Greene King sold

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blythburgh
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Greene King sold

Post by blythburgh » Mon Aug 19, 2019 9:41 pm

Greene King looks set to become the latest pub chain to fall into private hands after a conglomerate founded by Hong Kong’s richest man swooped with a £4.6bn approach.

CK Noble, part of Li Ka-shing’s CK Hutchison empire that owns Superdrug and mobile network Three, sprung a surprise on Monday afternoon with an 850p-a-share deal that valued shares in the 220-year-old brewer and pub company at a premium of more than 50pc.
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parchedpeas
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Re: Greene King sold

Post by parchedpeas » Mon Aug 19, 2019 9:51 pm

The first (and only) Brexit dividend!

kevinchess1
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Re: Greene King sold

Post by kevinchess1 » Mon Aug 19, 2019 10:41 pm

parchedpeas wrote:
Mon Aug 19, 2019 9:51 pm
The first (and only) Brexit dividend!
Shouldn't that be 'The last (and only) Brexit dividend then:?:
Politically incorrect since 69

garindan
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Re: Greene King sold

Post by garindan » Tue Aug 20, 2019 8:54 am

We have a lot to think about here. There is significant chatter about there being other interested parties to come in and top the current offer.

The question is: do we sell out now and take the premium on the table ~@850/share (we bought 80 shares @788 and have had 60 dividend) or do we risk waiting to see what happens next? Currently we are up about £110 (~+17.5%) minus sales commission. I think the only way to resolve this is a poll with some discussion.
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Re: Greene King sold

Post by AAAlphaThunder » Tue Aug 20, 2019 8:57 am

Currently trading at 847.00p. We bought for 788.00p. And we have received, to date, dividends of £243.97.

Looks set to be a healthy profit.

I would ride the winners all the way.
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garindan
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Re: Greene King sold

Post by garindan » Tue Aug 20, 2019 9:08 am

I have created a poll for us to reason this one out here.
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Sarah
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Re: Greene King sold

Post by Sarah » Wed Aug 21, 2019 4:52 am

It's a cash offer, plus a final dividend*, planned to go unconditional on 31 March 2020**:

https://www.investegate.co.uk/ck-asset- ... 45125357J/

*24.4 pence per Greene King Share to be paid (subject to approval by Greene King Shareholders at Greene King's upcoming annual general meeting) on 13 September 2019 to Greene King Shareholders on the register as at the close of business on 9 August 2019

**or such later date as may be agreed between CK Bidco and Greene King and the Panel and the Court may allow

Therefore the investment club can expect to receive the final dividend in addition to the proceeds from selling the shares.

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Re: Greene King sold

Post by AAAlphaThunder » Wed Aug 21, 2019 4:46 pm

Sarah wrote:
Wed Aug 21, 2019 4:52 am
It's a cash offer, plus a final dividend*, planned to go unconditional on 31 March 2020**:

https://www.investegate.co.uk/ck-asset- ... 45125357J/

*24.4 pence per Greene King Share to be paid (subject to approval by Greene King Shareholders at Greene King's upcoming annual general meeting) on 13 September 2019 to Greene King Shareholders on the register as at the close of business on 9 August 2019

**or such later date as may be agreed between CK Bidco and Greene King and the Panel and the Court may allow

Therefore the investment club can expect to receive the final dividend in addition to the proceeds from selling the shares.
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