PRESS DIGEST - British business press - Nov 5

The Times

CHANGE AT THE TOP OF MITCHELLS & BUTLERS

Mitchells & Butlers (MAB.L) is seeking a new non-executive director who could potentially take over as chairman in the next few months. Drummond Hall, chairman of the pub and restaurant group since last June and a non-executive director since 2004, has indicated he intends to step down after finding the role more time-consuming than he expected. One former colleague said: "If he decides to step down, it'll be because he feels the company is back on its feet, with its debt sorted out, a new chief executive appointed and the board restructured".

WETHERSPOON FORGES AHEAD WITH EXPANSION PROGRAMME

JD Wetherspoon (JDW.L) announced it is to continue with plans to open 40 outlets in the financial year, despite a dip in trading. In a first quarter trading update, the pub operator reported a 0.3 percent increase in like-for-like sales in the 13 weeks to Oct. 25, down from a 1.2 percent increase in the first six weeks. The company opened seven new pubs during the 13 week period and total sales, including the new pubs, increased by 4.5 percent. Wetherspoon Finance Director Keith Down said he expected to begin talks soon concerning the refinancing of the group's 435 million pound debt facility and that he expected the debt to be replaced on a like-for-like basis.

Tempus

Rightmove (RMV.L) [Hold on]

Afren (AFRE.L) [Buy]

Alterian (ALN.L) [Tuck away]