The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Rather more optimism on the ADVFN board guys!
Personally, I think that if this is what is required to put TED on a sustainable footing to bounce back with the rest of society, so be it. Desperate times call for desperate measures. I think the rewards will come long term, if not before.
GLA!
Mr T
Two months ago they had an additional £13.5m RCF, so I can only assume they have burnt through that and the bankers have told them they need to raise. Strange when they will be getting £72m in June due to the property sale.
I'm much more concerned about the dilution.
What other mid level brands are there which occupy the same space as TED? All saints?
The BV of this is £200m, I think the prospect of being debt free has emboldered management to pursue this. Don't usually see companies raise more than the entire market cap.
With the proceeds from the property sale of £74m and this £80m, the company will be debt free.
they're looking to raise 80m - bloody terrible this is!
https://www.ft.com/content/50eb67b5-a300-44d4-8d15-62b18db7074f
Ted baker is no ASOS btw.
In response to Sky News' report, Ted Baker said it "notes recent press comment regarding the possibility of the company undertaking an equity issue".
"Since the company's strategic update on 26 February, Ted Baker, along with many businesses, has seen a marked impact on trading due to government actions to limit social interaction and movement.
"This, in addition to trading pressures from the last financial year, makes the need for a wider transformation more acute.
As a result, the company is in an advanced stage of preparation for a placing and open offer as part of a broader package of measures that the company has put in place to significantly strengthen the balance sheet."
We’ll know more on Monday.
Interesting times.
ASOS raised at a premium.
I’ve also seen this happen before, but I’m not sure they’re apples and apples.
so glad didnt buy today was so tempted, hope it turns out well for you all
On a positive note ASOS share price responded positively to a placement earlier in year.
Coupled with a strong plan could be good news, but would like to see what they want to do with the company. Also, my assumption would be they will use the money to pay down debt, but would like to see this confirmed.
Well, most of it is owned by significant shareholders - about 50% or so, so I doubt they’ll agree to participate if it’s simply throwing good money after bad.
May not happen, in which case, it’s curtains for everybody.
Interesting case study in terms of the collapse.
Another example of - not all that glitters is gold.
Will investors throw good money after bad though? Doesn’t matter how much it’s discounted if the company is failing. Surely they have to give some idea of 1) strategic plan 2) what they’re going to spend the dosh on? Otherwise investors won’t pony up.
Depends on what they announce: could be below £1
Predicting 10% drop at opening on Monday
Sounds like a disaster to me. I’m assuming you’re not invested, but it’s surely likely To be at a massive discount.
Oh dear don’t see this going down well on Monday....
Large placing to be announced
https://news.sky.com/story/coronavirus-ted-baker-to-unveil-80m-share-sale-plan-11997095