Share Name Share Symbol Market Type Share ISIN Share Description
Trinity Mirror LSE:TNI London Ordinary Share GB0009039941 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 85.70 85.00 86.00 0.00 0.00 - 0.00 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 623.2 81.9 23.0 3.7 259

Trinity Mirror Share Discussion Threads

Showing 7151 to 7174 of 7575 messages
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DateSubjectAuthorDiscuss
09/10/2017
18:07
This Trinity share price was c95p before the Express deal was announced. Now it's c80p. So the shares are down more than 15pc in a month and yet the deal would in theory be very eps enhancing. I reckon c20pc uplift to Trinity eps. So something stinks. The market doesn't like it and wants out. What is going on ?
albert zog
09/10/2017
17:59
It is one of the KPI's to increase it by at least 5%pa and so you should be fairly hopeful.
gary1966
09/10/2017
17:25
I hope they continue to maintain the divi.
freddie ferret
09/10/2017
17:25
I think what competitor newspapers say when it is rumor (ie no RNS) should be treated accordingly. I think the trading update was OK. The divi yield is now 6.9% and covered just short of 7 times. :) :) :)
freddie ferret
09/10/2017
17:14
LOL - one can hope so gfrae - he might then be in such a hurry to raise his bail money that he'd accept a lower price ;-)
kazoom
09/10/2017
14:47
Is this Desmond shorting ?!
gfrae
09/10/2017
14:19
Numis 09/10 Reiterates Buy Buy 210.00p Peel Hunt 09/10 Reiterates Buy Buy 190.00p Iterations today - with an average price of £2 PS. GLA.
foot in mouth
09/10/2017
13:35
Anyway more interestingly perhaps is the trading statement. Pretty much all of the trading statements for the last 2-3 years have described market conditions as either "challenging" or "volatile" - in fact I thought the last announcement was even slightly more downbeat (I think they used both of the words and for good measure threw in "difficult".) I was slightly concerned therefore that the Q3 TU might break the mould and fail to state confidence in delivering full year targets. (especially given they were relying on "second half will show improving revenue"). But lo and behold what do we see : The Board remains confident that performance* for the year will be in line with expectations. and why ? We are experiencing improving trends in nationally sourced print advertising revenues, though local advertising, particularly classified remain challenging and volatile. That I think is the most positive market outlook I have seen from them for ages. And even if you think it sounds a little grim , don't forget that as far as the world is concerned they operate in a rapidly dying market. So not withstanding what's going on with Northern & Shell, underlying performance is satisfied. Also don't forget the regular pattern of their quarter outlook statements still looks intact (in-line, in-line, in-line, beat) Happy days ;-)
kazoom
09/10/2017
13:20
You're probably right CJohn that the telegraph piece was just badly written and what you propose makes sense. So essentially we would assume inherit the scheme with no net surplus or deficit based on latest figures (lets pass on the discussion as to what other valuation methods are available!) If you wont mention the importunateness of include new shares in the deal valued in the 80s when the company bought them back at over £1 on average. Yes in hindsight that's not smart and to be fair your criticsm was before the event. But what else might have happened? The share price might easily have gone above the buyback price (as noted some analysts still think it worth c. £2, my valuation is certainly north of £1.) ; or the might have done a smaller deal (as they originally intended) which would not have needed new shares. Anyway we are where we are and that is certainly not disastrous. And gfrae I agree with the point that these shares would not go into "free float", there would probably be a lock in period for one thing, BUT they are still dilutive and invalidate the value that might have been tucked away in the buy back. But that wasn't actually why I expected the price to be down today, which was just a short term "prediction" (guess) based on the fact that the market seems gloomily disposed towards TNI and if you were looking for gloom you can take either (1) The dilution or (2) The fact that the deal could be blocked by the pension funds. On the second as I said previously I don't think this would be a hard deal to sell to either pension fund and as CJohn said that's probably just journo speculation especially given that they likely haven't put anything to the pension schemes yet. albert zog You are right to point out the difference between the pension deficit and the catchup payments (what you are calling the "funding deficit") . It's true that further movements in the deficit may not impact the catch up payments for up to 3 years , but as there is no sign that the catchup payments (even if the increase in the upcoming review) are crippling the company. And I think you are wrong with your conclusion. The deal as currently reported (remembering that everything is still speculative) would increase ongoing cashflow and increase the ability for TNI to be able to continue the fund the pension schemes ongoing. I would expect the numbers to be pretty clear on that and if the trustees looked to block it because they didn't like the extra debt they would actually be the ones taking a very short term view. I don't find that likely as everything I've seen so far suggests that the trustees have taken a very rational view in supporting the company - yes they've made sure they get guaranteed extra payments in the case of divis and buybacks but they allowing the business the flexibility to build.
