Member Info for SW16

The credit facility which is being halved was "unutilised" according to RNS. The credit test will not take place until December "Amendment to the Super Senior Revolving Credit Facility (the "Facility") Johnston Press stated in its interim report for the 26 weeks ended 2 July 2016 published on 4 August 2016 that it would seek to review the Facility with its lenders to ensure it continues to meet the needs of the business. The Company is pleased to announce that it has agreed changes to certain terms of the Facility with all of the lenders (the "Lenders"). The changes are effective immediately and will be effective until 31 December 2016. The Facility is currently unutilised. Under the terms of the agreement, the total commitments under the Facility will be £12.5 million. In addition, in advance of the September 2016 covenant test, the Lenders have agreed to waive this test and that the next covenant test date will be for the 12 month period ending on 31 December 2016. The Company will now work with the Lenders to agree amendments to the Facility, anticipated to be effective from 2017 onwards, in light of recent developments including the acquisition of the i newspaper and potential future asset disposals."

A positive article in the Business section of today's Sunday Telegraph: http://www.telegraph.co.uk/finance/yourbusiness/10731847/Deputy-Prime-Ministers-brother-changes-fortunes-of-a-struggling-firm.html

"the whole transport sector has been on its knees for a decade" EZJ? http://www.lse.co.uk/ShareChart.asp?sharechart=EZJ&share=easyjet

Investors Chronicle this week tips JIL as a buy

HL said they were checking with the supplier of the data, but I see this broker target has disappeared from the HL website

I was in IAG earlier this year for a small amount, and sold early with a small loss. But it turned out to be the right decision as I was selling most things to add to my long-term holding in EZJ. Now time to re-balance a bit; I've reduced EZJ (but expect it to be a major part of my portfolio for the foreseeable future) to get back into IAG, but more into LLOY (something I lost a lot on in the crash - anybody else ever bought LLOY at over £7.00?). Still holding (at a loss) part of what I bought in FJET. That's clearly going to be a bumpy ride, but with the low-cost airline expertise behind it, I don't see why the model shouldn't work in Africa. there it could be a major boost to business and the economy I think

Hargreaves Lansdown is today showing JP Morgan Cazenove giving an IAG target of 1920p and a neutral rating. Sounds most unlikely. Waiting for HL to get back to me

You're probably right that it's not being sold at fair value - but that price is still twice what it was trading at before the bid. A lot of people will share the former trade minister's view about the way the company was (and presumably is) being run. And some might wonder whether it is being run in the interests of all shareholders. On FJET, to be clear, my latest punt was precisely because of the way LONR was run: I'm seeing FJET's trashed share price as being comparable to LONR's, and wondering whether there might be a mysterious bid which doubles its price as well.

Miko - I sold yesterday (made a small profit this time on LONR - previous times I've been in, I'd sold at a loss, so overall I will have lost on LONR). The difference between current price and the offer is not worth bothering about on small investments, and so time to move on. If the price drifts lower, could be worth getting in again but, on balance, I would be wary of committing too much in case there's some other hidden reason why the takeover doesn't go ahead. Having significantly reduced my holding in FJET (at various levels of loss), I decided to use the profit from the LONR sale to top up on FJET. Expect that's going to be a tangled mess for a while, but regardless of the merits of the FJET model we might see some wranglings along the lines of LONR and get a boost in the share price.

I've been in LONR a couple of times and always sold at a loss. Dropped back here today as I haven't been following recently and it looks to be a bit of a disaster area - even after it looks as if FJET (I'm still invested there, but at a significantly reduced level) didn't get much of a deal. Just looked at barchart.com - I don't recall ever seeing anything which screamed sell as it does for LONR http://www.barchart.com/opinions/stocks/LONR.LS&view=detailed

Just got back into LONR. Directly invested in FJET, but the LONR investment there should underpin company performance, which is looking good in its food/agribusiness etc sectors