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Lord Alli is one of the largest Shareholders in Koovs & will not want to see his holding diluted much further. Raising at these levels will totally destroy shareholder value with dilution.
The RBI position is not clear at all. They have said to reapply, which is very vague. Koovs will not answer any questions at the moment. Their secretary stated that any further news will be rns'd.
If Koovs are not allowed to raise any more cash via India, they will have to look elsewhere.
They can pretty much forget the UK, as the last placing of 15p with PI's has left a very sour taste with those investors. They feel very misled & rightly so.
The management, especially the CFO Robert Pursell & CEO Mary Turner have zilch credibility between them. They have bought 270,270 shares between them since being employed. Pursell has NONE.
There is no way these two failures could attend any fundraising event, they would be laughed out of the office.
Alli needs to get in a new CEO & CFO IMMEDIATELY to restore any confidence & credibility in the City.
Non exec Director chartered accountant Nina Amin could step in for the incompetent Robert Pursell as CFO.
Avni Biyani (daughter of Kishore Biyani) & Non Exec Director must now step in as CEO.
It kind of makes you think that this has all been orchestrated......
Hopefully if we get any new major investors it will force Ali into investing more into the company as well, his % holding will be massively diluted by any new investment, forcing him to load up as well?
Hopefully if we have if we get any new major investors it will force Ali into investing more into the company as well, his % holding will be massively diluted by any new investment, forcing him to load up as well?
Thanks chefmassive, I thought there was another statement made other than the RNS.
Thanks for the clarification.
Latest RNS
FLFL has confirmed to the Company that it is in the process of reapplying for approval and has confirmed its commitment to honour its investment into Koovs, whether through the existing mechanism or an alternative route should the approval not be forthcoming. However, until such point as the RBI grants this approval FLFL is not able to subscribe for any further CCPS and accordingly it is now uncertain that the full c. £6.81 million subscription for CCPS will be completed in this calendar year, as previously had been the intention.
Where/when did FLFL state a possible alternative route to funding?
This now literally priced to fail again.
Market cap around £10 million, cash £3 million, invested over £100 million in the brand, technology & platform.
Surely Lord Alli can pull something off here.
The RBI didn't throw out the deal full stop. They told FLFL to reapply.
I admit this is shocking news, but at this stage, I can not see them letting this fail. But who knows with this lot.
... Amazon were acquiring a 10% stake in FLFL..
Amazon? That would be nice..
Any thoughts guys on the following?
FLFL have stated to Koovs that they would provide an alternative route to funding if current mechanism is not approved.
If RBI does not allow, what could these routes be?
FLFL have stated to Koovs that they would provide an alternative route to funding if current mechanism is not approved.
If RBI does not allow, what could these routes be?