Johnston Press Share Discussion Threads

[mrx9000] 11/8/2017 06:24

Very interesting article, very revealing as well, I wonder what sort of level he is going to increase to? I agree in regard the share price decline recently to pick up shares for him,

[evil_doctor_facilier] 10/8/2017 07:49

106 mill shares in issue and Custos bought 5.5 mill making 5.14%

looks interesting.

[mrx9000] 10/8/2017 07:46

Yes 5% thought getting 14% was a bit much very quickly. He is pretty minted, we may see some interesting developments.

[extrader] 09/8/2017 22:37

Hi mrx9000,

I think the shareholding is 5.14%, presented as the Continental 5,14%......

ATB

[mrx9000] 09/8/2017 22:11

Certainly a quick 5% picked up and then increased to 14%, did he buy off another investor, if so we should see another RNS, this may start to get interesting...

[mitch74] 09/8/2017 17:57

An interesting development:



Custos Equity AS appears to be owned and managed by former internet billionaire and "Viking Raider" Christen Ager-Hanssen. This guy's Wikipedia page is remarkable (if only for the fact that he is the only person in the world to have successfully water-skied on one ski from Norway to Denmark). Seriously, you couldn't make this stuff up...

[glenkaz] 08/8/2017 18:01

Think it's on a run 20p imo! Nice rns! May buy in tomorrow 🤠👍

[evil_doctor_facilier] 08/8/2017 10:23

Jpr spike time? some decent buying late yesterday and this morning..

[nick rubens] 07/8/2017 08:38

This strategic review will have to conclude at some point. I would rather CA just took some good old shareholder action to bring in new management and/or get the company to buy back it's bond debt at a discount on the market.

[thevaluehunter] 02/8/2017 16:52

£1.3m already spent on the strategic review. Also not sure they can really classify restructuring as a one-off cost because it seems to be in there every time they report.

[mattab] 02/8/2017 15:24

Teflon man - is it beyond belief.

[thevaluehunter] 02/8/2017 12:33

I can't believe he gets paid for constant failure.

[thevaluehunter] 02/8/2017 10:34

Loss before tax of £10m and yorkshire post goes with the title - Growth in digital sees Johnston Press swing back to profit. Fake news. AH out.

hxxp://www.yorkshirepost.co.uk/news/growth-in-digital-sees-johnston-press-swing-back-to-profit-1-8681350

[nick rubens] 01/8/2017 14:55

Debt restructure is the key and I'm holding a few for that. STY multibagged when they restructured their preference shares a few years ago.

Other than that I'm, not sure what else.

[s34icknote] 28/7/2017 10:29

This seams to be no confidence left here ! Buying opportunity ?Sicknote

[lord c.] 24/7/2017 12:38

Hello my old friend Dazza,

The more I hear about JPR the more convinced I am that my long term view that there is no shareholder value is still valid.
Latest balance sheet valuations would appear to be a tad optimistic - for example I doubt if The Scotsman
would value up to a tenth of the hefty price JPR paid.
The market cap of the entire company is less than half the price JPR over paid for the I (an excellent 50p worth of read).
Refinancing this can of worms is not going to be easy especially when we read of at least twelve local (non JPR)titles which have gone belly up in the past three weeks.
Methinks Crystal Amber and Goldentree will be lucky not to get their fingers burnt.

[silvergreyhead] 07/7/2017 15:39

Hello anybody any idea why the drop in the share price today with such big volume not seen much on here about JPR for a while unless my system is not picking things up properly

[dazzaa] 05/6/2017 16:13

Hedge funds and restructuring experts are developing plans for a major consolidation of Britain’s local newspaper industry, using the debt struggles of The Yorkshire Post publisher Johnston Press as a catalyst.

The company’s lenders are understood to be in talks with management and shareholders about pursuing potential mergers with rivals including Trinity Mirror and Newsquest, which is owned by the US newspaper group Gannett.

Senior sources across the sector see further consolidation as inevitable and necessary to preserve what remains of local newspaper coverage. Local publishing has been ravaged by the shift of classified advertising to Google, Auto Trader and Zoopla, which has come alongside tumbling newspaper sales as readers move online.

The discussions are at a very early stage and may not directly lead to a deal. Restructuring the Johnston Press balance sheet is the priority. The potential for consolidation and cost savings in local media is nevertheless viewed by holders of Johnston Press’s £220m in bonds as a possible lifeline.

Hedge funds have bought up the debt at a steep discount as Johnston Press has struggled and the total value of its shares has collapsed to less than £15m. The bonds are due to be paid back in 2019 but Johnston Press has called in restructuring advisers from Rothschild to engineer a rescue plan.
A printing machine at a Johnston Press factory
A printing machine at a Johnston Press factory Credit: Newscast

The biggest bondholder, GoldenTree Asset Management, which owns Johnston Press bonds with a face value of around £70m, has the whip hand in discussions. The hedge fund has significant experience of local newspaper consolidation, having backed the merger of two major Canadian publishers two years ago.

Sources said that Johnston Press could pursue a merger with a rival UK publisher at the same time as restructuring its balance sheet. The fate of shareholders in such a scenario is not yet clear. A debt for equity swap is seen as a possibility, although investors could be asked to pump more cash into the company to participate.

Talks with major shareholders, led by the activist fund Crystal Amber, are taking place as part of the complex manoeuvring around Johnston Press. The 250-year-old company built up heavy debts in an acquisition spree prior to the financial crisis as it bought regional titles such as The Scotsman at top prices.

Nevertheless, Johnston Press recently acquired its first national title, the i, which has performed well and is likely to become more profitable once a printing contract with Trinity Mirror is up at the end of the year. It also runs a growing local digital advertising business, 1XL.

It is understood the company could update the market on its restructuring as soon as its next financial report, due in August.
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[brink1] 03/6/2017 22:05

This is interesting, debt restructuring with a possible debt for equity deal and a merger.

Very early days and not sure how true.

I see Crystal Amber are getting very vocal on Hurricane Energy recently as well.

[thevaluehunter] 02/6/2017 00:05

Why have they said they need the money for working capital purposes...they should already have the money from the East Anglia/Midlands titles sitting in the bank doing nothing unless management have already spent all of it. They need to use the money to buy back some of that expensive debt at a significant discount. Management are shambolic.

[dazzaa] 01/6/2017 16:17

Even the news on the sale raises no ripples on the SP

[dazzaa] 01/6/2017 16:15

My thoughts exactly on the bonus.

More concerning as you mentioned earlier is where the cash pile has been put, Hidden from sight it seems instead of practical use.

But what hope do we gather from directors that do not invest in their own company with their own money, I do fear eddy that unless AH and his cohorts are booted well away we will suffer another five years of limbo and as for amber, well I can't say, but disappointment may be in the vocabulary, let us see.

As said before why do the major shareholders retain their holdings not seeing any return for an expensive investment and still give them a vote to do the same again and again ?