Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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Just recieved Confirmation that its going into administration.
Luckily, I sold all my remaining jpr shares on Wednesday b4 market closed and all the money now on Flybe, I'm in negative territory today but hey ho! It could turn out better or insolvency. Vgla.
Interesting article telegraph says its preparing to go into admin this weekend... Having said that the telegraph always seem to write the most negative thing on jp. Can't see how it can go into admin when there are alleged offers been made
Someone sells 12000 pounds of stock and it falls 30 per cent. Rigged to the hilt -For a premium listed company.
What's happening?
At least something happened.
There you go. An automated trade!!
No trades today?
#Maffa: Don't ask me! And what do I know? I'm only from Nigeria! Hahaha, Vgla
So does that mean the pension fund gets shares then? In that scenario?
I struggle to see how it can get any worse for long term share holders..... I've lost 97% of my original investment!
#dcr. The viking is ready to take over this company but probably with an equity swap which won't be so good for the shareholders. Vgla
Christen Ager-Hanssen, the chief executive of Custos Group, who's Johnston Press' largest shareholder says the board has been 'rearranging the deck chairs on the titanic' as Sky News reveals the owner of the Daily Mail is plotting to buy the i newspaper from the company.
https://twitter.com/srbeasley/status/1062311144826773504
for 100 million, fifty mill to sort the pension fund out, dish the rest out to the shareholders, thats 40 odd pence each. Let the Bond holders have the rest as a going concern. Would/could that work do the bondholders have any say as to what JPR do with their assets.
Hopefully a deal might be close, someone’s confident with lumping 14k on it.
Markets are open..... no sign of 10p.....
I sincerely hope so.
This will open at 10p tomorrow
Johnston Press lines up insolvency experts for hedge fund handover share Johnston Press is preparing to hand control to its lenders Christopher Williams 10 NOVEMBER 2018 • 7:30 PM Troubled newspaper publisher Johnston Press is preparing to hand control to its lenders as the search for a rescuer enters its final stages. The Sunday Telegraph can reveal that directors have lined up restructuring firm AlixPartners to handle a potential insolvency and pre-packaged sale of the 251-year-old publisher behind the i and 200 regional titles, including The Scotsman and Sheffield Star. Johnston Press is still seeking a buyer via the formal sale process launched last month. However, multiple industry sources involved in the process said its heavy debts are an insurmountable barrier to a takeover as a going concern. The directors are legally obliged to explore all other options before calling in administrators. Sky News reported on Saturday that the Daily Mail owner DMGT was readying a bid for the i newspaper, which Johnston Press bought from Evgeny Lebedev’s ESI Media for £24m in 2016. Another option could include a solvent debt-for-equity swap. But Johnston Press would require the approval of its shareholders, who include Norwegian entrepreneur Christen Ager-Hanssen. He owns more than a quarter of the shares and has said he could block such a deal, or a sale of the i. Mr Ager-Hanssen said on Saturday: “I completely understand DMGT’s desire to acquire it. If I would block it is not something I want to comment on.” A pre-packaged sale would be expected to hand control of Johnston Press and its 200 titles to New York hedge fund GoldenTree Asset Management, run by wealthy founder Steven Tananbaum. Such pre-arranged deals can help avoid disruption to a business. AlixPartners has been involved in talks over the future of Johnston Press for over a year, but moves towards a handover have accelerated as chief executive David King seeks a solution before Christmas. The company’s future may hinge on the fate of its pension fund, which has a £40m deficit. In a pre-packaged sale, part of the scheme could be offloaded into the Pension Protection Fund (PPF), the Government-backed lifeboat, which would mean reduced payouts for retirees. If a solvent deal is agreed, GoldenTree could potentially offload part of the pension liability under a rare manoeuvre known as a Regulated Apportionment Arrangement. Johnston Press said that “the formal sale process is still ongoing” and that “nothing has changed since we announced that process”. AlixPartners declined to comment.
Story on the BBC also
https://www.bbc.co.uk/news/business-46169125
Normal monday morning stampede on the way ;p
Hope for the better. 20p is my target now
According to sky new dmgt are going to table a bid for the i. Also says other parties are interested in other parts of the business. Can we (shareholders) refuse any sale... I. E. Will it be a voting process?
The viking is just behind the curtain. Ready to make his move. Rape and pillage the modern way.
The board need to be pro active with their approach for bidders!! Not to sit back and hope for the phone to ring. They are the ones that need to pick up the phone and start dialling!!
Where is the Viking? What is he waiting for?