Share Name Share Symbol Market Type Share ISIN Share Description
Johnston Press LSE:JPR London Ordinary Share GB00BRK8Y334 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 14.375p 13.50p 15.25p - - - 3,848 06:33:37
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 222.7 -300.3 -234.5 - 15.22

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Date Time Title Posts
15/11/201718:25Johnston Press Recovery 20098,199
02/3/201714:06Johnston Press recovery again13
04/2/201310:34I BUY SUPERGLASS-
03/9/201007:50Johnston Press with Charts and News10
26/1/201010:04JPR-

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Johnston Press (JPR) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
13:26:2514.003,848538.72O
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Johnston Press (JPR) Top Chat Posts

DateSubject
20/11/2017
08:20
Johnston Press Daily Update: Johnston Press is listed in the Media sector of the London Stock Exchange with ticker JPR. The last closing price for Johnston Press was 14.38p.
Johnston Press has a 4 week average price of 12p and a 12 week average price of 12p.
The 1 year high share price is 31p while the 1 year low share price is currently 9.50p.
There are currently 105,877,777 shares in issue and the average daily traded volume is 85,412 shares. The market capitalisation of Johnston Press is £15,219,930.44.
26/10/2017
15:06
mitch74: During the radio interview he is asked, assuming he left today, whether he had left the business in a better shape than when he started. He says that the day he started the share price was at 4p and the debt was over half a billion pounds. He then says that he sees JPR as a growth story after the bond restructuring is completed...
16/10/2017
08:37
albert zog: This company has higher debt now than after its last refinancing ! And until recently the share price was c10p. Read the report and accounts and find any reference to shareholders, or the share price. Two brokers, two lawyers, Rothschild, registrars, and the rest. So the situation is unpalatable. I suspect the last straw for many was also the crazy cash bonus plan mooted for Cashley this year.
16/10/2017
07:47
ianio5691: Starting to get decent press coverage now.... http://www.cityam.com/273879/back-horse-without-jockey-johnston-press-under-fire-second Monday 16 October 2017 12:15am 'Who will back a horse without a jockey?': Johnston Press under fire from second biggest shareholder seeking to oust chair Rebecca Smith The second largest investor in Johnston Press, hoping to oust its chair, has criticised the board as failing to represent shareholders, and saying "they just take out the fees". Christen Ager-Hanssen, whose private equity firm Custos owns the Swedish Metro newspaper, plans to seek an extraordinary general meeting of Johnston Press shareholders to oust chair Camilla Rhodes, on Thursday. Read more: Johnston Press share price rises though profits continue to decline Ager-Hanssen told City A.M. he had support from both shareholders and staff, and was confident the resolution will secure sufficient support. "Who will back a horse without a jockey?" he said. The businessman wants to install himself at the head of the board to kick start a shake-up at the newspaper publisher. He has been speaking to shareholders including Richard Bernstein, head of the Crystal Amber activist fund, which is Johnston Press' biggest shareholder. In May, Crystal Amber criticised the firm's remuneration policy and performance share plan proposals at Johnston Press' annual general meeting, with Bernstein saying an "all hands on deck approach" should be adopted, rather than thinking about bonuses. "Bonuses should be based on success," he added. Today, Ager-Hanssen said: "What this company clearly needs is to move all its energy into creating the digital ecosystem of tomorrow. You can never cost cut yourself out of a problem. You need to grow." He thinks the company needs to optimise the existing digital assets, and "reposition the offering towards advertisers by offering definitive marketing prowess", setting up "substantial transactional processes in new and sustainable branches of business". Ager Hanssen's investment fund Custos previously outlined plans to refinance the firm's £220m bond debt. Johnston Press has been working with advisers in its own restructuring effort, with the debt due for repayment in June 2019. Last week, the firm said it was in talks with bondholders about the potential formation of an ad hoc committee as part of the company's ongoing strategic review. Johnston Press' chief executive Ashley Highfield said at the time that the firm was making "good progress" on its strategic review, and the bondholder talks marked "an important step in moving things forward". Johnston Press could not be reached for comment.
13/10/2017
08:49
debbie_does_dallas_twice: On reassessment of the situation it would seem that the ridiculousness of trade reporting translated one 3.5 million sell and one 3.5 million buy as 6 seperate trades over 3 days?? What we now suspect is that CA allowed Custo's to increase his stake to take on the incumbent and pathetic bod! One really encouraging aspect to Custos is that quite clearly he is determined to increase the value of the share price . I bought back 75k yesterday in 3 x 25k trades and will we looking to add on further developments. this could really ve transnationals for JPR. The existing bod had written of the equity,ready to surrender it all to pension and debt holders.. Custos will fight for shareholders. The price now looks very cheap with custos set to annihilate the croney capitalists on the bod and implement his restructuring plan! Very bulish news.
