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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Johnston Press | JPR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
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|---|---|---|---|---|
| 0.00 | 0.00% | 2.745 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 2.745 |
| Top Posts |
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Posted at 22/10/2018 17:03 by dave4545 If you were a genuine investor or just simply a genuine person letmepass I would not bother to post here.Honestly if you were to go to the nearest bridge and jump off it head first onto concrete I would jump for joy. I utterly detest pump and dump scum like you, your trail of destruction on this site over the years is truly shocking. I would estimate that you have pumped and dumped over 500 stocks that now are either not here or have lost over 90% of their value |
Posted at 23/8/2018 16:25 by mshilos STOP PUMPING THIS AND TRYING TO FOOL FIRST TIME INVESTORS..THIS IS ONE TURKEY OF A STOCK...AND THE BUSINESS COULD GO BUST ANY DAY NOW !! DYOR |
Posted at 30/7/2018 01:08 by spmc Yeah there’s a good article over on UK Investor:hxxps://uk-investor. |
Posted at 27/7/2018 11:35 by letmepass Institution investors bought at 6000p. I think 200p ain't bad |
Posted at 27/7/2018 10:50 by bob1995 Shares bought at 6000p by institutional investors. Just think 600p |
Posted at 26/7/2018 11:57 by modus operandi YES HENCHARDTHEY KNOW AS THEY WILL BE COMMENTING ON THIS If you still can’t access the site after whitelisting printweek.com, please email printweek.newsdesk@m The PrintWeek team LOGO Global Sites:UKDeutsch AUS/NZ India MEA Search in RSS TWITTER LINK FB Bulletins Subscribe Signin Advertise Home News Product Portfolio Knowledge Bank Community Reports Video Events Fespa Awards Jobs Johnston investor threatens legal action in event of pre-pack By Rhys Handley, Wednesday 25 July 2018 Be the first to comment Johnston Press has been threatened with legal action by its largest shareholder over rumours that the company may be pre-packed after its shares fell to an all-time low of 3p. christen-ager-hansse Ager-Hanssen: prepared to take action if "speculation among investors" is true The business, which publishes titles include the i newspaper, the Scotsman, the Yorkshire Post and around 200 regionals and locals, has been in months-long discussions on how to refinance £220m worth of debt in high-yield bonds, repayable on 1 June next year. With its current share price giving the company a market capitalisation of £3.9m, Swedish investor Christen Ager-Hanssen – whose Custos Group holds a 20% stake in Johnston – wrote to the board, in a letter seen by the Daily Telegraph, to address “speculation among investors” that the publisher could be placed into administration and sold on through a pre-packaged sale. He said legal action would be taken if the speculation was revealed to be true. The letter is understood by PrintWeek to be Ager-Hanssen’s first communication with Johnston since November last year. Ager-Hanssen wrote: “Of course, rumours swirling the market may be entirely false. But there are also rumours in the market that leaks have been made on purpose to manipulate the stock price to fall sharply which have as we know happened lately and damaged significant shareholder value. “I am concerned that market manipulation may be at play and/or that information may have been leaked specifically so as to enable a pre-packaged sale on terms not in the best interests of the company. “Please be aware, if formal insolvency and a sale of the business are in effect a serious game plan, my position and intervention must absolutely be considered.” Johnston Press confirmed receipt of Ager-Hanssen’s letter over the weekend and pledged to respond to him directly this week. The company urged its investor to present a “workable proposal” in order to refinance the business. One option floated by Johnston last month was to offload its pension scheme to the Pension Protection Fund, which would then hand control of the business over to its largest debtor – US hedge fund GoldenTree. However, no decision has been confirmed so far. In a statement, a Johnston Press spokesperson said: “In March 2017, we announced a strategic review of the financing options in relations to the £220m bond that is due for repayment in June 2019. “A number of potential strategic options are being considered by the company and its advisers which we expect to discuss with stakeholders in due course. We have updated the market on a number of occasions. No decisions have been taken and we are not going to comment on market speculation. “We announced in April that the business had EBITDA of £40.1m in 2017. It had cash at bank of £24.6m at the end of May. We announced on 5 June that the business was trading in line with expectations. “If Mr Ager-Hanssen does have a workable proposal to refinance the business, we look forward to receiving this and we will invite him to provide more detail.” Shares in Johnston Press have fallen at a steady rate since February 2015, when they stood at £1.72. The company’s peak came in April 2007 at £4.82 per share. In May, chief executive Ashley Highfield announced he would step down from the top job at Johnston Press after nearly seven years to become a non-executive director for “family reasons”. He is set to be replaced by his chief financial officer, David King. !!!!!!!!!!!!!!!! |
