Look at it!

Keep on selling PUB.

This is over-valued .

It is only worth 40p.

I'm not usually cynical.

Last orders at Punch...?

at 59p the future looks bleak.

up 6.6% atm

8%....

short @ 63.6

Just had a sip @75.85.

Third Quarter Trading Update.

Highlights

Progress in all areas of the business

Strong sales growth in Spirit

Further improvement in trends in Punch

On track to meet our full year expectations

Good progress on demerger plans



Spirit

Managed like-for-like sales +7.3% (+5.7% 40 weeks)

o Food +8.4% (+7.0% 40 weeks)

o Drink +7.3% (+5.0% 40 weeks)

Leased like for like net income -0.7% (-3.9% 40 weeks)

share split?

splat :-

RNS Number : 0751L

Punch Taverns PLC

26 July 2011

26 July 2011

Punch Taverns plc Result of General Meeting

Punch Taverns plc (the "Company") is pleased to announce that at a General Meeting of the Company, held today at One Bunhill Row, London, EC1Y 8YY at 9.30 a.m. all resolutions, as set out in the Notice of General Meeting dated 7 July 2011, were passed by the Company's shareholders, including the resolution to approve the demerger of the Company's "Spirit" business (the "Demerger").

Accordingly, it is expected that the Demerger will become effective on Monday, 1 August 2011 and that dealings in the shares of Spirit Pub Company plc will commence at 8.00 a.m. on that day.

Details of the number of shares in respect of which proxy appointments have been made and the proxy votes cast for, against and withheld for each resolution will shortly be available on the website www.punchtaverns.com.

Copies of the resolutions passed by shareholders will be submitted to the National Storage Mechanism and will shortly be available for inspection at www.Hemscott.com/nsm.do.

SPRT

Spirit demerged.

yup, got it, thanks.

RNS Number : 4628L

Spirit Pub Company PLC

01 August 2011

1 August 2011

Spirit Pub Company plc

Completion of Demerger

Spirit Pub Company plc ("Spirit") is pleased to announce the completion of the demerger of the "Spirit" business from Punch Taverns plc ("Punch").

Accordingly, Spirit's ordinary shares (ticker "SPRT") were admitted earlier today to the premium section of the Official List and to trading on the London Stock Exchange's main market for listed securities. There will be 659,655,957 Spirit shares in issue.

CREST accounts were credited with Spirit shares at 8.00 a.m. (BST) today.

It is expected that Punch shareholders will be sent share certificates in respect of their holdings of Spirit shares by 16 August 2011.

Enquiries:

Spirit Pub Company plc Tel: 01283 498 402 John Grime, Company Secretary

Brunswick Group LLP Tel: 020 7404 5959 Kate Holgate, Dominic McMullan, Natalia Marisova

This announcement does not contain or constitute an offer for sale or the solicitation of an offer to purchase securities in any jurisdiction, including the United States. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States absent registration under the U.S. Securities Act or pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act.

long PUB @ 13.63

out @ 16.5 :-)

Good move, splat before it goes below 10p

Preliminary Results for the 52 weeks to 20 August 2011

Underlying financial performance* - In line with market expectations

EBITDA of 258 million (2010: 291 million)

Profit before tax of 76 million (2010: 90 million)

Basic earnings per share of 8.6p (2010: 9.9p)

Operating cash flow of 202 million

113 million of cash reserves (at 7 October 2011) held outside the securitisations

Net assets of 202 million (31p per share)