08/10/2017
15:57
netcurtains: Obviously the shares do have a value: 16p a share on Friday. This 16p will rise with more news on such subjects as a) more big sales of titles (like Scotsman) or b) more purchases by "big Investors" (nordic or CA or a.n. other) or c) more news like TNI tie-in or d) more printing contracts to print copies of Daily Mail or other newspapers or e) i circulation or adverting revenue increase or sunday edition printed or f) Share graph shape since June 2016 is a double bottom or g) the Big one - News on debt refinancing Short to medium term there are more stories that could send this share price north then there are ones to send it south... Hence the share price has value. Take this snippet from yesterdays Daily Telegraph: Johnston Press, Trinity Mirror’s rival in the regional market, is seeking a debt restructuring as a Norwegian investor builds a large stake. Trinity Mirror, which will provide a trading update tomorrow, declined to comment.
06/10/2017
07:33
netcurtains: I have to say I agree with Maffa. For CA to make money on their investment the share price will need to be 50p or more (because when they sell the share price will fall - so price needs to be significantly higher than they paid - not just the odd penny or two)... The question is how does CA get the price to 50p and does Custos have the same plan? Who are the BIG debt owners? Who owns the debt? That is the part of the jigsaw that is missing. Are they the same people who are selling the shares?
24/9/2016
08:05
mattab: http://www.bloomberg.com/news/articles/2016-09-23/activist-said-to-seek-bond-restructuring-at-johnston-press I have sold crystalising a very healthy profit within a short timescale. Wishing all holders the best of luck. Seems CA are pushing for the bondholders to take a 30 per cent haircut. I recall the bondholder price as I think circa 50 per cent at the lowest was it MRX? The price has obviously moved up since the share price surge. Bondholders are highly likely to be far from impressed. Equity versus bondholders and JPR divestment awaiting news still on non core asset sales. It will be a race to sell and receive the monies from these sales to buy JPR bonds at the largest discount JPR with this in the public domain. The buyer(s) of the asset sales also know this and as JPR are looking to get a decent discount on the bonds will know JPR perhaps will accept low offers as JPR can get a discount with monies received on the bonds. The above news is nothing that is not in the public domain just that CA are wanting JPR to sell the non-core assets which JPR have already stated their intentions of anyway. This suggests to me that they are not locking horns and seem to be on the same side wanting the same strategy. Therefore they are not trying to oust AH and have a BID lined up in their strategy to force value, IMO which is why I sold and crystallised my profit selling into strength. Why couldn't JPR sell non core - total the monies received and buy the bonds back at a much steeper discount then inform the market that is what they have done? That would have a much more pronounced effect on the share price. It is kinda like playing poker with your hand shown at the table with all players knowing the full situation. Certainly value here for holders. Still awaiting RNS holdings but doubt CA will take their holding to 10 percent and force an EGM, think many new PIs in this at varying levels of recent weeks with the shifts, surges and pullbacks of the share price creating trading opportunities. ATB
09/8/2016
11:12
stdyeddy: It seems incredible doesn't it daz? But, look at the bonds - the spread has narrowed and the bonds now stand at HALF the face value. jpr's bond debt is currently valued at half of the original £200m; right now that's just over £100m without them doing anything! They've wiped £100m off their debt just by telling the market that the business is in bad shape. The value of the company comprises the debt (total liabilities)and the assets together (recently devalued) and this is expressed in terms of the share price. The worse the businesses prospects, the more the bond debt value goes down and paradoxically, jpr's financial situation becomes better (on paper). As the business prospects go down and the bonds go down, the current value of the business actually goes UP but the share price currently doesn't reflect it, because the potential for exploiting the debt reduction has not materialised plus the share price should reflect the long-term earnings potential for the business. This divergence between asset value and share price can't continue. Something is going to give.
