Member Info for Supercharger

Net proceeds used for significant debt paydown, achieving medium-term target of

Agreed the cash injection is the equivalent of 32p to repay debt but obviously the Total asset of a shared brewery is less on the books than otherwise would have been. However just like a house with shared lodgers it would have been worth less to keep. The real savings are the saving in Interest per year of £18m per year in interest the Company release said this :- for £206 million in cash.

• Value-creating sale of interest in CMBC to Carlsberg for £206 million in cash

• Establishes a purely focused pub business with a strong position in the UK market and

significant opportunities for further growth

• Delivers on stated de-leverage strategy creating a stronger balance sheet and a step change

in financial flexibility

• Marston’s will continue its strong partnership with CMBC through the long-term brand

distribution agreement which remains in place

• Attractive valuation, representing an enterprise value2 multiple of 14.5 times EBITDA3 and 24.3

times EBIT4

for the 12-month period ended 31 December 2023

• Net proceeds5 used for significant debt paydown, achieving medium-term target of

I printed off on 13th April my broker sheet and it said they were "only" 634.16m shares issued and so for our £206m payment from Carlsberg this is worth an injection of 32p per share. This is not a large number for a Company this size.

So those investing now are getting a very good discount as debts reduce.

Mary might be worth coming back in?

mARY

Agreed - Unfair trader should have taken back his shorts some time ago, (rather than still be wearing them) no one else is registered for them on Mars that I know of, lots to be positive about here as the 3 yr turnaround continues.

Accountants 95p a share is what we should be at now, lets see how we go once the BOE and Fed start cutting. We are already on an upward path now gaining momentum, which is what the Board of Marston have already said. GLA.

Property values in general are going up, especially for businesses out of town since (Covid). Marston have not yet revalued their properties inline but they will do so when they are in a position to reposition the Company. The most recent release says as such. RICS just respond to prices the market sets them in each area via Estate Agents and supply and demand.

With increased property values already seen this year, Marston sales increasing to circa £1billion and with loans from tomorrow benefitting from £206m cash, bringing the total loan book now less than sales, we are now in a very good position. Once the B.O.E start reducing rates the profit margins will increase further with reduced fresh food inflation announced today and with clients having more money in their pocket (apart from those pensioners on pension credit who will find a nice warm logged pub fire going to keep them warm this winter).

The market is responding to the start of this Companies recovery now we are up and over 40p a share. We could be 50p soon the way we are going, and we should be! Maybe we could even start breakfast clubs for local schools as we are community pubs. I hope the B.O.D are listening to mature parents, as well as Children! GLA

Two great events this week for Marston. I.e. tomorrow we will inherit £206 Million, and one hope for the BOE to drop rates (worth a another £200m,ha,ha on Thursday).

For unfair trader I suggest he uses the school holidays to revise for his forthcoming CSE's rather than make a fool of himself. (I note his recommendation of Delt are falling fast again today which is not surprising when you look at their negative turnover growth.

The one I suggested to him Plexus are gaining fast again (just like Marston). Whitbread up too, he seems to have forgotten how many establishments they have in Germany and he is obviously not into Football (which is surprising for a young person). GLA.

If he was such a great investor and feels Carlsberg got the brewery for a steal, why has he not bought shares in them then?

In the meantime we have helped the takeover for Carlsberg of Britvic and will benefit from our contract and close relationship with them. In business this is how it works forming close relationships where both benefit, one in helping the other. I can see those with the higher intelligence on this board appreciate that, and thanks.

Unfair trader I and my wifes accounts have share portfolios in possibly 30 plus FTSE Companies and ours funds alone have grown in the past 3 months by a very substantial sum. (Even taking into a/c losses that can be offset against gains).

Try to keep your dictation short, no one has the time to read so much in the limited time available. I have tried to help you. The latest share growth for Marston speaks for itself and this I see as one of my better longer term opportunities. As BC will tell you the Market is not often wrong. Good luck with your Oil Fossil fuel mining. For the last 10 years since retiring my choices overall have made me very comfortable in fact I now wish I had done it in my 40's rather than when 50. ATB.

Looking back in fact I should have said Delt are only 31.17% of what they were, and so they have lost 68.83% in value, against Marston gain for the same period of a 39.28% gain for the same period. So if he had instead of going with Delt gone with Marston he would have been 108.11% better off.

With that sort of luck we do not want him here anyway. GLA. DYOR. from Gotham City.

WW -interesting that the Delt man expert trading here under Fair trader wanted me to invest in his Delta energy. So for the period from 29th April 2024 to today 29thJuly 2024 I made a comparison to show how good Marstons is!

Delta Energy were 38.50p and have lost 31.17% in value in that limited period to day be only 12p..

Marston were 28p and are now 39p and so gained 39.28% for the same period, so if instead of investing in Delt he had invested in Mars he would have been 70.45% better off. I thought you might be interested. Perhaps when we are back to the Accountants NPV last call I seem to remember being 94p I can be even happier.

Delta man I would suggest you relook at the accounts as last value per share or Net Present Value was 94p or more!

I cannot see 50P Mentioned anywhere. This share is trading on sentiment rather than its true NPV but that same sentiment is improving everyday with the reduced debt and increased sales yr on yr.

I wonder why anyone would suggest the accountants view is worth less than what they have in certified accounts?

