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If they thought this was going to the wall they'd bail and recover what money they could and take a loss.
It's pretty obv why institutions and large shareholders aren't selling.... DYOR and also look at what SP they might have bought at...... how long have they been holding....
DYOR
So much for the share price collapsing on no news this morning. Institutions and large holders just aren't selling. If you're looking for a sign I'd say that's a pretty decent one.
You now have your Peel Hunt RNS
Yes 'he is the founder' and 'it's his baby' blah, blah, blah. BUT I for one would support a motion of 'no confidence' and demand his resignation as CEO, if this was (as seems likely) to continue as a Public Listed Company. JD should resign, once this farce has concluded. He is not fit for purpose as CEO. Perhaps he could become something a bit namby-pamby like 'Chairman of Superdry'. Just not a sharp-end role such as CEO! It's very clearly not his strong suit.
Book incredibly strong.
Market Makers are only sellers below 70
If you’re holding out for news on the takeover, it doesn’t matter if we go down 5% or up 5% today.
Just sit back, and relax. Happy Easter.
Same happened at ASOS and BOO, it is forward that matters now, and yes agree shareholder value has been aweful while he has been CEO. However, doesn’t change that he wants to own all of it now at the price acceptable to the board and then continue to streamline post covid, post supply shocks, post inflation nightmare and interest rate rises. I, and JD clearly, believe current market cap is not correct for the CURRENT state of the business and the future prospects!
SavvyInvestor - if presiding over a share price collapse of 94.46% in your tenureship as CEO is an "impressive turnaround" then I would love to hear what you think a poor effort looks like! Dear God, JD has been a total disaster for SDRY!! Like a total disaster. Shareholders have been almost completely wiped-out, because of JD being the CEO. The buck stops with the CEO and nobody else...and that CEO has been JD. Nearly 95% is NOT an "impressive turnaround".
Exactly - they have to update today of progress. Simple
Company is worth more than its market cap and JD knows this
Back to 30p Gary D - but where next - 33p end of day I say....
I'm sure they knew 29th March was going to be a bank holiday.
Discussions with Julian Dunkerton and Potential Sponsors regarding a possible offer for the Company remain ongoing alongside the Company’s continued work on its turnaround plan, including its exploration of various material cost saving options, which is expected to be an important element of any such offer. In accordance with Rule 2.6(c) of the Code, the Company has requested, and the Takeover Panel has consented to, an extension of the relevant deadline to 5.00 p.m. on 29 March 2024. By this time Julian Dunkerton must either announce a firm intention to make an offer for Superdry in accordance with Rule 2.7 of the Code or announce that he does not intend to make an offer for Superdry, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This new deadline will only be extended with the consent of the Takeover Panel, in accordance with Rule 2.6(c) of the Code.
We know there's a strong connection for JD and he doesn't want to lose it. But he can offer whatever he likes. If it's too low then it might fail to get voted through.
In all fairness, there's still value in Superdry if they streamline the size, so much bloat at this point. And to be fair to JD he's trying but a tough trading period but we have the glimmers of light appearing now.
Why no Peel Hunt and Liberium RNS today? Any reason mo 8.5s issued yet? What is SDRY waiting for?? Have they other news they're hoping to get out first?? Must give update on extension / offer progress by noon you'd assume!
As founder and CEO for last few years he is responsible for the impressive turnaround (yes still loss making but close) closing stores, reducing inventory from 19m to 7m units and now more items sell for full price so margins steadily growing.
Why would he say he wanted to get funding to buy the company unless he will then do it. For me the only question is how much he has available if the board turn down whatever the first offer is. Worst case scenario he bids 60p and board rejects and he hasn’t much room to increase offer, all my views. The Kellets clearly believe buying 3.3% of the company at average of about 36p is a sound investment.
You don’t make huge returns without some people being fearful. The company is on solid footing and internationally has a brand that others are willing to pay £10s millions to use. I will continue to add today.
He can offer less anyway, anytime by staying below the 30% threshold.
Its already 79p, because 01/03/2023 is already more than 12 months ago. So May 2023 purchase is the price.
It has already been discussed the offer price to take the company over has to match the highest share price in the last 12 months.
Feb 1st share price approximately 132p
March1st share price approximately 113p
May 1st share price approximately 80p
So if JD can ask for another extension his offer could be a saving of roughly £50Mil
Although there is also the chance Next May checkmate his offer I believe there are on the lookout.
Just a thought.
I added 5k to the pot this am. I still think the likely hood is another extension but if it is - then it really is for a reason.
Lets see - not long to find out.
Down 27% in the last month.
STILL NO NEWS
Just tried on IG. No quote to buy for 10k, can buy 5k shares. Can sell whole lot.
Just tried to buy £10k, then £20k, with Halifax Share dealing, no problem at all! Didn't buy. Had lost £6k here in the past and recently got back £3.5K so net losses now £2.5k. Hold no shares now.
I put an order in to buy this morning and wasn’t able to either, I also placed a limit order to sell and it wouldn’t let me submit the order.
Tried to buy £8k then 4 then 2, no quotes. Can sell anything up to £50k. Work that out ladies and gents…