The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Lucan no movement... liquidity in stock is still terrible. Without some good news (e.g dividend, share buyback, acquisition, new stake builder), the stock is going nowhere. Any current shareholders wishing to sell just gets picked off as the stock drifts along the bottom...why would a small investor buy in these circumstances
Bit of movement recently, something coming?
I seem to remember the rights issues in INM and APN were rather favourable. Lets see how this pan's out, but the fact it got that far does not bode well. Balance sheet has 80m in cash (50% value) and looking to tidy up balance sheet; yet share price languishing. Should announce share buy back with cash....woops that may not suit certain interests
' it is being run in the interest of a single shareholder' - actually, it's not, just now, evidence the recent spat between the chairman and chief executive. Will be interesting to see how long the major shareholder allows the situation to continue. If the chief exec is forced out, or forced to back down, it will be time to sell.
The liquidity in INM stock is terrible. Why would anyone new invest, when it is being run in the interest of a single shareholders
Can't tally the balance sheet here, neither can the guys in Google finance - grrrrrr
being played here. INM sits with 60m. in the bank, waiting for other papers to run out of cash and appeal for help. But will they? The lefties at the Times would rather die, but what will they do when the bailiff is at the door? Interesting ...
Some real big sells recently.
Johnston Press up 40% today on rumours of disposals.
It;'s not just the sector, a 29% shareholder tends to deter buyers. The cash in the bank is there for a reason, but for what? Can we be confident it will be deployed in the best interests of ALL the shareholders? Can't say I'm confident.
Yes, very low volumes of shares trading in INM....even positive results are not spiking interest anymore. INM are forecasting 80-85m in cash at year end 43% of market cap (real value in stock at the moment). If there is any major interest the SP will quickly rise to 18-20c, but hard to see where a new buyer (stakebuilder) will come from for the moment.
35% of market cap is cash in the bank but no move in sp and with no dividend this year that % will be higher by year end. Unfortunately its an unloved sector.
Another substantial sell. Seems news is not coming just yet.
A few modest buys today, two massive sells. Mixed messages, to say the least.
Bit of interest here, news on the way? You know why DOB cannot afford to buy the rest of INM.
INM is not going anywhere unless it returns some value to shareholders. The best way would be through a share buy back program, with 85m cash in the bank they could buy their own shares back while the price is so low. (Michael o'Leary has been doing it successfully at Ryanair) Lucan; At the current price DoB could buy INM for <40m and it is making 25-35m/ year......if he is not interested at that price why would anyone else would bother.
we should buy the Guardian? or they should buy our management team?
The shares are now VERY cheap. Generating cash, money in the bank - what's not to like?
No reason at all why this should have fallen on Brexit, most of revenues are in Euros. Investors are getting tired of waiting for something to happen. Time for a dividend.
No way DOB will buy out the company. Present situation suits him fine, effective control.
Just wondering at what point DoB would trigger a bid for the company. Valued at 200m currently, he owns ~30% (60m) there is over 70m in cash....so would cost him 70-100million to buy-out. Without a bid from him or a new investor the share price will just languish. With Commerzbank i assume looking to off-load their remaining 2-3%.
Now Commerzbank has halved its holding. Tired of waiting for something to happen?
Circulation and revenue down again. Not good news, in an election year. One just wonders what is happening to the competition.
A lot of press coverage on INM and that 60mil euro cash pile. with profits of 30mil per year and no debt INM are going to come under pressure to either invest or pay out some of the cash. As an example of how the value is improving here, there is a US media company I looked at that has profits of $40 mil and a share price of $0.33. Its one of the top 3 radio station owners in the states. The big difference it has with INM is a debt burden on $1.2 billion. Pitt said they have a list of 100 possible targets they are running the rule over ( here and in the UK). they know print sales are unlikly to grow so they are looking at digital and printing. On printing the aim is to buy companies that have an in house print cost that INM could shut down and cut costs significantly by using their own presses. All in all I'm starting to see a bit of light here. I'll never get all my money back (or even close) but I think there is definite room for a nice improvement all the same.
Sounds like the kind of outfit that would appeal to DOB, and vice versa. They would certainly be in a position to find out what the management's plans are. Must be disappointed about something. Lack of dividend? Hardly likely to be crucial.