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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
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.
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 :)
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.
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
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.
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.