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Mitchells & Butlers – “prudent to explore an equity capital raise”… or a ‘keep-the-lights-on’ necessity?

“First Quarter Trading Update” from restaurants and pubs company Mitchells & Butlers (MAB) includes that it currently has cash balances on hand of £125 million and that Chief Executive Phil Urban has “every confidence that we can emerge in a strong competitive position once the current restrictions on us are lifted”. So why a current 7% lower share price response, to around 220p?...

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