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Where have you been by the way.... I have missed you lol!
so about time looks like koovs are still in it , looks like the 2 will merg one day
The stand out bits for me in that rns are as follows
Brand Factory is a household name in India, generating revenue of c.£188.5m in the last three quarters, so their decision to work with us to provide the new online platform, is a huge validation of the capability and scalability of our technology
Upon delivery of the platform, the Company will issue FLFL a non-exclusive, non-transferable, and non-assignable license to FLFL. FLFL will not acquire any other rights or interest in the platform, the technology or intellectual property
Both the one-off payment and the maintenance fee are expected to be profitable for the Company.
for KOOVS so it takes a while and the Indian government want to ensure that all tax issues are dealt with before the deal can go ahead
Hh, my reading of that bit is not that there is an issue, its more saying forget the bollox as the funding will happen regardless?
Like they have already said, if there was any sniff of an issue they would legally have to update the market immediately
My Cut and paste went a bit wrong!
They slipped this in for good measure...
Separately, we anticipate the balance of the additional funding of £9.5m to £10.5m to be subscribed by FLFL into the Company (as announced in September 2018) to close shortly, subject to necessary regulatory approvals or via an alternative structure, as may be permitted under the Indian Laws. We will announce further details in due course.
great endorsement and faith in koovs,balance sheet stronger,positive RNS
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Regulatory News for Koovs Plc (KOOV)
Live PriceLast checked at 07/03/2019 07:03:54
Share Price: 7.35 Bid: 0.00 Ask: 0.00 Change: 0.00 (0.00%)
Spread: 0.00 Spread as %: 0.00% Open: 7.35 High: 0.00 Low: 0.00 Yesterday’s Close: 7.35
Koovs Signs $1.4m Technical Services Contract with Future Group
Koovs plc (AIM: KOOV), the fashion-forward business focused on the young Indian e-commerce market, is pleased to announce that its subsidiary Koovs Marketing Consulting Private Limited has signed an agreement with Future Lifestyle Fashions Limited ("FLFL"), part of Future Group, to develop, host and maintain an online platform for FLFL's Brand Factory retail format (the "Technical Services Contract").
Under the terms of the Technical Services Contract, Koovs will receive a one-off payment of $1.4m for the development of the Brand Factory online platform and an ongoing maintenance fee for a term of 24 months. The value of the maintenance fee will be equal to the cost incurred by Koovs in providing the maintenance of the Brand Factory online platform plus a management fee. Both the one-off payment and the maintenance fee are expected to be profitable for the Company.
Upon delivery of the platform, the Company will issue FLFL a non-exclusive, non-transferable, and non-assignable license to FLFL. FLFL will not acquire any other rights or interest in the platform, the technology or intellectual property.
Mary Turner, CEO
Thu, 7th Mar 2019 07:00
RNS Number : 0734S
Koovs PLC
07 March 2019
Koovs plc
(the "Company")
Koovs Signs $1.4m Technical Services Contract with Future Group
Technical Services Agreement
Koovs plc (AIM: KOOV), the fashion-forward business focused on the young Indian e-commerce market, is pleased to announce that its subsidiary Koovs Marketing Consulting Private Limited has signed an agreement with Future Lifestyle Fashions Limited ("FLFL"), part of Future Group, to develop, host and maintain an online platform for FLFL's Brand Factory retail format (the "Technical Services Contract").
Under the terms of the Technical Services Contract, Koovs will receive a one-off payment of $1.4m for the development of the Brand Factory online platform and an ongoing maintenance fee for a term of 24 months. The value of the maintenance fee will be equal to the cost incurred by Koovs in providing the maintenance of the Brand Factory online platform plus a management fee. Both the one-off payment and the maintenance fee are expected to be profitable for the Company.
Upon delivery of the platform, the Company will issue FLFL a non-exclusive, non-transferable, and non-assignable license to FLFL. FLFL will not acquire any other rights or interest in the platform, the technology or intellectual property.
Mary Turner, CEO of Koovs said: "We believe that Koovs' technology platform is both market-leading and a proven success in India's rapidly expanding ecommerce market. This contract underlines the significant additional potential for growth that can be achieved by licencing our technology to third parties. Brand Factory is a household name in India, generating revenue of c.£188.5m in the last three quarters, so their decision to work with us to provide the new online platform, is a huge validation of the capability and scalability of our technology."
