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Let's not beat about the bush here. Mr Tom Joule could have stepped in with a £5 million cornerstone investment to save his own company (perhaps only in the short term). He didn't - in fact he was conspicuous by his silence throughout.
Maybe he is looking to be clever in trying to buy it out of admin, in which case Wolfson and or Ashley will have him for breakfast.
Sad day for Joules employees and a bad day for small shareholders. That's a good few grand I won't be seeing back in a hurry.
I had suspicions that Tom Joules wanted the share price as low as possible before he’d show his hand. If so, the chances of that happening were thwarted by a Doncaster businessman buying £1m of shares, followed by publicity which encouraged many opportunistic traders to buy shares up on the cheap thinking wealthy investors would be there to provide financial backing, pushing the share price up 300% from its recent all time low. But if you were Tom Joules, how would you feel if your 20%+ stake in the 30 year old family business had depreciated by over £50m and then, before you’re allowed to be the hero, a car dealer you’ve never met comes along and buys an equivalent quantity of your shares for a tiny fraction? Would it reduce or increase your incentive to inject cash from your personal fortune to prop up the business?
I like to think Tom Joules had a private chat with Mr Teatum last week and warned him to get out, but I doubt it.
Yes , as someone who has lost plenty.
imho We have been fed a bit of jackanory the last few weeks . TJ defo to blame
Monty888
If anyone listened to King Joules and invested because of him then not only do they need removing from being able to buy shares but also sectioned!
He actually made me smile as he was so full of garbage but seemed harmless emough!!
His list of stocks he has commented on in the past month reads as;
Made.com- in administration
Joules - in administration
DkE - suspended as couldn't complete audit in 6 momhts (this a 800k business)
I think it's clear he wasn't Buffet and is noticeable by his absence haha
Saab93se - indeed, now you put it like that...not much consolation though!
Also very strange goings on all told, as share is suspended are they still obligated to issue a TR1 - (potentially with Teatum's holding exponentially reduced over the last few days) or has he taken a significant haircut.
At last some sense here. Don't like to give it the 'told you so'... but this was on a one way track. I kept asking where is the good news for ages.
Will post more detail later tonight or tomorrow. I know a fair few Joules employees so happy to share the inside track. OI bet others will too. The rumour in the company for ages has been TJ has wanted to buy 'his' company out of administration. I for one hope that is not allowed to happen.
If you want a microcosm of the problem - take last Thursday. Joules went with their Black Friday event early and their website crashed (again)! And their new CEO is supposed to be an IT guru. It is laughable. Tom has steered this company into administration with a series of awful decisions. He bought Garden Trading form his mate! Where is the boy wonder from the 2016 flotation now? And they spent a fortune on a massive knees up for store managers at head office a few months ago. No expense spared. The bill for that must have been huge. Sadly all those staff will now be looking for a new job. And that's not the half of it, trust me.
Hope this gets a very thorough investigation . Well dodgy imho
Ready for Mike Ashley to step in
Tom will want to buy it back but we know there will be competition from next, Ashley and possibly m and s.
Some massive mistakes have been made here, if there not mistakes then it’s akin to fraud.