Johnston Press Share Discussion Threads

[obiwoncanary] 19/5/2017 12:19

Fill, get over it. I didn't realise you had exclamation mark issues. I'm just airing my views

[fillipe] 19/5/2017 11:30

owc, you're just digging a bigger hole to fall in.

f

[nick rubens] 19/5/2017 11:26

We've seen how quick the mkt cap doubled recently on speculation of some good news. I think there are lots of investors on the side awaiting to pounce on a positive restructuring deal. It's just how shares get valued, the biggest gains are made on the risky situations. I doubt CA are just taking a backseat punt.

Does anyone know what the Bonds are trading at?

[obiwoncanary] 19/5/2017 10:25

I just don't trust these auto news sites. They just churn out historic garbage

[fillipe] 19/5/2017 10:17

obiwoncanary
19 May '17 - 08:34 - 7842 of 7845 0 0
Liberum article is still dated 26th April!!

Careful, you're being so sharp you'll cut yourself.

I did write the words "today and reiterate" and Liberum have indeed today reiterated their former BUY and 80p target price - also without the need for exclamation marks.

You are just not looking hard enough.

f

[obiwoncanary] 19/5/2017 09:15

I'm far too loaded on this stock. As stated CA is my only hope.

[nick rubens] 19/5/2017 08:48

obiwoncanary Yes the shares would be diluted but they would carry less or nil debt( depending on how it's restructured) and being hugely profitable may have a market valuation in line with it's earnings.

I'm trusting that CA are correctly seeing value here and will await in anticipation, owning a few, but not a booty fill.

[stdyeddy] 19/5/2017 08:44

Amazing that the i is keeping the whole group afloat. I've noticed the ad pages in the i are virtually double what they were last year. And all of the management's efforts elsewhere are resulting in constant decline with no end in sight. Time for someone else to have a go.

[obiwoncanary] 19/5/2017 08:34

Liberum article is still dated 26th April!!

[obiwoncanary] 19/5/2017 08:32

Wouldn't a debt for equity exchange dilute the shares and reduce SP? Either way I would like some sort of resolution soon. The trading statement wasn't great. Fingers crossed next week will be the turnaround point. 30p seems a distant memory. What's your predictions for the week ahead. Any hope of a return to an share price in the high 20's?

[fillipe] 19/5/2017 08:30

Liberum today reiterate BUY and maintains tp of 80p.

f

[nick rubens] 19/5/2017 08:22

We know something is going to come at some point.

It would be in the Interest of the Bond Holders to take a haircut and then get the value back or possibly more in equity, instead.

I remember Styles and Wood with a Preference Share Issue burden that was resolved and the mkt value rose around 5 times almost immediately. It's possible that a good resolution will happen here.

[obiwoncanary] 19/5/2017 08:11

What do you rate the chances of a debt restructure being announced Monday?

[nick rubens] 19/5/2017 08:01

Crystal Amber are going to be the Key to any possible future here. This could be made more like TNI with the right amount of Debt for Equity restructuring and new management IMO.

[s34icknote] 19/5/2017 07:50

Trading statement out

[stdyeddy] 18/5/2017 23:14

dazz, I won't be able to make it unfortunately. I've run out of rotten vegetables to throw. Also I have tons of work on, which is always a relief when one is a jpr shareholding hobbyist.

[stdyeddy] 18/5/2017 23:12

You're completely wrong again lord c. Take a look at the Southern Cross Healthcare story and you'll see that Buchan will fit right in here. At least he knows how to resign, unlike the other pirates.

[lord c.] 18/5/2017 17:16

For all I know, Jamie Buchan the new non-exec director is a nice guy, however if I were selecting I would want someone with years of newspaper publishing experience to join the board.
JPR are, like it or not, in the business of publishing newspapers - not that they are very good at it.
Just to upset my friends on this site - to remind them that JPR have lost about 98% of their value since I first started to blog that IMO these shares have no shareholder value - a view that hasn't changed.

[dazzaa] 16/5/2017 23:59

Yes where indeed has the money gone, my first thought too but not long to wait till 22nd to I hope fireworks.It was I thought good to see the interim chairman move her pro AH stance a little. As you say eddy we need info, did you say you might be there ?

[stdyeddy] 16/5/2017 00:26

And where has the cash gone? They should be rolling in it. All those sales and no bond buyback. If that's genuinely the truth of it, then the business isn't even paying its bills. I don't see that at the moment - something's missing. Are they still waiting for the cash from East Anglia or is that not included in those numbers?

[stdyeddy] 16/5/2017 00:23

Dazz....! Thanks for this. Got my hands full with something else so I missed this historic strike. First blood drawn by CA - jpr can no longer do whatever it wants. A gentle push for AH and DK. Hopefully a harder shove will come next week.
Key knowledge that we need now in order to understand potential outcomes:
How much of jpr's bond debt does Golden Tree own?
What happened at Travelodge in the debt for equity swap?

Anyone out there with the answers?

[dazzaa] 15/5/2017 21:48

Eddy say something

[thevaluehunter] 15/5/2017 20:32

The board need to go - complete failures. Not sure why they were trying to increase their own pay in the first place.

[dazzaa] 15/5/2017 17:25

Shareholders have forced cash-strapped Johnston Press to cancel a planned increase in the bonus paid to its chief executive.

Despite the parlous financial position of the company, which owns The Scotsman and the ‘i‘ newspaper, the board intended to raise CEO Ashley Highfield’s bonus and pay it in cash.

It also wanted to increase the payout ceiling to chief financial officer David King.

London-based Johnston Press had planned to increase the top payout to 180% of Mr Highfield’s £430,000 salary, but under a new three-year remuneration policy this will be capped at 120%, still nearly half a million pounds.

Mr King’s maximum bonus will remain at 100%, against a proposed 165%.

Neither received a bonus last year after the company, which owns about 200 local papers, missed all its performance targets.

Mr Highfield’s total remuneration, including pension, was £556,000, plus share options with a face value of £537,500 that vest after three years.



The move by shareholders comes just a week ahead of the company’s annual meeting where the board may face further criticism.

Shareholders have been horrified by the company’s plunging stock market valuation which has left the company valued at just £15m amid fears that it will be unable to refinance its £220m bond debt.

Cash reserves have plummeted from more than £40m to just £16m last year.

Its biggest shareholder, the activist fund Crystal Amber, has called for Mr Highfield to be replaced and executive pay to be curbed.

The company’s adviser, Rothschild, is attempting to persuade bondholders to agreea restructuring that will convert some of the debt into equity.

[nick rubens] 15/5/2017 11:58

Need CA to be more like COC have just been at BLVN. Hopefully they are they are plotting something in the backround.