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There is now a 94,423 trade listed at 3.00 on 11 December?
11-Dec-19 16:00:52 3.00 94,423 Unknown* 0.00 0.00 2,833
Typo sorry...They just don't care or believe they could face investigation...they come from a breed of 'untouchables' and their thinking will never change, even under intense scrutiny.
Trouble is, is that his Lordshi/t like all people in business with titles and honours really DO believe the LAWS and rule-book is there for their pleasure. They also mix with people of the same ilk and gain and develope a superior attitude to others of lesser standing. Rather than sit and ponder the possible recriminations of their actions...like the Lords and General Haigs of war, they thought nothing of sending 50,000 troops to certain death. So we can expect the same attitude even more so from a guttersnipe born into fortune in an impoverished country. They just don't care or believe they could face invedtigation...the come from a breed of 'untouchables' and their thinking will never change, even under intense scrutiny. Marie Antoinette before she was guillotined when asked about the dire poverty of her starving subjects said "Let them eat cake"
Never even heard of prepack administration before but i now see debenhams did it back in April. This also from the Evening Standards Laura Onita...
Debenhams shareholders’ have been wiped out in the process, including Mike Ashley’s Sports Direct, its largest shareholder with a 29.9% stake. Ashley has spent around £150 million building his holding in the retailer since 2014.
If they can use it to rob someone like Mike Ashley, then it wont be easy for us to fight it but maybe Alli in his haste to get it done just before the election in the hope it will go unnoticed by the media, might have made mistakes that we can capitalise on.
Dr777 not yet but i intend to as soon as poss. Been very busy today.
Decided to try to understand the pre pack administration thing and was looking here...
https://www.realbusinessrescue.co.uk/pre-pack-administration/process-and-procedure
But to be honest that sort of thing is above my head, im just an ordinary joe who doesnt understand technicalities very well but hope and am confident that others here are more than capable of understanding it all and explaining it to us simpletons (maybe just me) in more basic terms.
PutneyLad - I have only lost about £1000.00 it may be very small compared to yours and others here. I feel anger and frustration. The company was taken into administration and bought out cheap when the sales are going up and Amazon is involved.
I think it may be worth writing to them too. I dont a lot about this share and its history.
what are the chances of seeing any of our money again? :(
Hello Loc, hope you are well.
PTHC, Martin Lewis has already told me he only deals in retail matters, not corporate law.
As I have said, many shareholders, some very large are now working on this. Various AIM rues have been broken.
This character acted as creditor (in his own interests) & Chairman (shareholders interests) at the same time!
He has totally shafted shareholders, taking their money for 6 years, always promising shareholder value, paying analysts to pump up the story, then at the last hurdle, right at the finishing line, when they started to do improve all their metrics, stitched us all up.
We stuck at it through thick & thin, through demonetisation & dilution & this is how this charlatan rewards us!
Shareholders like me will never let this go
Large shareholders have been in contact with MIU for several months. They have been reviewing activities here for quite some time. All concerns to Lord ALLI at Silvergate Media, Robert Pursell, Mary Turner & the NOMAD Strand Hanson were cc'd to MIU.
Trust me, Koovs weren't happy we were doing this. It was protection in case something like this happened.
Many shareholders are working together on this & it will take some time, but we are collating all the evidence we can.
If anybody has anything relevant to this disgraceful act, please contact me
https://twitter.com/Trebuchet_Kid/status/1205030120009994240
Alli has effectively stolen this company & justice will be done
It then goes on to say that it takes the complaint seriously but may not tell me of the outcome but may ask for further details in the future etc
Thank you for your email of 10 December 2019 regarding Koovs Plc. We have noted your concerns around the company’s conduct.
This matter has been passed to the Market Integrity Unit in the Market Oversight Directorate (MO) of the FCA. MO is responsible among other things for monitoring issuers’ compliance with Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on Market Abuse (the Market Abuse Regulation or MAR). Please note that the FCA is not the enforcer of Company law nor of the AIM Rules of the London Stock Exchange.
We are reviewing this matter with a view to determining whether it is appropriate for us to exercise any of our statutory powers. As part of such reviews we may use the information gathering powers available to us to seek further information from the subjects of the enquiry and reach out to other agencies as appropriate.
Once we have completed our review, we will consider whether it is appropriate for the FCA to launch a formal investigation via its Enforcement Division, whether some other form of intervention is required or whether the case should be closed with no action. In particular, an important part of our consideration is the potential seriousness of the misconduct.
I also think that the Administrators acted illegally by doing Ali's bidding on this and we all need to let them know our beliefs, Also if we all bombard Peirs Morgan and Martin Lewis with tweets about how we shareholders have been robbed , They both like to support a story like this.
Various automated replies are now coming in from my original emails to investigate this further, from various authorities. Not sure it will do anything but we can hope.
Here is silvergate media num 02071510081
We need to make sure he can’t get away with this guys, you won’t get through to Ali the robber but his pa will hopefully pass all messages on to the ******++
Hargreaves landsdown will be made up of individual shareholders
Equities %
Future Lifestyle Fashions Limited 57,876,600 14.4%
HT Media Limited 52,440,000 13.0%
Waheed Alli 43,699,218 10.9%
Dragon Asia Holdings Pvt Ltd. 28,500,000 7.09%
Bank Julius Bär & Co. AG 27,380,000 6.81%
Michinoko Ltd. 19,617,805 4.88%
Hargreaves Lansdown Stockbrokers Ltd. 16,232,000 4.04%
Ruffer LLP 15,625,000 3.89%
Anant Nahata 12,109,688 3.01%
BNP Paribas Asset Management Singapore Ltd. 10,400,000 2.59%
i don't believe Ali has acted alone in this as Biyani the major shareholder i'm sure would have something to say about it, he's not going to let Ali just take his money unless there is a way he will get it back in the future,
Also can't believe his Daughter wouldn't have known what's going on ,
I think this was planned by them both to get rid of the shareholders.
