Announcement • May 16
Boehly Pulls Out of Move to Buy Scotsman Owner National World Chelsea FC owner Todd Boehly’s investment vehicle has backed out of a potential deal to buy newspaper group National World Plc (LSE:NWOR). Mr. Boehly’s Eldridge Media Holdings (EMH) business said in March that it was considering a takeover deal for the Scotsman and Yorkshire Post owner. However, shortly before a regulatory deadline on Thursday evening, his firm confirmed it has now withdrawn from the process. “EMH confirms that, following careful consideration, it does not intend to make an offer for National World,” the group told the stock market. The announcement appears to clear the way for Media Concierge, a major shareholder in National World, to buy the business. Eldridge’s interest came only a week after Media Concierge, which runs a raft of local newspapers in Ireland as well as direct mail and advertising operations, had secured approval for a £65.1 million takeover of National World. Shareholders had voted in favour of the process before Mr. Boehly indicated he could put forward a rival proposal. The withdrawal also raises questions over Mr. Boehly’s recent pursuit of the Telegraph newspaper group. Eldridge reportedly held talks with National World executive chairman, and former Mirror Group boss, David Montgomery, over a move to buy the Telegraph and combine it with National World. Abu Dhabi-based RedBird IMI has been trying to sell the Telegraph Media Group business after its original takeover of the firm was blocked by UK legislators. In October, the seller announced that owner of The New York Sun, Dovid Efune, entered exclusive talks to buy the Telegraph in a deal worth around £550 million. However, RedBird IMI is understood to now be considering a variety of potential deals, including Mr. Efune, amid difficulties from the proposed buyer to secure financing quickly. Announcement • May 01
National World Expects Delisting and Cancellation of Admission to Trading of its Shares on 28 May 2025 Further to the announcement made by National World plc (‘National World’) on 25 February 2025, National World and Media Concierge (Holdings) Limited (‘Media Concierge’) confirmed that on 31 March 2025, Neo Media Publishing Limited (‘Bidco’) received confirmation from the Republic of Ireland Competition and Consumer Protection Commission (the ‘CCPC’) of the CCPC's approval of the Acquisition (‘Phase 1 Clearance’). Subsequently, Bidco submitted a notification to the Minister for Media in the Republic of Ireland (the ‘MoM’), and is currently awaiting MoM approval of the Acquisition. A further statement will be made once the MoM decision regarding the Acquisition has been received. Pending MoM approval of the Acquisition, the Court sanction hearing in respect of the Scheme has been scheduled for 22 May 2025 and it is currently anticipated that the timetable of principal events for the implementation of the Scheme will be as set: Effective Date for the Scheme is 27 May 2025. Delisting and cancellation of admission to trading of National World Shares is By 8.00 a.m. on 28 May 2025. Announcement • Mar 28
Eldridge Media Holdings Confirms to Make Proposal to Acquire Entire Issued and to be Issued Share Capital of National World National World Plc (LSE:NWOR) noted recent speculation relating to an approach for the Company from Eldridge Media Holdings, LLC ("EMH"). The Company has received confirmation that EMH is considering making a proposal to acquire the entire issued and to be issued share capital the Company but to date no details of any such proposal has been received by the National World Board (including as to its possible terms, timing or process for implementation) (the "Possible Competing Offer"). National World reminds shareholders that the recommended scheme of arrangement relating to the acquisition for the entire issued and to be issued share capital of the Company by Neo Media Publishing Limited ("Bidco"), a newly incorporated company wholly-owned by Media Concierge (Holdings) Limited (the "Scheme") was approved by National World Shareholders on 13 February 2025. However, the Company acknowledges, for the purposes of the Takeover Code, that it is in receipt of an approach from EMH regarding a possible offer for the entire issued and to be issued share capital of the Company. The National World Board will consider the terms of any proposal put forward by EMH that may deliver superior value to National World Shareholders than the Scheme. The National World Directors emphasise that there can be no certainty that an offer will be made by EMH, nor as to the terms on which any such offer might be made. National World Shareholders should take no action at this stage. National World also confirms that there are no updates regarding the timetable for implementation of the Scheme further to that set out in the Company's announcement of 25 February 2025 and final results announcement of 21 March 2025. Further announcements with respect to the above matters will be made as and when appropriate. Announcement • Mar 22
National World Plc, Annual General Meeting, May 29, 2025 National World Plc, Annual General Meeting, May 29, 2025. Reported Earnings • Mar 21
