HIBU Smeweb reports (http://is.gd/hfpx2k) that around 400 creditors of Hibu (formerly Yell) are preparing to seize control of the publisher amid concerns that debt isn’t being cleared fast enough. Although debt matures in 2014, a D4E (debt for equity) swap is expected to wipe out between £500m and £1.5b of that figure. Given that HIBU has a market cap of £12m, that is incredibly bad for current holders. HIBU closed to 0.500p -58.33%.

JJB – it didn’t go into prepack today, despite bearish speculation. This makes sense, as it would have been premature. Bears have been speculating that any takeover is likely to be completed through a pre-pack administration so that the new owner can shed under-performing sites. JJB closed 0.340p – 16.05%


About mcturra2000

Computer programmer living in Scotland.
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s