This blog serves to answer the question “What are Greene King Shareholder Vouchers?” The reader is informed of the recent sale of Greene King to CKA Asset Holdings (Hong Kong).Greene King Shareholder Vouchers are discount coupons issued exclusively to shareholders which offer discounts and packages on hotel bookings as well as food and shopping items from a wide range of retailers.

What are Greene King Shareholder Vouchers?

Greene King Shareholder Vouchers are discount coupons for shopping and hotel accommodation for Greene King shareholders who have accumulated 100 or more points. These points are considered for issuing vouchers in September of each year.

How do I use my Greene King Vouchers?

You can use your Greene King Voucher by redeeming your coupon code through these steps:

  • Choose your product, select the add to cart option and move ahead
  • Write the Greene King Promo Code mentioned in the previous step somewhere or just copy it with a right click
  • On the last page for checkout paste your voucher code before completing the transaction
  • Now select apply code and you can use your discount

Where can I spend my Greene King vouchers?

You can spend your Greene King vouchers on the following active discount options available:

  • 2 Classic Pizzas for £12 or 2 Romana Pizzas for £15 when you Dine-In | PizzaExpress Club App Offer
  • Save even more by staying longer at select Greene King inns and hotels.

Stay 2-4 nights with breakfast included and save 10% OR stay 5 nights or more with breakfast included and save 15%!

  • GIFT A ROUND

You can get drinks for a colleague or family member with “Greene Gift Cards”

  • Buy a Craft Beer Session Case for £27.5
  • Buy ice breaker Pale Ale for £1.8
  • Buy East Coast IPA Pint glass for £5
  • Safe an extra 15% on Sitewide
  • Buy old speckled hen for £1.85
  • Free Booking Cancellations at Greene King
  • Free Delivery of Orders over £60 at the webshop
  • Upto 35% off at GK Elite Gymnastics Leotards and Apparel Clearance 
  • Upto 20% off on walmart
  • Upto 50% off at GK Elite
  • Upto 40% off when buying GK Elite products at Ebay

How do I get a refund from Greene King?

You can get a refund on Greene King products within 14 days

The items you are returning back need to be in an acceptable condition

What happened during the sale of Greene King to CKA Asset Holdings?

Greene King was sold last year to Hong Kong based company CKA. The Valuation of assets in the UK sold to the company along with Greene King have been confirmed  This evaluation of Greene King’s assets which is mandatory prior to sale was made on 21st April 2021. 

On the request of the Directors of CK Asset Holding a valuation of 2,677 freehold was calculated. 

Greene King is a completely claimed auxiliary of CK Asset Holdings Limited (“CKA”). 

The valuation has assessed 992 of the Public Houses and the Additional Properties and made important enquiries and researched to get extra information.

Greene King Properties are located across England, Scotland and Wales.The Portfolio includes public houses, hotels, and restaurants , operational breweries, an office building, and industrial premises. The total current rent liability for the leasehold Properties of Greene King is £45.6 million per year.

Greene King operates 1,674 pubs across the UK. These Greene King pubs are household brands in the UK such as Hungry Horse and Chef & Brewer. The Retail Properties generally have a higher level of sales and profits. Many of the Greene King staff are located in town centres or prominent roadside locations.

All of the staff are employed by Greene King, and the economic risks and benefits associated with their employment have been personally acknowledged by them.

There are a total of 997 pubs, which are leased to third party operators under a variety of different types of leases and tenancies.Greene King usually receives a fixed annual property rent and a wholesale profit from controlling the supply of beers and other drinks supplied to the tenant for resale. 

The Pub Partnership Properties tend to be smaller and located on suburban or village land. The levels of sales and profits for Pub Properties are generally lower than those for Hotel Properties. The revenue from the Pub Property is shared between the Hotel Properties and the Retail Properties of Greene King.

The Public Houses range in size and nature from downtown area structures where the construction takes over the entire site, to those with broad vehicle parking zones and gardens. Most have private convenience for the administrators or for local residents, and the Portfolio includes pubs and more high end estates.

The Additional Properties incorporate two purpose built breweries. These include structures of different ages, which are completely prepared and functional locales delivering different brews available to be purchased through the Public Houses and other retail channels

What is the valuation methodology used for (Greene King) Public Houses?

The Valuation methodology used for Greene King Public Houses is explained as follows.The Valuation has been completely based on the Market Value of the freehold or leaseholdThe valuation accepts that the Public Houses are sold to CKA Holdings with the advantages of records easily available to the buyer.Every Property has been assessed separately, having respect to its specific condition and location based qualities.

The COVID-19 pandemic has achieved different brief terminations of public houses across the UK, prompting a suspension of incomes for the proprietor and administrators. 

The Valuations of the Public Houses depend on a survey of pre-COVID surveys, and Greene King’s assessment of the Fair Maintainable Trade.

For the 1,674 Retail Properties the Valuation depends on the fair viable working benefit

. For the 997 Pub Partnership Properties (which are rented to outsider administrators) the Valuation depends on the total Fair Maintainable Trade lease, discounts on drinks and other free services which are reported to the owner.

