INM DO'B vs Sir Anthony

finisklin

The latest spat between Denis O'Brien and INM was well documented in all the newspapers over the weekend. It appears that this is a personal, bitter dispute between two of the country's leading business men. Apparently O'Brien threatened to destroy INM and go after everything.

The share price closed at .24 cents on Friday, the company has €2bn in debt and a deadline is fast approaching for the refinancing of €200m to bondholders. It looks like INM are cash strapped and O'Brien has backed out of a decision to sell the profitable South African outdoor advertising wing, which is where this spat surfaced.

O'Brien has called for an egm, He holds 26% of the company and Sir Anthony has 28%.

Can people see a positive short side on the SP? I reckon all this dirty washing of laundry will force key decisions to be made which will bump up the SP. Medium to long term this company is facing some big challenges.....

Any thoughts. on the SP.....

finisklin

It also appears that there's a potential investor waiting in the wings, Axel Springer a German Publishing Group.

More details here.....

http://www.irishtimes.com/newspaper/finance/2009/0907/1224254000865.html

There has to be a (very) short term upside to this....

Lexus1976

The resumption of hostilities between the O’Reilly and O’Brien camps filled plenty of copy space
over the weekend, much of which focussed on the divergence of views over the long term
direction of the Group. That said, reports that management has been approached by a number
of parties interested in specific assets or stakes in IN&M suggests options still exist to address
the current shortcomings faced by management. All undoubtedly will come at a price, however,
with the German media company Axel Springer one of those highlighted as potentially interested
in making a strategic investment in IN&M. Nothing of late would suggest to us a swift resolution
to the current impasse on the re-financing and bond repayment fronts. Indeed, as shareholders
large and small continue to suffer on the sidelines, the media are having a field day at the
expense of one of their own. At the heart of recent events would appear to be the issue of control
or maybe the lack of it in certain quarters, with Denis O’Brien according to the Telegraph willing
to stump up to €40m to €60m of his own cash if he gains support from shareholders “for a radical
shake-up of the company”.

Goodbody MORNING WRAP
Recommendation; Buy
Closing Price: €0.24

finisklin

The market hasn't taken notice and the volumes this am have been woeful! The share price is still unchanged at .25c.

Perhaps closer to the EGM and when the other shareholders show their hand as to which way they will sway, the market may sit up and take notice.

At the moment it ain't registering.....:(

ixus

I don't follow IN&M but, let me ask you a question.

What % does O'Reilly and O'Brien hold? (And, any other major shareholders)

I would view this as being an illiquid stock.

Lexus1976

INM deal 'likely to include equity swap'
Wednesday, 23 September 2009 17:13
Independent News & Media has said talks with its bondholders and banks on a restructuring of its debt have 'advanced significantly'. INM has been trying to hammer out a deal on a €200m bond which was due for repayment in May.

INM said that although details of any deal had yet to be finalised, it was likely to include a debt-for-equity swap and a subsequent issue of new shares at a price of five cent, significantly below its price of 31 cent in Dublin this lunchtime.

Earlier, it emerged that a meeting was being held in Dublin today between representatives of businessman Denis O'Brien and a group of bondholders and banks owed money by INM.

It is understood that Mr O'Brien's representatives were presenting an alternative plan to the one currently being prepared by the management of INM to resolve the group's debts to bondholders.

Mr O'Brien owns a 26% stake in the group. His alternative plan involves an investment by him of €100m and a cash payment to bondholders.

A spokesman for INM has said that if Mr O'Brien has a viable and deliverable proposal, then the company, 'let's hear it'.

INM shares were up almost 7% to 31 cent in Dublin this afternoon.

http://www.rte.ie/business/2009/0923/inm.html

In my opinion this is definately a long term play that could prove very profitable. With the O'Reillys on one side and Desmond on the other, both are very proud people and would like to believe that anything they touch turns to gold. I think they will do everything in their power to make this company profitable again even if it does mean kissing and making up Therefore I see little downside in investing in this stock. This is why I purchased these shares in August at 25 cents. I guess its a waiting game.

displaced dub

Lexus1976 wrote: »

INM deal 'likely to include equity swap'
Wednesday, 23 September 2009 17:13
Independent News & Media has said talks with its bondholders and banks on a restructuring of its debt have 'advanced significantly'. INM has been trying to hammer out a deal on a €200m bond which was due for repayment in May.

