So it looks like we have only bought back about 5% and with approx £230m to spend on them at this rate it will take another few years for any benefit to shareholders.
If ITV want to pass on any benefit they should just go and buy a few hundred mil in one go now while the price is still low, because the longer they spread it out the higher the buying price will be. Just go in the market and buy at say 80p-£1 and be done with it.
So I have just sold a quantity and made good profit to max out this years CGT allowance while still holding more for Divi, I know the SP should build more for ex Divi date but hoping it drops back a bit now so I can buy more back in for divi and sell again.
It's all a gamble to get the timing right. But we all know that now I have sold the SP will carry on going up.
ITV’s legal bill soared to £24m last year as bosses grappled with the fallout from the Phillip Schofield scandal.
The broadcasting giant racked up millions of pounds in legal costs in 2023, some of which related to a KC review into Mr Schofield’s affair with a young colleague.
I have had these for about 5+ years and bought in at about 70p, as far as I am concerned it won't make any difference as I have already written these off so won't be putting any more money into them. It's just a pit for money and will never see any of it again. The board have driven this into the ground while doing nothing for years.
Yes it looks like I missed the best price of 73-74 by 1-2 days , but will also sell a chunk at 72p+ if it reaches that and then buy back for Divi or just after a 3-4p drop.
Just back from 2 weeks+ sitting on a hot beach and full of food and drink to see the SP higher than I went away plus the new RNS about the next 10years etc.
Surely this should also give a boost to the SP , so where's my 80p ???
I don't think the buy back can start until after the results and it's been agreed and if it's a few hundred million shares they will have to buy them back via the market at market prices over a few weeks/months unless there is that volume just sitting around waiting to be bought.
I can understand anyone taking a little profit with this rise, but you can see what's going to happen next week.
With the results they will announce on the same day big share deals with free plus big buys for all/most of the directors knowing the SP is going to rise big time in the weeks to come. They are just setting it all up for themselves so I wouldn't be selling now just sitting tight and going with the train ride for £1
I guess it would be interesting to see just how much the B/Box has cost to set up against what is coming back although they will still be getting a small return moving forward.
It must have also given ITV the knowledge and experience to set up ITVX so it works and makes a profit. A good learning period / move.
I am surprised you haven't asked for place on the board with everything you know, or is/was that your ploy all along to replace the Dame with yourself.
So it could / should be a 10% buy back over a period of time and we are not yet sure how long, but that should /could be another 10p/20p lift on top of results so you can see why many are now buying and all thanks to tom. !!!!!!!!
Tom you do talk a lot of rubbish, just because you have been ranting for the last 1-2 years you actually think someone /anyone has listened to a word you have said is remarkable .
Get real, it's just the rest of us have had faith and knew that at some point things would change.
By using all this money for buy backs just shows they have no problems at all about the level of debt. The best businesses always use other peoples money to growth the business and not their own money as long as the debt doesn't get out of hand. Smart move.