Full year 2024 earnings released: EPS: UK£0.01 (vs UK£0.01 in FY 2023) Full year 2024 results: EPS: UK£0.01 (in line with FY 2023). Revenue: UK£96.0m (up 8.6% from FY 2023). Net income: UK£2.80m (up 3.7% from FY 2023). Profit margin: 2.9% (down from 3.1% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. New Risk • Feb 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported June 2024 fiscal period end). Share price has been volatile over the past 3 months (8.5% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.5% net profit margin). Significant insider selling over the past 3 months (UK£445k sold). Market cap is less than US$100m (UK£60.8m market cap, or US$76.5m). Announcement • Dec 19
National World plc Announces Resignation of David Fordham as Non-Executive Director National World Plc announced that David Fordham, non-executive director, resigned as a director of the Company on 18 December 2024. Mr. Fordham was a representative of Media Concierge Holdings Limited on the National World Board. New Risk • Nov 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of British stocks, typically moving 8.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (2.5% net profit margin). Market cap is less than US$100m (UK£50.9m market cap, or US$63.6m). Announcement • Nov 22
Media Concierge (Holdings) Limited proposed to acquire remaining 72.22% stake in National World Plc (LSE:NWOR) for £40.7 million. Media Concierge (Holdings) Limited proposed to acquire remaining 72.22% stake in National World Plc (LSE:NWOR) for £40.7 million on October 31, 2024. A cash consideration of £40.7 million valued at £0.21 per share will be paid by Media Concierge (Holdings) Limited. As part of consideration, £0.13 million is paid towards Long Term Incentive Share Awards common equity and £40.6 million is paid towards common equity of National World Plc. Media Concierge has made every effort to engage privately with National World and its advisers, but has had no substantive engagement to date. Media Concierge believes that the Possible Offer provides a highly attractive and deliverable opportunity for National World shareholders to realize their investment at a substantial premium in cash.
The transaction is subject to (i) the recommendation of the National World Board, (ii) the completion of limited, confirmatory due diligence, details of which have been provided to National World's advisers; and (iii) the receipt of irrevocable undertakings from the directors of National World in respect of their shareholdings in the Company, in a form acceptable to Media Concierge.
Jan Skarbek, Dominic King and David Fudge of Europa Partners Limited acted as financial advisor to Media Concierge Limited. Stephen Jones, Amrit Mahbubani, Mark Harrison and Tim Medak of Panmure Liberum Limited acted as financial advisor to Media Concierge Limited. CMS Cameron McKenna Nabarro Olswang LLP acted as legal advisor to Media Concierge Limited. Orrick, Herrington & Sutcliffe Llp acted as legal advisor to National World Plc. Stephen Keys, Ben Jeynes, Henrik Persson and Seamus Fricker of Cavendish Capital Markets Limited acted as financial advisor to National World Plc. David Poutney and James Serjeant of Dowgate Capital Limited acted as financial advisor to National World Plc. Announcement • Sep 28
Telegraph Reportedly Attracts Takeover Interest Amid Latest Auction Deadline The bidding war to buy the Telegraph newspaper business is moving nearer to its conclusion amid the latest deadline for takeover offers. Potential suitors to buy the Telegraph Media Group Limited have until the end of 27 September 2024 to submit second-round offers. It is understood at least three parties, including both UK and international firms, are in the frame to buy the business. It is the latest stage of a twisting ownership process for the historic London-based publisher. The company, and fellow publication The Spectator, were originally put on the market last year in order to help previous owners, the Barclay family, repay heavy debts to lenders at banking firm Lloyds. Following this process, Abu-Dhabi backed media investor RedBird IMI took control of the Telegraph Media Group and the Spectator. RedBird IMI is an investment fund majority-owned by Sheikh Mansour bin Zayed Al Nahyan, vice president of the United Arab Emirates (UAE) and owner of Manchester City Football Club. It is also backed by US investment management firm RedBird Capital and is led by former CNN boss Jeff Zucker. The deal drew fierce criticism over free speech concerns before it was ultimately blocked by the Government earlier this year. As a result, RedBird IMI launched a fresh sale process to sell on the titles. Earlier this month, it sold The Spectator to hedge fund tycoon Sir Paul Marshall’s OQS Ventures business for £100 million. RedBird IMI whittled down potential interested parties to buy the Telegraph earlier in the summer after an initial deadline for indicative offers. It is understood that Sir Paul Marshall is still among those involved in the auction process to buy the Telegraph, with financial support from US billionaire Ken Griffin. Yorkshire Post owner National World Plc (LSE:NWOR) is also understood to be in the process to strike a takeover deal. Potential rival bidders also include former chancellor Nadhim Zahawi, who approached a number of potential financiers in recent months to assemble a bid. Private equity firm CVC Capital Partners plc (ENXTAM:CVC), which owns sports brands including the Six Nations and La Liga, has also held talks about a potential offer, but it is not know if it remains in the process. Major Estimate Revision • Aug 08
