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INM

  • 22-11-2012 2:20pm
    #1
    lucky john
    Registered Users, Registered Users 2 Posts: 838 ✭✭✭


    has anyone any idea why INM are at 0.01 at the moment. Apart from the debt and pension problems I would have thought it would at least stabilize when O'Brien got control. its gone only one way since then.. fast.

    Has the sale in South Africa run into trouble maybe?


Comments

  • #2
    Fitz123
    Registered Users, Registered Users 2 Posts: 166 ✭✭Fitz123


    Had looked at INM a few months ago while looking at Trinity Mirror newspapers (I have a thread here on them). Am a bit surprised they did go down to .01, but given the huge amount of debt INM carry and IMHO the likelihood that ordinary shareholders are likely to suffer a massive debt for equity swap in the future and the dilutitive effects of that, not surprised about the negative market sentiment around them.

    As I said, haven't looked at them too much in the last few months, but yes understand they are looking to sell their SA business, which if I recall they took write downs on in the past. Main question is if the sale, will be above current book value or will it require further writedowns.


  • #3
    lucky john
    Registered Users, Registered Users 2 Posts: 838 ✭✭✭lucky john


    Up graded by Davies today to outperform. Is there actually light at the end of this very long tunnel yet?


  • #4
    gordongekko
    Registered Users, Registered Users 2 Posts: 5,301 ✭✭✭gordongekko


    Are davys their stockbrokers?


  • #5
    lucky john
    Registered Users, Registered Users 2 Posts: 838 ✭✭✭lucky john


    gordongekko wrote: »
    Are davys their stockbrokers?

    Yes but I'm happy to grasp any straw as far as INM are concerned. No doubt they are talking them up before the rights issue but 8c today is a bit of an improvement at least. Its in my interest that the restructuring is successful. I don't expect to get my money back any time soon(if ever) but I'll be just happy to stem the loss a bit.


  • #6
    pgav19
    Registered Users, Registered Users 2 Posts: 20 ✭pgav19


    when is the rights issue supposed to take place?


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  • #7
    lucky john
    Registered Users, Registered Users 2 Posts: 838 ✭✭✭lucky john


    pgav19 wrote: »
    when is the rights issue supposed to take place?

    No date set yet but its supposed to be before the end of the year. Its possible that if the share price continues to creeps up they may leave it until the last minute. 11c this morning which is a huge gain in a month (130%) . Instead of 3c they might go for more than double it. That didn't look possible when they first mentioned this issue.


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