INM said that although details of any deal had yet to be finalised, it was likely to include a debt-for-equity swap and a subsequent issue of new shares at a price of five cent, significantly below its price of 31 cent in Dublin this lunchtime.

Earlier, it emerged that a meeting was being held in Dublin today between representatives of businessman Denis O'Brien and a group of bondholders and banks owed money by INM.

It is understood that Mr O'Brien's representatives were presenting an alternative plan to the one currently being prepared by the management of INM to resolve the group's debts to bondholders.

Mr O'Brien owns a 26% stake in the group. His alternative plan involves an investment by him of €100m and a cash payment to bondholders.

A spokesman for INM has said that if Mr O'Brien has a viable and deliverable proposal, then the company, 'let's hear it'.

INM shares were up almost 7% to 31 cent in Dublin this afternoon.

http://www.rte.ie/business/2009/0923/inm.html

In my opinion this is definately a long term play that could prove very profitable. With the O'Reillys on one side and Desmond on the other, both are very proud people and would like to believe that anything they touch turns to gold. I think they will do everything in their power to make this company profitable again even if it does mean kissing and making up Therefore I see little downside in investing in this stock. This is why I purchased these shares in August at 25 cents. I guess its a waiting game.

I bought 8600 at €0.34 as a long term play, but since i bought them they have traded continually below this level. Whoever wins the internal war it needs to end soon and the company needs to be straightened out and get back to being a profitable well run business without the waring.

One things for sure its going to be a bumpy few days ahead.

Daragh101

Lexus1976 wrote: »

INM deal 'likely to include equity swap'
Wednesday, 23 September 2009 17:13
Independent News & Media has said talks with its bondholders and banks on a restructuring of its debt have 'advanced significantly'. INM has been trying to hammer out a deal on a €200m bond which was due for repayment in May.

INM said that although details of any deal had yet to be finalised, it was likely to include a debt-for-equity swap and a subsequent issue of new shares at a price of five cent, significantly below its price of 31 cent in Dublin this lunchtime.

Earlier, it emerged that a meeting was being held in Dublin today between representatives of businessman Denis O'Brien and a group of bondholders and banks owed money by INM.

It is understood that Mr O'Brien's representatives were presenting an alternative plan to the one currently being prepared by the management of INM to resolve the group's debts to bondholders.

Mr O'Brien owns a 26% stake in the group. His alternative plan involves an investment by him of €100m and a cash payment to bondholders.

A spokesman for INM has said that if Mr O'Brien has a viable and deliverable proposal, then the company, 'let's hear it'.

INM shares were up almost 7% to 31 cent in Dublin this afternoon.

http://www.rte.ie/business/2009/0923/inm.html

In my opinion this is definately a long term play that could prove very profitable. With the O'Reillys on one side and Desmond on the other, both are very proud people and would like to believe that anything they touch turns to gold. I think they will do everything in their power to make this company profitable again even if it does mean kissing and making up Therefore I see little downside in investing in this stock. This is why I purchased these shares in August at 25 cents. I guess its a waiting game.

will shareholders have an option to buy in at 5cent?

Lexus1976

Daragh101 wrote: »

will shareholders have an option to buy in at 5cent?

Only applies to bond holders.

Goodbody is now recommending this stock as a buy

http://www.rte.ie/business/2009/morningrep/download/0924goodbody.pdf

Comordha

Goodbody, smuckbody, I'd rather listen to nobody

Anyway - they have it as Neutral

Lexus1976

Comordha wrote: »

Goodbody, smuckbody, I'd rather listen to nobody

Anyway - they have it as Neutral

Ah their not that bad. Anyway this is what they have.

