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GB Frisby is still in charge of the now private ltd company born out of the plc which was the same business as the listed company. There’s no difference he remains a director of the ‘new’ co he’s been a director throughout! IMHO DYOR
Well to be fair GB it used be this basically the same fast fashion business IN THE STYLE was listed ipo March 2023 and failed shareholders so had to be bought up for peanuts was taken private with AF still in control of the private co leaving shareholders on the listed company with massive losses! They the ‘new’ off market now co then have tried to come back to stockmarket via another cash shell ICON which is unbelievable as it’s been just under 12 months since they left their shareholders with a drum roll…a cash shell looking for RTO’s with the few pounds that they had left over! It actually stinks! You can’t blame ITS shareholders for being confused! It’s a lot to get you head around never mind the cheek of it! IMHO DYOR
I guess you are referring to ITSARM again it has nothing to do with In The Style, do you not know what you invested in at ITS?
Yes quite, https://find-and-update.company-information.service.gov.uk/company/14703986/persons-with-significant-control
Not sure where you take that from as none of those names are involved in ITS holdings 2023.
Number of shares currently in issue: 54,130,610
Shares not in public hands: 22.36%
Significant shareholders (above 3% shareholding):
INVESTOR SHARES % OF ENLARGED SHARE CAPITAL
Adam Frisby 12,103,446 22.36%
Chelverton 2,712,500 5.01%
Paul Raymond Masters 1,977,504 3.65%
Last updated on 23 February 2024.
not quite gordon.
as of last up date,
That is a fair comment but you must remember that Jaswinder Singh wasn't involved in any part of the shafting other than buying the company. He is the only significant shareholder registered on Companies house for ITS Holding 2023. Perhaps Adam will be turfed as CEO in any agreements...
Who knows... All I know is that ive been shafted a few times! Not the first time a company has been dragged down, taken private and continued to operate on an ongoing basis. Comparing ITS holding to ITSARM is not relevant now, they aren't affiliated post sale.
Analyser it was 2 years between IPO march 21 and taking the business private March 23 to leave a tiny cash shell. Appalling behaviour and no equity ever raised sort from the original IPO it was terrible! IMHO DYOR
Gordon the sentiment would be the problem after the original company shafted shareholders leaving just a small cash shell behind and the trail of destruction RNS’s info all there still to see on ITS board here. I don’t think investors will be too delighted to put their money into this project with AF after what happened! No once bitten twice shy and the I’m alright Jack attitude to have the neck to go back to the stockmarket after the carnage is still raw investors don’t forget! IMHO DYOR
Beg you pardon AGM Wed..
Perhaps we will hear more after the AGM tomorrow
In the Style raised a lot of money for selling shareholders and was sold for just £1.2 million. Shareholders lost over 99.5% of their money in around 3 years.
I wonder much Iconic shell will be paying for the RTO?
G'' ·the target, Group revenue increased by 28% to £57.3m (2021: £44.7m) if we can link it to G. S. N ? increase awareness and get ITSARM back to former glory with those type of revenue then possibility for our SP could be endless
but we will see how the deal progress before we count our chickens, and set expectation too high
Sounds about right Share, I don't think we need to re read the ITS board, strange tricks played by Adam and co but ultimately the holders of ICON are not worried about past goings on but the brand that's alive now.
Agreed not great for ITS holders but for ICON I think there's potentially some very good returns to be made. Long term would you hang by their word probably not...
ITS actually made me some great returns trading so I may be slightly biased.
