an ealry re-payment? In the end its worth a punt!! DYOR/GLA.

Carlsberg Marston Group have their own web page and the last update recently was they had extended a new deal with Liverpool FC. so it is due for an update. However their retail outlets such as all of the main supermarkets will no doubt work a QTR in area's? We know that MB have done well but it is a shame they could not have been figs to add in for the brewery with the pub sales together to stop those who jump at what they feel is negativity when there is more positivity to come. Never mind!

Owners of London Southend Airport will also have their own Insurers from a Corporate point of view to satisfy Air travel, legal aspects/requirements too, D&O cover and E&O and the Lawyers and Accountants will be by now appointed by their insurers and they in turn will have their own P.I. Covers in place. So in the Uk they will have Directors and Officers Insurance to protect shareholders and their liability to same, Errors and Omissions Insurance, and Professional Indemnity Insurance. I would suggest the law is Uk law and the Airport would need to have had protective insurances in place to protect the Airlines and passengers too for Airlines and Airport licenses to have been granted. They should and we should be well covered in my opinion, and the High court is most likely to put a stay of prosecution until they have had time to digest what appears to be a contract despite (which again is likely to have a premises cover). GLA/DYOR.

Just to concern the plus 8% sales figs are in the statement "just for the pubs" we still have the brewery figs for Marstons 40% share to be added on. I wish they would include all group figs to give us a clearer indication over competitors. Afterall If M&B had greater beer sales then who is supplying them with their beer! Marstons group will also have benefitted via the Brewery. This is what they said " Total retail sales in the Group’s managed and franchised pubs for the 16-week period were +8.8% on last year. Both drink sales and food sales have been strong...." I would like to also see what the brewery sales figs were to take in "home sales" too. Suspect this will raise us above competitors.

Suspect the Brewery sales figs to the Supermarkets and off licenses have not yet been fully received or included as they will take some time to come in from the 000's of establishments across the Uk. We are seeing Pub figs and so I suspect overall we will be far more than an 8% gain overall and this will move us up above our competitors. Good to see year on year increases as we are gaining towards the £1Billion of sales that was the objective. GLA.

However I can see many suitors here also looking for an opportunity as even the govt. (RAF) have planes stationed at Southend and so what is a mere 200m to them to provide another bond to pay Carlyle off. Even Easyjet would have this sort of cash to become part owners. Not the end of the World perhaps the court will provide a "stay" in the owners interests. We should not be bullied here into submission where we can see Multiple Airlines now using the facility, and lets face it the timing of Carlyle's actions is just as we have expansion/recovery making good progress and their bond is in fact therefore more secure than it was before during the pandemic which appear to indicate their true intentions of a takeover whilst they feel they have the opportunity. Perhaps the court will support the little man here rather than a foreign giant.

Pineapple AGM to discuss tomorrow. Alpha have a call option in this stock-worth a read. See link :-

www.seekingalpha.com/article/4663614-marstons-all-option-on-uk-pub-culture?feed_item_type=article

Property values were actually going to be re-valued "post" pandemic where all were devalued during the start of the Pandemic. However do not forget the value the 40% share of the new expanding breweries too. Now just agreed to supply in addition to the 1400 plus Marstons pubs another 1400 odd Stonegate pubs as well.

Even another new partner has joined AeroItalia from Southend for the summer, enter Mann Link starting off with trips to Denmark.

Looks like expansion well underway for Europe now with Switzerland, France, Holland, Spain and Italy also all covered-starting to look very good, and a great opportunity to buy in at this price before other routes are added.