Monday, July 23, 2018

Yar

They're starting to hover over the just-about-breathing body of Johnston Press. The share price has been twitching around 3p for nearly a month, and yet there's no official word on re-structuring the company's £220m debt, costing £1.5m a month to service.

Norwegian raider Christen Ager-Hanssen, who controls around 20% of shareholder voting rights, is reported to have written to the JP Board, politely enquiring what's occurring. The bond which makes up the vast bulk of the company's debt is repayable in April 2019.

Meanwhile, former CEO (and BBC alumnus) Ashley Highfield is reborn as a non-executive of a yacht builder.


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