Share Name Share Symbol Market Type Share ISIN Share Description
Reach Plc LSE:RCH London Ordinary Share GB0009039941 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  1.00 1.02% 99.00 233,405 16:35:28
Bid Price Offer Price High Price Low Price Open Price
98.80 101.00 101.00 95.00 95.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 723.90 -119.90 -41.00 299
Last Trade Time Trade Type Trade Size Trade Price Currency
16:57:53 O 20,748 95.481 GBX

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Date Time Title Posts
29/7/201804:18Reach (RCH) One to Watch on Monday -

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Reach Daily Update: Reach Plc is listed in the Media sector of the London Stock Exchange with ticker RCH. The last closing price for Reach was 98p.
Reach Plc has a 4 week average price of 87p and a 12 week average price of 80.70p.
The 1 year high share price is 104.60p while the 1 year low share price is currently 54p.
There are currently 302,192,924 shares in issue and the average daily traded volume is 255,334 shares. The market capitalisation of Reach Plc is £299,170,994.76.
kazoom: Well that shows what I know about price movements then (not much!) I presume they are taking a look at some the JPI regionals (it might prove a challenge to get a takeover of "the i" past the CMA). It's always been on the card imho as strategically it would be a good fit with the strategy and I can't imagine the current owners have much aspiration to hold long term. I'm not entirely sure though that it is worth a massive uplift to the share-price though. The value of any deal will to a very large degree depend on the price. Opinions differ on how good the management team are at achieving a good price - personally I've been reasonably comfortable, although others feel they have tended to over-pay. Anyway given how undervalued I believe Reach to be anything that brings them more to peoples attention has to be a good thing. Could well be a fair while before we hear too much more however.
harry_david: I am amazed. The institution that is selling obviously is reading a different report from the one available to me. Here we have a dividend that exceeds 6p and authorised to increase by up to 10% per annum on profits that cover it multiple times. Furthermore it is obvious that even in the worst situation going forward the dividend is safe for at least 5 years. That alone on a discounted basis makes the shares worth more than the current price. Add to that the residual value in the print side and growth continuing in digital which now must be contributing a good figure to profit and you have a share price at the end of five years that will still be over 50 p.
gfrae: Hi Cjohn, The pension fund will gain if shares are bought back as it will allow the company to retain more of it's earnings which could subsequently be used to give to the pension fund....if the pension fund are sceptical then perhaps there could be some agreement reassuring them. What is good for the company is good for the pension fund. Secondly, I would argue that the current share price is much lower relative to it's fundamentals than it was when it was 25p. Thirdly, without making things too complicated, it would immediately increase eps. Fourth, if Reach were offered the opportunity to buy another newspaper company at less than two times earnings, with little debt, and generating substantial cash I think they would buy why not buy their own shares ?
cjohn: Hi Cityconindex, I've never believed boards should be held responsable for short or médium-term share price movements. In the long run, share prices reflect the economic value of the underlying business; the duty of the board is to maximise economic value. So it seems to me you're on much stronger ground there, criticising the board's inability to stem declining economic value. The whole sector is in serious decline; any management would find it very difficult. Sometimes this management have hastened the process by ill-thought out decisions however, which partially reflects a lack of coherent strategy. As one example, they and the previous management have been poor at capital allocation: eg failing to buy back shares when the share price languished for months in the 20s and 30s, (at that time well below intrinsic value) in spite of kind suggestions from myself and other then holders. Instead they went for it at a daft price of 100 a few years later: brilliant waste of shareholder funds. Likewise the nunmerous false steps in digital with valuable capital wasted on mediocre and hapless businesses - the feeble Communicator, and various other no-hopers. In general, they have been way too starry-eyed about digital. The impossible "We will grow digital to more than replace lost analogue revenues" standing in the way of a deep re-think of strategy. Likewise, they've rightly acquired analogue assets, but have been poor negotiatiors. They over-paid for the second tranche of Local World and for Express and Star. (In contrast, the first tranche of Local World was a fine deal.) So i'm largely in agreement with you. Have a great day.
trident5: I think JP's fate has been weighing on the share price here and that if Reach do not buy it - the price could start to move up (general gyrations notwithstanding).
kazoom: You're welcome gfrae, always happy to contribute in the saner corners of ADVFN. Due credit has to go to cityconindex though for finding the story in the first place. I was obviously being a bit paranoid to think that the price would get away from me overnight (especially as the story has been out for over a week), it didn't so I bought back the part of my position I sold a while back. I'm tempted to go "extra-large" in the short term (although it is contrary to my current strategy so I'm still struggling with that decision). Why? > We know this transaction is real. Even in the post truth world of fake news and alternative facts, it seems pretty clear. > It seems highly likely to be "material". > It also seems highly likely to be at a surplus to book value - it has probably been sold with planning permission, this story from January at least indicates they applied for PP : Https:// > It hasn't been RNSed and the share price has not moved materially since the story broke, so despite the story being in the public domain I am taking a view that it is not really in investors minds at this time. However : > Given all of the above, I just cannot understand why it has not been RNSed at this stage, so I'm concerned I might be missing something. > That said, yesterday's trading update and Reach's history of boringly reliable earnings, suggest that the downside is limited in the very short term. Hey hoy, I feel in a bit of a halfway house with this - if I'm right I'll be kicking myself for not "going large" and if I'm wrong I'll be kicking myself for backing a 'hunch' (albeit I think a well reasoned one). Feeling glass half empty for some reason.
gfrae: There are no buybacks and none planned.As Twixy says there are likely to be opportunistic acquisition opportunities in the near future and best to keep the powder dry. The share price will sort itself out over time.
gfrae: The market cap of Johnston Press is now only £3 million odd, so ,it may be that this one is also coming to a head soon, if so , presumably we will be, or are involved. Is this why the share price is weak ?
cjohn: hi Harry, Vijay hasn't GIVEN them the 12 months. He's on a 12-month notice period and the company has (rightly) insisted on that. This is a non-story. The share price is down, possibly as a result, so for anyone wanting to buy in, it's an obvious entry point.
Reach share price data is direct from the London Stock Exchange
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