Punch Taverns Share Discussion Threads

[emigna2002] 13/8/2020 15:41

Shake the staff up Jon

[jhonmah] 06/8/2020 08:20

Is this a share tip?

[emigna2002] 05/8/2020 08:05

Two pints of lager and a packet of scampi crisps please

[1loughton] 05/8/2020 07:52

Always a happy welcome for Tern holders

[la forge] 18/4/2018 14:26

British pubs are disappearing. Here's why
British pubs are disappearing - here's why
British pubs are disappearing - here's why
7:44 AM ET Tue, 17 April 2018 | 04:19







Tom Chitty | @mrtomchitty
Published 5 Hours Ago Updated 4 Hours Ago

The British pub industry is in decline and technology is to blame. That's according to the British Beer and Pub Association (BB&PA), which is trying to put the brakes on the industry's near 40 year decline.

A quarter of Britain's pubs have disappeared in the last 35 years. In London, 32 of the city's 33 districts have less bars and pubs than they did in 2001.

"People are spending more time in their homes and the technology and the environment at home is more comfortable than it ever was," David Wilson, director of public affairs for the BB&PA, said.
Some publicans say the smoking ban played a big part in the pubs decline.
Some publicans say the smoking ban played a big part in the pubs decline.

The issue of Britons staying at home, streaming Netflix and drinking supermarket booze joins a growing list of problems that the pub industry is facing.

The indoor smoking ban in 2007 resulted in a rapid decline in pub goers, while a change in tastes towards wine has seen beer consumption fall since 1979.

Across the U.K., people are also drinking less — an obstacle that The Jerusalem Tavern, one of the oldest pubs in London and located in the capital's Clerkenwell district is trying to tackle.

"The younger generation now like to keep themselves fit and I've noticed that there's not so many people drinking at lunch-time." General Manager Daniel Lucas said.
The number of pubs and bars fell from 4,835 in 2001 to just 3,615 in 2016
The number of pubs and bars fell from 4,835 in 2001 to just 3,615 in 2016

The solution for most pubs has been to increase and improve their food offering, "That's pretty much how the majority of the industry is keeping afloat, by the food sales rather than the drinks," Lucas said.

Not everyone in the beer industry is suffering though. The number of independent pubs is actually increasing, which has seen the rise of the micro-brewery directly supplying the beer to the pub. There are now more than 2000 breweries in the U.K. for the first time since the 1930s.

For the large pub groups, however, the outlook is not so rosy. Ei Group, the largest pub owner in the U.K., saw it's pre-tax profits fall 68 percent at the beginning of last year.

[jeffian] 18/8/2017 17:54

Looks as if everyone's lost interest here. Anyone still around should get their money by 7 September -


Event

Expected time/date(1)

Court Hearing (to sanction the Scheme)

Wednesday 23 August 2017

Last day of dealings in Punch Shares

Wednesday 23 August 2017

Dealings in Punch Shares suspended in London

5.00 p.m. on Wednesday 23 August 2017

Scheme Record Time

6.00 p.m. on Wednesday 23 August 2017

Effective Date of the Scheme

Thursday 24 August 2017






De-listing of Punch Shares

Friday 25 August 2017

Completion of the Disposal

Tuesday 29 August 2017

Despatch of cheques and crediting of CREST for cash consideration due under the Scheme

By 7 September 2017

Long Stop Date(2)

31 October 2017

[jeffian] 01/3/2017 17:08

Yes, but the timetable is still conditional on getting clearance from the EU competition authorities. It got Court approval to the Scheme of Arrangement on 10 Feb but you won't get your money until the other stuff is dealt with. see here -

[shaf200] 01/3/2017 16:42

This is all over isn't it with the take over at 180p agreed?

[tonysss13] 03/2/2017 17:50

hxxps://www.betaville.co.uk/news/heineken-said-to-be-sweeping-market-for-punch-stock-in-afternoon-raid-sources/

Revealed: Heineken / Patron consortium said to have swept market for Punch Taverns stock as part of market raid - sources

Friday, 3 February 2017, 4:33 pm
Patron Capital and Heneiken have been carrying out a secret raid for Punch Taverns shares, Betaville can reveal.

Good sources tell me the private equity firm and Heneiken have been buying Punch shares via stockbroker Peel Hunt during today's trading session.

So far, roughly 55 million shares - or 25pc - Punch have traded today, meaning the consortium is likely to have bought around 20pc.

