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Before you came on the scene, ruining this thread, a lot of good research was done.
Yes, it was me who discovered that HT Media had sold 10% of their stock from a recent placing. This was not announced by Koovs at the time.
So, yes, it was shareholders that notified the market.
https://www.techcircle.in/2016/12/23/exclusive-ht-media-sells-small-stake-in-fashion-e-commerce-venture-koovs
https://techstory.in/ht-sells-equity-shares-koovs-2312/
HT Media has sold its equity shares invested in Koovs Plc, which owns and operates fashion e-commerce website Koovs.com.
Piyush Gupta, Chief Financial Officer at HT Media told Techcircle, that the company “exited 10% of our holding in the market last month and (is) not intending to exit anymore at all”.
Im sure you said recently that ht media crossed a threshold and never told the market
Do you think it is a similar situation to when the maket had to notify koovs that ht media had sold? I remember you saying that you had to notify management
It doesn't help when shareholders have to find out everything for themselves because Koovs have shut up shop. They have not released an rns for nearly 3 months now.
Forget a trading update, that will not happen until April at the earliest. But why are they not letting us know anything that is going on ie the tie up with Future Group.
Surely something has happened in the last 3 months!!!!
Shareholders deserve better.
It is a big deal because it is weighing on the share price. It is holding buyers back. Why would anybody buy shares now when Ruffer are still possibly dumping on the market?
Once Koovs have confirmed that Ruffer have exited, Buyers could flood in.
Amazon plans to launch a new Middle East marketplace, two years after buying Souq for $580 million
Amazon is launching a new marketplace targeting Middle Eastern countries Saudi Arabia and the UAE.
The company is telling sellers to focus on Amazon's main site instead of Souq.com, the Dubai-based online retailer it bought for $580 million in 2017
https://www.cnbc.com/2019/01/29/amazon-new-middle-east-marketplace-rivals-souq.html
It looks like Souq.com will be phased out which will cause a massive dilemma for Koovs. Chairman Lord Alli stated this only last year
"I love Amazon. I think Jeff Bezos is an extraordinary man. However, people don’t want to wear a dress that comes from someone who also sells garden equipment and toilet paper."
http://www.businessworld.in/article/-If-I-Had-Amazon-s-Resources-I-Would-Be-100-Times-Bigger-/07-11-2017-130780/
We have had no guidance on how the international expansion in the Middle East & UK (SimplyBe) has been going after the launch by the CEO Mary Turner).
They should concentrate on India before trying to crack international markets.
Does anybody know how Koovs have done Internationally?
I can honestly say i hope ruffer have sold and we find out soon.... Sick to death of hewring about it like its a big thing.... Its nothing as they only hold a few more than me.
Again from Trebuchet Kid on Twitter
Possible news flow
March
FLFL £10m cash injection at 15p
Update on FLFL strategy (store openings)
New Board member
Ruffer LLP exited
Amazon FLFL deal finalised
April
Trading update 2018/19
From Trebuchet Kid on Twitter who has had correspondence with Ruffer LLP
The 9th Aug TR1 was 8% to under 5%. The shares remained the same at 15,625,000. Percentage change due to dilution. I have been notified by Ruffer that they do NOT have to notify any further drop.
From Ruffer LLP
"Discretionary Investment managers (such as Ruffer LLP) are not required to report on holdings once they have fallen below the threshold of 5%. This exemption also applies to UCITS schemes, Authorised Unit Trusts, Authorised Contractual schemes and ‘recognised schemes’."
Trebuchet Kid :Koovs last checked the register (Capita) on Feb 18th which showed 5.55 Million shares. My personal opinion is that they have dumped a lot more since. Until Koovs check the register again, there is no way of knowing, until Koov notify us that Ruffer LLP have totally dumped.
do we know whether ruffer has been selling and if so, how come we didnt get any RNS on their holdings?
Heres whats going to happen -
March - we get confirmation of Biyani buying his shares
March/April - we get news which warrants a rerate to minimum of 15p
Dec - koovs closes 2019 with a minimum share price of 30p....quite possibly higher
...unless the well-informed Jambon knows something we don’t...
Come on, you’ve got this far - only a few weeks until news surely?
Ask paul scott about when he sold asos at 16p because he didnt have enough patience... Not having patience can be just as reckless... He made 20k instead of 23 million lol!
At what point does patience become recklessness?
Sod it im selling out... I have had enough....
Good luck for the future all.
What is Koovs omni channel strategy?
Fila expects 50 percent growth with omni channel strategy - Fila
Italian sports and fashion brand Fila is expecting 50 percent growth in the Indian market as it expects strong sales this year from e-commerce and as well as its offline stores.
The brand will be expanding aggressively this year across the country with a focus on metros, mini metros and tier 2 towns. It has planned 100 exclusive retail stores in India over the next five years. Currently, the brand has 1,500 points of sale and is expected to touch 1,800 by July this year.
The company has already added five exclusive Fila company-owned stores in the cities of Mumbai, Hyderabad, and Pune over the last four months.
“As of right now, we have 1,500 points of sale and we expect this number to grow to about 1800 over the next four months. This is largely across metros, mini metros and Tier 2 towns. We will continue to launch one exclusive store each month going forward. We will then eventually step it up to two stores a month till we reach the 100 store mark,” Anupam Sehgal, head of marketing at Fila India, told Exchange4Media.com.
“One of the things we have observed over the past four months is that wherever we have expanded our retail footprint, we see a spike in e-commerce sales. Overall, as a business, we are confident that we will grow more than 50% this year, and that goes for both e-commerce and offline sales really. In the future, both online and offline will hold equal importance for our business, they feed into each other,” Sehgal added.
