Johnston Press Share Discussion Threads

[bob1995] 26/7/2018 12:30

400% would be nice

[complex machinery] 26/7/2018 12:29

I think the bear squeeze will accelerate in the close.

Company has already stated they will respond to the Swede shortly

[nick rubens] 26/7/2018 12:26

What a difference a day makes, so to speak.

I remember STY equity did 400% from it's lows on a deal with holders of debt.

[cricket] 26/7/2018 12:18

Spike looks imminent!

[bob1995] 26/7/2018 12:15

Fear.. Someone paid 9p to get out

[cricket] 26/7/2018 12:15

Cashley's libtard SJW city scum pals will be scrambling to keep some profit and exit here!

[the white rabbit] 26/7/2018 12:10

the rats are ripping agaist each other to run via dma? LOL

[cricket] 26/7/2018 12:08

Do not be fooled- the pressure is not the direct buying, it's the creeping orders on the bid side of the DMA by the shorts that are squeezing it up.

[the white rabbit] 26/7/2018 12:07

someone paid a massive premium to close the short.

Most probably others are lining up at the escape doors, but the the doors are closing rapidly.

Can Jpr take on the billionaire biggest shareholder 20%?

what about if he's buying in the market too now

[nicholasblake] 26/7/2018 12:06

Wouldn't want to be holding stock when massive debt for equity or administration announced.

[bob1995] 26/7/2018 12:04

Massive buy at 9p.

[modus operandi] 26/7/2018 12:02

Henchard most probably

[modus operandi] 26/7/2018 12:01

AND HE'S WORTH




Christen Ager-Hanssen
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Christen Ager-Hanssen
Christer Ager-Hansen Portrait. Photographer Johan Annerfelt.jpg
Born Christen Ager-Hanssen
July 29, 1962 (age 55)
Halden, Norway
Residence London
Nationality Norwegian
Occupation Venture Capitalist & Entrepreneur
Christen Eugen Ager-Hanssen (born July 29, 1962) is a Norwegian Internet Entrepreneur & Venture Capitalist and since late 90s based in London according to the press.[1][2][3][4][5] He is a highly controversial Venture Capital & Private Equity professional. Ager-Hanssen has been involved in several high profile M&A deals and has a special taste for public hostile takeovers.[2][3][6][7] In a cover story in Canadian Business, Canada´s leading Business Magazine, Ager-Hanssen was described as Gordon Gekko and a modern-day Viking. «In an age of 37, Ager-Hanssen rose from obscurity to become Norway's richest son, worth more than $2.5 billion in early 2000».[2][3][6][7][8]

Ager-Hanssen is also known for his insight on the Internet Industry and pioneering work in the movement to commercialize the Internet in the first and second part of the 1990s, including early experiments with search engines for the internet, Internet Infrastructure such as early experiments on Satellite Internet access, legal music distribution on Internet¢¢, Internet as the new desktop, Banking and financial services offered on the Internet, e-mail advertising, contributions to the development of the banner ad, practical applications of pay-per-click advertising.[2][3][6][7] Ager-Hanssen is a Venture Capitalist investing in potential unicorns and media companies through his investment vehicle Custos. He is the owner of the biggest newspaper in Sweden, Metro [9][10][11][12][4]

[henchard] 26/7/2018 12:00

Ah, thanks modus, RNS sometime soon then.

[modus operandi] 26/7/2018 11:57

YES HENCHARD

THEY KNOW AS THEY WILL BE COMMENTING ON THIS


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Johnston investor threatens legal action in event of pre-pack
By Rhys Handley, Wednesday 25 July 2018

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Johnston Press has been threatened with legal action by its largest shareholder over rumours that the company may be pre-packed after its shares fell to an all-time low of 3p.

christen-ager-hanssen
Ager-Hanssen: prepared to take action if "speculation among investors" is true

The business, which publishes titles include the i newspaper, the Scotsman, the Yorkshire Post and around 200 regionals and locals, has been in months-long discussions on how to refinance £220m worth of debt in high-yield bonds, repayable on 1 June next year.

With its current share price giving the company a market capitalisation of £3.9m, Swedish investor Christen Ager-Hanssen – whose Custos Group holds a 20% stake in Johnston – wrote to the board, in a letter seen by the Daily Telegraph, to address “speculation among investors” that the publisher could be placed into administration and sold on through a pre-packaged sale.

He said legal action would be taken if the speculation was revealed to be true. The letter is understood by PrintWeek to be Ager-Hanssen’s first communication with Johnston since November last year.

Ager-Hanssen wrote: “Of course, rumours swirling the market may be entirely false. But there are also rumours in the market that leaks have been made on purpose to manipulate the stock price to fall sharply which have as we know happened lately and damaged significant shareholder value.

“I am concerned that market manipulation may be at play and/or that information may have been leaked specifically so as to enable a pre-packaged sale on terms not in the best interests of the company.

“Please be aware, if formal insolvency and a sale of the business are in effect a serious game plan, my position and intervention must absolutely be considered.”

Johnston Press confirmed receipt of Ager-Hanssen’s letter over the weekend and pledged to respond to him directly this week. The company urged its investor to present a “workable proposal” in order to refinance the business.

One option floated by Johnston last month was to offload its pension scheme to the Pension Protection Fund, which would then hand control of the business over to its largest debtor – US hedge fund GoldenTree. However, no decision has been confirmed so far.

In a statement, a Johnston Press spokesperson said: “In March 2017, we announced a strategic review of the financing options in relations to the £220m bond that is due for repayment in June 2019.

“A number of potential strategic options are being considered by the company and its advisers which we expect to discuss with stakeholders in due course. We have updated the market on a number of occasions. No decisions have been taken and we are not going to comment on market speculation.

“We announced in April that the business had EBITDA of £40.1m in 2017. It had cash at bank of £24.6m at the end of May. We announced on 5 June that the business was trading in line with expectations.

“If Mr Ager-Hanssen does have a workable proposal to refinance the business, we look forward to receiving this and we will invite him to provide more detail.”

Shares in Johnston Press have fallen at a steady rate since February 2015, when they stood at £1.72. The company’s peak came in April 2007 at £4.82 per share.

In May, chief executive Ashley Highfield announced he would step down from the top job at Johnston Press after nearly seven years to become a non-executive director for “family reasons”. He is set to be replaced by his chief financial officer, David King.


!!!!!!!!!!!!!!!!

[shirley83] 26/7/2018 11:57

Sorry 486 k buy at 9p. Watch the afternoon highs

[ken chung] 26/7/2018 11:57

"Trading so far this year has seen Group revenues down 9%.........

The trading environment remains extremely challenging, exacerbated in recent months by uncertainty around future paper costs and the impact of GDPR on digital advertising revenues. We expect to see continued pressure on revenues in the second half of the year, and a requirement for cost savings."

[shirley83] 26/7/2018 11:56

400k at 9p paid. Wow