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City Pubs - 145p recommended offer from Youngs

December 2023

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

City Pubs jumped by 33% after announcing a recommended 145p offer from Young & Co (YNGA; 1085p). The offer comprises 108.75p cash and 0.032658 of a new Young’s ‘A’ share for each City Pubs share, valuing City Pubs at approximately £162m. City Pubs’ predominantly freehold portfolio of premium, individual and well-invested pubs with 240 bedrooms is clearly an attractive morsel for Youngs alongside its own freehold estate. Another undervalued smallcap exits the market. Accept the offer. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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