Spurred, it would seem, by media commentary, IN&M issued a statement yesterday on its
restructuring efforts, the summation of which appeared to broadly confirm that while a deal has
yet to be finalised, the details reported in the press are largely correct. On the basis of those
press reports and the IN&M statement yesterday, the suggestion is that a debt-for-equity swap
would see the bondholders receive 45% of the current share capital in new equity with a
subsequent rights issue at 5c aimed at addressing the outstanding €200m bond. Assuming net
proceeds raised of €200m, a debt-for-equity swap at 16c and a full take up of the subsequent
rights issue at 5c, dilution to our current 2010 EPS estimate would be of the order of 70%. While
closure, albeit with significant dilution, may well be welcomed in some quarters, we note that
Denis O’Brien met separately with the banks and bondholders yesterday and apparently
presented an alternative plan, which involves “an injection of €100m in new money”, the aim of
which would see the bondholders receive more cash upfront and less equity. A straightforward
process this is not, with further twists in the story no doubt to ensue. Expectations are that the
standstill agreement will now be extended out to the end of October.
A 48-hour pilot strike at Air Portugal will cause some cancellations from today for the airline
which has 170 scheduled flights and over 40,000 bookings for the duration of the industrial
action. AP is attempting to charter aircraft to side-step the industrial action, but the airline’s 800
pilots are looking for a 9.3% pay hike to reflect their increased productivity in recent years. We
are not too familiar obviously with their terms and conditions, but the prospect of action at the
airline which lost €72m in H1 and €320m last year shows that difficult decisions must be made
by management. Sound familiar?
Aer Lingus recently announced the appointment of a new CEO who appears to be coming with
a mandate from the board for a massive restructuring of the airline. His musings to date have
included comments about fundamentally reshaping the airline and that the unions must be
prepared for actions that will see “amputation rather than cosmetic surgery” (our personal
favourite remark). AL recorded an Operating Loss of €93m in H1 and we have pencilled in a
further €48m in H2, though the cash burn in the H1 period, from €654m at end December to
€440m by June was more worrying. Our analysis shows that labour costs at AL are the single
largest discrepancy between the cost structure at AL and its competition. While a bit of a crude
measure and partly skewed by long haul, the number of staff per aircraft at AL is 97 versus
approximately 37 at both Ryanair and easyJet. So it is clear that the management is on a
collision course with the unions in the months ahead (à la Air Portugal?). However, our H2
operating loss forecast shows that planes in the air will be a cost to the airline (and
shareholders). So maybe the prospect of industrial action is the lesser of two evils, since planes
on the ground will cost less than those in the air. Some food for thought which may imply a
management team that could be more relaxed about absorbing industrial action.
In a brief pre-close trading statement for the 12 months to the end of August, Superglass has
indicated that trading conditions have remained at similar levels to that reported in the mid-July
IMS. As a result, it confirms that trading is “broadly” in line with market expectations. In the July
IMS, Superglass highlighted a competitive environment but was seeing a pick-up in demand
from the CERT programme. Overall, this statement is encouraging as it points to some stability
in the market. Kingspan’s insulation board business is set to represent c.20% of group sales in
FY09.
4
MORNING WRAP
Recommendation; Buy
Closing Price: €0.30
Gerry Hennigan
T +353-1-6419274
E gerry.f.hennigan@goodbody.ie

elrap

In my opinion this is definately a long term play that could prove very profitable. With the O'Reillys on one side and Desmond on the other, both are very proud people and would like to believe that anything they touch turns to gold. I think they will do everything in their power to make this company profitable again even if it does mean kissing and making up Therefore I see little downside in investing in this stock. This is why I purchased these shares in August at 25 cents. I guess its a waiting game.[/quote]

Personally, I have lost faith in the O'Reillys. Sir Anto did everything in his power to save Waterford Wedgewood - but he failed. I'm afraid that the newspaper industry may go the same way as luxury goods. It was going to be hard enough to save INM in the face of new technologies - but this bitter row may just bring it down sooner rather than later.

Diarmuid

finisklin wrote: »

Can people see a positive short side on the SP?

Sir Tony and DOB are stripping lumps off each other and potentially, that rag, the Indo could go down the drain. Whatever about the SP, it's all positive from where I stand.

