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Shareholders are extremely unlikely to approve what is basically a de facto bid for the company at such a low price.
It's only purpose for being part of the plan, as far as I can see, is to effectively place a floor under the share price, and so make the open offer viable to other shareholders.
There is of course nothing stopping others building a stake in the company while the shares trade at a similar price.
I believe the placing is just there to coerce shareholders into taking up their open offer allocations, a case of "if you don't want to support this company, I WILL take all of it off you by taking 90% via a placing and then, because I then own 90%, I can force you all to sell to me at 5p)."
Shareholders need to fully take up the open offer if they want to avoid JD taking over the company dirt cheap.
Hopefully one of the predators will appear with a better offer in the next couple of weeks and make all the shareholders happy. If not, I'm still happy to keep the stock, as once it's given a proper valuation by an Auditor I will be back in profit again pretty quickly. I'm sure JD will put the stock on a trading platform, just so he can buy more of the stock as he works his way towards 100% before floating it back on the stock market in a couple of years at a huge premium to what he paid.
Yes, I agree. Shareholders will vote for option A and not option B of the equity raise.
Although the real prize for shareholders is perhaps not a bid for the company but a return to health. The latter, if it happens, may take a few years but I'm in no rush to cash in my chips.
All it takes is a whiff of a predator and this will move, not saying it won't be volatile but their should and will be interest. JD wont get all his own way. Vultures will always prey in these types of scenarios.
Poor guy 🤣..he just wants his creation back…
Volatile book and some sold out. She’s ready to fly north again. IMHO.
Holding for the bigger gains.
I truly hope you are right. Whilst business is business JD has been disgusting in his whole approach to this, his RNS a few days ago was designed to crash the share price and get panic selling, Meaning less shareholders to potentially vote against him and more shares for him to acquire at a knock down price to get his own holding up. All wrapped up in his candy floss of protecting Superdry and employees .... an utter snake in the grass
He can have it back, just has to pay!
Already hit 9 today, can see it being broken later.
Still time, I see this settling between 10-15 m mcap for the time being. Probably the latter.
Whoever bought some of these when they dropped to 5p the other day you deserve to make 40percent profit, because you must have bxxxx of steel, GL to you, just wish I had them same bxxxx.
Fair! very similar pattern to yesterday, mm should take it higher the avocado. 10p
Next wave coming
9s lets go!
Looks like 10p on the cards tomorrow ;)
11 for me Kent 10 today
LIFT OFF
MMS will take £40k @ 8.6p
In for a strong finish and super day tomorrow :)
Clear intent to get this back to 10p plus from the MM hit 9p 3 times today
I don't think you get a choice of Option A or Option B......You have to vote "as a package".....and then the Board will decide which Option to take.......or am I wrong?
The Equity Raise will be structured in one of two different ways. Shareholders will be asked to approve both different options and, assuming shareholders do so, Superdry’s independent directors, in consultation with Julian Dunkerton and Peel Hunt (the Company’s financial advisers), will in due course (after shareholders have voted) choose the option to be adopted by Superdry. The two different options are as follows:
Option A: an open offer at £0.01 per share to raise gross proceeds of the sterling equivalent of up to €8 million (the “Open Offer”); or
Option B: a placing at £0.05 per share to raise gross proceeds of £10 million (the “Placing”).
Hmmmm...Maybe I'm wrong....But if the vote is YES to both Options...the Board decide....Am I reading this wrong?
Shareholders will be asked to approve both different options and, assuming shareholders do so, Superdry’s independent directors, in consultation with Julian Dunkerton and Peel Hunt (the Company’s financial advisers), will in due course (after shareholders have voted) choose the option to be adopted by Superdry.
Independent Directors...in conjunction with JD.....What a laugh!!!!!
So it will be Option B....now there's a surprise....