Consensus EPS estimates fall by 27% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from UK£0.033 to UK£0.024 per share. Revenue forecast steady at UK£100.5m. Net income forecast to grow 200% next year vs 14% growth forecast for Interactive Media and Services industry in the United Kingdom. Consensus price target down from UK£0.40 to UK£0.30. Share price was steady at UK£0.16 over the past week. Reported Earnings • Aug 06
First half 2024 earnings released: EPS: UK£0.004 (vs UK£0.005 in 1H 2023) First half 2024 results: EPS: UK£0.004 (down from UK£0.005 in 1H 2023). Revenue: UK£48.8m (up 17% from 1H 2023). Net income: UK£1.00m (down 23% from 1H 2023). Profit margin: 2.0% (down from 3.1% in 1H 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 8.3% growth forecast for the Interactive Media and Services industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 24% per year, which means it is performing significantly worse than earnings. Announcement • Aug 02
National World Plc Declares Maiden Interim Dividend, Payable on 20 September 2024 National World Plc announced a maiden interim dividend of 0.2 pence per share has been approved and declared by the Board and will be paid on 20 September 2024 to shareholders on the register at 9 August 2024. Price Target Changed • Aug 02
Price target decreased by 25% to UK£0.30 Down from UK£0.40, the current price target is provided by 1 analyst. New target price is 71% above last closing price of UK£0.17. Stock is down 5.4% over the past year. The company is forecast to post earnings per share of UK£0.024 for next year compared to UK£0.01 last year. Buy Or Sell Opportunity • Jul 01
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 20% to UK£0.18. The fair value is estimated to be UK£0.15, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 17% in 2 years. Earnings are forecast to grow by 189% in the next 2 years. Buy Or Sell Opportunity • Jun 28
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to UK£0.18. The fair value is estimated to be UK£0.15, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 34% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 17% in 2 years. Earnings are forecast to grow by 189% in the next 2 years. Announcement • Jun 18
National World Plc Announces Resignation of Daniel Cammiade as Non-Executive Director, Effective June 30, 2024 National World Plc announced that Daniel (Danny) Cammiade, non-executive director, has informed the board that he will resign as a director of the Company on 30 June 2024 at the end of his three year term. Announcement • Jun 01
National World plc Approves to Declare A Final Dividend, Will Be Paid on 10 July 2024 The Annual General Meeting of National World plc was held on 30 May 2024 approved to declare a final dividend of 0.55 pence per ordinary share which will be paid on 10 July 2024 to all Shareholders who are on the register of members of the Company on 7 June 2024. Announcement • May 01
National World Plc, Annual General Meeting, May 30, 2024 National World Plc, Annual General Meeting, May 30, 2024, at 10:00 Coordinated Universal Time. Announcement • Apr 23
National World plc Announces the Appointment of Andrea Davies to the Board as Independent Non-Executive Director National World Plc announced the appointment of Andrea Davies to the Board as an Independent Non-Executive Director with immediate effect. Andrea has over 20 years' experience in consumer media in executive board positions at leading publishers IPC Media, Time Inc. UK, TI Media and Future. With a remit spanning M&A and strategy as well as leading significant business units, she has led some of the UK's most iconic magazine brands through their transformation from legacy print to digital media. She is currently Independent Non-Executive Chairman of InterMedia Brand Marketing Limited and Intersend Limited, Independent Non-Executive Deputy Chairman of RCN Publishing Company Limited (the publishing subsidiary of the Royal College of Nurses) and an Independent Non-Executive Director of Public Digital Holdings Ltd. Declared Dividend • Mar 24
Dividend increased to UK£0.0055 Dividend of UK£0.0055 is 10.0% higher than last year. Ex-date: 6th June 2024 Payment date: 10th July 2024 Dividend yield will be 3.8%, which is higher than the industry average of 1.6%. Sustainability & Growth Dividend is covered by both earnings (38% earnings payout ratio) and cash flows (58% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. EPS is expected to remain steady over the next year, which should provide adequate earnings cover for the dividend. Announcement • Mar 23
National World plc Reaffirms Earnings Guidance for the Full Year 2024 National World Plc reaffirmed earnings guidance for the full year 2024. For the year, the company maintains its guidance for 2024 to deliver revenue of £100 million. Reported Earnings • Mar 22