Lexus1976

INM agrees on financial restructuring


http://www.rte.ie/business/2009/0929/inm.html

Raskolnikov

No offence, but none of you guys know the first thing about how credit markets and share dilution work. Have any of you actually read the annual report of IN&M to see exactly what the debt situation is?

http://www.inmplc.com/reports/uploads/INM_Annual_Report_2008.pdf

Go to page 82 of the annual report, children. Here, you can see the outstanding debt and when it matures. €600 million of debt repayable by next year :eek: Now, considering that €200 million of this debt has been converted to equity with shareholders being diluted by a half; it's entirely possible that the €400 million due next year will also have to be converted to equity. This means shareholders will probably end up being diluted by about 80-90% overall.

Yuck, yuck, yuck!

AARRRGH

Print media is a dying industry.

Personally I think you'd be mad to buy for the long term.

pocketdooz

AARRRGH wrote: »

Print media is a dying industry.

Personally I think you'd be mad to buy for the long term.

I couldn't agree more - if any of you took even a cursory look at any research on this company or industry that would be as clear as day.

But obviously that has not been done . . .

.

JAMM222

pocketdooz wrote: »

I couldn't agree more - if any of you took even a cursory look at any research on this company or industry that would be as clear as day.

But obviously that has not been done . . .

.

utter rubbish! have you seen the latest abc/jnrs or tgi survey and compared it to the same periods over the past 5-10 years? :eek:

pocketdooz

JAMM222 wrote: »

utter rubbish! have you seen the latest abc/jnrs or tgi survey and compared it to the same periods over the past 5-10 years? :eek:

Utter rubbish? That the print media industry is not in terminal decline?

Go on . . . I don't get what you mean at all. How can you argue against that.

And I have no idea what the latest abc/jnrs or tgi survey is.



.

JAMM222

pocketdooz wrote: »

Utter rubbish? That the print media industry is not in terminal decline?

Go on . . . I don't get what you mean at all. How can you argue against that.

And I have no idea what the latest abc/jnrs or tgi survey is.



.

if any of you took even a cursory look at any research on this company or industry......
if you had taken a cursory look at the industry you would know what abc/jnrs and tgi are!!!

pocketdooz

JAMM222 wrote: »

if any of you took even a cursory look at any research on this company or industry......
if you had taken a cursory look at the industry you would know what abc/jnrs and tgi are!!!

Very clever answer but . . .

Besides the fact that I spend about 13 hours a day working as an analyst on European and US telecom and media companies I have never heard of "abc/jnrs and tgi's".

Maybe you could enlighten us all and explain how exactly they will mitigate people from thinking that print media and print advertising revenues are business models that are in terminal decline?

Thanks.

.

JAMM222

pocketdooz wrote: »

Very clever answer but . . .

Besides the fact that I spend about 13 hours a day working as an analyst on European and US telecom and media companies I have never heard of "abc/jnrs and tgi's".

Maybe you could enlighten us all and explain how exactly they will mitigate people from thinking that print media and print advertising revenues are business models that are in terminal decline?

Thanks.

.

ok maybe my answer was a bit smart and i have to agree with you ad revenue and circulation are in decline not terminally though in my opinion. ABC is the Audit bureau of Circulation which monitors newspaper sales in ireland and the uk http://www.shelflife.ie/article.aspx?id=822
JNRS is the joint national readership survey which showed flat readership figures for first half of 2009
tgi showed an increase across most titles

pocketdooz

JAMM222 wrote: »

ok maybe my answer was a bit smart and i have to agree with you ad revenue and circulation are in decline not terminally though in my opinion. ABC is the Audit bureau of Circulation which monitors newspaper sales in ireland and the uk http://www.shelflife.ie/article.aspx?id=822
JNRS is the joint national readership survey which showed flat readership figures for first half of 2009
tgi showed an increase across most titles

Thanks for that (althought you didnt explain TGI)

It's late, I'm leaving work now but just from your own link provided . . .

"some Sunday titles are bucking the general trend of falling sales affecting the newspaper sector"

"In the daily newspaper segment, sales were down for The Irish Times, Independent, Evening Herald and The Examiner, reflecting the general state of the sector. "

Trust me mate - the print media business is dying. It is all moving online. Print advertising revenues are decling and print circulation is declining. Even look at the WSJ and NY Times and the FT - all are starting to charge for online access as a means to recover from the huge, structural changes that are happening across the wider print media industry.

