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I'm sorry deepest blue, but that's total nonsense. Most shareholders hold shares in a nominee account. They're still shareholders! MMs and brokers did indeed know a long time ago that this was going under - as did almost everyone else on earth, hence the value of less than 3 million placed on the company. And it is because you are equity holders that you (rightly) come last in the queue. That's the whole point!!!
Excellent statement by Viking...about time someone stood up to these greedy BODs, and bring them to account. This stinks and DK has now possible legal proceedings against him..
We need to remember we werent share holders. We were gambling trading the shares held in our nominee accounts. MMs and brokers prob knew about this a long time ago - so any holding we had was prob just in theory only. A bit like naked short selling - the buy deals prob never even settled! We are simply gamblers in equity values on the market - and dont hold any shares in the business concerned. We therefore come last as classed as gamblers. Same applies at CAKE recently and Carrillion etc etc etc
Cards on the table, I don't see how JPR, or ultimately any other print news publisher will survive. But I do agree with The Viking's analysis. Stinks to high heaven. It was however, given the BOD's previous attitude to shareholders in general and Custos in particular, somewhat predictable. And for Mr King to remain at the helm - that is absolutely indefensible.
Not a holder but a very sad day for holders. What has happened is outright theft if the Vikings statement of today is true.
https://custosgroup.com/news/statement-by-custos-ceo-on-pre-pack-sale-of-johnston-press/
I cant believe it! I hope it's not over, and can get something back! I trust the Viking can do something.
much the Market Makers have been caught out by this, they must be holding and feeling as aggreived as us.
Hello Booln if the transfer hadnt all been set up to happen over the weekend he might have been able to stall it and call an EGM. With the very clever way they have done it to me it looks all over. The Viking might be able to take the BoD to court over failing to look after shareholders interests, which we all know is the case, hopefully he does. Whether we could get damages paid to us I have not a clue. I have placed a sell order for Monday morning which I dont think will work but still nothing from HL to say my shares are gone so I can only hope. Have to say we have been well and truly shafted by this BoD of tossers and it hurts. Hope you have not lost too much, though to lose even a small amount in this way feels like robbery. GLA
Your shares are worthless the management gets away with it and carry on as usual robbing share holders they should be out in jail it's legalised crime
no, no, yes...
Unfortunate but it was always going to be a dangerous bet/investment recently. Investors could have made a fortune or lost all. The debt owners have won this time.
Is there a scenario or chance for keeping my shares?
Can the Viking do something what saves us?
Or I have to say goodbye for all my money?
If you are new to shares then you should learn that you have been a victim of legalised theft. This company will continue as another name and you will still be reading the I. This happened with Game and numerous others. Once you work this out you won’t buy another share again.
Custos can stop this and keep JPR as a going concern. Seems a real long shot now. Dont hold - but this is a real disgrace. GL all.
Apologies to you Oracle obviously I misread the gist of your post. A lot of us in the same boat and hurting, just fired off a retort to ease my feelings. Hope you can fecover from this stich up its taught me a lesson for the future, an expensive one which will take a while and a bit of luck to get back even on. Grrr wish I could meet this King guy face to face. GLA
Oh it really was a stitch up by King et al. Cant get it out of my head that he was telling people they should not sell their shares a few weeks back, absolutely despicable. JPR twitter feed all congratulations to each other which is staff so understandable, no mention of shareholder losses. Its probably not illegal we shall see if the Viking actually does go to court with anything, he has lost a packet really. Still no mail from HL though tegarding these shares so might put a cheeky sell order on for Monday first thing wont work but cant do any harm I suppose. Taught me to stay away from these strugglers in future though. Its a shame its ended like this for everyone. GLA
Now? Indeed seems a real stitch up - had until June 19 next year. New company all sorted out terms and conditions, new name and all. This must be bordering on illegal surely? How can this be done months before the bonds are due without shareholder approval? Dont think anyone expected this so soon.
Fyi buying stock on the market doesnt help the company at all! Those thinking otherwise are misinformed. Unless at the initial IPO. After which ... Well... !! It is all a gamble.
Stock is sold to raise capital. There is an Initial Public Offering, that is used to raise the money, and then after that, the stock goes up and down by the free market. The share price neither helps nor hurts the company, per se. Only the shareholders of the stock are typically affected.
Sorry Bluedreamer I am not gloating just stating the facts and quoting CEO Mr King - I too have lost thousands - so take the chip off your shoulder
Well said
Well thanks Oracle nice to know youre so caring. Trot along and go and troll somewhere else. Not sure what people get out of gloating over peoples losses, lowest of the low, you knob. Oh and by the way still think the Viking will have a say in this.
How they get away with it I do not know
David King, pictured, formerly chief executive of Johnston Press, becomes CEO of JPIMedia and will continue to lead the business.
Sorry Bluedreamer - Regrettably any shares you may have owned in Johnston Press plc will have no value – the company will be delisted from the London Stock Exchange as part of this process. This will happen on Monday.
Done and dusted. Assets bought by JPIMedia.