#ITV – H1 adj. EPS +2%, DPS 1.7p, argues “on track”
- 2022-07-28 07:31:15
It is now over a year since I wrote about ITV plc (ITV). I am trying to think if I have watched the channel since then but certainly, judging by the over 40% share price fall since, it was wise to observe last May that “if you don’t own it…you can chill…overall like the majority of TV in my opinion a bit of a yawn”. Have I changed my mind at any level today?
I noted yesterday that in a late-afternoon RNS Edge Performance VCT (EDGH and EDGI) was proposing to consign its I-shares to the dustbin, paying out the remaining 3.39p due to shareholders (by borrowing the cash from the H-share pool) and denying I-shareholders the chance to vote at the still to-be-reconvened AGM. This, despite a promise in the full year results published 24 August, to see all its directors face re-election in 2021.
I don’t like being bullied – even indirectly by clairvoyant PR guys. So when Tom Winnifrith reported taking a call regarding my pieces on Edge Performance VCT (EDGI and EDGH) and the one director on its Board, Sir Peter Bazalgette, to be facing re-election by grateful shareholders (no sniggering at the back) – if, that is, Edge ever gets around to reconvening its AGM which was adjourned way back on 31 August 2021, some two and a half months ago – I took a trip to Companies House. Toff ITV NED Edward Bonham-Carter will no doubt wish to overlook this as well as Sir Peter is just a jolly fine chap and not some dirty oik.
The toffs always look after each other, whether it is at Westminster or in the world of big business. In Britain 2021 there are no standards. All sense,or pretence, of decency has gone. On Friday Nigel wrote to ITV (ITV) asking very legitimate questions about the outside business interests at Edge VCT of its chairman Sir Peter Bazalgette. For his efferts we had a psychic PR man claim - falsely - that he had his facts wrong without being able to name one such error. Now the patrician senior NED at ITV, Edward Bonham-Carter, has replied to Nigel.
Hello, Share Snatchers. Due to the surge in armchair viewing as a result of Covid, I’ve suggested before that ITV plc (ITV) would be a jolly investment. And so it’s proved, as we can see from a nine months trading update just out from the big telly company. It boasts that the period has been ‘outstanding’.