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I'm very pleased to say I was wrong
Just picked up on the director’s purchase. Nice to see that confidence at the price.
Nothing much might change until we get the next update due around the 6th April
I thought that there might be a rise in the sp following Bill Currie's purchase. I made a wrong assumption.
Anyone got better ideas about it?
Will the sp rocket following Bill Currie's massive buy.?
Could be worse, you could (like me) hold shares with two different brokers who both seem totally disinterested in helping their customers by requesting authorised intermediary status.
The company hasn't covered itself in glory in the way it has handled this.
Where I own shares (ISAs), I don't have any available funds.
Where I have (potentially) available funds (SIPP/trading account), I don't own any shares!
Story of my life ;-)
Interesting position WIlliam Currie Investments has taken, especially as Sir Terry Leahy, the former CEO of Tesco is part of the team
Got an email late yesterday from AJ Bell and put my order in immediately, hopefully not too late as I think this will be oversubscribed like the placing and I expect the retail offer to close well before the 16th as they’re only raising £0.5m. That said it’s only open to existing shareholders not neebies.
SOS's ability to raise bank debt is very limited because it has little, or no, tangible assets on which loans can be secured (it's the downside of being an on-line retailer) and the cost unsecured loans would likely be prohibitive. Therefore SOS is forced to have to go back to the market if it wants to raise additional funds until such time that it starts generating cash surplus to working capital requirements (at the moment it needs to reinvest its cash into acquiring new customers and inventory)
Bank debt usually comes with conditions attached and the banks can be ruthless in pulling the rug when things turn down. Personally, I'm happy with the placing and looking at the way the sp is bouncing back this morning, the market seems to agree.
Is SOS in danger of becoming the new AVO with endless placings and fundraisings pushing the sp down.
... well that was the theory. In reality the MMs are twisting the knife.
In theory the price should open at c25.95p, allowing for the existing 221m existing shares and current market value of £58m, and the proposed placing of an additional 18m at 22p (about £4m) but I guess, as is normal, a number of participants in the fundraising might look to sell existing shares and this will drag the price down further.
One can only hope that the additional cash will enable them to accelerate revenues via additional inventory and customer acquisition to offset the near term detrimental impact on the share price.
Quite a few of those shown as sales today are actually buys - definitely my purchase at sub 26p showing as a sale.
It's an interesting dynamic that could help lay the groundwork for future expansion in Europe and/or the USA. I'm not sure how much Sainsbury's will add to SOS's UK presence but it might provide invaluable feedback about a potential tie up with a large (say) US retailer in the future (I think they are targeting possible overseas expansion in 2024).
Could be worse, I guess. They could have done the deal with Tesco.
Well I didn't see that one coming. Having your first ever actual shop retail arrangement with a national supermarket chain seems to offer an interesting risk/reward dynamic. Hopefully a great deal but I have mixed feelings.
Consensus market expectation £2m PBT.
That will equate a PE of well above 25. Not too high, not cheap either.
Bought in today thinking that was a very solid update. Didn’t expect a fall - strange market these days!
Another great TU, this just goes from strength to strength
Get your missus to buy from SOS - will push up the share price!
SOS now popping. 1129 SOS items available at the Next website and we know they invested heavily in winter clothing, saving airfreight costs by ordering early via ships and trucks.
https://www.next.co.uk/shop/brand-sosandar/0-blsr