City Pub Share Discussion Threads

[essentialinvestor] 19/3/2024 16:06

Ian, FSTA appears to lags Young's very significantly on pre covid profit recovery - look at their respective FY results from 2018/19.

So you could perhaps make a case Fullers might surprise on the upside.

But my own view is Young's arguably the better run business.

[jeffian] 19/3/2024 15:55

Rather than selling, I took the opposite route and used the cash proceeds to buy more Youngs (though I suspect FSTA would have been a better option). I think current weakness is more to do with the bad press pubs/hospitality is getting at the moment with focus on the number of pub closures and staff shortages/Min wage reducing opening hours. David Bruce and Clive Watson are a class act and I'm sure there's nothing wrong with the quality of the acquisition.

[essentialinvestor] 19/3/2024 15:28

Young's getting clobbered of late, new holders selling, or existing Young's holders not impressed by the acquisition.

[riskvsreward] 19/3/2024 15:22

AJ Bell still has not credited the payment and worse they don't pay any interest on cash in trading account.

[jeffian] 18/3/2024 12:40

Cash credited to HL account on 15/3.

[rj allen] 18/3/2024 11:19

Young's shares credited to my Halifax account but no cash at all to date.

[covguy] 16/3/2024 11:18

For some reason Halifax has only paid £5 for the shares, not sure why they have done that! I have a query open with them.

[alan@bj] 15/3/2024 22:09

Thanks for the info. It prompted me to check and pleaßed to see mine was paid in today as well.

[ditchsid] 15/3/2024 20:53

My cash appeared this afternoon.

[alan@bj] 08/3/2024 06:49

Almost - cash due on the 18th.

[wad collector] 07/3/2024 22:09

All over now including the shouting!

[alan@bj] 03/1/2024 10:14

Just posting an extract from the 16th November 2023 RNS to save scrolling back through them to find it.

The boards of City Pubs and Young's are pleased to announce that they have reached agreement on the terms and conditions of a recommended offer pursuant to which Young's will acquire the entire issued and to be issued ordinary share capital of City Pubs (the "Transaction"). The Transaction is currently intended to be implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006.

Under the terms of the Transaction, each City Pubs Shareholder will be entitled to receive: for each City Pubs Share:108.75 pence in cash (the "Cash Consideration")
and 0.032658 new Young's A Shares (the "New Young's A Shares")

[darrin1471] 17/11/2023 20:22

Youngs looks a better run company and should be able to extract profits from the CPC estate judging by past performance.
Will Youngs sell, keep or buy the 53% Mosaic Pubs stake.
A single head office should significantly reduce overheads.
There may be some weakness in YNGA as value investors sell stakes acquired in takeover of CPC.
Its worth looking at Youngs YNGN non voting shares for value.

[jeffian] 17/11/2023 19:45

Having said above that I rather missed the chance of a long term hold here, as we're getting some Youngs shares in the deal, I might be tempted to roll the whole lot back into Youngs anyway.

[darrin1471] 16/11/2023 14:26

Thats unlucky Novision. Funny considering your profile name.
Well done all holders.

CPC said in September interim results that "Net Asset Value is c.155p per share" and they sold today for 145p a share.

[novision] 16/11/2023 11:47

sold mine on Tuesday... Doh!

[phillis] 16/11/2023 10:39

Jeff
Try MAB
FD is a mate of mine and and a very solid pair of hands

[jeffian] 16/11/2023 10:14

It's not often that I buy a share and it gets a takeover bid a few weeks later! Nice enough, of course, but I'd chosen this one as a long term hold having been out of the pub sector for a while. Oh, well. Better look for something else.

[lindowcross] 16/11/2023 10:07

A good deal for Youngs as well as CPC. I'm glad I kept buying during dark days of the pandemic. I will end up with a modest profit if the deal completes on similar overall prices for Youngs as now

[blackhorse23] 16/11/2023 09:17

Money moving to CURY

[solarno lopez] 16/11/2023 07:15

Indeed it is what a start to the day

[alan@bj] 16/11/2023 07:14

VERY GOOD NEWS!

[novision] 14/11/2023 15:38

looking perky

[janekane] 03/10/2023 09:01

Why are we not making money
We have some prime sites but we still are showing losses