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May 16, 2008

The end of an era at Johnston Press

By Peter Kirwan MM blog

A few points on the Johnston Press rights issue.

First of all: the discount at which investors will be able to buy new shares issued by Johnston is massive: 61%.

Remember, too, that the company’s share price has already plummeted from 275p in January to 115p now. The new shares will be available at 53p a pop.

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