Posted at 05/6/2018 12:45 by mitch74 The full article from the Tele:"Johnston Press is in talks about a deal that would hand control of the newspaper to a US hedge fund and jettison its underfunded pension scheme. It is understood that the publisher of the i, The Scotsman and more than 200 local titles is in debt restructuring discussions that include plans for a Regulated Apportionment Agreement (RAA) that would offload its pension scheme to the Pension Protection Fund (PPF). The restructuring, which has not been agreed, would mean Johnston Press would fall under the control of GoldenTree, the main owner of the £220m debt pile. The bonds are due for repayment in June next year and the publisher has said that it will not be able to refinance them in a tough local newspaper market. It is now in discussions with GoldenTree and pension trustees towards an RAA. The Pensions Regulator and PFF rarely approve such a manoeuvre and only when the alternative is insolvency. Johnston Press has a pension deficit of £47m on liabilities of £609m. If agreed, an RAA would allow GoldenTree to take control and jettison pension liabilities without triggering a potentially damaging administration. To win approval from the regulators the hedge fund would need to make a payment into the pension scheme. John Ralfe, the independent pension expert, said: "An RAA requires a cash contribution bigger than the PFF would be able to recover from an insolvency procedure". Such discussions leave ample room for wrangling over the value over the potential financial outcome of a hypothetical administration, however. GoldenTree has built up a powerful position in the discussions over the future of Johnston Press by buying up the bonds at a discount. The publisher is value at less than £9m on the stock market as equity investors have pulled out. The first details of a potential debt-for-equity swap have emerged as the Johnston Press board prepares to face remaining shareholders at its AGM in Edinburgh today. The will avoid a confrontation with its top shareholder, Norweigan entrepreneur Christen Ager-Hanssen, after he revealed plans to boycott the event. Johnston Press has been working with advisers from Rothschild on restructuring options for 18 months. Chief Executive Ashley Highfield is due to bow out today to be replaced by finance chief David King. Johnston Press declined to comment." Hate to be negative (!) but how on earth is ANYONE going to emerge from the current situation with anything of value?! |
Posted at 06/5/2018 21:30 by brink1 From the Sunday Times today:hxxps://www.thetimes "The activist shareholder seeking to take control of Johnston Press, the owner of The Scotsman and i newspapers, plans to increase his stake in the troubled publisher following the departure of chief executive Ashley Highfield last week. Christen Ager-Hanssen, whose investment vehicle Custos is the largest shareholder in Johnston, said he intends to increase his holding of 20% to 29.9% ahead of the Edinburgh company’s annual meeting next month. The figure is just below the 30% threshold at which he would have to launch a takeover for the company through a cash offer to other shareholders. Ager-Hanssen said: “I’m very happy Custos succeeded in influencing the board to remove ‘Cashley’ Ager-Hanssen had stepped back from trying to launch a takeover of the group, which would have installed former Scotland first minister Alex Salmond as chairman, after an attempted boardroom coup was ruled out on procedural grounds. Salmond’s involvement was also criticised by other shareholders. Ager-Hanssen refused to comment on whether he would seek to have the politician appointed if he gained control of Johnston. Highfield unexpectedly quit amid attempts to restructure a £220m bond that the company must repay in full in June next year. Johnston warned investors last month that, without a deal with its lenders, the company’s future was in “significant doubt”. Most of the debt is owned by the US hedge fund GoldenTree. A spokesman for Johnston insisted Highfield’s departure was for family reasons and to allow him to pursue an alternative career as a board director of other companies. Highfield earned more than £800,000 last year, including pension contributions of £115,000. The figure also included a bonus of £249,000, which will be paid only if the company survives the current debt negotiations. Sources close to Highfield