As shareholders we owned the company not Ali and as the third largest holder he did not
have the right to act as he did without the majority of shareholders permission,
Should've known all along it'd be impossible to make any decent money from a labour peer!
Bloodshot: Have you contacted the journalist for her to put that question to him?
@Trebuchet Kid - Tweet - spread the word:
'@UKLabour peer Baroness @gailrebuck is a Koovs Director whose Chairman Lord Waheed Alli has taken the company into administration & bought it back on the same day, losing shareholders tens millions £Worth distancing from this scam'
The stand out quote is right at the end...
“If you take investors’ money, you have an obligation to deliver returns on them. We’re going to win the race that we’re in, our brand is going to win in India,” says Alli, confident Koovs will be in the black by 2022-23.
So what happened in a few short months for him to go from supremely confident, to this farce.
Wheres our returns?
Continues...
“I saw a gap in the Indian market,” the 54-year-old says, resting in an armchair at his offices near Covent Garden.
Twenty Koovs staff, mostly designers, mingle there with Silvergate Media, his most recent TV production company. The rest of Koovs’ 250 staff are based in Delhi and Mumbai.
Alli is banking on India’s young, digitally-savvy shoppers — 65% of the population is under 35 — who have more money to spend and are increasingly likely to order fashionable clothes online or on their smartphones.
But he has the hard task of convincing investors that his gamble on an emerging market will pay off.
Although analysts at Hardman & Co are bullish about its chances, risks such as a slower uptake of e-commerce or new entrants could hold the retailer back. It will probably have to raise more cash too. “If you take investors’ money, you have an obligation to deliver returns on them. We’re going to win the race that we’re in, our brand is going to win in India,” says Alli, confident Koovs will be in the black by 2022-23.
Meet Waheed Alli: The Labour peer suffering birth pangs of India’s answer to Asos
LAURA ONITA
Friday 5 July 2019 11:10
Click to follow
The Evening Standard
Media mogul Waheed Alli founded fashion website Koovs in 2012 ( )
Nearly three years ago media mogul Waheed Alli was on the brink of losing the millions he had put into his most recent venture, Koovs, the London-listed wannabe Asos of India.
In November 2016, India’s prime minister Narendra Modi, with only four hours’ notice, took high-denomination banknotes out of circulation. The move was meant to drive money out of the shadows but, in the short term at least, it knocked the stuffing out of the economy and punctured the hyper-growth of online businesses like Koovs.
Alli, or Baron Alli of Norbury in the London borough of Croydon, to give him his full title, says: “It really hurt. A lot of people operating in our sector disappeared. We survived because of great management, because we knew what we were doing.”
The Labour peer’s know-how came from 12 years as the chairman of Asos, helping it grow from a fledgling start-up, with flat growth and losses, into the fearsome adversary it would become for the High Street, eventually stepping down in 2012.
He left “because I could tell Nick Robertson [Asos’s boss and co-founder] wanted to leave”. “If you’re the chair of a public company and the chief executive wants to leave, generally what happens, you have to find a new chief executive.
“Everybody blames you if it doesn’t work, and then whoever it is will likely want to get rid of you. Well, ‘that’s a fun three years’, I thought, and I didn’t want to do that. I said to Nick, ‘if you’re going to go, I’m going to go before you.’”
So that was that. Alli used some of the cash from his £30 million stake in Asos to build a replica of the online retailer but in India. Enter Koovs, which has finally started showing recovery signs after the demonetisation blow was followed by a tax hit from Modi’s government.
Koovs’ revenues fell 40% from £3.9 million to £2.1 million for the first half to September 30, but it narrowed its pre-tax losses by 10% to £6.4 million from £7.8 million.
Its trendy clothes, aimed at India’s emerging middle-class youth, have been selling better since, Koovs told the City in May.
It also recently raised £10.4 million from India’s largest retailer Future Group to start spending on marketing again after it had to tighten its belt in 2017.
Good news has been in short supply for a share that listed at 200p and now stands at a meagre 7p. It had to go cap in hand to investors asking for £35 million over a three-year period in 2015, just a year after Alli, who is chairman, listed the company on London’s junior AIM in 2014. He has ploughed roughly £20 million of his own cash in to date.
Despite the bumpy ride Koovs has all the ingredients Asos had to succeed long term, he thinks. “I saw a gap in the Indian market,” the 54-year-old says, resting in
Dont know if anyone else read his interview with Laura Onita.
Not blaming Laura, she would have been as unaware of what was to come as the rest of us but it gave me the confidence to hold onto my shares in the belief that this was a man who would make a success of Koovs, come what may.
Maybe he will still make a success of it in time but hes left his investors (many of whom, like myself where hoping this would help towards a good pension), with nothing.
I feel particularly sorry for those who have been holding and averaging down for years. Its a massive loss to them.
Lets hope at least something can be salvaged. The only way is to fight this labour member of the house of lords and try to shame him.
Shame on him!
Social media is where it’s at, we need to make sure he doesn’t make another penny from this company!