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: UK£0.01 (down from UK£0.02 in FY 2022). Revenue: UK£88.4m (up 5.1% from FY 2022). Net income: UK£2.70m (down 48% from FY 2022). Profit margin: 3.1% (down from 6.2% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 23%. Buy Or Sell Opportunity • Mar 07
Now 26% overvalued The stock has been flat over the last 90 days, currently trading at UK£0.14. The fair value is estimated to be UK£0.12, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 46% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 15% in a year. Earnings are forecast to grow by 84% in the next year. New Risk • Feb 16
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended July 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported July 2023 fiscal period end). Short dividend paying track record (1 year of continuous dividend payments). Share price has been volatile over the past 3 months (7.3% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (4.1% net profit margin). Shareholders have been diluted in the past year (3.2% increase in shares outstanding). Significant insider selling over the past 3 months (UK£320k sold). Market cap is less than US$100m (UK£44.2m market cap, or US$55.6m). Recent Insider Transactions • Feb 09
COO & Executive Director recently sold UK£320k worth of stock On the 6th of February, Mark Hollinshead sold around 2m shares on-market at roughly UK£0.16 per share. This transaction amounted to 58% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Mark's only on-market trade for the last 12 months. Announcement • Jan 19
National World Plc to Report Fiscal Year 2023 Results on Mar 21, 2024 National World Plc announced that they will report fiscal year 2023 results on Mar 21, 2024 Announcement • Jan 18
National World Plc Provides Earnings Guidance for the Fiscal Year 2023 and 2024 National World Plc provides earnings guidance for the fiscal year and 2023 and 2024. For the year 2023, The Company expects Revenue to be not less than £88.0 million, underpinned by robust digital revenue growth of 13% with print revenue declining by 2% compared with the previous year.For the year 2024, the company expects revenues in excess of £100 million. Announcement • Oct 18
Barclay Family Reportedly Lines Up £1 Billion Bid for Telegraph Ahead of Auction THE Barclay family has put forward a £1 billion offer for The Telegraph to Lloyds Banking Group plc (LSE:LLOY) in the hope of regaining control of the publisher ahead of a looming auction. The family, which owned Telegraph Media Group Limited (TMG) for almost two decades, is understood to have secured financing from Abu Dhabi investors in a development first reported by Sky News. Members of the Abu Dhabi ruling family are reported to be involved in discussions, including the Manchester City Football Club majority shareholder Sheikh Mansour bin Zayed Al Nahyan. Lloyds Banking Group declined to comment. The offer is the latest attempt by the Barclays to regain control of The Telegraph, which was placed into receivership by Lloyds Bank following a dispute over unpaid debts. It comes only weeks after a proposal for £725 million was submitted. Lloyds currently owns The Telegraph but has no involvement in editorial matters. The latest bid comes ahead of the start of a planned auction for the group, which is expected to begin as soon as this week. Several bidders have already expressed an interest, including hedge fund manager and GB News owner Paul Marshall, who has lined up backing from American billionaire Ken Griffin. The Daily Mail has also expressed an interest and is said to have held discussions with investors in the Middle East about a possible bid. Others to have publicly said they are keen to bid include National World Plc (LSE:NWOR), a local newspaper and news website publisher founded by a former editor of the News of the World, and German media giant Axel Springer SE, which owns newspapers Bild and Die Welt. Axel Springer previously lost out to the Barclays in a bidding war for The Telegraph in 2004. William Lewis, a former editor of The Telegraph, has said he had also lined up funding for a potential takeover. Any deal would have to be cleared by media and competition regulators. Announcement • Oct 01
National World Plc (LSE:NWOR) acquired Midland News Association Limited/Press Computer Systems Limited and Press Computer Systems Limited from Claverley Group Limited for £11 million. National World Plc (LSE:NWOR) acquired Midland News Association Limited and Press Computer Systems Limited from Claverley Group Limited for £11 million on September 29, 2023. The consideration for the acquisitions, which excluded certain material real estate assets, was £11 million paid in cash at completion. The sale of the MNA will result in Claverley Group exiting from regional newspaper publishing and as such, the sale of Press Computer Systems was a logical extension to the deal for both parties. The newly-acquired titles also include a range of paid-for and free weeklies in the Midlands, Shropshire, Wales plus farming and lifestyle magazines. David Poutney and James Serjeant of Dowgate Capital Limited acted as advisor to National World.