defended his seven-year tenure at Johnston, pointing to the success of the i newspaper, which Highfield bought for £24m in 2016. Highfield will formally relinquish his post at the annual meeting to Johnston finance director David King. A City insider said: “King is the right man for the job. Ashley talked a good game, but there was never any substance. The i wasn’t going to move the dial in terms of the company’s debt, and the debt needs to be resolved if the business is to survive.” Ager-Hanssen said: “I don’t know King. We’re open-minded to find solutions in the best interests of shareholders, but clearly he’s part of the mismanagement of this company that has destroyed shareholder value.” Last month, Johnston posted a 9.5% drop in full year revenue. The company said there were signs of improvement in print advertising but warned it would need to cut costs against a “difficult backdrop”. Johnston has spent £3.4m — about a third of its current market cap of £9.7m — carrying out a strategic review with bankers from Rothschild and lawyers from Ashurst." |
Posted at 23/4/2018 17:55 by mitch74 Some interesting comment from Evil Knievil:Johnston Press (JPR) used to have a big private investor following. Nowadays, at 9.5p, it is capitalised at a trivial £10 million. But that conceals a huge £220 million debt problem which must be settled next year on or before 1st June 2019. Can they do it? I for one do not know the answer to this question but I am beginning to think that there is a fair chance that they can. My basic reason is that JPR is making money and that therefore bondholders may be prepared to switch to equity to get back what they can. The likely alternative is liquidation which means the loss of perhaps £500 million of tax losses and liquidation expenses* of the order of £10 million (my guess). These two factors alone surely justify going for the debt-for-equity swap even if it sticks in the craw for bondholders in effect rescuing ordinary shareholders. I leave aside holders of preference shares where intriguingly the board has stated its intention to pay arrears of preference dividend even though there is no legal obligation to do so – presumably because not paying the preference dividend might affect other covenants and agreements. On Tuesday the results for calendar 2017 emerged. Central to its hopes is the online version of the Independent, known as the “i” – the hard copy of the Independent has fallen away. The CEO, one Ashley Highfield, freely acknowledges the problems and has to keep all parties – advertisers, readers, and, above all, debt holders – happy. The “i” is a high-quality product – just try it (inews.co.uk). And stay ahead of its advertising figures. I think bondholders might be pleasantly surprised in relation to where they are now. It would be nice if one were able to see a trail of bargain prices actually recorded for both the bonds and the preference shares. I’ll contact the company and ask. * Incidentally, there are ways of retaining the tax losses through hivedown. But the benefiting vehicle would have no quote. So that option does not appeal. Over to Rothschild and Ashurst (for a fee of course). hxxps://masterinvest |
Posted at 26/10/2017 20:32 by mattab Those employees left have had to invariably dodge the axe probably half a dozen times and can only speak for those I came into contact with - left few months after AH arrived - took redundancy and moved on. Nearly 20 years employed there and on the whole really decent and hardworking people who have been picked off and put down the road through no fault of their own - jobs and careers came to an abrupt early end. Those at the top milking massively for abject failure. Take AH’s tenture what he has got since at the helm and the massive destruction of shareholder value and still there due to the poison pill - which no doubt he and cohorts insisted upon as well as getting a massive bonus when the last bond deal was settled. Teflon man - king of spin anyone having researched Share valuation when he arrived taking into account RI should have pulled him apart on air. If they could get rid of the board think of the huge combined payoff as well as the cost of the debt restructure they have employed. Shareholders mean nothing to the JPR board as they are protected. Unless it happens via the bond route. What a fantastic job they have done with AH at the helm of self preservation - in that respect you have to hand it to them. The two activist investors - muted the two investors don’t think are working together. Well reputations of them on the line here - but it can be the case of another bond deal via those employed by JPR or refinance and more of the same destruction of shareholder value albeit ain’t much left. Not invested but really do hope this does come good in the end for all invested particularly LTH who must be massively underwater. |
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