Perhaps there is another reason for accepting a £200m payment in advance it could be something to do with the contract for the CMP stays in place just that Marston will not longer own 40% of the brewery joint venture, (i.e. Goodwill) or that a sudden cash injection is worth more taking into account time value of money. Or it was agreed to clear a takeover approach or merger with someone else, or there are tax advantages in taking a loss rather than paying a Capital Gain. However NON-shareholders NEED NOT WORRY as they are not on risk. Instead I would be worry about one's own shares particularly where drilling is taking place in a volcanic area. The pollution risk is huge where it is doubtful the regular sand dumped down the outside of the drilling pipes will hold back molten volcanic larva when the pressures increase.

Remember the Accountants Net present value per share was 94p.

I agree undervalued and I can / will wait, and if the B.O.E start reducing rates this share will benefit for a number of reasons. GLA -DYOR and own thing as ever.

Central Banks will have to bring rates down soon if they keep to their word of 2% Growth.

Marston as well as many other UK Companies will see opportunities (unlike others). GLA.

Very good points WW, as usual.

What with the Central banks interest rates to start reducing soon Marston know they will be a major beneficiary,hence why they said on their recent release to reengineering their loans. Plus prop.values will increase, and customers will have more money released for their leisure spending.

I can see within 5 years they might (if they wanted to) even pay off all of their loans the way it is going, however they may decide to keep some low level ones for tax offsetting advantages.

Dad -really Unfair trader does need your help not me. I still am amused by your investigative work as a non-shareholder however the pack of moaners that you collectively work with make me laugh, as you do.

Esken are in Administration but Southend Airport is doing rather well-so never give up on a speculative investment.

Likewise I seem to remember suggesting Rolls Royce too and one would have made a five fold profit there as well as here with a doubling from the past couple of months alone. My other Gold and Silver miners have been very well received too, and the Banks. However I am not sure I would be investing in Oil drillers at the moment, but Plexus or "pos grip" for those closing down is a good idea. Keep'em peeled as Shaw Taylor used to say. PC BC.

I do not do "Nev grip" by the way, as I have said you never win on everything all of the time, but if you are not going to invest you are not on risk. If you are not on risk then you will not make an investment. Unfortunately the idea some have of pulling down a share so that they can sell the little other shares they do own to help fund a purchase of one when when it suits them, is not working for you it seems either.

Unfair trader. I do feel sorry for you but cheer up a bit. Always negative, I am always happy and do not need any help thank you. Certainly we have been very lucky recently and should have been awarded a Gold medal.

I am sorry that your drilling has not been so successful. It is pot luck with Oil discoveries and especially offshore when it is Hurricane season. Perhap studying weather charts is a hobby for you.

Otherwise others will see you as not as fit for purpose and where the minimum Olympic entry requirements have been met. Plexus is one share you should look at instead by the way as fossil fuel drilling comes to an end! Gla.

WW-have have realised now Unfair trader is on the wrong Share screen, he should be looking at his Delt? He says he is holding out on those, but it looks as if they have taken a dive? Maybe he is looking for Gold at the Olympics?

Still everyone expects Interest rates to start falling soon and that is why The Marston board have said they will start re-organising their loans advantageously- so they can get unwound quicker than ever before. I suspect in five years time with sales now exceeding the total loans that within 5 years they may end up with no debt at all. GL.

For shareholders -Good news this share has now risen 42.57% in just 3 months.

Apologies for mentioning earlier only 37% increase in three weeks. My mistake.

Non shareholders need not reply. Please keep the board for those "on risk" rather than those shorters (at risk) haha.

Good Weekend - enjoy the Olympics and take some pride! Premier League season starts soon too so sales on the up!

Well a couple of years ago Unfair trader was asking out for how many shares he needed to buy for his Marston meal discount vouchers. Was it even £300? So I think we are talking about a very small town investor.

If he had not sold those if we said over the past 3 weeks the share price had gone up by 37%, then he would of had enough for his whole summer of eating. Although I suppose he might not even get in the pubs at this rate, as the Olympics is now on the Tv's for extra entertainment, as no one can now get there by train. GLA

Sales momentum increasing yr on yr on yr, possibly already over £1billion a year, and when total sales are added in from the Brewery up until the sale date, with future summer sales only just beginning, I see sales now expected to be greater than the reduced debt.

The market sees this too. This is becoming very painful now for the bears or small town shorts who have had the same old dreary tone for 3 yrs! My suggestion buy back your shares now whilst you can!!! Then move on no one wants to hear the same old tone anymore they are bored!

Hi Wise investor, I can copy across sales in group were up 6.2% but remember that is yr on yr where we have seen double digit growths in the past. Also remember the Brewery sale is proposed for 31st July so Marston can still add in later sales from the brewery that have not yet been added in up an until the sale is concluded. I suspect double digit gains here in the year when all sales are added in (Brewery sales up until transaction date). They said.

Year-to-date, like-for-like sales increased by 5.2% and total retail sales in the Groups managed and

franchised pubs increased by 6.2% as our portfolio of well-invested community pubs continues to

demonstrate its appeal.

Brewery transaction targeted for 31st July (and to be included in adjusted earnings per share) . Completion of the transaction is targeted for 31 July 2024. The transaction is expected to be accretive on adjusted earnings per share.

As on 11 July 2024, the Financial Conduct Authority confirmed the changes to the UK Listing Rules. GLA