06/8/2016
12:39
stdyeddy: Repeating yourself could be a sign of Alzheimers, so yes, you might be mad Matt. It's tempting though, to average down. I'd like to follow your example but unfortunately jpr tends to have a unique bounceless quality, more like a sack of cement than a rubber ball. Regarding the bonds Extratrader - you are right and I've made this point several times here. The mark-to-market value of the debt gives a false impression of the liabilities. However, the reason why buyers might not prefer the bonds is the obvious risk of default. When the bonds mature, jpr could reach an insurmountable crisis, fold and pay pennies to the bondholders. Project the earnings decline forward just three years and where will the business be? Will jpr be able to issue a new bond if the revenue prospects are far worse than what we are seeing today? Will a rights issue then be the only avenue for raising cash to pay off the bonds? Will the major shareholders finally give up at this point and reject a rights issue? Did Tindle take up his rights in the last rights issue? (I've forgotten but I think the answer might be 'no'. Someone please correct me and reference the evidence if this is wrong.) 2019 could be the point where the 'orderly default' described a long time ago by one visionary commentator on jpr, finally turns disorderly and as mali suggests, they switch off the lights. If the business carries on in its current form, that future scenario looks horrible, because we are not seeing any sign of a turnaround and everyone recognises this as a 'sunset industry' transforming to a fundamentally different low-value digital earnings model which will be unable to support £200m in debt. So most people posting here are looking and hoping for a resolution which works today - the temporarily discounted value of the bond debt represents an opportunity to clear the debt while the earnings appear high enough to justify a £130m investment (2 or 3 years earnings). And that is the reason why I'm so unhappy that Ashley and his team have not taken even a small bite out of the debt pile when they're getting 3 for 2 (£10m paid for bonds with a face-value of £15m), to demonstrate their determination to work this down over the next two years to maybe £100m, creating a more manageable cash raising project for 2019. Debt reduction was a stated key aim in the last annual report and they've broken this promise. IS THE i WORTH THE BROKEN PROMISE? Why has debt reduction been abandoned? Presumably because the i represented an opportunity at £24m which jpr couldn't resist. Now this would make sense if they can demonstrate the earning potential of the i and its impact on the overall group earnings as greater than the comparable effect on the debt. £24m spent on the debt pile now could have wiped out £36m in bond debt plus 5 interest coupons (8.625% annual interest, paid in two installments annually - 2 and 1/2 years left on the bonds) which I make roughly £7.7m in interest by the end of the term (2019). Will the i make more than £20m for jpr in that period? (£20m being the £12m current discount on the bounds plus the interest saved.) LACK OF COMMUNICATION Ashley's blithe spin on the 'transformational' effect of the i seems typical of his attitude to communicating with the investment community. I'd like to see hard numbers on what the i is achieving for jpr. Either those numbers aren't good or AH doesn't see it as important to have the shareholder community onside. Presumably the larger shareholders are aware of the wider plan if there is one. Understandably AH sees the share value as part of the debt pile in terms of the total enterprise value and consequently big moves on the shareprice don't register as a big move on the value of the whole business - the shareprice is unimportant; £12m market cap today (shareholder equity) against £205m in debt. And if the bonds move down, even that's good if there's a plan for buying back bonds in the near future. We are in the dark and I think it will stay that way. The deals for jpr's future will be done by the major holders and us PIs will simply need to be lucky and in the right place at the right time to make any money here. In the meantime the share price is an irrelevance as said by daz and others. It could be 5p or 15p or 1p depending on whether there are any chumps willing to buy and sell. jpr's board probably couldn't care less.
14/7/2016
23:15
stdyeddy: So the answers are coming. Who is selling £150k of jpr a day? Revera Asset Management Limited. They appear to have paused today, so perhaps they're just limiting their exposure, but if we see large volume tomorrow/Monday, we might assume they're getting out altogether. They might have another £400k to go. What do they know? Well they've evidently taken a bad hit and probably lost more than half their stake. If they owned 5% of the business they've got an insider's view of what's going on and they don't see it getting better. They could be wrong, but as a major shareholder they've been able to pick up the phone to Ashley anytime and ask him why their investment is evaporating and what is he doing about it. I find it troubling that they don't like the answers enough to hang around. The next question is, who is buying apart from daz, mrsx and the handful of new correspondents here? (My coin-jar purchases are too small to count.) We don't see a pattern of stake-building do we, because the transactions are too small and varied. So is the answer, just us private investor chumps? Am worried about your takeover thesis at this point mrsx, because if there were ever a moment to be stake-building at jpr, now is it - one ii selling out and the price on the floor and sterling on the floor too. Next Jim Chisholm - this report of his has been getting a lot of coverage. Roy Greenslade has reprinted Chisholm's main points and I have to say they look hard to argue with, even if the details are partisan and selective. The last time I noticed Greenslade writing on jpr, he was too stupid to understand that a rights issue had depressed jpr's share price. Since then however, Ashley and co have managed to get the price back down to 17p post-consolidation 50 to 1. Greenslade can dust off his old piece on share price destruction and this time it'll stand up. Anyway, the main thrust of Chisholm's argument is that Ashley H and his team have performed poorly compared to their peers at Trinity and elsewhere, as evidenced by the slow growth of jpr's digital revenue and loss of quality in their news product, and that this has translated into devastating share performance. Well Ashley's team hasn't got everything wrong but on balance, I think Chisholm has a good point. Revera Asset Management must think he has about a million good points. So is this the beginning of a planned, concerted campaign to show that jpr's management team are rubbish and that a takeover at ANY price is what's needed to turn jpr around? And then the asset-strippers predicted by Mali walk in for 30p, sell off the i, Yorkshire Post, Scotsman and the printing presses to their friends, pay themselves huge salaries and bonuses, sell the hollowed out jpr trunk to a Dominic Chapell type chancer who sits on it for a few months and then folds it, and the bondholders get a few pennies in the pound back and the shareholders get nothing? Or is it simply that jpr's management team ARE rubbish and somebody's said so in writing? Or is it something else? I'm looking at that empty jar in my kitchen and wondering if it'll ever be full again.
Johnston Press share price data is direct from the London Stock Exchange
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