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It's very tightly held, so even small trades can move the price.
don't forget they have just been handed a wholly unexpected opportunity to increase circulation and advertising revenue due to the closure of a major competitor in the Sunday market, as well as possible further gains eleswhere due to fallout from the News International issue.
I agree with your assessment, and have just seen Kevin Maguire, the Mirror's Associate Editor, say for the third time (that I have seen) in the past few days that he is appalled by the revelations about NI and has never worked at any paper where such despicable things have gone on. You also have to look at how low these shares have been rated in recent times, and ask how much lower it is reasonable for them to go. They are a business trading on an incredibly cheap rating whose main rival is in deep trouble, and much of the trouble seems to stem from a culture that has developed within that rival, a culture which has led them to think they are above the law. I honestly don't think that other newspaper groups feel they are above the law, even if they might have broken it now and again. I still think that the overall outlook is far more positive than negative.
they definitely will launce a new Sunday, but they would be daft to do it too quickly or people will just associate it with the NOTW, for which there is a genuine feeling of revulsion. Also, who can say if a bit of this might not affect sentiments towards the Sun? All good for the competitors including TNI.
on these for larger amounts. I have just tried a dummy sell on my holding of just over 8500 and was quoted 329, yet for 1000 the bid price is 396 - offer of 405 in both cases. I shan't be selling though as I still think they are good value.
it's just being re-rated to take account of the recent results, and in anticiapation of further progress this year? Plus of-course it's still cheap enough to be a decent takeover prospect.
No. of shares in issue 257,690,520 as notified in final results. You are not alone in being puzzled by the low rating which seems too pessimistic despite the challenges facing the industry. If you look at the movement in the share price over the past couple of years you will see how quickly it can move in either direction, and having seen a fall to this astonishingly low level, a bounce surely can't be far away.
In the results they said 'The strong cash generation of the business provides the Board with confidence that the Group is making progress towards the re-instatement of dividends. Nevertheless, the Board believes it prudent to maintain financial flexibility for the time being and therefore the Board is not proposing a dividend until such time that we see an improvement in the trading environment.' So nothing specific as to when, but I suspect the savaging the SP has had in recent weeks might make them keen to offer something sooner rather than later. Of-course it may be that some sort of corporate action over the next few months might make this academic, as TNI might no longer exist in its present form but will have either merged with another company or simply been taken over.
they were up above 175p within a few months! I'm not suggesting that's going to happen again but this share can really move when it gets going. At that time, debt was way higher than now, and they had just suspended the dividend whereas they're now talking about reinstating it. In my view, they should have made a token payment this time as it might have provided a bit of support to the share price. However, we are where we are and lots of people think the present price does not reflect the value of the business. Yes, times are tough but not as tough as to warrant a rating as low as this.
a small change in sentiment is going to have a huge effect here, or the first whisper of a private equity/management buyout or interest from another party. Consolidation in the sector is the key to a healthy future here and if the market's valuation makes progress towards this goal impossible, someone is going to snap the whole company up, do the necessary deals and reap the rewards.
this share has gyrated in the past. There is no reason to believe that has ceased. It can double in a matter of weeks. I am not saying it is going to double in the next few weeks, but given the present rating it looks as if every single piece of bad news for the whole sector is priced in several times over. It might never rise back to the heady days of 700p+, but at this level some modestly favourable news could have a significant effect, and a takeover either by a private equity company or someone who wouldn't mind getting his hands on the Mirror at a knockdown price (Richard Desmond's name springs to mind) cannot be ruled out.
has been really savage, and quite unwarranted in my view. They beat many expectations and seem to have been caught by worries about circulation figures. Consolidation in the sector is almost bound to come, and TNI's name has been mentioned recently as one of the likely players. However, given the incredibly low valuation I am beginning to wonder if a predator might see value here that the stock market doesn't.
As an existing holder who is entitled to shares in the offer, it's a genuine dilemma. If it were the outgoing management it would be a no brainer - the answer would be a definite 'no way'. They've mismanaged this company for years and fleeced shareholders several times already. They would not have got another penny out of me. However the new CEO has a decent track record and has been honest enough to admit that the business model was flawed, and needs changing. Could he revive the fortunes of the company, which would make it worth taking up the offer? I really don't know what to think at this stage. It needs a lot of further thought over the next week or two.
to any new shareholders. It may be that this company has finally turned the corner and that better times are on the way, but I'm afraid those of us who have been in for many years have said the same thing so often in the past and it never actually happens. It's always 'jam tomorrow', but tomorrow never comes.
I am holding quite a sizeable chunk of HYC which I mostly purchased at around 80p in March 09. I sold about half last summer and 'transferred' into SWG, and that has worked out well. I have no intenetion of selling any and I am still hoping to add quite a lot of my SWG proceeds back to HYC in anticipation of further t/o action. However I have seen this share move a lot (both up and down) on almost no volume, and although this is a risk, I don't believe we will see any t/o activity here until the autumn due to the approaching holiday season. On that basis, and having watched this share quite closely for more than a year, I believe that a lot of yesterday's 'froth' will evaporate and we will be back below £3 by September.which will prove a better top up point. I will of-course look very silly if a t/o comes quickly, but I just don't see this holding at these levels if things go quiet for a few weeks - espacially if the market in general is weak.