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Real-Time news about Spirit Pub (London Stock Exchange): 0 recent articles
I think the value of the Green King offer has increased recently with their increasing share price (776p on Oct 17th to 798p on Oct 23rd), so there would have been little (if any difference) between the value of the Green King and C&C offers, also I suspect the Spirit BOD were fairly confident that C&C would come back with an improved offer if they rejected them the first time. When it comes to haggling, nobody never starts off with their best offer.
There's a write up in the Morning Advertiser today which suggests C&C will come back with a revised offer, they have until Nov 20th to put up, or shut up.
|jonc: I think we will see better progress once Glenview have dumped all of their holdings
Another 2% has gone and these constant sales are keeping a lid on the share price.|
|jonc: I wonder if Glenview Capital will sell their entire holding.
I believe the continuing drip drip is causing somewhat of a brake on the share price.|
|ll0ydy: If the beer escalator is cancelled in the next budget the share price should go higher!
Every year, the beer tax escalator increases the tax on beer by 2% above the rate of inflation, thus adding considerably more pressure on the British pub, the cornerstone of many of our communities. Removing the beer duty escalator at the next budget will help keep beer more affordable and go a long way to supporting the institution that is the great British pub.
Going to the pub is a core British tradition and so is enjoying great beer. If you want to continue enjoying your fresh pint in your local pub then it's crucial that you support our campaign to grind the beer duty tax escalator to a halt.
If we don't show our support for the great British pub, we risk losing more pubs and more jobs within our local communities.
Support great beer in the great British pub and sign our e-petition now..... British Pubs Need You.
This e-petition has received the following response:
This e-petition has now passed the threshold of 100 000 signatures.
The Leader of the House of Commons has written to the Backbench Business Committee, who are responsible for the scheduling of debates on e-petitions, informing them that the petition has reached 100 000 signatures.
The Backbench Busines Committee meets weekly to hear representations from MPs for debates in backbench time. The Committee can consider and subject for debate, including those raised in e-petitions, but an MP must make the case for their consideration. More information about the committee is available on its website http://www.parliament.uk/bbcom
The Government have provided the following response to the petition:
"The Government recognises that pubs and brewers make an important contribution to local communities and to the wider economy, in addition to providing local employment and promoting responsible drinking. This is why at Budget 2012 we announced no further changes to alcohol duties, beyond the increases pre-announced at Budget 2008 by the previous Government. The 'duty escalator' refers to those inherited plans to increase all alcohol duty rates by 2 per cent above inflation (RPI) each year to 2014 - 2015.
The revenues from alcohol duty make an important contribution to tackling Britain's debt crisis. Budget 2012's duty increase and increases to 2014 - 2015 form part of our credible plan to reduce the Britain's debt, which is required to ensure low interest rates and a stable platform for growth. It would be worse for everyone if the Government did not take action to tackle the deficit.
The Government's ambition is for the UK to be the best place in Europe to start, finance and grow a business. In support of this aim the Government has taken a number of steps to boost business, from which pubs will benefit. These include a reduction in the main rate of corporation tax from 26 per cent to 24 per cent in April 2012. The rate will also reduce to 23 per cent in April 2013 and then to 22 per cent in April 2014. For small businesses in particular, the Government reduced the small profits rate from 21 per cent to 20 per cent from 1 April 2011, and extended the small business rate relief holiday until March 2013."|
|nurdin: Estate valuation at £1.3bn still leaves the current share price at a significant discount to the NTAV per share|
|chrisg: Looks like Glenview Capital is unloading. On Monday an RNS said they were down to 17.43% from the 18.37% level just a month previously. The current share-price action suggests that they are still selling, and until the tap is turned off, we won't see any significant or sustained bounce in the price.
Also, Old Mutual are shown as 5.42% in the last Annual Report, and they recently reduced to 4.95%, so maybe they are selling as well.
Taps can provide opportunities, as long as the company is trading well, and the most recent trading update spoke for itself.|
The less active a board the higher the share price ends up. I don't want a thread full of rampy idiots.
I am holding for probably a five year term.|
Spirit Pub share price data is direct from the London Stock Exchange