Tag Archive | "marstons"

Marston’s Launches Right Issues

Marston’s Launches Right Issues

Marston's launches fully underwritten discounted 11 for 10 rights issue to raise £176 million; to issue 298,865,230 new shares at 59p; proceeds will allow for future pub acquisitions; new acquisitions will bring enhanced returns; £140 million of proceeds used for mid-term buys; focused on conserving cash; current market is creating many opportunities; to benefit from falls in average development costs; encouraging current trading; comparable sales for Inns and taverns up 1.1%; pre-items, pre-tax profit to be not less than £69 million; expects to rebase the interim dividend in 2010 [...more]

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Wednesday, January 24, 1:45 am

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