Fila India is a licensee held by Cravatex Brands Limited which is a part of the Batra Group.
Pascha/Olliebee,
Thanks for sharing your views so succinctly - a pleasure to read and as a holder I’m happy to read both the bull and bear case scenario as it were. Just a great read.
Cheers to you both
The subscription agreement is signed....
A subscription agreement is an agreement for the company to sell a set amount of shares at an agreed price...
If the agreement was outside of the tolerance they previously stated then koovs would legally have to update the market immediately.....
Flf ARE PAYING 15P AND THATS THAT
Regards this forced flf take over that is constantly mentioned..... Flf do not own enough shares for a start.... The only chance they had of a cheap buy out was lst year when the price was 5p but there is a reason that never happend.....
"subject to certain conditions" - did raise alarm bells for me, but then it was also stated on the previous round. Again, and deal I do is subject to certain conditions, they need to protect themselves.
I am well aware of confirmation bias, hence why I'm engaging with you to challenge my own opinion to make the best possible decision with what we know. Koovs isn't an easy sell, it's obviously risky, however, I think it's a risk worth taking and my other holdings have beaten the market, so I'm happy to take on some risk with Koovs.
Koovs is definitely not the best chance of making money, but I'm happy with the risk/reward ratio on it and I don't have time to be researching other companies at the moment - so I'm happy to hold.
"Even if KB does proceed, well it’s then a clear signal that he will take it over, again in which case he will want the best price for it, again in which case he’s hardly going to bust a nut to get it going and raise the share price.."
then why didn't he just do this last year when it was 5p? I agree, he's a savvy businessman, he held all the cards, and yet they didn't do it then. That's the gap in your plausible theory.
Also, as I work it out, he paid 6Mish for 16% - he's going to pay 10M for another 13% to take his share to 29.9%. That's not 5% for 10m, as you stated.
Also, using napkin maths, FLF put a 37m post-investment valuation on Koovs last year and a 73m post-investment valuation on Koovs for their second tranche. Now it could be that 'subject to their conditions' they decide it's not worth that at this moment in time. However, we all know that Koovs need the money, FLF included, and Koovs is FLF's route to online, so it may mean that they want a larger % which would mean a buyout offer.
Also, Koovs aren't the only ones who faced losses trying to sell clothes online. All retailers suffered due to demonetization. FLF understand this more than us, it's easy for us to look at a balance sheet and see huge losses, but all Indians lived the reality and understand the market conditions of that time.
If it was just about Biyani wanting to give Avni a toy, then they could spin up an app and advertise it in a couple of months, and on top of the management expertise that Koovs bring (...at least they'll be learning from their mistakes...) - it would take valuable time for Avni or whoever she brings in to run it, and they're just as likely to make their own mistakes, and would take away from her managing her food ventures.
Also, re: FLF having to do any heavy lifting. That's not true. All they're doing is signing a cheque and we're doing the heavy lifting to take FLF's brands online. FLF are well aware they have no expertise in this area and that's precisely why they have invested in Koovs.
Why would Keesh pay £10,000,000 for 5% more of Koov - it does seem awfully expensive.
Pascha - please show your workings of how you got 5%. What % of Koovs do FLF currently own? What % of Koovs will they own after their next subscription?
Thanks,
Ollie
Pascha was correct about Ruffer, but if someone says the sky is green, and Pascha says the sky is blue, it doesn't make him an oracle. The HT Media thing was quite obvious that we'd be paying them in addition to granting them shares. They are a business with running costs to pay, and they can't pay them in shares. As I'm sure the people on this board know (as you all seem to be business gurus - cash flow is important).
RE: Rob not buying any shares - He has over 6 million share options. He doesn't need to buy any more. It's a completely unnecessary risk to buy more shares in the company who employs you (especially when you already have options) - the risk-reward balance does not add up. He's already going to be set for life if Koov succeeds. Go and ask your IFA about buying shares in your company, and they'll advise against it and tell you to diversify.
Koovs, as we know, is still at risk - even if the risk is small. If this was already priced at £7 per share the opportunity would not be so great.
As I've asked before if FLF weren't planning on buying Koovs, why didn't they just buy it out last year when it was at 5p and seriously on its knees? There was no need to "play it out" - it was already played out.
Now we have plenty of cash in the bank, there is no sense of urgency, the sky is not falling (though it still could in the future).
All I'm seeing from HT Media and Rob is careful risk/reward management, which we should all be doing. Koovs isn't a sure thing, nor is it sure to fail. Personally, I give them a lot more than a 60% chance, or I'd have sold out by now.
Pascha- I don't know who & where you get your information from, but you were spot on With Ruffer exiting AIM & subsequently Koovs. You were also right about the HT Media deal re Koovs giving them cash & not vice versa as stated by Jambon.
Are you seriously stating that the £10 million cash injection will not happen? I find that very worrying as that would cripple the share price.
Can you give us any more information- thanks!
Pascha- I agree the reporting for bullying has got absolutely ridiculous & rather embarrassing.
I really do hope that statement from the CFO is not a fob off as you state. He would be in big trouble with the FCA if that was true.
I take what he says with a pinch of salt anyway, as he's on £175k a year & hasn't had the decency to buy a single share on the open market.
Check out the non exec directors on £50k a year- what do they actually bring to the table?
And let us not forget Emily Sheffield (David Cameron's sister in law) on £75k a year (inc a £25k consultancy fee). What has she actually done?
The sooner Future Group come in & get rid of these overpaid failures- the better!
Before I get reported for calling the BOD failures- just look at the share price over the last couple of years, 70p to 7p
Is it me or does the little girl annoy everyone?