Johnston Press £212m rights issue, share price tumbles

Johnston Press facing £700m net debt ( April 2008 ) and a market captialisation of £330m plans to raise £212m in a discounted rights issue. The share price fell 21p on this news to 114.75. Malaysian group Usaha Tegas stake in Johnston Press will rise to 20% as a result.

Press coverage from sharecast: Johnston Press

UPDATE:

Johnston Press group in “perilous” position:

http://tinyurl.com/57qe8v 

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