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.zstarz
Agree but why would 75% of shareholders agree with his ridiculous suggestions.
He should be arrested
@Rock8
The extra financial headroom is a red herring, it’s the waiver and delisting he wants. He’d need 75% of shareholders to vote for it in a special meeting but as you say, he’d have to offer an exit price attractive enough to have the votes as I don’t think he can pull it off otherwise.
Rayte,
Unfortunately in these situations Shareholders (PI'S) are at the back of the queue. The big holders, banks, loan companies are now in control.
Believe me Hilco Loans will be at no risk to them and on there terms.
Also what’s the incentive for shareholders to allow SD to effectively increase his shareholding on the cheap as new funding has been secured anyway?
That’s confusing unless SD didn’t think it would be secured?
Fordy88
Yes you are right but I suspect they could outlay the terms subject to share holders approval?
The delisting is more tricky IMO as they would have to offer an exit price for those shareholders not wishing/unable to delist as otherwise the deal would just be rejected?
Just my thoughts.
Isn't any raise and delisting dependent on a shareholder vote or have I got this wrong? He owns around 26%. HSBC own 17% and I think around 55% is free float. Wouldnt we have to vote on this course of action so nothing could be just sprung on us on Tuesday morning?
As I type I was remembering that
Surely this will be suspended on Tuesday before opening? The placing is coupled with a de-list, and the discount will likely be based around the Friday close price. I bet all these ducks are in a row before opening on Tues.
Although, as I type, CINE traded on as it's eventual destination was being negotiated.
Surprise sky news are slow with the headline? They were quick to announce takeover rumours. But nothing on yesterday's annoucment? Wonder if there employees are also invested lol imho
I thought it was 'no news is good news '?
If the sp falls to say 12p on Tuesday, the mcap at £12m might look attractive to the likes of Mike Ashley who has a stated aim of taking his group up market and he could operate without the expensive loans that are hobbling the company just now.
As an aside, anyone remember the great announcements JD made when he sacked the previous ceo, about the great reset of the brand . Laughable - the previous team must be feeling much better just now given he has really messed up.
I expect a raise on Tuesday open. Price to fall to that level. Then drift as extra stock flood the market.imho whatever happens, it was meant to be. Money is something no-one owns. We use it whilst we're here to spend it and gets passed on from generations to generations while the world continues to spin. Live comfortably and happy. Time is the most valuable thing imho
Agreed, and what I fear for PI's is that they will just dump at open, i am almost certain that by Tuesday i will of set my buy orders and will catch the dip that we can all see coming, but as a PI its now what plans ? to use this to our advantage and not immediately think that dumping is the only option open to us. Always the adage "act in haste, repent at leisure".
Hum is resource, and rns helped the rise. Here, situation is different retail sector has suffered, if sdry couldn't turn it around during the winter, people ain't going to wear hoody in the summer are they? Plus, the equity raise (bad cloud) still hangs over. No one likes to be diluted. The interest on debt is very high. Double digits? Clearly lender charging those rates because of the risk factor of lending? It doesn't loom too promising imho but gla
There will be a stampede to exit on open, that’s inevitable. What happens after that will be interesting. Most similar situations I have seen bounce by a substantial amount from the first hour lows. Just look at HUM for a recent example, similar thing terrible RNS, bounced back 50% from open lows, even if it heads back down after that.
This is a demonstration of what people have always said. 'No news is bad news'. Perfect illustration here imho
I think alot of people jumped in thinking the ceo was serious, he's been talking about taking it private even before the takeover rumour. And with the Extention showed his intent to take this private. Alot of PI would have jumped on board thinking the Extention is hope of a deal being finalised. I don't blame them. In the end, it's a no deal. So from being 80% confidence of this deal happening just gone down to 0%. Market makers sold their stack at 20% profit at the start of this week with the rise we saw and I'm in no doubt MMs will pull this down on Tuesday. Very sad. However one lesson can be learnt is, nothing is for certain imho
People keep talking about takeover. Takeover over was circling the business for 2 months. Yet no one has put offer in. Look at currys and dlg, both had takeover approaches and interested parties backed out. Next didn't seem interest when the price was around 16p pre takeover rumour, they arnt going to be interested at 30p lol let's be honest imho
Pre takeover rumour, the price was around 16p. So in a normal market the price should be around those levels but with further debt at higher rate and summer time starts, can't see sales increasing with warmer weather. The business is in survival mode. So calling 12 to 13p with or without placing imho
I'm calling a placing announcement at 'significant discount' before markets open on Tuesday. I would be daft to let this tank on Tuesday then announce placing to issue more shares and dilute to the oblivion. Its far easier to place around 15p than wait and watch it drop to around 15p then raise at 10p or below. So practical sense to place before Tuesday open whilst price is still around 30p imho