Regional publisher Johnston Press is planning to reduce the number of shares it has in circulation by a factor of 50.
The reorganisation means the company will consolidate every 50 of its ordinary shares into one new ordinary one.
It is hoped the move will result in a price that JP directors believe is more appropriate for the company’s size.
The company’s current share price is 4p. The reorganisation is therefore likely to result in a share price of around £2.
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Smoke and mirrors
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Moving the deck chairs on the Titanic!!!
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We asked top loans consolidation expert Carol Vorderman for her view on this unusual shares – ahem! ‘reorganisation’.
“No, 3-4p per share is about right for a company like Johnston Press,” said the gorgeous brainbox and former star of Countdown and the Ocean Finance ads.
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It is not size that counts. It is quality.
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