.

displaced dub

well im ot of the worst share i have bought to date, at a loss of course.

Bought 8600 at 0.34 sold at 0.21 today, good luck to them but i will be giving them a miss.

Pocketdooz is right about print media, i sat on the plane on monday reading the times and it dawned on me that its the first physical times i have bought in a while, why???

I read it on the net for free along with pretty much everything else.

Stupid mistake

pocketdooz

Although newspaper advertising revenue continues to fall at unprecedented rates, the pace of decline appears poised to decelerate. According to the Newspaper Association of America's Web site (NAA), print and online advertising revenue declined 29% in the second quarter, compared with 28%, 20%, and 18% in the first quarter of 2009 and the 2008 fourth and third quarters, respectively. In their second quarter earnings releases, Gannett Co. (BB/Negative/--), The New York Times Co (B/Stable/--), and McClatchy Co. (CC/Negative/--) disclosed that the newspaper ad revenue fall moderated in the months of June and July, compared with the second quarter. Although the acceleration in declines appears to be losing steam, our outlook on the industry remains bleak, and we don't foresee ad revenue growth returning. It's difficult to estimate at this time what would likely represent a moderated pace of newspaper ad revenue deterioration when the U.S. economy begins to recover.

We presently expect newspaper ad revenue to fall in the low-teens percentage area in 2010, which would be a vast improvement over 2009, due to our expectation of a U.S. economic recovery next year and easier comparisons versus the severe ad revenue declines of this year. According to the NAA, classified advertising revenue fell 40% year over year in the three months ended June 2009. National and retail revenue declined at 30% and 25%, respectively, in the quarter, and online revenue declined 16%. Year to date, newspaper companies that we rate have experienced year-over-year EBITDA declines in the 35% to 65% range. Ratings incorporate our expectation that EBITDA declines will moderate in the second half of the year due to realized cost-cutting initiatives and our assumption that newspaper advertising revenue falls won't worsen.

Sales of newspaper publishing assets continue to be limited, and the exceptions are few and far between. While The New York Times has hired Goldman Sachs to court potential buyers of its New England Media Group, which includes the Boston Globe, the timing or completion of a potential sale remains unknown. Gatehouse Media Operating Inc. (CCC+/Negative/--) recently sold a few assets in Iowa for less than $2 million, and The New York Times sold a community paper in Alabama for $11 million at the end of March. Also, a private Chicago investor group recently offered to purchase the Chicago Sun–Times out of bankruptcy for $5 million.

Lexus1976

Raskolnikov wrote: »

No offence, but none of you guys know the first thing about how credit markets and share dilution work. Have any of you actually read the annual report of IN&M to see exactly what the debt situation is?

http://www.inmplc.com/reports/uploads/INM_Annual_Report_2008.pdf

Go to page 82 of the annual report, children. Here, you can see the outstanding debt and when it matures. €600 million of debt repayable by next year :eek: Now, considering that €200 million of this debt has been converted to equity with shareholders being diluted by a half; it's entirely possible that the €400 million due next year will also have to be converted to equity. This means shareholders will probably end up being diluted by about 80-90% overall.

Yuck, yuck, yuck!

Now now, thats a bit harsh! There are a lot of reasons why individuals invest in companies and these companies do not have to be profitable. Just because a company is in debt does'nt mean you black list it. And besides a majority of people investing in INM are doing so because they believe that this is a recovery company. Sure its a risk, but I believe its a risk worth taking.

If you have invested in this company,and have not done your research I'd recommend doing some home work.

rugbyman

displaced dub wrote: »

well im ot of the worst share i have bought to date, at a loss of course.

Bought 8600 at 0.34 sold at 0.21 today, good luck to them but i will be giving them a miss.

Pocketdooz is right about print media, i sat on the plane on monday reading the times and it dawned on me that its the first physical times i have bought in a while, why???

I read it on the net for free along with pretty much everything else.

