Member Info for LUCAN

Group of Wexford papers went into liquidation today.

Share price today tells its own story. Evidently no good newesd.

Cute operators here. They walked away from Celtic Media operation when asked to guarantee jobs; now can wait for the company to cut its own workforce, or perhaps go broke, or indeed both. Not INM's fault either way. #Cash is king. He who sups with the Devil should bring a long spoon.

Still don't understand what UBS is doing. Overall holding seems unchanged at 5.66%.

Can any kind person explain to me exactly what is going on with UBS and its holdings in INM? Are they buying, or selling, or just shuffling the pack in some way?

Astonishing news in the paper today. A house divided?

There is nothing here for the vultures. The two principal holders have around 45% between them, and I think the bank or banks have another 5%. Tidy arrangement.

I suppose, on reflection, you cannot propose a dividend while at the same time attacking the company's pensioners. That would be a bit blatant, even for INM. Maybe next year, when the blood has been washed off the streets. Not sure the results are as good as they look, advertising/circulation still falling.

Where traded? Dublin? Nothing showing here all day.

Property tax day. Very fitting.

Final results came 4 March last year, should come Friday unless there is some reason for delay?

Shares may be pledged against a loan somewhere, ok there are ways around that but it's a little messy. Dividend seems perfectly straightforward. A 5% dividend would leave plenty of change from the expected annual profit. Cash on the balance sheet is nice, but INM will not be allowed to buy anything substantial now unless the target is facing imminent closure - hence can drive a very hard bargain.

Dividend is certainly possible. Share buyback is not, as it would push the majority shareholder over 30%, with all sorts of consequences.

Market cap is currently 177m. To 'buy the company', main shareholder would need another 20% for 50% holding, which would cost minimum 35 millions, not 15 (actually much more, as any serious buying would push up the price). Of course it's academic, he doesn't need or want majority control, current situation suits him fine. I still think full year figures will be interesting, they cannot sit indefinitely on all that cash at bank (earning what? 0%?)

looks very weak, must be nothing encouraging in the annual report?

Reports INM management in talks with owners of Irish Examiner (loss making, debts of 20 million). Hard to see much advantage to INM in picking up the pieces there, unless they got it for nothing. DOB is right, there are too many Irish dailies.

Cash at bank 31.12.15 was just under 60 million. Receivables were about 25 million, liabilities 63.5 million, leaving a net cash position somewhere over 20 million. Results were released 6 March last year.

Annual results due in a few weeks, will be interesting to see how the cash pile has grown. Share price looks weakish at this stage, not encouraging.

One good reason. Money in the bank. Against that, people are not sure they can trust the major shareholders to play fair. Bound to tell in the end, though. Cash is king.

Bit of movement recently, something coming?