Mr Monkey has been watching the financial performance of Johnston Press the company that owns The Malcolm Fanzine Shields Gazette closely over the past 6 months. It seems they’ve not been fairing too well of late and thier share price has reached rock bottom.
One of Mr Monkey’s financial advisers has been keeping a close eye on things and for the past two months this chimp has been contemplating buying some of the company’s shares. Mr Monkey thought it would not only make financial sense, but it would also allow a bit of monkey business at the company’s AGM – imagine Papa John’s Szymanski’s face when questions aboutthe Shields Gazette and his relationship with council leader Iain Malcolm are tabled at the AGM?
Mr Monkey can now confirm that one of his holding companies has recently acquired shares in Johnston Press and will now be privy to shareholders information which he will happily share with readers of this blog.
Over the past couple of years Johnston Press has been finding trading conditions difficult and in June there was a rights issue to raise funds to help alleviate the company’s debt burden – at that time shares were valued at 53p – today the value of those shares have fallen to just 9p.
On December 24th 2007 the share price was £2.76 and just under a year later (5th December 2008) they had fallen to 8p.
Mr Monkey reckons times are hard at the Gazette Johnston Press and they’re going to get even harder for Papa John over the coming months.