National World Plc (LSE:NWOR) completed the acquisition of Midland News Association Limited and Press Computer Systems Limited from Claverley Group Limited on September 29, 2023. Announcement • Sep 22
National World Reportedly Sounds Out Investors for Telegraph Bidding Group British publisher National World Plc ((LSE:NWOR) is sounding out potential investors to help finance a bid for the Telegraph Media Group Limited, three people with knowledge of the move said. Founded by British newspaper veteran David Montgomery, London-listed National World last month confirmed its interest in the Telegraph group, which also includes the Spectator magazine, and is the latest potential buyer to gear up a bid. The Scotsman publisher has held discussions with equity and debt investors for a possible deal for the politically right-of-centre Telegraph group, two of the people said. The sources, who spoke on condition of anonymity because the matter is private, said deliberations remain at an early stage. A National World spokesperson declined to comment. Among those National World is considering trying to team up with on a Telegraph bid is hedge fund manager Paul Marshall, the people said, adding that it plans to approach him imminently. A spokesperson for Marshall, who is co-founder of London-based hedge fund Marshall Wace, declined to comment. Sky News reported previously that Marshall had hired investment bank Moelis to advise on a possible bid for the Telegraph. Announcement • Aug 11
National World to Consider Participating in Telegraph Media Sale Process National World Plc (LSE:NWOR) announced that it will consider participating in the Telegraph Media Group Limited sale process as and when it starts and that the board continued to evaluate accretive opportunities to grow the business. The London-listed news publisher said on August 10, 2023 that it noted media speculation that it was a possible participant in the sale process. The company said there can be no certainty that an acquisition will take place nor what the terms of such a transaction would be. ‘As the company has previously announced, its growth strategy is rooted in actively exploring opportunities to build its business through acquisitions and implementing its new operating model for owned assets’, it said. Major Estimate Revision • Aug 07
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from UK£87.0m to UK£86.0m. EPS estimate also fell from UK£0.031 per share to UK£0.026 per share. Net income forecast to grow 100% next year vs 8.7% growth forecast for Interactive Media and Services industry in the United Kingdom. Consensus price target of UK£0.40 unchanged from last update. Share price fell 2.6% to UK£0.18 over the past week. Reported Earnings • Aug 02
First half 2023 earnings released: EPS: UK£0.005 (vs UK£0.012 in 1H 2022) First half 2023 results: EPS: UK£0.005 (down from UK£0.012 in 1H 2022). Revenue: UK£41.6m (down 4.4% from 1H 2022). Net income: UK£1.30m (down 58% from 1H 2022). Profit margin: 3.1% (down from 7.1% in 1H 2022). Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Interactive Media and Services industry in the United Kingdom. Announcement • May 25
National World plc Approves Final Dividend, Payable on 5 July 2023 National World Plc at the Annual General Meeting held on 24 May 2023 approved to declare a final dividend of 0.5 pence per ordinary share which will be paid on 5 July 2023 to all Shareholders who are on the register of members of the Company on 2 June 2023. The ex-dividend date for these purposes is 1 June 2023. Reported Earnings • Mar 17
Full year 2022 earnings: EPS misses analyst expectations Full year 2022 results: EPS: UK£0.02 (down from UK£0.028 in FY 2021). Revenue: UK£84.1m (down 2.2% from FY 2021). Net income: UK£5.20m (down 1.9% from FY 2021). Profit margin: 6.2% (in line with FY 2021). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to stay flat during the next 2 years compared to a 7.6% growth forecast for the Interactive Media and Services industry in the United Kingdom. Announcement • Jan 18
National World plc Provides Revenue Guidance for the Full Year 2022 National World Plc provided revenue guidance for the full year 2022. For the year, the company expected revenue to be not less than £84.0 million, underpinned by robust digital revenue growth of 25% with print revenue declining 7% compared with the previous year. Announcement • Jan 17
National World Plc to Report Fiscal Year 2022 Results on Mar 16, 2023 National World Plc announced that they will report fiscal year 2022 results on Mar 16, 2023 Announcement • Jan 08
National World Plc (LSE:NWOR) acquired ScoopDragon Publishing Limited and Not A Newspaper Limited. National World Plc (LSE:NWOR) acquired ScoopDragon Publishing Limited and Not A Newspaper Limited on January 6, 2023. David Poutney and James Serjeant of Dowgate Capital Limited acted as financial advisor and as broker to National World
