Itv Share Discussion Threads

[vlad the impaler] 07/3/2024 18:58

Well well well well well

Buyback via MS

It's obvious you knuts ain't very familiar with the score of said historically

Dead duck this week

[jonnybig] 07/3/2024 18:56

The 10% buyback is usually a standard resolution passed by most (if not all!) Companies AGMs.

It may be that at itv's next AGM (May?) when the share buyback authorisation is renewed, the 10% limit may be reset to how many shares are in issue after taking into account shares bought back between now and then.

[loginname] 07/3/2024 18:46

Actually reading my own message back again - and knowing that Morgan Stanley will buy the ITV shares in market then sell them back to ITV ( per RNS ) - it struck me that perhaps the buyback share number cap was specifically engineered to ensure MS don’t achieve a 10% holding triggering various laws around controlling interests and voting rights…

[loginname] 07/3/2024 18:39

@EssentialInvestor it’s actually more than 8% …

RNS says “the maximum number of ordinary shares which may be purchased by the Company under the Programme is 402,500,000 Shares”

And ITV Investor Relations says “The companies issued share capital is 4,025,409,194”

I make that 9.99% !

Plus of course another 2%( 80 million? ) of shares needed to eventually close the open shorts…

[diegrootkrokodil] 07/3/2024 18:37

This will hit 170p before the end of August.

[hamhamham1] 07/3/2024 17:51

Nice day :)

[essentialinvestor] 07/3/2024 17:51

About 8% of the shares outanding to be cancelled - price dependent. Nice boost to EPS.

[spud] 07/3/2024 17:39

£24.67 in profit - Be still my beating heart.

spud

[cautios7] 07/3/2024 17:38

triky..always smart to play the long game. Good to hear you are in profit, patience as Warren Buffett says.

Stan, Goldfinger's 70p nearly spot on, now just that bid is needed. Sorry, I am filtered aren't I. lol!

[bedford1976] 07/3/2024 17:23

The ITV Plc homepage has had a refresh today looks quite smart and easy to read through the results.

[netcurtains] 07/3/2024 16:54

The Case for a short (1 month) to medium (6 months to a year) term investment in ITV

a) Sale of Britbox for a big pile of cash.
b) The Massive buyback
c) The budget giving good tax breaks to ITV studios
d) The results being "better than expected"
e) The Summer Olympics are going to crank up advertising.
f) The FTSE is at last beginning to come alive.
g) Potentially a very very slight recovery in 2024 in GDP
h) Really good figures for ITVx
i) Share price is near the bottom of its cycle..
j) A huge dividend
k) a low PE ratio

All added together probably means a few months (on and off) of share price rises in ITV..

[stansmith1] 07/3/2024 16:36

trikyim pleasant to people who have always been pleasant to me

[tlobs2] 07/3/2024 16:32

The shorters are currently less significant IMHO. The buy back via Morgan Stanley is what will take us North.

[marksp2011] 07/3/2024 16:28

The shorters dont need to buy, they can go long on derivs and wait it outthere will be better days to close

[trikytree] 07/3/2024 16:20

Pleasant as always Stanley!
I’m back above my break even BEFORE dividends so whilst it’s clearly not my best investment ever it’s still in profit. I’ll continue to hold (my now 556k shares) and watch how this buyback pans out, collect the dividend and start selling once it’s over a quid. I have time on my side so can wait even if it’s taking longer than I though.

[tlobs2] 07/3/2024 16:18

With a huge buyer in the market doing a paid job for ITV we will be continuing a rapid move north for many months to come, with possibly of an occasional minor blip.

[netcurtains] 07/3/2024 15:44

Fridays, of late, have tended to be quite good on the FTSE... So touchwood we might get another rise tomorrow

- but possibly a very slight pull back tonight. Cant be sure...

[tlobs2] 07/3/2024 15:15

Was it goldfinger that mentioned a share buy back? No thought not.

It was one of his friends of a friend of a friend who heard about a possible takeover whilst sat in a sauna that he has been banging on about, not the share buy back plan that has launched this recovery.

[huckers] 07/3/2024 15:13

It will be interesting over the next few days to observe the pace the buybacks are transacted. And if the short interest reduces.

[trikytree] 07/3/2024 15:03

Oh dear Stan. Not a good day for you. I hope you’re gonna apologise to your good friend goldfinger for laughing at his 70p prediction. I’d say we’re close enough now to that.
And yes I never said which Christmas. How about £1 by Easter. Easter 2024!

[bedford1976] 07/3/2024 15:02

Looks like ITV might get a Rolls Royce style of share price recovery.
Be good to see UK plc recover and prevent anymore foreign takeovers.