Itv Share Discussion Threads

[blackhorse23] 08/3/2024 09:48

7th March yesterday but no buy back,

[marksp2011] 08/3/2024 09:47

The engagement started yesterday it is up to MStanley when and what they buy

[jonnybig] 08/3/2024 09:44

Like you say, thebutler, some are too thick to understand!

[tlobs2] 08/3/2024 09:43

You don't half post some $hite Blackhorse.

Which part of this announcement do you need explaining? Which part of seventeen months are you struggling with? Rome wasn't built in a day.

The Company has entered into a non-discretionary instruction to Morgan Stanley & Co. International Plc ("Morgan Stanley") in relation to the purchase by Morgan Stanley, acting as riskless principal, of Shares for an aggregate purchase price of no greater than £235 million and the on-sale of such Shares by Morgan Stanley to ITV. Purchases of Shares pursuant to the Programme will take place during a period starting on 7 March 2024 and ending no later than 29 August 2025 (the "Engagement Period"). Under the Programme ITV will purchase Shares from Morgan Stanley on the London Stock Exchange. Morgan Stanley may purchase Shares on the London Stock Exchange, the Aquis Stock Exchange and CBOE Europe. The purpose of the Programme is to reduce the share capital of ITV.

[blackhorse23] 08/3/2024 09:30

Group debt is 535 million with high interest, loss of revenues, buy back & dividends likely to cancel & subject to shareholder approval . Some reasons they didn't start buy back yesterday as mentioned RNS . That's misleading shareholders

[geckotheglorious] 08/3/2024 09:26

thebutler

Buyback naysayers could also be Dividend investors who want a Dividend raise/a special divi rather than a buyback.

Both the former two are immediately beneficial, and visibly so, to a dividend investor. A buyback is not so much, especially as any buyback stock price rise is often subsequently sold into so in terms of personal stock holding the said investor is no better off from his specific stake valuation.

Clearly you're too thick to entertain this option.

Personally I'd prefer an overly indebted company to pay off more debt than do a buyback as well.

Such isnt "being thick" but perfectly sensible imo.

You also don't entertain this option either!!!

[huckers] 08/3/2024 09:20

thebutler. Nicely explained. There are some entrenched views on buybacks. Whether they are a good use of money entirely depends on the circumstances of the particular company. With ITV, it makes complete sense.

[thebutler] 08/3/2024 09:14

The shareholders are effectively the company's creditors (that's why some balance sheets are presented as "liabilities and equity") so buying back the shares is akin to paying off a loan, in itv's case a 7% (current dividend yield) "loan" which is also non tax allowable so it's equivalent to an approx 10% gross interest. So it's more cost efficient to buy back the shares as long as the debt is comfortably serviced and the dividend comfortably covered.

I've explained this many times on different BBs but either the buyback naysayers are too thick to understand or they don't want to because they're shorters with an agenda.

[kelso29] 08/3/2024 09:14

So, no buybacks yesterday, will they do any today? Interesting as they deliberately did the RNS last Friday to give the market advance warning that they would start yesterday.
Find out if there has been any changes in short positions regarding yesterday, later on this afternoon.

[davius] 08/3/2024 09:04

A good few years ago, Bradford and Bingley offered a £10K maximum investment at 4% fixed term over 5 years. Our mortgage rate was at 3% at the time. We increased our mortgage by £20K and each put £10K into B&B. £100 a year each, free, for doing basically nothing.

Debt is not an issue, provided the interest (and preferably more) is covered by profits from the business generated by the debt.

A buyback for ITV is a good idea. A special dividend would have been great short term but gone forever once paid. A buyback increases the inherent value of each share in the company, and should result in increasing dividends by the same percentage.

[american idiot] 08/3/2024 09:02

Blackhorse...

Buy back £235m of debt for £235m

OR

Spend the £235m buying back seriously undervalued shares

Which is a better deal for shareholders ?

[american idiot] 08/3/2024 08:58

Two broker TP upgrades so far today...

JP Morgan raises target price to 112p from 105p

UBS raises target price to 76p from 68p

[tlobs2] 08/3/2024 08:58

Another deluded shorter.

[blackhorse23] 08/3/2024 08:52

Well they did mention , buy back from yesterday but NO BUY BACK unless cancelled. I also don't understand group made loss then buy back rather than pay off the debts. NOT make any business sense

[blackhorse23] 08/3/2024 08:26

No share buy back yet? is that cancelled?

[american idiot] 08/3/2024 08:25

Diku,

Talk of FTSE 100 isn't gonna happen...



ITV are way down the list...

ITV PLC ORD 10P GBX 2,771.04

I suspect the shareprice will re-rate now based on fundamentals alone.

An improving AD market and solid growth in ITVX and Studios..

ITV is a great recovery play...

[jonnybig] 08/3/2024 08:24

70p busted! Next stop 80p

[blackhorse23] 08/3/2024 08:24

AIM market lol

[loginname] 08/3/2024 08:23

Yes, it’s all online.

On 27/02 ITV was at FTSE position 139 and would need a market cap around £4.3bn for re-entry into the FTSE-100.

[huckers] 08/3/2024 08:16

I believe there is really no uplift in terms of forced buyers when going from the 250 to the 100. Anything you think you see is entirely due to the preexisting order flow that has raised the 250 company to the point where it is then promoted. That order flow continues once in the 100. And vice versa with demotion.

[diku] 08/3/2024 08:14

Does anybody know where is ITV in FTSE ranking?...I mean position number outside FTSE 100...if speculators, momentum traders and hedgies get in possible re entry in FTSE100 next quarter...

[loginname] 08/3/2024 08:10

I’m going to stop refreshing the RNS page now…

Seems fair to say the MS buyback did NOT actually start yesterday as we all assumed.

[diku] 08/3/2024 08:06

Isn't this the same MS who put spanner in the works and had lower price target for ITV?...

[jonnybig] 08/3/2024 07:54

Yep,this is gonna motor even better than RR. Hang onto your seats guys! 😁