National World Plc (LSE:NWOR) completed the acquisition of ScoopDragon Publishing Limited and Not A Newspaper Limited on January 6, 2023. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 4 non-independent directors. Independent Non-Executive Director Danny Cammiade was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 04
National World Explores Possible Takeover of Publisher Reach The London-listed news publisher National World Plc (LSE:NWOR) said it hasn't yet approached the board of Reach to talk about a possible offer. The company released the statement noting recent press speculation about the takeover. Announcement • Sep 15
National World plc Announces Exceptive Changes National World Plc announced the appointment of David Lindsay as Non-Executive Director. Mr. Lindsay joins the board and will Chair the Company's Audit committee. He has over 35 years' industry experience gained in senior UK and international roles as Chief Executive and Chief Financial Officer for listed and non-listed businesses. Since April 2022 he has been a Non-Executive Director of TP Group plc, the AIM-listed aerospace and defence business, having joined as its Chief Executive in July 2021. His previous roles include leadership positions with EDM Group Ltd, Initial plc, Collins Stewart plc, Bezier plc and AEA Technology plc. Mr. Lindsay is a Chartered Accountant and a Qualified Corporate Treasurer. The Company also announced the appointment of Sheree Manning as Acting Finance Director. She will join the management board and work closely with the Company's leadership team on all Group financial matters. Contemporaneously Vijay Vaghela has stepped down from the board following his resignation announcement. Reported Earnings • Aug 02
First half 2022 earnings released First half 2022 results: Revenue: (down 100% from 1H 2021). Net income: (up UK£900.0k from 1H 2021). Profit margin: (up from net loss in 1H 2021). Announcement • Jul 24
National World plc Announces Resignation of Steve Barberas as Director Further to the Company's announcement of 29 June 2022, concerning the resignation of Steve Barber, National World has been informed by Mr. Barber that he wishes to stand down as a director ahead of the expiry of his notice period. His resignation has been accepted by the board with immediate effect. The board has commenced the process of recruiting another independent director and will provide a further update in due course. Announcement • Jul 01
National World plc Announces Resignation of Vijay Vaghela as Chief Operating Officer National World Plc announced that Vijay Vaghela, Chief Operating Officer, has given the board notice of his resignation, effective on 30 June 2023, to subsequently pursue other business interests. During this period the board will appoint Mr. Vaghela's successor and ensure an orderly handover. Announcement • Jun 30
National World plc Announces Resignation of Steve Barberas Non-Executive Director National World Plc announced that Steve Barber, non-executive director, has informed the board that he will resign as a director of the Company in September at the end of his three month notice period. The board thanks Steve for his service and will commence the process of recruiting another independent director. Announcement • May 27
National World plc Provides Revenue Guidance for the 21 Week Period to 28 May 2022 National World Plc provided revenue guidance for the 21 week period to 28 May 2022. Revenue for the period is expected to grow by 4% year on year with 5% growth in the first quarter and growth of 1% in April and May. Board Change • Apr 27
Less than half of directors are independent There are 7 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 7 new directors. No experienced directors. No highly experienced directors. 2 independent directors (5 non-independent directors). Executive Chairman & CEO David Montgomery is the most experienced director on the board, commencing their role in 2019. Senior Independent Non-Executive Director Steve Barber was the last independent director to join the board, commencing their role in 2019. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Apr 06
National World Plc, Annual General Meeting, May 26, 2022 National World Plc, Annual General Meeting, May 26, 2022, at 10:30 Coordinated Universal Time. Announcement • Dec 16
National World plc Provides Revenue Guidance for the Second Half and Full Year Ending 1 January 2022 National World Plc provided revenue guidance for the second half and full year ending 1 January 2022. The company’s revenue for the full year is expected to be c.£85 million with revenue in the second half expected to be broadly in line with the second half of 2020. Announcement • Jun 02
National World plc Provides Revenue Guidance for the Year to Date of 2021 and for the Month of April and May National World Plc provided revenue guidance for the year to date of 2021 and for the month of April and May. For the period, the company expects total revenue for the year to date of GBP 34.2 million.
For the month of April and May, the company expects total revenue to be 18%.