Independent News & Media Share Discussion Threads

[caveat_emptor] 30/8/2013 08:00

A lot here to like, and I see a general level of
optimism amont the broker community.
Steady as she goes, and all with no divvie from down under.

[caveat_emptor] 16/8/2013 08:35

APN produce strong results and share price up 20%
Augurs well for the reconstruction plan.
Davy's view results well received.

[caveat_emptor] 10/8/2013 05:47

Confidence seems to be oozing out of these people...

[caveat_emptor] 29/7/2013 09:20

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Competition clearance for disposal of INMSA received
DAVY VIEW

Competition clearance for the disposal of INMSA in South Africa was largely seen as a formality given the acquirer's limited media interests. However, it does mark the end of the first stage of the debt restructuring process and shows tangible progress towards the goal of reducing INM's net debt to c.€118m by year-end.
First stage debt restructuring complete

Independent News & Media (INM) has announced that it has received approval from the South African Competition Commission for the disposal of Independent News & Media South Africa. Competition clearance was the final hurdle in this stage of the disposal process and completes the first stage debt restructuring as previously outlined to the market. The disposal is expected to yield net proceeds of c.€148m.

The second stage of the restructuring will see the group implement a restructuring of its defined benefit pension scheme. The deficit in the scheme at end-December was €162m.

After completion of stage two, the group will aim to raise at least €40m in equity and implement a €10m debt equity swap. On completion of all these stages to the satisfaction of the lenders, it has agreed to write off c.€150m of the group's remaining debt, which at the end of 2013 should result in target net debt for INM of €118m.

[caveat_emptor] 29/7/2013 08:34

Monday 29 July, 2013
Indept. News & Media
Competition Clearance for Disposal of INMSA
RNS Number : 3298K

[caveat_emptor] 14/7/2013 14:03

Roman Abramovich linked today with INM ......

[caveat_emptor] 22/6/2013 10:01

Has the 40m price been decided yet?

[caveat_emptor] 19/6/2013 06:56

Shareholders approve disposal of INM South Africa

Yesterday (June 17th), INM shareholders approved the proposed disposal of the group's South African business (INM SA). The disposal now must now receive South African competition commission approval; however, this is unlikely to prove a stumbling block given that the acquirer (Sekunjalo Independent Media Consortium) does not currently have media interests. INM has agreed to sell INM SA for a consideration of R2bn which, at the time of the group's full year results in April, was expected to yield c.€148m,
net of fees. However, given the significant recent weakening of the South African Rand against the Euro, at current exchange rates the disposal is now likely to net closer to c.€133m.
The next major milestone in the restructuring process will be for INM to attempt to reach agreement with staff and pension trustees over a negotiated reduction in the group's defined benefit pension scheme. At the end of 2012,
the deficit in the scheme amounted to €168.4m (assets €245.5m,liabilities
€413.9m). If these negotiations are successful,INM will, later in the year,
attempt to
raise c.€40m in new equity by way of a rights issuea nd then implement a
€10m debt equity swap. On the basis that everything goes to
plan, the group's banking syndicate will write off €138m in outstanding debt. Successful completion of the restructuring process should see INM's net debt reduced to c.€115m at end 2013, down from €422m at end 2012.

[caveat_emptor] 16/6/2013 10:35

Interestingly Moneybags in Phoenix this week, prints a 2 page re-assessment of
INM, calling it undervalued.

[caveat_emptor] 23/5/2013 07:14

23 May 2013

Daily Mail and General Trust plc (`DMGT')
Half Yearly Financial Report for the six months ended 31 March 2013
Good underlying performance - Full Year outlook unchanged

[caveat_emptor] 22/5/2013 08:10

Hiring new staff!

[caveat_emptor] 02/5/2013 11:01

APN today....................

· We are focused on reducing debt

· We will continue to reduce costs

· We are rejuvenating our products and identifying new revenue

· We are driving the performances of all our businesses, and

· We are connecting our audiences to our transactional businesses.

[caveat_emptor] 26/4/2013 10:09

With 550m shares issued this £40m rights looks
realistic....DOB's 30% pretty secure....providing all the other parties
subscribe to the overall deal!!!

[caveat_emptor] 25/3/2013 08:00

LBO...you spend most of your life trawling the papers and the media
generally, you must know!!

[caveat_emptor] 25/3/2013 07:57

Did I miss the "recent speculation in the media"...coz the
speculation I read about was a fortnight ago......
must have been some more yesterday?

[caveat_emptor] 12/3/2013 18:29

Bilgewater

[lbo] 12/3/2013 16:40

LOL

Has the debt changed since Feb 20th!?

[caveat_emptor] 11/3/2013 16:13

Bit late are'nt you?

Quoting a widely read article from FEB 20th?

Find something positive to post for a change.....
it might actually help your moodswings!!!

[lbo] 11/3/2013 13:08

the equity is worthless!

[caveat_emptor] 08/3/2013 20:06

Interesting in depth article on INM from The Phoenix analyst
this week.......
Bottom Line....
If the banks and the employees shoulder the burden with
shareholders, the share price will end up at a multiple of where
it is now.

[caveat_emptor] 03/3/2013 09:23

"......INM, which is trying to reduce its borrowings to less than three times earnings."

[caveat_emptor] 03/3/2013 09:19

Latest on our wee Dobbie!!!


Interestingly, I was not aware of how concise the INM
pain target actually is?