Itv Share Discussion Threads

[blackhorse23] 13/3/2024 19:13

ITV intends to hold the purchased shares in treasury. Purchased has been done for directors remuneration. Not for shareholders interest

[stansmith1] 13/3/2024 19:12

Is no one buying?

[loginname] 13/3/2024 19:02

Everyone needs to stop saying stuff like this. Literally Google it.

“Shares held in treasury: voting rights are suspended, dividends are not paid.”

[lovewinshatelosses] 13/3/2024 18:49

I also wonder why they are holding them in treasury, rather than just cancelling them? Well, I know the likely answer, but do not want to sound cynical, having finally got back into profit on my holding here.
I assume the dividend payments also end up in the treasury pot, or does something else happen to those payments? Would have preferred them to be cancelled, but give me 80p a share, and I will ponder it no further! GLA.

[smurfy2001] 13/3/2024 18:45

Wonder how much morgan stanley are making on these buy backs?

[blackhorse23] 13/3/2024 18:35

ITV intends to hold the purchased shares in treasury. Purchased has been done for directors remuneration

[jonnybig] 13/3/2024 18:30

RNS out! Itv have today purchased over 2.8 million shares! YIPPEEEEE!😁

[vlad the impaler] 13/3/2024 18:09

Wondered why this lifted earlier. Couldn't have been investor interest 😂

[tlobs2] 13/3/2024 16:42

Don't bother responding to Black@rse he's just a wind up merchant wit a few screws loose. Get him filtered.

[millennialinvestor] 13/3/2024 16:27

You litterally typed it. "From 7th"

Usually means it happens after such date...

[blackhorse23] 13/3/2024 15:53

Why they told buy back from 7th but looks like buy back has been cancelled

[tlobs2] 13/3/2024 15:33

If it's like yesterday it'll be a strong finish into the close during the last hour like yesterday.

[loginname] 13/3/2024 15:00

… or £235 million even (!)

[loginname] 13/3/2024 14:58

netcurtains: Its all OK - The BBC is short of cash and wrote a post dated cheque...


Strictly speaking that would be fine!
The RNS tells us Morgan Stanley are buying the shares - and then selling them to ITV (when? Who knows exactly).

So the real question is - does MS have £235 sitting around? I suspect yes.

[smurfy2001] 13/3/2024 14:15

Yeah so many companies are buying back shares, hasn't had much of an effect. NatWest have bought back near 30% of it's shares and the price hasn't really gone anywhere.

Hope it has a positive effect here but not counting on it.

[royston6] 13/3/2024 14:15

Kelso29...you read too much into this, if you bought these when they were 57p end of last month, pre announcement, you could sell today for 71p or a gain of 24%. I think that's a very good result.

As some have already said, the buyback info is now old news and it isn't going to move ITV up...only more positive info or numbers or a flood of other buyers will move it up anymore.

[netcurtains] 13/3/2024 14:03

Its all OK - The BBC is short of cash and wrote a post dated cheque...

[kelso29] 13/3/2024 13:55

Does look fishey to me. I've never known a company announce buybacks and they don't happen. Giving a weeks notice was also odd and don't get me started on the freakishly long end date of Aug 2025!
Maybe they haven't got the money from the BBC yet?

[davius] 13/3/2024 10:39

It's had a good impact on LLOY too, though they are buying back £2bn in shares.

Be good to see an RNS showing it's started here.

[mancman1] 13/3/2024 10:05

It looks to me that the announcement of the share buyback has worked very well. On Feb 29th the shares closed at 55.94. They have gone up by around 25% since then. OK it is a combination of factors, including a fairly favourable UK market, but the announcement has been a contributory factor. I would imagine that they are in no hurry to actually buy any shares, maybe wait for a dip in the market.

It is amazing how many companies at present are buying back shares - among the companies I follow Barclays, HSBC, Shell, BP Man, and a lot of Investment Trusts, BNKR, HFEL, MWY, RCP, SMT, VOF. In contrast BIPS which trades at a premium periodically sells new equity.

[slater5] 13/3/2024 09:49

Net, Pearson's performance warrants the rise. ITV are up 20% in month and that's due to the BritBox sale and a better all round outlook.My point is the share price will rise on organic growth, the recent rise is now baked in! It could take ITV years to buyback the shares they have indicated. Look at the volumes, nobody is selling!

[netcurtains] 13/3/2024 09:35

slater5: PSON - Pearson is about 25% up since buybacks began.... But also it has blistering results.... So I guess the two do make a double whammy..

Its the same story with REX (I dont hold that one)..

[slater5] 13/3/2024 09:22

Anyone here invested in Lloyds? if you are, the Lloyds buyback when announced sent the share price up 10%. It was a rise that lasted days. The share price then fell back and the buyback did zero for it. I know ITV isn't Lloyds, but buybacks generally don't send the share price up, results and events do.ITV should have rewarded shareholders with a special dividend, this buyback is window dressing.

[loginname] 13/3/2024 08:40

… and more like half a billion shares needed total - factoring in the open shorts that need to close at some point ( eg 2% of the 4bn shares in issue )