Independent News & Media Share Discussion Threads

[caveat_emptor] 12/6/2012 09:31

Hello.....ABLBO?

Figure it out!!!

[caveat_emptor] 11/6/2012 16:48

LBO...you're a real bundle of laughs!!!

[lbo] 11/6/2012 08:26

The Irish Independent wrote on Thursday about how Mick and his son had doubled their salaries even as their company was facing financial difficulty in 2008. Hmmm. What about the company which is balance-sheet insolvent, which owes its banks €427m, has declining sales, haemorrhaged shareholder value in the past year, which has a nasty pension deficit and which made a loss of €41m in 2011? That company paid its departing CEO a golden handshake of €1.8m. And the name of that company? Why it's Independent News and Media

[lbo] 11/6/2012 07:42

BANK OF Ireland considers Independent News & Media to be one of its "most challenged corporate relationships", according to a file note of a meeting on April 5th between the bank

[caveat_emptor] 09/6/2012 12:28

If anything GOOD to say can be found in that RNS....
I'm sure you will find it!!!

[lbo] 09/6/2012 08:08

INM currently has a pension fund deficit of around €148m and net debt of nearly €428m

[caveat_emptor] 08/6/2012 16:43

Well, it is as it may be.

But you have to question the Irish Takeover Panel,
sitting on the fence and watching the two boys act
in concert to effect a majority.

When do people act in concert and when do they not?

[hermana3] 08/6/2012 16:10

A wee smell of burning garlic as insiders ossie and buggy thrown into corporate ditch.Fatty O'Brien now firmly in charge and will they now have to find a chair large enough for his posterior?

[hermana3] 08/6/2012 15:44

Where is update on dumping of chairman and cfo?

[hermana3] 08/6/2012 13:27

O'Reilly got a whopper of a cheque to go quietly. Must have the goods on someone....

[lbo] 08/6/2012 13:23

Talk of rights issue

[caveat_emptor] 08/6/2012 13:20

O'Grady says....

[lbo] 19/5/2012 15:24

Independent News & Media has given a downbeat outlook for the rest of this year on the back of a 3.5% like-for-like fall in group revenue for the year to date.

[hermana3] 19/5/2012 13:30

number cruncher crowley will be hard pressed to get revenues up! Wonder who fatty has in mind to revitalise this ailing yoke?

[lbo] 18/5/2012 10:16

Indo group revenues slip in year so far

[caveat_emptor] 17/5/2012 04:32

Big is'nt always beautiful...........

[lbo] 15/5/2012 10:45

under the terms of the restructuring which saw eight banks roll over some €745 million of debts, the following condition was included in the agreement: "If one or more persons acting in concert gain control of the company (control being defined as 35 per cent of the maximum number of votes that may be cast at a general meeting of the company), a lending bank is not to be obliged to fund further utilisation and can declare outstanding borrowings immediately due and payable."

What this means is that no one can take control of INM without the approval of the banks unless they can refinance its debts.




Among the documents supplied to the High Court yesterday was a letter from Denis O'Brien to former INM chairman Brian Hillary on July 21st 2011. Mr O'Brien outlined criticisms and called for a new chairman and CEO to be appointed. "In my view, Vincent Crowley would be an ideal replacement for our chief executive," Mr O'Brien added. "Vincent has all the ability and experience required to immediately assume the role."

Mr Hillary stepped down to be replaced last October by lawyer James Osborne. In March, Mr Osborne informed Mr O'Reilly of contacts he had with Bank of Ireland, a major lender to the company, and Dermot Desmond and Mr O'Brien, both shareholders.

Pat Gaynor for Bank of Ireland agreed to proposed changes to the company's debt arrangements, but said "substantial changes to management were required", Mr Osborne's memo states.

[caveat_emptor] 15/5/2012 09:54

When is acting in concert, and pulicly doings so,
not acting in concert......

[caveat_emptor] 15/5/2012 09:47

Don't forget Investec could easily have said...sell INM now,
and reinvest in APN.