Cobus Loots, CEO of Pan African Resources, on delivering sector-leading returns for shareholders. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
With regard to why he sold at 16p which appears a bad price in hindsight, as reported in the yesterday’s times it isn’t the first bad gamble which has lost him money. Apparently he lost £300m on a spreadbet concerning HBOS in 2008. Lost big on Debenhams too. So perhaps not indicative of where the bid may arrive.
I reckon this will be pushed to 16p or 15p at the moment, the price point FCMUK guy bought in, the bids will be more based around value of the brand and business etc so the buoyancy in the SP is expected especially as we are in a slight info vacuum up to 5th March. Pays your money and takes your chance.
As you pointed out yesterday DM, the sales look to be little and often, which without the excitement of last week, is knocking the SP back. It may panic a few out along the way, especially those who have positions on margin.
Yep investor, totally agree. Some folks have made a tidy sum and may have got bored and starting to move on, some big gains from a few weeks ago. I joined post suitors RNS. GLA
Hi everyone,
Im new, only joined in the last couple of days, missed most of the party.
Unsure why people are selling so easily before any decisions are made.
Positives their are two bidders and possibly 3rd, which is a maybe, so totally confused why people are selling so easily now.
This is the time to hold or even add if possible, If everyone stops selling then the price wont drop and the buyers will need to buy at the asking price, I am sure there is good demand now.
The higher the price the more FCCN can demand and more likely to get a very good offer, so if possible stop selling when the upside is good. My opinion only.
Hi Harry, your Ashley point is a very interesting one, he wouldn't want to lose money and I wonder how it came about that he sold to the FCMUK guy who also wouldn't want to lose money if it became a falling knife (his price seems to have been circa 16p so he is still quids in at the moment). That is all a bit baffling but it could be a way to pave the way to a deal by siding with a bidder perhaps, who knows. At least it takes our minds off Covid for a bit :)
I don't think that any bid will take into account what the BOD paid for stock several years ago, as the World has changed, and the Retail sector has been smashed to pieces.
However, French Connection as a Brand is still relevant and still has Global appeal, hence why several Digital Brand Platforms are keen to acquire it.
The potential bidders will be more than aware that Mr Marks will not be giving it away. But, everyone has their price one would suspect.
My only concern with this situation is that Ashley is out, and he's no mug. Did he believe that the upside was limited? Or did he just lose interest?
I'm sure it will all play out over time.
Would be stunned if the sale was below what the BoD paid for shares:
10-Aug-16 09-Aug-16 Buy C E Angelides 40.00 GBX 20,000 120,000
28-Jul-16 27-Jul-16 Buy C E Angelides 37.00 GBX 25,000 100,000
27-Jul-16 26-Jul-16 Buy C E Angelides 37.00 GBX 25,000 75,000
25-Jul-16 22-Jul-16 Buy C E Angelides 35.50 GBX 50,000 50,000
16-May-14 16-May-14 Buy Adam Castleton 75.00 GBX 6,600 81,600
13-Mar-14 13-Mar-14 Buy Adam Castleton 59.00 GBX 42,000 75,000
06-Nov-13 05-Nov-13 Buy Adam Castleton 37.50 GBX 33,000 0
15-Apr-11 15-Mar-11 Notification of Holding Neil Williams 0.00 0 0
09-Apr-08 09-Apr-08 Transfer From Stephen Marks 0.00 12,500 40,094,190
30-Jun-04 30-Jun-04 Sell Stephen Marks 410.00 GBX 8,894,845 40,094,190
That's the trouble with the phase we are in now, you get a load of reporting RNSs (8.5 and 8.3) and it just drones on in the background. There will be lots of play in the SP but some experienced investors are jumping in and 2 suitors lined up. 5th March is the closing date for offers. I reckon Marks will sell, he's 73 I think and should realise he's got to let go now, can probably stay on as a strategic advisor and support his other interests (tennis etc) and enjoy his hard earned loot. If he chooses not to sell, FFCN will be bought for 1p in Feb 2022 and he'll have blown his golden handshake this time around.
Yes it appears one and the same Pauly “ Pilot”, long-time supporter and cheer-leader of FCCN in the days when the SP was 70p and above. I hope he sold at those levels, not all of us did.Better luck hopefully at these levels.
If that is the chap, it’s hopefully a good sign that investing in FCCN fits with his new low risk, post crash, liquidity crunch, money from down the back of the sofa gambling strategy. Advice to all normal folk; keep your investment in illiquid stocks small, just 30k!!
8.3 is interesting. I wonder if it's this guy:
https://www.sharesoc.org/blog/education/cautionary-tale-paul-scott/
Interesting article:
https://bmmagazine.co.uk/news/mike-ashleys-frasers-group-sells-stake-in-french-connection/
"Ghura, who will already have made a paper profit of millions of pounds on the share buy, will now be key to any deal alongside Marks.
"The Frasers Group stake was bought by the Newcastle-based businessman Apinder Singh Ghura. It is understood that Ghura, who spent years in the clothing industry before shifting into other investments including property and care homes, is not linked to either party announced as interested in buying French Connection last week.
He says he does not plan to launch a bid but is leaving his options open."
They're just part of an Algorithm trade doing their thing, probably trying to sell at an average price over the day.
Most orders in the bigger stocks are generated this way, but in smaller stocks, they become more noticeable.
The wonderful World of HFT!
Looks like the shorting is kicking in and some daft tiny sells at or below £1, WTF!
Look at the silly sells:
0.99
0.74
1.24
1.00
This is less than peanuts, why would you bother selling just to 74p FFS, like I said, beware the games in play now to manipulate the SP. Ain't over till the fat lady sings, although not sure I'm allowed to say that anymore :)
Later folks, pointless watching this every minute until the bids are in.
Agreed.
I still think the situation looks very strange.
Guys, this isn't going to suddenly hit 50p or anything like that now, we are in the midst of poker, no-one is going to show their hand for a few weeks here. The closing date for offers is 5 March. I can'd work out this FCMUK geezer, he might have just been trying to get in on some FCUK sale action or might want to be a part of a new outfit post-takeover or he might fancy himself as the next NEXT. The guy has been in the clothes business (as well as fingers in other pies) for a long time so perhaps this is his attempt to try and get his hands on a major retail company.
This is going to be very interesting in my view but I'm not SP watching here for a while now as the SP is likely to get mucked about with as parties vie for influence and shorters muck about and big boys muck about.
FCUK has a lot to offer and amazing potential and needs new direction so a sale is the best way forward and Marks wants a good price and people want to buy and some of those people have a good war chest to play with.
Good luck folks.
Bit of a slow start today following yesterdays news re FCMUK
So the article suggests Frasers sold the stake at Thursday's levels?
Water under the bridge now, let's see what the current interested parties offer.
Yep, fair point Harry, good find though mate
Harry mate I'm not the BBC :) All we can do is logically guess and these boards are a place to share ideas and info. I didn't say he doesn't pay his taxes or anything like that (I'm sure he does pay his taxes) oops, digging a hole now :)
I'm sure the Journalists will be all over it as we speak - think I'll leave it to them.
Never a dull moment in this one.
Ooh Harry, FCMUK is a good find, whether if it's the same geezer I found as well...? Hmmm