Let me get this straight so ICON are doing RTO with IN THE STYLE Holdings 23 LTD after the original listed IN THE STYLE company delisted original ticker ITS last year via shareholder vote citing after strategic review their current poor liquidity position and they shafted shareholders by not even doing a raise or loan!It was then bought cheaply by another private buyer for 1.2 million who seems to buy up cheap businesses/brands. CEO and founder AF had a huge holding hence won the vote - the deal was only completed if he remained with the new company off the market. The vote went in favour of delist from stockmarket as he had the majority votes. In the time it was listed they needed funds but didn’t ever raise on the market apart from the original IPO - why on earth not? In a short period of time they were listed 18 months from memory (15th March 21 IPO)the share price plummeted until it was peanuts. He then went off into the sunset with the private buyer Baaj Capital and now it’s returning via a RTO with ICON 12 months later Jesus!? Original ITS holders must be fuming! ITS plc is currently suspended and is just a cash shell with a few 1000 k after two people stepped in to halt a winding up petition to try to do something with it - on the irony! I can’t see appetite for investing in the new ITS when so many people lost so much cash or indeed from ii either! So not the AI company so many were relying on! I suggest holders of ICON hop along to the old ITS board and look at the RNS’s especially the March 2023 one and you’ll see the story of what happened! IMHO DYOR
Maid, lets hope so! with 11 mil shares there definitely room for even a ten fold increase without batting many eye lids.
Good news which I hadn't expected,
Got the link ?
Not sure Saint I don't think so.
In the style was sold off leaving ITSARM as a separate entity/cash shell. Adam and his brand no longer have ties there.
Seems strange they want to come back to the market already, they must be doing well.
Just imagine where the SP will be if we are left to grow without conversion when we come back ?
BRAD please get it sorted with EHGOF before we come back, even if it means treble the shares in issue as that would still only be 33m and FK all, you know it makes sense if you want your SP to grow uninterrupted, if shareholders value is to be returned like you say in this RNS
So does this affect itsarm holders whose share is also suspended then Gordon ?
From ITS sale of business RNS June last year. The IN THE STYLE brand lived on separate to the ITSarm listing. Adam and the investor moved to the business we have signed terms with to RTO.
In The Style Group plc (AIM:ITS) ("In The Style", the "Company" or, together with its subsidiary undertakings, the "Group"), the disruptive and inclusive digital womenswear fashion brand, today announces the completion of its strategic review and the conditional agreement to sell its only operating subsidiary, In The Style Fashion Limited ("ITSFL"), for a total cash consideration of £1.2 million (the "Sale").
Highlights:
· Completion of the Company's strategic review ("Strategic Review"), which concludes the offer period (as defined in The City Code on Takeovers and Mergers (the "Code")).
· During the Strategic Review, the Company's board of directors (the "Board" or the "Directors"), along with its financial adviser, Lincoln International LLP ("Lincoln"), reviewed several strategic options, including a potential sale of the Company. While the Company has had positive engagement with several potentially interested parties, some of the parties made proposals that were not deemed by the Board to be deliverable on an acceptable timescale. None of the proposals involved an offer for the whole Company.
· The Company, however, received a deliverable offer for ITSFL from Baaj Capital LLP ("Baaj"), a UK-based, private family office. This offer included a pre-condition that Adam Frisby agreed to take an equity position in ITS Holdings 2023 Limited ("Bidco"), a newly established company formed for the purposes of the Sale, equivalent to his current holding in the Company and to also become Chief Executive Officer of ITSFL on completion of the Sale ("Completion").
Https://find-and-update.company-information.service.gov.uk/company/14703986/officers
Adam and his cronie Jas are coming back to the market! very interesting...
Brad Taylor, Chief Executive Officer of Iconic, commented:
"We are delighted to have entered into a heads of terms to acquire ITS Holdings 2023 Ltd. This transaction has been one of multiple opportunities carefully considered by the Board of Iconic and we believe this proposed acquisition meets our objectives and wider strategy of fostering long-term growth and value for our shareholders."
huge news indeed'' I wonder who the brand will be ? could be NEXT or Mothercare as they are both in trouble ?
FK knows but so longs as they are a popular online brand with revenue and EHGOF is sorted out before we come back to Market i don't give a FK
WELL DONE BRAD
So ITS in its formal glory is returning to the market? Adam and his former business still operating and a huge hit with the younger gen...
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