When the FMT incomes to Greene King have been laid out, an all danger yield is used  to deliver a capital incentive for every public House due to the losses suffered because of COVID-19 limitations.

The decision of yield is made utilising the tantamount strategy by investigation of deals of comparable exchanging resources, both separately and in bundles.

The Greene King Breweries have been valued utilising the Depreciated Replacement Cost strategy, which is normally utilised for resources that are extremely seldom, if ever, sold except as a component of an offer of the entire buying package of which they comprise

The workplace and distribution centres are evaluated utilising the practically identical technique, supported by the speculation technique. 

The essential determinant for these properties is the (Greene King) capital value per square foot.

What Assumptions have been made in the asset valuation of Greene King UK assets?

We have assumed that all Greene King Properties have good and marketable titles. The properties are assumed to be in good condition, have been adequately maintained and equipped to undertake their normal trading operations. The properties are also  compliant with all relevant codes, planning rules and licensing laws.

All Greene King plants and equipment are free from lease, hire purchase or loan requirements. Having regard to the current COVID-19 pandemic and the temporary closures and trading restrictions which have been imposed on pubs, we have made the following Special Assumptions:

  •  That all Properties can, and will, reopen when permitted and when economically viable • That there are no exceptionally high costs associated with such reopening. 
  •  That the supply chain can deliver adequate supplies to each Property to allow it to reopen
Property TypeFreeholdLong LeaseholdShort Leasehold Total
Public House2,2081103532,671
Brewery2002
Industrial 3003
Office1001
Total2,2141103532,677

There have been no deductions made for Capital Gains Tax, VAT or any other form of tax in the valuation of Greene King Assets prior to the company’s sale. 

As prompted by CKA the potential tax liability which would emerge on the transfer of a Property, is calculated in the Greene King valuation. This valuation of Greene King’s assets includes Organisation Tax at 19% on any profit earned on the transfer of the freehold or leasehold interests 

The new buyer of Greene King, CKA holdings has no plans for sale of the property houses or other property acquired from Greene King.

How does the aspect of material valuation uncertainty influence the present value of Greene King assets?

The aspect of material valuation uncertainty influences the present value of Greene King assets in relation to the outbreak of COVID19 (across the world).

The outbreak of the novel coronavirus (COVID-19), classified by the World Health Organisation as a “global pandemic” of March 11, 2020 had a deep impact on global financial markets. As have the travel bans implemented by many European countries.

The “public housing sector” was closed (as of April 2021) to contain the spread of the virus.

Market activities have been impacted in many sectors, including the hotel industry, where from the date of notification, public houses must remain closed. As on the “date of valuation” we consider that we may place less weight on past market data for comparison purposes to a judgement about price estimates.

The company’s current response to COVID-19 means that it is facing an unprecedented array of risks regarding circumstances on which a judgement is based. Our valuations of Greene King Public Houses are therefore presented on a “material valuation uncertainty” basis.

Consequently less certainty should be attached to our assessment than would normally be the case. Provided the unknown future impact that COVID-19 may have on the real estate market. We recommend that Greene King keeps the “valuation of properties” under regular review to ensure that any changes are fairly valued.

Conclusion

This blog post addressed the question “Greene King Shareholder Vouchers?” Greene King shareholder vouchers are issued to shareholders of the company with more than 100 points. These vouchers offer discounts at shopping outlets, hotels, restaurants and bars. The current financial year has been a bad one for the UK economy and also specifically for many of Greene King’s businesses related to the hotel and restaurant industry.

Please feel free to comment on the content or ask any questions in the comments section below :

Frequently Asked Questions (FAQs) :Greene King Shareholder Vouchers?

Have Greene King Shareholder Vouchers been extended? 

Greene King has extended the expiry date on all Greene King shareholder vouchers.

In the event that you hold a voucher dated “May 2020”, “June 2020”, “July 2020” or “August 2020”, you will recover it as per the current terms & conditions of the schedule, until 30th November 2020.

 You need to use the pub finder on the Greene King website to discover its outlets close to your location. Greene King has been working hard on the new Pub Safe guarantee to make sure that you receive the best quality of service possible.

What is the Greene King Wacky Warehouse?

Greene King Wacky Warehouse is a place for your children to have parties with food and special diets. The food ranges from specially selected healthy foods and more conventional easy snacks. The party environment includes specially planned events and music.

Greene King family cafes are also located next to Wacky Warehouse surroundings and can be another enjoyable experience for your kids after their party. Green King Wacky Warehouse has been active since 1994

What has been Greene King’s response to the crisis in Ukraine?

Seeing the devastating actions taken by the Russian forces in Ukraine’s cities, Greene King is very worried about the humanitarian catastrophe created by these actions. The company is helping Ukrainians all over the world to find shelter and refuge. 

Greene King has been donating items to Ukraine for humanitarian use through Greene King pubs .It is eager to begin to offer employment opportunities to Ukrainian refugees arriving in the UK.

After the outbreak of the Russian invasion of Ukraine, Greene King decided to stop exporting beer to Russia. Now it has also disallowed the import of Russian goods into the UK.

Citations

Greene King website

Greene King Voucher codes and offers

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