Marston's Share Discussion Threads

[skinny] 09/3/2020 09:36

18 June, 2009

The Board of Directors of Marston's today announces a fully underwritten 11 for 10 Rights Issue to raise gross proceeds of approximately £176 million, through the issue of 298,865,230 New Shares at 59.0 pence per New Share, a 39.6% discount to the theoretical ex-rights price based on the closing price on the London Stock Exchange of 140.25 pence per Ordinary Share on 17 June 2009 (being the last business day before this announcement). The Rights Issue is subject to, inter alia, approval by Shareholders at an Extraordinary General Meeting to be held on 6 July 2009.

[diku] 08/3/2020 18:50

Would prefer to buy in around low 70's...but the divi cut could put spanner in the works down to 55 - 60p...anybody remember the last RI price...

[luderitz] 08/3/2020 18:31

Well that’s one that may be on the way down after this C19 business unless they were on the rise before I suspect.

[spacecake] 08/3/2020 16:00

Kimberly Clark, manufacturer of toilet rolls and tissues is at an all time high.

[pugugly] 08/3/2020 11:18

The whole hospitality industy is at MAJOR risk from significant drop in revenue from fears of catching virus - Cruises and Airlines have already been hit badly - Restaurants - nightclubs - cinemas and other places of mass entertainment suffering reduced traffic flow - trade exhibitions being cancelled
Why would pubs not suffer significant declines in revenne?
Of course they will - and those with highest levels of debt/pension liabilities will suffer the worst.
MARS Highly geared - plus pension liabilities.

So any guesses as to bottom SP?

[diku] 08/3/2020 09:19

When you see other companies chopping their divis it becomes a self full filling prophecy to cut divi and reduce debt whilst trading takes a temporary hit...

[123trev] 08/3/2020 06:56

Sorry for late reply,jefian but didn’t notice your post been busy. The advice was given by Chris Witty on Thursdays Peston. Talking about the spread of corona virus he did not see large crowds in stadiums as a problem but rather pubs and restaurants and he made that clear. Now for whatever reason and you choose nothing more seems to have been said! If recent events in Italy are anything to go by though and that repeats here then,Mars and others going to take a massive hit.

[essentialinvestor] 06/3/2020 11:35

Ian, I mentioned to you a number of year ago their CAPEX new build
programme might come back to bite them on the ass.
Yes the metrics may look good on that capital, but that's while the economy is still growing.

The focus should have been on debt reduction and disposals as mentioned previously.

Luck to holders.

[luderitz] 06/3/2020 08:29

It is for now.

[careful] 06/3/2020 08:01

long term trends will help MARS despite obvious short term problem.
staycations will be the norm, the local pub will come back.

the travel bug to distant places will subside permanently as will cruising.
climate change, virus transmission, the bragging rights have gone for ever.
'is your journey really necessary', is back.

[luderitz] 06/3/2020 07:54

High yield can be temporary so not over concerned with some Companies.

[brewery boy] 06/3/2020 01:09

You mean you sold at 16 minutes past one??

[brewery boy] 06/3/2020 01:06

Why should dividend be cut now? Board are well aware of need to reduce debt, but this is nothing new and remember dividend increases as share price goes down.I am fairly confident that MARS can do well but potential investors require patience and stamina.

[diku] 05/3/2020 23:06

A high yield is generally seen as too good to be true...

[luderitz] 05/3/2020 22:50

How do we know.

[diku] 05/3/2020 22:31

Is the market expecting a divi cut...now yielding around 9%...

[luderitz] 05/3/2020 22:08

No I haven’t.

[jeffian] 05/3/2020 22:04

"the main pub goers are still men"

You've clearly forgotten Marstons' "4 F's" which underpins their new-build policy.

[luderitz] 05/3/2020 21:32

Let’s look at the evidence shall we, the main pub goers are still men so can’t see that changes any time soon so agree shouldn’t affect pub chains like Mars but could be proven wrong in the medium to long term IMHO.

[jeffian] 05/3/2020 17:53

"the recent advice to stay away from pubs and restaurants because they will be key areas of contagion"

What recent advice is that then? I've just spent a while googling all the latest updates and nowhere can I find anything telling people to "stay away from pubs and restaurants". Can you give chapter and verse for your comments?

[jeffian] 05/3/2020 16:37

Really? Mine seemed OK last night.