While the number of shares of Johnston Press Plc (LON:JPR) remains unchanged the strained trading range of JPR may leave an impression that company’s stock should be supped with a long spoon.
The stock of Johnston Press is poised to land at a new 52-week low only two days before the half year 2016 earnings release. Even if there is an upward move of company’s stock at the end of today’s trading, the demand on JPR is so weak, that only an extraordinary event may have change it.
Shares of Johnston Press opened the market at GBX 14 today to tumble down with 1.78% within the session. This was a natural continuation of the red investors’ mood from the end of July.
Parallel to this event is one more which may park JPR in the book of stocks’ performance records. Recently, the 52-week low of Johnston Press share price is GBX 13.50 while its 52-week high is GBX 117.50. This simply means, that those who acquired JPR at its 52-week high may count 88.51% loss on their investment.
What a wide trading diapason! At first sight, it makes impression that there has been done company’s capital restructuring.
In Resolution 14 of the Chairman’s letter and notice of the annual general meeting 2016 which has been announced this April is included a proposal for the company to purchase its own ordinary shares.
According to the proxy of Johnston Press, during the annual meeting shareholders were supposed to vote and give the company authority to purchase its own shares in the markets up to a limit of 10 per cent of its issued ordinary share capital.
Although the plan, there are no any changes done in the capital structure of Johnston Press as of today. Such a change had never been done within one-year time frame too.
Last summer the company advised that as at 3rd August 2015 the issued capital is 105,877,777 ordinary shares of 1p each.” Recently, Johnston Press announced that as at 1 August 2016 the issued company’s capital is 105,877,777 ordinary shares of 1p each.
Johnston Press plc is headquartered in Edinburgh local and regional multimedia organization. The company renders news and information services on local and regional level through its portfolio of printed publications and websites.
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