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
  +1.25p +1.47% 86.25p 86.00p 86.25p 88.50p 85.75p 88.50p 71,271 14:53:17
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media 713.0 76.5 38.1 2.3 238.37

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Date Time Title Posts
26/9/201712:00TNI - The recovery thread!1,844
22/4/201613:49Trinity Mirror5,165
13/12/201217:37Trinity looks good!!17
21/6/201214:12MIRROR DOWN THE DRAIN2
21/6/201214:09What is the going rate for contempt of court?6

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Trinity Mirror Daily Update: Trinity Mirror is listed in the Media sector of the London Stock Exchange with ticker TNI. The last closing price for Trinity Mirror was 85p.
Trinity Mirror has a 4 week average price of 84.50p and a 12 week average price of 84.50p.
The 1 year high share price is 124p while the 1 year low share price is currently 75p.
There are currently 276,366,178 shares in issue and the average daily traded volume is 107,501 shares. The market capitalisation of Trinity Mirror is £238,365,828.53.
cjohn: Ok, thanks for expanding your remarks. Should they be waiting then and picking up assets that are more obviously distressed? Or wait, for example, till their own share price is firmer - ie above the average buy back price - then use their own paper in any takeover. The underlying problem is that TNI management don't have an organic solution. I realise there are still PI believers in the potential of digital here. But their belief is contradicted by the facts. The digital growth rate at the most recent results was in the mid-single digits. Buy backs in lieu of a transforming acquisition reduce the capital base and increase the load of déficit per share. And unless they aim to buy back and take the company private, it's not doing anything to ensure the future of the company. It's a distraction, in lieu of a strategy. I'd love the extra cash on the balance sheet, to be honest, and it pains me to see the accompanying over-payments disappear into the maw of the pension funds.
kazoom: Thanks CJohn, At face value I can see what you're getting at. They acquired the fist 20% of LW for £14.2m valuing the whole business at £70m. The last 80% cost them £155m valuing the whole business at £193m. But, it's worth remembering that over that time operating profits had risen from £21m to £39m, plus TNI had identified additional synergies of £10-12m pa only achievable through full ownership. So I don't think the disparity was that big and if anything it's that the first 20% looked overly cheap rather than the converse. Anyway I wouldn't disagree with you in the desire to see them drive a hard bargain on price, nor with the view that this deal makes a lot of business sense. Also no disagreement with anyone that it wouldn't make sense for them to issue shares to complete this deal, unless there was no other choice and given TNI's strong track record on cash generation and delivery of synergies it shouldn't really be that hard to raise debt against this deal I would hope. (Worth also noting that although they did issue some shares to acquire LW - that was when the share price was in the 170-180 range and the placing was at 158p!)
cityconindex: Harry good point what's the consensus if that were to happen, what effect on the share price? and what effect on the divi?
kazoom: Or a share price that is 4x what it was 5 years ago - all in the time frame ;-) 20p special would be a crazy amount. c. £50m. More than a years cashflow, 5x the value of the current buyback programme. All that would do is trash the balance sheet and leave shareholders worse off.
cityconindex: 6% of a share price that's been thrashed from 1.85 2 years ago is no favour to anyone. if they can recover the share price and pay a fatter dive to keep it at 6% that would be good. but a 20p divi special and continue the buyback is what imho is needed. Otherwise the only people making are the directors because if the share price recovers they will pick up large bonuses.
kazoom: which they could easily afford I would imagine. But why would they want to engineer a short term spike in the share price which they are buying back shares? Is a regular dividend yield of nearly 6% not enough already?
cityconindex: assumption would be private individuals May UCG on the hoof gave a 1p special dividend with a weeks notice. Share price went up from 10 to nearly a few days. Whats stopping TNI giving an ad hoc special dividend at tomorrows update? Its only spent about half its buy back budget to date. If someone has the ear of Daniel Loeb the hedge fund shake up investor. I bet the special will be out today if he took a 3 percent holding. Have a good day.
gfrae: Kazoom,I havn't looked recently but isn't the apparent anomoly in the Aviva holding explained by the financial instrument that could end up with Aviva ? I also agree that share price movement is unlikely to signify anything other than a large seller in a hurry in a generally weak and thin market. We are all aware that the advertising market is weak and figures unlikely to beat any forecasts.
kazoom: I don't buy the idea that there is undisclosed bad news and also I think it is a fallacy that the market makers actually control the price (at least over any extended period of days the price is at the mercy of the buyers and sellers). What I think has to be remembered is that there are some extremes of opinion in the market about what TNI is and what it's prospects are. Over the course of the past year we've seen the price fluctuate between c. 70p and c.120p and not especially driven by new imho. On two occasions the price has gone below 80p and below 100p on 5 separate occasions. To be frank I think you just have to live with (and try to exploit) that volatility. I hadn't really expected the price to go so low at this stage but it could still go lower - when the market gets nervous it's positions like this that can particularly suffer. I don't know if the company has actually given a confirmed date, but over the next week or two we should expect to get the half year trading update (in advance of the HY accounts at the end of July). The absence of any unexpected nasties in that update should I would expect, at least put a floor under the share price.
cityconindex: The demise of the share price may mean that the board is not letting out information which the mm know about...35 p in a month, and no statement...seems something is amiss. The management need to be taken to task for the loss of company value with nothing to act as a catalyst to improve the price, maybe time for new management seems this bunch have lost direction.
Trinity Mirror share price data is direct from the London Stock Exchange
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