Cazenove Adds to Punch's Hangover After Fundraiser [Edition 2]
Evening Standard - London › July 08, 2009
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Summary
SHARES in debt-laden Punch Taverns have been in freefall since it tapped shareholders last month for an extra Pounds 375 million in order to reduce debts still topping almost Pounds 4 billion. That compares with the stock-market value of the UK's biggest pubs chain operator of less than Pounds 260 million.
The share price retreated a further 1 1/2p to 89p today and is now trading below the heavily discounted 100p that last month's fundraising was priced at.See the full content of this document
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Cazenove Adds to Punch's Hangover After Fundraiser [Edition 2]
That's not just bad news for those shareholders that subscribed to the offer, but also all those directors who took the opportunity to add to their holdings, including boss Giles Thorley.
He bought a...See the full content of this document
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