What's not clear is why Patron and Heineken are bothering to carry out the raid given the rival Emerald consortium, led by Alan McIntosh, pulled out of the running earlier this week and they have irrevocable understakings from a number of Punch shareholders.

One person familiar with the situation said they were carrying the raid to limit the possiblity of a blocking vote at the General Meeting, where shareholders will vote on the the £400 million (or £1 billion plus if you include Punch's massive debt pile) takeover offer.

Keep an eye out on the regulatory news service early next week as I expect Patron and Heineken to formally disclose they have bought a sizeable shareholding - possibly as much as just under 30pc - in Punch Taverns.

Patron and Heineken declined to comment.

- See more at: hxxps://www.betaville.co.uk/news/heineken-said-to-be-sweeping-market-for-punch-stock-in-afternoon-raid-sources/#sthash.emKgvjvb.dpuf

[tonysss13] 03/2/2017 13:46

some chunky off book buying at 180 today. Heineken or maybe an activist?

[tonysss13] 01/2/2017 13:25

Dominic WalshVerified account ‏@walshdominic 24m24 minutes ago
More
EXCLUSIVE: Strong rumours that Emerald Investment Partners is ready to call time on its interest in Punch Taverns

[paulypilot] 28/1/2017 23:26

don't know why it posted 3 times, in error. apols.

[paulypilot] 28/1/2017 23:25

I've had a terrible experience recently with Heineken/Star. So I really hope they do NOT take over Punch.

We salvaged one of their pubs, called the Bowling Green, in Nantwich, and ran the pub for them, as a favour, in return for a deal to refurb it.

Anyway, Punch strung us along for a year, with numerous delays. We incurred losses, but didn't mind, as it was agreed that we would get a nice refurb & then hopefully operate at a profit henceforth.

What actually happened? Star/Heineken poached our bar manager, and did a deal with him, deceitfully, behind our backs! They lied repeatedly, and are totally untrustworthy.

Basically, Star/Heineken are sharks, who took advantage of a small, financially struggling little company (us), to line their own pockets.

The people at Heineken/Star are untrustworthy, in my experience. So I very much hope that they do not get their greasy mitts on some good pubs!

Regards, Paul.

[paulypilot] 28/1/2017 23:25

I've been advised to delete this post.

[paulypilot] 28/1/2017 23:25

.

Regards, Paul.

[jimbobjames2002] 28/1/2017 20:10

Game of chicken at the moment, watch this space...

[shaf200] 26/1/2017 13:17

The share price would suggest that the market expects a higher offer to materialise? Would others agree?

[jeffian] 26/1/2017 11:56

"Emerald is required, by not later than 5.00 p.m. on the date falling seven days prior to the date of the Meetings, either to announce a firm intention to make an offer for Punch in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. Based on a date of the Meetings of 10 February 2017 as set out in the Scheme Document, Emerald would need to make such an announcement by not later than 5.00 p.m. on 3 February 2017."



Tick Tock!

[jeffian] 15/1/2017 10:51

Maybe it would be a good thing if Emerald got it.....then Heineken could take a pop at Enterprise Inns!

[jeffian] 15/1/2017 10:47

Reported NAV is actually 353p (£784.5m / 222m shares in issue) but it falls back to around 285p if you strip out the £150m 'goodwill' on the balance sheet, which is what I imagine they have done.

[jimbobjames2002] 14/1/2017 18:00

Taken from Langton Capital - 2017-01-13 - Punch Taverns daily email by Mark Brumby:"PUNCH TAVERNS – A REMINDER OF WHERE WE STAND:• Punch has agreed to a break up bid from Heineken and Patron Capital at 180p per share.• The is irrevocable – except if a rival offers 200p or more.• Documentation is promised 'by 20 Jan'.• The first closing date is then 21 days hence.• A rival offer, which would have to be at 200p or above, is likely towards the end of that 3wk period• Saying a second bid will come in the week beginning the 6 Feb is not unreasonable.• Given the benefits of vertical integration, Punch should be worth more to Heineken than to anyone else• A counter from Patron / Heineken at 210p to 220p could not be ruled out• Punch's NAV is c285p• It would take a builder of such an estate c300p per share and perhaps 20yrs to build such a portfolio of pubs• The end-game could, repeat could, be materially closer to the 285p NAV level than it is presently."

[jeffian] 09/1/2017 12:37

Well the Board may be recommending it but the market still isn't buying it yet.

[jeffian] 04/1/2017 15:19

Bit of a Phoney War here! I wonder which side will get off the fence first, or whether either will?