kazoom
09/10/2017
11:32
The pension deficit is not the same as the funding deficit. One is for accounting, one is for cash flow. If interest rates go up, big if, the funding deficit will not change for some time, if at all. There will be no benefit to cash flow. If this deal happens, Trinity will have much bigger liabilities, but the market cap may not go up. Then the company will be dwarfed by its liabilities. Trinity pension trustees have to take a l-term view, unlike most other stakeholders who just want fees or a flip on the share price.
albert zog
09/10/2017
10:53
Harry the 2 brokers are saying average of 2 pounds a share . That's possible if rates increase and hardly any borrowings... so much potential..in the company. And a good point as usual.
cityconindex
09/10/2017
09:32
Nothing to do with recent news but interest rates are rising. What's more they are rising everywhere. Remember a half percent increase knocks the deficit by £140 million.
harry_david
09/10/2017
09:12
Kazoom, I don't think that is bad for the share price,if roughly correct. The only new shares being issued will be to Desmond,who will have his own idea of what the shares are worth and certainly wouldn't take them if he didn't think they had value. He wont be trashing the share price. It also means that anyone who has shorted the shares in anticipation of being issued cheap new ones will be disappointed. As you say the pension fund trustees will make sure that TNI does not overpay.
gfrae
09/10/2017
08:47
Update in line with expectations.
nick rubens
08/10/2017
23:39
I don't have access to the Times story, but a couple of key points from the one in the Telegraph. They suggest the deal is £60m of cash £30m of new shares to Desmond (about 10% dilution which is disappointing but not disasterous. & £40m cash earn out over 3 years. They then go on to say "Mr Desmond plans to immediately pay the same sum into the Express Newspapers final salary pension scheme, which at the end of last year had a £19m funding shortfall. " When they say the "same sum" I presume they mean the £60 up front cash??? That seems awfully 'generous' given the relatively small size of the deficit and I can't quite make sense of it. Either 1- Would Desmond still underwrite the pension scheme (so TNI don't take on the exposure), so the payment might make sense if he think it's going to grow. or 2- If TNI take on the pension liability then they are acquiring a scheme with a £40m surplus and the trustees still have TNI (include Express etc) on the hook for any future shortfall. I can't see why their trustees would be concerned in that case. Nor can I really see what Desmond gets out of the deal really. So this seems to point to option 1, unless I've completely misread this? As to the point that : "Trinity Mirror trustees have questioned the long-term wisdom of taking on £100m in new debt to ­expand in declining print markets. " I would not have thought it would relatively easy for the TNI board to demonstrate that even on downside cases this makes the company MORE not LESS viable. All a bit of a mystery to me. It's a good thing IMHO that the TNI trustees will very much press for TNI not to overpay, but on the flipside they might press for more of the deal to be done in shares rather than cash. Probably be bad for the shareprice on Monday in any case.
kazoom
08/10/2017
20:55
S. Times says there are problems with the Express deal caused by their pension funds. Similar to S, Tel. story.
gfrae
08/10/2017
16:57
Hi Freddie, I'm glad you liked the post, at least. all the best
cjohn
08/10/2017
11:58
Trading update tomorrow!
foot in mouth
07/10/2017
22:14
http://www.telegraph.co.uk/business/2017/10/07/pension-trustees-prove-roadblock-130m-merger-trinity-mirror/
smicker
06/10/2017
17:32
Not sure that I like you, however that was a good post.
freddie ferret
06/10/2017
12:39
The story about the settlement with Steve Coogan is of no importance. At most a six-figure sum represents less than a week's free cash flow, and it's probably much less than that. "Bad news" of this sort offers a more attractive entry price. For holders it doesn't matter either, unless they need to sell out for other reasons. There are always going to be fluctuations in share price that don't reflect fundamentals. If this wasn't the case - ie if markets were perfectly efficient - nobody could make a living investing.
cjohn
06/10/2017
10:55
But then the smart Alecs will turn up and tell you authoritatively that a high dividend yield is a sure fire sign of a struggling company.
kazoom
06/10/2017
09:56
Yes,the lower the price the higher the %age yield !
gfrae
05/10/2017
17:44
Traditionally this falls after a divi has been paid and then bounces back, this time there seems little inclination to bounce back. Does mean the divi yield will be bigger for the next divi.
freddie ferret
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