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The way I read it is Apinder and his consortium have made some tentative approaches to FC at 30p a share to see how desperate they are , they , not happy with the low offer and without their permission have announced their derisory offer to the world in the hope to get some real interest from a world class player . The consortium to be fair while wealthy players are in my opinion a bit out of their depth , we need someone to buy this who is used to the worlds stage . The papers keep describing FC as a struggling, faded brand which is very unfair. They have a very loyal following and sell all round the world .
Carolyn Glynos was interviewed recently and absolutely raved about the company, stating after a very difficult year , they are slated to have the best year in a decade this year.New footwear and childrenswear ranges are due to be released next year , licensing with DFS who have had the best year ever .
Hopefully we might get a snippet in the Sunday papers with a heads up on other interest, this could set the scene for a bidding war next week , I would imagine it is beneficial to both sides to get this wrapped up before the results update on the 12th.£30 million is considerably cheap for such an international brand .
Agreed Warren B
It's clearly a viable approach, otherwise, we wouldn't have seen an RNS.
I'll be adding to my holding on any reasonable weakness in the price. Regardless of the bid situation, the Brand is ridicuously undervalued - hence so much interest from Trade buyers.
GLA
The announcement yesterday without the consortium’s permission was designed with one thing in mind , to flush out other bids . However I am convinced they are serious and probably connected to Mike Ashley in some way . This is only the beginning, if Marks wasn’t looking to sell he would of just ignored it and made some sort of announcement at the results on the 12th. Yes there was share price movement but not excessive.
She has been quoted as saying they are slated to have the best year in a decade and mentions that next year , their 50th anniversary , they are very excited about the launch of their new footwear and childrenswear ranges .
This will get rejected I reckon as they’ve several players in the game. Sadly I think this will look like a spike as quick profits but interesting to see some movements at last.
How funny would it be if Ashley buys it back!
You can just imagine him doing something like that - can't be bothered one day, and has it back the next!
Also, what is Marks magic number?
Meanwhile, on planet Earth, I suspect they'll be some decent press coverage on its way, which should keep the punters interested.
Agree, its more to do with getting people talking and at the table rather than an actual serious offer.
Also he has 25% so its standard to try and make some sort of offer, I'm guessing they get the first refusal or so. From his point of view its worth a shot based on his affordability I'm guessing even if its something completely ridiculous, its a win win situation for him anyway.
Yes finally some volume and activity, lets keep it up...
I actually set my sell limit to approx. 100p which is more of a true reflection of the potential value of this company, anything less is a bargain in my opinion.
GLA
Finally a bit of action!
So Apinder, Amarjit, and KJR Brothers Ltd (which appears to be a recently incorporated vehicle) are kicking the bidding off at 30p.
It will be interesting to see if this brings the other potential bidders to the table to talk hard cash.
30p and a decent 25% holding already in the company is a strong hand.
However, it's seriously undervaluing the company at circa £29m.
I'll be staying put until this plays out.
Check the RNS
To me it looks like people are waking up to the potential of FCCN.
Lets keep it up...
Does anyone know why SP jumped so much today? is it FOMO or does market know something that PI don't?
Whats happening with the take-over/Formal sale process. Taking very long not sure why?
There is a strong herd mentality at the moment , everyone is chasing the COVID companies, it reminds me of the dot com boom and bust they are almost fanatical that the share will come back and they continue to pour more money into them . Take Genedrive and Novacyt , Genedrive have just done a fundraising with a staggering 40% discount and yet people continue to buy more shares . Mind you I have been there , poured thousands in Psion and Marconi and ended up loosing £80k , it was a good lesson .
All to play for here.
I'm stunned that FCCN hasn't really joined the recovery rally as of yet.
Cheap!
Stunning results from DFS this morning , bodes well for our license revenue which is pure profit , torn between a quick profit from a takeover or let’s build this company back up . In the long run we will probably make more money due to the great potential of this company .
Should see a decent jump this morning.
Another positive day , if we break 25p tomorrow hopefully be a nice move to 30p .
Only 12 more shopping days till the results.
Another good day up again , building nicely!!
Another fashion partnership , this time Next and the Gap .
Another good day 4% up , not long now till the 12th October, look at Superdry today , cracking rise.
I don’t think anyone will get a chance to buy these shares at 21p.
It’s going to be a very very merry Christmas!!!!
Corporation tax is going up considerably over the next 5 years , these guys have the ability of earning £21 million without paying a penny in tax , that’s more than the entire valuation of the company.
Tomorrow I am going all in and selling my other biggest holding Carclo and putting it into FC.
It’s either going to be a happy retirement in the south of France or living my final years on a till at Tescos .
To be fair considering the company was in a formal sales process recently and after nearly 2 years and considerable cost it came to nothing, if that was to happen again I don’t think anyone would ever take Marks seriously again or risk wasting money . I think last time you probably had a number of chancers like Ashley trying to buy it on the cheap , Marks probably made it quite clear unless it’s a decent offer don’t waste your time as he has the deciding vote . At 74 and nearly 50 years in the business I would imagine he knows if the offers are decent it’s probably the last chance to sell the business. Last time he turned down 40 plus pence so we should see a price north of 50p .
I am amazed this hasn’t caught the attention of the small investors as any amount of decent buying will cause the share price to rocket .
News will leak before the 12th October and the price will rocket , any purchaser won’t rise waiting for the trading update in case the price shoots higher than what they are hoping to pay .
I did contact the company and question the lack of news flow and was told it would be inappropriate while they are in a formal sale process.
While there is no guarantee of a sale I am not sure they would have gone this far if there was no decent interest plus for the overriding issue is Marks , he must realise he needs a succession plan !!!
I tend to agree with you.
Marks is a Wily old Fox, and will not take any of the approaches lightly.
Undoubtedly, recovery in the business will be well underway, which will make any cheap/ opportunist bid unlikely.
The Brand is excellent and is far-reaching to many products - it's a true lifestyle brand.
Any offer will need to reflect this.
It's been incredibly frustrating with the lack of news flow, but I do believe that a positive outcome will happen shortly.
Cheap as chips!
Just reading up on the previous results and noticed they have cut the wage bill by £4 million, which is pure profit. While this pandemic has been dreadful for everyone, business’s have had to be quite ruthless and cut costs .
The effects on the bottom line can be immediate.
This company could have a valuation in excess of £100 million!!!!!
Now we are starting to see some action on the share price, the sellers are gone and any serious buying will lead to a big jump in the price.
This is the last time you will see 21p .
When the results land they will look stunning.
They have knocked £4 million off the wage bill.