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The real deal is they no longer need this approval!!!This IMO is a given!!!
I wrote this on here & the private Twitter Koovs group last week, before the herd arrived. Hope it helps.
FLFL are COMMITTED to the 28.36p placing, that is why they paid the first tranche of the 28.36p placing.
It looks like something got flagged up by RBI, even though they have allowed previous cash to go through.
They have just asked FLFL to reapply.
Yes, this could several weeks, but Alli will not let this go at this stage.
Why would he take it private with losses of £15 Million a year? That would be a massive headache for him.
He wants to keep it public.
I am also sure that he does not want to stitch up the CEO Mary Turner, who has given up £200k of her salary every year & has spent the last 4 years mainly away from her family travelling to India.
FLFL do not want this to fail. They are 9 Million GBP down on their 10 Million GBP investment- not a good look in India & all down to funding woes.
I am sure that KIshore Biyani is in extensive talks with RBI.
As a last resort, let us not forget that Lord Waheed Alli is worth 212 Million GBP
There is a reason Bollywood stars are queuing up to wear Koovs gear.
After 6 years, they have finally created a niche brand in India with a massive organically grown social media following.
I First posted this major news on the Private Koovs Twitter group yesterday.
FLFL are now fully funded with £190 million
FLFL just need to wait for RBI approval before any more 28.36p tranches are authorised. This will give a blended price of 15p.
We just have to wait & see, but a lot of great information is being shared within the group.
The amount of Bollywood stars with millions of followers on Instagram wearing Koovs gear has massively increased- not the sign of a struggling company!