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Finally got mine last week. Took forever. Was of course peanuts. I have gambled it on a very high risk and unlikely AIM stock.
So, let me get this right... Mr Day buys Bonmarche on the cheap, enters administration (causing remaining shareholders to lose everything), then 'rescues' by buying it with his other company Pea****s and has the company minus any liabilities. Absolutely stinks. There should be more robust rules to stop this sort of thing.
Is anybody here still waiting payment who accepted the takeover offer from Spectre for Bonmarche . Also if anyone has been paid could you give me an approx. date thank you.
I'm not invested here do feel very sorry for those lost their money in here.
Just reading the news it says "However, Spectre was required to give 14 days' notice of cancellation. During that notice period, Spectre passed the acceptance threshold of 75% and was consequently compelled to complete the 11.445 pence per share buy." - does it means they're paying SH 11.445p for their shares each. If so is better than last close price 8.28 - is it not?
Best price to buy them today is 9.75 ( live price )
why sell for 7p ... bunch of crooks .
Nominal value of the shares is only 1p, so looks like that's all we'll be getting back at this rate. Shares plumetting today. It's all over.
The media is talking as if this is a chronically loss making company - yet it has made millions in profit the last 5 years. This year is just a blip. Their accounts show they sold just under £80m of goods for just under £200m - they are a fantastically profitable operation. They just let the wage bill grow too high to £40m. Go into Day's EWM and there is only 1 shop assistant, yet in Bonmarche there are 2! Clearly can easily halve the wage bill saving £20m overnight. Guidance is for £6m loss (of which £4m is depreciation so cash loss only £2m). So 20m minus 6m gives £14m profit and £18m cash profit. Valued at a mere PE of 7 on £14m profit makes it worth £100m or 200p a share. Why are board recommending Day's offer then of 11.4p?? Company has almost zero long term debt or pensions liabilities. It could easily issue £20m of bonds or pref shares to the market raising the cash it needs to get through a couple of tough trading years. Every company has had a couple of years of a downturn in business. With the hot weather all the Bonmarche stores are super busy now !!
Unless some of the institutional investots sell out I don´t believe they can get the 75%.
Mine neither. Would rather write it off than get pickpocketed.
If true then it's reducing the overheads which will increase the bottom line. Stock here is so tightly held any good news will probably see it double
Company looking for voluntary redundancies from head office staff at the moment, if they dont get enough they will go through full process. Not looking good at the moment. Its been so badly mismanaged internally in the last 3 years.
They have no idea who their customer is anymore. Shame
Not giving my shares ip for 11p unless I´m forced.
Dreadful. Steer well clear
Pull down the shutters surely?
We have a Bon Marche and an M &Co on the same parade, neither is ever busy. My wife hasn’t bought anything from either for months, thank goodness!
Gawd I am surprised the QUIZ buyers are not all over this one too
It says something that with the current drop even the Directors can’t be bothered to pick up any shares. Their confidence is gone? Time to roll up the shutters and get out?
Bon shops are totally dead just like the company
Grim. Very little to be encouraged about here.
...now...they are (worse)... were's the light at the end of the retail tunnel?
could be worse
Lets see how it pans out.
Back to 80p please
going in
news due???
It's a typical panic sell reaction. The first rule of investing is never let your emotions get the better of you. News in June was positive towards online sales. Products are excellent and highly rated by customers online. Brexit will be over soon after second referendum. Store has no debt and capital in the bank. Christmas sales will be positive. Worse case scenario close a few nonprofit making stores and concentrate more on online sales.
Pointless to sell at the current SP. Better to hold or top up. Hopefully Christmas sales will bring a bit of joy for the company.