Related party transaction
For the purposes of the AIM Rules for Companies ("AIM Rules"), FLFL is a substantial shareholder in the Company and therefore a related party. As such, the entering of the Technical Services Contract constitutes a related party transaction.
The directors of the Company, having consulted with Peel Hunt LLP in its capacity as the Company's nominated advisor for the purposes of the AIM Rules, consider the terms of the Technical Services Contract to be fair and reasonable insofar as shareholders are concerned.
Funding of the Company by FLFL
Separately, we anticipate the balance of the additional funding of £9.5m to £10.5m to be subscribed by FLFL into the Company (as announced in September 2018) to close shortly, subject to necessary regulatory approvals or via an alternative structure, as may be permitted under the Indian Laws. We will announce further details in due course.
First revenue out of FLF and a great bit of validation! The start of a re-rate I think is coming....
Re: jambon’s post - yep I agree with you. Looking forward to the re-rate
I just did a dummy quote to buy £30k and they want 8p
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
I think trebuchet kid has an evil twin....
Matt i have said this time and time again, the deal is signed and that means the price and amount is agreed, if it was outside the figures stated in the previous rns then koovs would legally have to have told the market immediately.....
I also said the register is updated quarterly.....
It pathetic the amount of bashing that goes on here...
However, please take some comfort that if we believed there to be an issue we would have released an RNS to that effect.
Regarding Ruffer, the Capita website is updated quarterly, so the info on the corporate website is correct to 7th Feb 2019.
Trebuchet kid (not me)
From Trebuchet kid -
Completion of the equity raise only occurs once the shares have been admitted to AIM. The shares for the recent equity raise were admitted on the 27th September 2018, as announced on the 24th September 2018. This gives FLFL until the 27th March 2019 to complete the second investment.
Now - can we all relax? By the end of March this Byriani (sic) chap will own between 28.89 and 29.99% of the company enlarged share capital - depending on whether he takes 63,300,000 or up to 69,850,000 shares. And one of his daughters is now on the board.
The funding is all coming together......
Matt
Putney, I thought we had pretty much established and accepted that the large seller is Ruffer, who as far as we know still has a few to sell, but can't be many more now.
And for anyone who wasn't aware, Ruffer are apparently pulling out of other AIM investments and not just KOOVS
I have just tried a couple of dummy sells and am getting quoted 7.155p a share for 244,000 of them. On numerous occasions I have tried and never been offered on that volume. Not interested in selling as we only have a few weeks to go.
I’m hopeful this current price will prove to be the bottom and a springboard upwards.
GLAH
OOV
Koovs news release history
Mon 18:17
2014
March
July
Nov
2015
April
Sept
Dec
2016
Jan
Apr
July
Sept
Dec
2017
Jan
Apr
Sept
Dec
2018
Mar
Sept
Dec
2019
Yet to be confirmed
You can clearly see that the dates change year on year and january has not always had and trading update....
Have a look at their history..... Maybe you expect to much??
Not long about you said this would be 100p by april, nothing has changed since you said that? No negative news or anything?
You were giving technical advice out when this was 17p saying it would never get to 13p? I think you need to adjust your expectations
Jambon- unless you are living in a parallel universe- can you please tell me hand on heart that you are happy with what is going on here?
Someone sold 160,000 shares earlier at well below the Bid.
We are all on the same side, trying to figure out what exactly is going on here.
Are you content that there has been absolutely no news from Koovs on any front for nearly 3 months now?
As a large shareholder- I am not happy!
I found this post below by someone at the time.....
Finally received some answers!!
HT Media disposed of 10%- but did NOT CROSS any
threshold- so no need for notification.
They have moved from 6.84% to 6.16% ofthe total
amount ofshares (175.3 million).
"Piyush Gupta, chief financial ofhcer at HT Media,
said that the company "exited 10% of our holding in
Ehe market last month and (is) not intending to exit
anymore at all".
http://techcircle.vccircle.com/2016/12/23/exclu sive-
ht-media-sel ls-small-stake-in-f ashion-e-com merce-
renture-koovs/
Absolutely nothing to worry about- onwards &
upwards!!!
But they never crossed a threshold did they??
So instead of criticising, belittling & re-posting old posts, why not do some research?
Shareholders have a right to post criticism of the management, considering the mess they have got the company in.
The shareprice from 70p to 7p tells the story.
So please excuse us for not having much faith in the current management.