Stupid mistake

not an expert on this but i am told that advertisers,few as they are, factor in the numbers of those who read the ad on line rather than paying for the actual paper. The same applies to advertisers on SKy, who now factor in the numbers of viewers on illegal receivers.
regards, rugbyman

PiperT

Any global media player worth its salt will already have developed a strategy to deal with the shift to the online World. Its all about balance. INM management will be acutely aware of the need to integrate the online world into its business model and they have in fact been doing that. They also have revenue streams from other lines of business which are non-print media related. To say the industry is dead is scare-mongering in my opinion. Its no different to the evolution of online retailing. They all said bricks'n'mortar retailers were dead. The end result is a retail world that has a healthy balance between online and high street and the clever retailers are the ones that do both. There's room for both and its just about finding the balance. I believe INM and clever guys like DOB will be very much aware of where the opportunities rest into the future, and they will be diverse and will take account of the shift to online media. DOB would not be willing to risk 100m+ of his own cash without having done his due diligence, he has a track record second to none and I for one believe he knows an opportunity when he sees one. I have been sitting on the fence on this to see what the outcome of the bondholder issue would be. This is a distressed stock. It is not for the faint-hearted but represents serious upside potential. I can see it hitting 15c - then i'll be filling my boots !

Gavin O'Reilly on TV3 now...gonna watch that with interest.

Lexus1976

Missed the interview on TV3, was it any good? I believe Denis O'Brien is going to make another presentation to bondholders this week.

PiperT

Lexus1976 wrote: »

Missed the interview on TV3, was it any good? I believe Denis O'Brien is going to make another presentation to bondholders this week.

Obviously very one-sided in that it only gave O'Reilly's account of things but I think its fair to say he knows his industry. He made some very fair and valid points and was receptive to criticism. What he's really saying is he's only 5 months in the job and his ability/performance will be measured on the shareholder value he delivers in the long term. He appears very confident that he can deliver.

When all this brinkmanship stuff is out of the way I believe either side has the ability to take INM forward. A bit more turbulence along the way to be expected. Its great watching these guys trying to outsmart each other.

Peter Fitz

Does anyone know if the INM rights issue is available to ordinary shareholders? I was under the impression that it was - and that the option to take up would be available from today?

rugbyman

i have some shares in INM and i assume I am an ordinary shareholder
i received a letter offering me the new issue, and If I dont respond they will be sold at whatever they fetch and I get any surplus over the price, 5 or 6 cent ,do not remember.
Rugbyman

Peter Fitz

Cheers rugbyman, i've an account with davy and normally if there's a rights issue the allocated shares just comes up in my portfolio and i have the option to buy ... reckon they haven't gotten around to updating their on-line accounts yet ... from everything i've read it is open to ordinary shareholders ... did you take them up?

Lexus1976

I'd be interested if anybody is looking to buy or sell indo shares.

displaced dub

Lexus1976 wrote: »

I'd be interested if anybody is looking to buy or sell indo shares.

Comedy Gold, lexus do you right all your own gags???:D:D:D:D

Lexus1976

displaced dub wrote: »

Comedy Gold, lexus do you right all your own gags???:D:D:D:D

Deadly serious mate

Did you sell your INM shares in the end?

pirelli

I have read about a 81% dilution.
Are they offering to sell shares at .5 cents ?

Raskolnikov

pirelli wrote: »

I have read about a 81% dilution.
Are they offering to sell shares at .5 cents ?

It's not that bad. The number of new shares issue will dilute shareholders essentially by 50%, assuming they don't take the offer up.

rugbyman

Peter Fitz wrote: »

Cheers rugbyman, i've an account with davy and normally if there's a rights issue the allocated shares just comes up in my portfolio and i have the option to buy ... reckon they haven't gotten around to updating their on-line accounts yet ... from everything i've read it is open to ordinary shareholders ... did you take them up?

I intend to ,( reminder to myself, post that letter today)

Response to Pirelli, yes they are, 5 cent.

Another lesson learned here for me.
it is some years since i was involved in a rights issue, or followed one.
i reckoned the ordinary share price, hovering around 20 when the rights issue was announced, would fall some what.
had i known it would fall so much i could have sold mine and bought back , yesterday at 11 cent and pocketed the difference(less costs).

Equally so, if my aunt had b.lls ,she would have been my uncle.

