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A second fund would allow all members to get what they want from the imutual Cashback Investment Club.richard@imutual wrote:But I appreciate that others may take a different view. Perhaps there is even an argument for creating a second fund, to allow people to choose between two different philosophies
Not sure that's rightgarindan wrote: At the moment I don't feel we are unable to get much done, as we couldn't even agree to put Greene King up for a vote to sell or keep, without complicating things, leaving us with a further 5% decline in price in the meantime.
kevinchess1 wrote:Not sure that's rightgarindan wrote: At the moment I don't feel we are unable to get much done, as we couldn't even agree to put Greene King up for a vote to sell or keep, without complicating things, leaving us with a further 5% decline in price in the meantime.
No one posted in that thread to hold on to it
But no one posted a proposition to sell it either
So, here goes
'I propose we take a Sell or Hold vote on Greene King'
I need two members to support this proposal
I thought we had this one as a divi stock?Shares in Greene King were a 'buy' for Questor in the Sunday Telegraph, down 11% since the paper recommended at early December that they should be sold. Shares in the pub company are down as many investors think it will be dragged down by a £2.3bn gross debt pile that dates back three years to the £774m acquisition of the Spirit Pub Company, while the industry faces a consumer slowdown, rising business rates, minimum wage pressures, and commodity and utility costs.
On the other side of the coin, the City sees the group's dividend, yielding 7%, as safe and while there are a tough few years ahead, shares trading at eight times next year's earnings, makes the shares attractive. Management boasted a record Christmas in the managed pub estate, though heavy snowy weighed on the wider numbers, with the division's sales down 1.4% in the first 37 weeks of the financial year. Cost cutting amid the downturn in casual dining has seen the Fayre & Square food brand scrapped and a sale of its Loch Fyne seafood chain.
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