Trinity Mirror Share Discussion Threads

[gfrae] 30/11/2017 10:22

I also note that DMGT's pension deficit has been reduced from £249 million last year to a surplus this year.

[patience a virtue] 30/11/2017 09:56

Added a few last couple of days. People are still reading the paper and advertisers are still filling the sheets and above all TNI are still making huge amount of profits!
Looking forward to trading update on 15 Dec.

[gfrae] 30/11/2017 09:40

Perhaps it would be mutually beneficial for the TNI pension fund itself to invest in it's own sponsor company ?

[gfrae] 30/11/2017 09:08

Unfortunately I agree with you Kazoom, if the aim of their business is now as a conclidater of the newspaper industry. Ie to buy cheap newspaper assets and run them down profitably it would seem obvious to start with their own shares. Where could they buy newspapers any cheaper, even Ashley Highfield does not sell newspapers at under 2 times !
The selling is relentless and appears regardless of price.

[cityconindex] 30/11/2017 08:43

No Mercy for Daily Mail share price today

[kazoom] 29/11/2017 23:04

Looking back at the resolutions from the last AGM the "standard" resolution on share purchases authorised them to buyback just shy of 28m shares (10%).

In the buyback they just completed they purchased 10m (not sure if some of those even predated the resolution) so they could still buy back more.

So they could institute another buyback without asking for permission (from shareholders). With the share price where it is now, I can think of no better value use of the free cash flow - even accepting CJohn's valid point that the balancing pension payments they would have to agree with the trustees would be at a poor time to invest in pensions.

The surely have to do everything they can to prevent the share-price hitting 50p. Both CJohn and Paul Scott have indicated that they "might be interested" in the shares at that price and it hardly seems fair that such fickle former holders should be allowed back into the party. ;-)

More seriously though, much as I mostly think that Directors fretting over short term share price movements is a bad thing, unless there IS some underlying undisclosed reason for the share-price weakness of over the last six months - I do think there is a strong case here to use cash to maximise shareholder value, perhaps even over and above pursuing the acquisition.

The next trading statement is in about 3 weeks time and if that does in fact confirm the variation between performance and valuation then there will be a strong case to challenge the Board's priorities.

[kazoom] 29/11/2017 22:43

Twixy - it's a fair point , they do generate about 1/2p per share in free cash each week.

Unfortunately the share price sheds more than that each day over the last few months.

So as time goes by it is true the amount of debt needed to support the acquisition reduces, but any shares component looks increasingly unattractive to shareholders.

To be honest I'd be inclined not to support a large shares component of the deal as things stand.

In any case though if the share price does continue in this direction, Desmond could well decide to do the deal in reverse - float off his publishing assets and have 'newco' bid for TNI.

[bc4] 29/11/2017 17:44

Mid twenties what happened to mid fifties!

[freddie ferret] 29/11/2017 17:08

It would be bloody silly if these go to the mid twenties which is the next resistance level imho.
Would mean a divi yield of well over 20% and the PE would be well sub 1. Nuts since the earnings seem to be only slipping very slowly.

[twixy] 28/11/2017 13:54

Hopefully the length of time taken to announce an outcome of any description to the N&S acquisition means that TNI's due diligence will have been first class. If this is the case and the purchase proceeds, cost savings should start flowing through almost immediately.

In the interim, as each week passes, less debt will be required to fund an acquisition.

[twixy] 28/11/2017 10:05

Added too - the volumes yesterday were tiny so don't think there is any new news out there.

[philjeans] 28/11/2017 08:59

Good opportunity - BUY the dips.

Added 15k.

[gfrae] 28/11/2017 08:30

JUst broken through a 5 year low and bears want to see how far it will fall,they hope bulls will give up,or be forced to sell.

[foot in mouth] 28/11/2017 08:28

Just bought another 18,482. GLA.

[hybrasil] 28/11/2017 08:26

Bought at 69 this am. Will continue at market below 70 for a few days

[smicker] 28/11/2017 00:35

Clutching at straws but the Guardian article i posted a while back mentioned the company is about to reveal a gender pay gap of worse than 9%. With 5300 staff and assuming 2000 are women ( finger in the air ), average journalist wage of 23K, and a 10% pay gap to make up, this could add 4.6m to staffing costs. Maybe partly to blame for souring sentiment?

Still think Aviva selling and the upcoming acquisition are by far the major underlying cause though.

[patience a virtue] 27/11/2017 22:40

I shall be adding tomorrow if I can get in below 70p. Happy just to get the 8% dividend even if the share price do not go up which I very much doubt. The company is making huge amount of profit and the net debt is only 19 million at the end of 3rd quarter.
Cannot guess what drove the price down so much, may be news re Northern and Shell deal out soon?
In general the whole market has been rather gloomy especially those UK based companies.

[foot in mouth] 27/11/2017 19:51

Just checked HL's website. No downgrades etc today.

Peel hunt still have a recommendation as outlined below.

Peel Hunt 02/11 Reiterates Buy Buy 190.00p

If people think these are dirt cheap at the minute and believe that the company have a future then buy more shares! (no advice intended).

[foot in mouth] 27/11/2017 19:42

That is one heck of a drop today and takes us to at least a 5 year low. I got my ITV divi today - i'll buy some more TNI tomorrow. Today's drop is completely unjustified. This is just a very unloved sector at the moment. GLA.

[woodhawk] 27/11/2017 19:27

What is going on here? Share buyback has had zero effect, now a huge fall today? Surely the company needs to make some sort of statement?

[cityconindex] 27/11/2017 19:16

Directors are saying?

[bc4] 27/11/2017 17:18

Some kind of bear attack by the look of this


Some kind of bear attack by the look of this 11% down on only 194,000 shares














511

[s34icknote] 27/11/2017 17:15

Big fall ? Cause ?Sicknote

[harry_david] 27/11/2017 07:41

CJohn, sorry for delay. The ABCs are for site visits. The metric TNI now use is page views which have roughly the same performance though the comparison with other sites can be different where some sites attract more or less page views. I know there has been a disconnect between the online numbers and revenue growth recently but I believe this constant online growth will yield results eventually.

[cityconindex] 26/11/2017 23:26

Eastbourne spot on. Why would not TNI be a good target itself as its generating cash.

Update around 4 weeks away and there may be an awakening to its true value around the figures you quote. Hacking issue dragging on, and slow progress on takeover.