Regards, Rugbyman

imme

Lexus1976 wrote: »

Goodbody MORNING WRAP
Recommendation; Buy
Closing Price: €0.24

are they down to 10c? today, maybe thy're still a buy:cool:

Lexus1976

imme wrote: »

are they down to 10c? today, maybe thy're still a buy:cool:

Correct!!! This is a recovery buy and not based on the share price or fundamentals.

Although the recovery will not happen over night.

eire2009

Tempting .. I may wait for a lil rise before a buy a few shares. not the same amount that I did, I sold at 32 cent back in may thank god:P...

displaced dub

Lexus1976 wrote: »

Deadly serious mate

Did you sell your INM shares in the end?

Hi Lexus

Yeah sold out at about 23 cents after buying at 34cent, happy that i did seeing where they are today.

Think a lot of people were hoping for good profit today on the 5cent share but last looking at it, it was down approx 15% and the main INM was down similar.

A loss is a loss in my view its just the severity of it that hurts the most.

Best of luck with your holding and keep up the comedy gold:D:D:D

Lexus1976

displaced dub wrote: »

Hi Lexus

Yeah sold out at about 23 cents after buying at 34cent, happy that i did seeing where they are today.

Think a lot of people were hoping for good profit today on the 5cent share but last looking at it, it was down approx 15% and the main INM was down similar.

A loss is a loss in my view its just the severity of it that hurts the most.

Best of luck with your holding and keep up the comedy gold:D:D:D

Tut tut tut, you cant expect to make a profit in a recovery share after a few weeks :rolleyes:


I dont think anybody was looking for a good profit today, I dont really understand what your talking about.

I think a lot of people were increasing their holding in the stock by buying in at a rights issue of 5 cents per share.

Anyway best of luck with your decision.

ranger4

Are we Likely to see further shorterm downside with sp? Many investors quote IN&M as a dog but even with co. Large debt and more due for payment next year does anyone see the company and sp slowly recovering possibly late 2010? anyone being buying at 0.10 sp range?

Lexus1976

Independent News & Media bucked the market trend. More than 44 million INM shares changed hands yesterday, with one broker noting interest from both private and institutional investors. The announcement that the media group had sold its 49 per cent stake in German price comparator website Verivox for €18.3 million lifted the share price.

http://www.irishtimes.com/business/markets/1224260297226.html

This share should have hit rock bottom now, the only way is up

Raskolnikov

Lexus1976 wrote: »

This share should have hit rock bottom now, the only way is up

You can't make an unqualified statement like that. If you don't think that a newspaper company can go bankrupt, then I highly suggest that you take a look at the Sun-Times Media Group, an even bigger media company than IN&M who went belly up earlier this year. Sun-Times may have been run by a crook, but IN&M have lots of similarities with Sun (debt, bad corporate governance, awful capital allocation, etc).

For the record though, at under 10 cent, IN&M is finally starting to look interesting to me. I'm going to do a balance sheet analysis and see if the numbers add up over.

Lexus1976

Raskolnikov wrote: »

You can't make an unqualified statement like that. If you don't think that a newspaper company can go bankrupt, then I highly suggest that you take a look at the Sun-Times Media Group, an even bigger media company than IN&M who went belly up earlier this year. Sun-Times may have been run by a crook, but IN&M have lots of similarities with Sun (debt, bad corporate governance, awful capital allocation, etc).

For the record though, at under 10 cent, IN&M is finally starting to look interesting to me. I'm going to do a balance sheet analysis and see if the numbers add up over.

Well I just did

pirelli

What the situation with the rights offering, Can you buy them for 5 cents on DAVYS.

Lexus1976

pirelli wrote: »

What the situation with the rights offering, Can you buy them for 5 cents on DAVYS.

Did'nt realise you had shares with IN&M. Yeah you should be able to. Hard to believe that these share were over €6 at one stage.

ranger4

Lexus1976 wrote: »

Did'nt realise you had shares with IN&M. Yeah you should be able to. Hard to believe that these share were over €6 at one stage.

Out of the two in&m trading share options new and ord do they both offer same potentail for investors whether it be possitive or negitive.