Member Info for LUCAN

market is waiting for some decent results, i.m.o. May be a while.

lot of small selling last week, needs good news

plenty of selling once it hits 0.18, seems to be the ceiling for the present.

rather odd trading pattern last few days, mostly sells apparently, yet the price is inching up. Buying in Dublin, possibly.

As I understand it, they are not charging at present for online content, hoping to raise the number of 'clicks' and profit from advertising. I doubt if they have sufficient exclusive content to justify a paywall. Further staffing cuts will probably lead to thinner content, so it's a problem. Really they need one or more competitors to fold, thus reducing the competition for ads and sales.

The website is www.thephoenix.ie, but I think you have to subscribe to access content. It'll be in the shops until the 26th.

sorry, at 15p two sales of just under 20m each.

Some person or persons sold almost 60 million shares in Dublin today, at 16p (two sales of 10m) and 15p (two sales of just under 40m). Price recovered to 17p soon after.

Interesting piece in today's Phoenix, suggests V. Crowley's departure may be related to APN deal.

The key line is that the rate of decline in advertising income has slowed - but not stopped. The company is running hard to stand still, more or less, in terms of profit. Competitors must be hurting too, though.

lots of selling in dublin today, disappointing results coming?

due thursday. Anyone know why Vincent Crowley is leaving? The announcement does not give the impression that they tried hard to dfissuade him.

However, DOB evidently did not expect APN shares to crash, since he arranged to take up INM's rights on his own behalf.

Sure, they are doing most of the right things, but share price won't improve much until they produce a decent set of results. Irish market is still very depressed, circulations down again in today's figures. Still think it was a mistake to pass up the APN rights, would have been an instant 40% profit (rights shares issued at discount of 12 1/2 %). Also a bit disconcerting to see DOB grabbing the upside.

It appears the APN rights shares which INM is not taking up, are being taken up instead by a vehicle owned by Denis O'Brien. Not sure how this works, but it sure is a smart deal for DOB.

It is disappointing that INM is not taking up its APN rights, dropping its share below 20%, i.e .relative insignificance. The banks could hardly lend an extra £20 million to INM, so soon after writing off 100 million plus, but INM shareholders would surely support a rights issue for a dilution of no more than 10-15%. One must presume that one of the major shareholders was not keen on putting in the cash, is somebody a bit stretched? As for future opportunities in the Irish market, hard to see any worth having.

To put your toe in the water from an underwater position is an interesting concept!

seems to have run out of steam for the moment?

In spite of the restructuring and large issue of new shares, the true free float is relatively small. Remember Denis O'B holds just under 30% and won't be selling, D. Desmond has another 15%, ditto, pension fund has I think 5 %, banks have 10% which may be sold down over time but prob not yet, Tony O'Reilly another 7%, ditto: adds up to almost 70% fairly firmly held - and then there are DOB's camp followers, probably responsible for most of the recent buying. So it doesn't take much buying to push the price up, and a significant drop is unlikely unless there are bad results (which of course is possible, but then you might not wish to buy).

15 cents is very unlikely