IN&M?

ranger4

Anyone able to give sp for in&m this morn on ISEQ, SP is showing 0.76c bid-0.80 offer on LSE at present, rns; Independent News & Media PLC ("INM" or the "Group")



Share Consolidation and Total Voting Rights



Ticker: (Bloomberg) INM.ID/ INM.LN and (Reuters) INME.I/ INME.L



Dublin 14 June 2010



Further to the announcement issued by Independent News & Media PLC ("INM" or the "Group" or the "Company"), on 10 June 2010, the Group is pleased to announce that the proposed 1-for-7 share consolidation has today become effective.



In conformity with Regulation 20 of the Transparency (Directive 2004/109/EC), the Company announces that as of the date of this announcement:



The Company's issued share capital consists of 505,468,508 Ordinary Shares of nominal value €0.35 each of which the Company holds 5,597,076 Ordinary Shares in treasury, which do not carry voting rights. Therefore the total number of shares with voting rights is 499,871,432.



The above figure of 499,871,432 may be used by shareholders as a denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Transparency (Directive 2004/109/EC) Regulations 2007 and the Transparency Rules of the Financial Regulator.



Mr. Gavin O'Reilly, INM Group Chief Executive Officer, commented:



"Consolidation of the Group's share capital is intended to reduce share price volatility, to narrow bid/offer spreads, to increase the marketability of the Company's shares to a broader investor base; and, in time, to restore the share price to a level which better reflects INM's intrinsic worth and prospects."



- ENDS -

Raskolnikov

Haven't you answered your own question there?

ranger4

Raskolnikov wrote: »

Haven't you answered your own question there?

No, I have Live LSE not ISEQ prices thus reason for question.

Raskolnikov

Both the British and Irish listing are denominated in Euro with one British share being equivalent to one Irish share. I don't have live Irish quotes, but they're likely to be exactly the same for the reason I mention above.

I'm guessing you own IN&M; what do you think the company is worth?

Idu

Presumably this is a similar situation to the providence thread whereby the share price has been increased by 7 times or so but the actual value of the company or your holding hasn't changed

Raskolnikov

A bullish case for IN&M.

pirelli

Raskolnikov wrote: »

A bullish case for IN&M.

LOL! True IN&M possibly has prospects and with a revenue of 680 million a year, it will certainly survive but 3 billion 600 million outstanding shares is too many shares. Far far too many shares even if they had a market cap 3 times larger the shares outstanding would still dwarf that number.

If every man woman and child in ireland invested in IN&M the amount of 900 euros. Then every share in the float would be owned and they could issue more from the treasury. Good times ahead :D:D ( sarcasm)


Some reverse splits ahead.

seven-iron

Pirilli,

The number of shares should not affect the underlying value in the business? Reverse Spilts, if they did happen would only affect people who are looking for regular dividends.

If one's goal was capital appreciation, then there might be a strong case for investing. What do you reckon?