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I genuinely feel sorry for anybody holding shares in Sports Direct. The news about the Belgium tax demand is absolutely devastating for anyone invested in this Company. As a Glasgow Rangers supporter i would never ever spend a penny in any Sports Direct Store and neither would approx 500,000 other Rangers supporters residing in West Central Scotland. The same goes (i suspect) for every Newcastle United supporter.
I think that anyone who thinks that's the share price will fall by 20% on Monday is an optimist. £605 Million is half the value of Sport Direct and significantly more than Annual profits, particularly now given the money being hemorrhaged by HOF.
For your shares ;)
He will be pumping 30 million in on monday. 20% drop i reckon....
Absolute carnage indeed. I think I used words along the lines of the strongest of strong sells earlier. I hope people heeded that warning.
Meanwhile, for those canny Foxy's who opened shorts at lunchtime, a very quick and very lucrative bonanza is in store on Monday.
As a footnote, I read Coltrane are building a stake in SPD. The same Coltrane who flushed millions down the toilet with IRV.
Still a strong sell, but I fear the damage is already done. Not one, or two but three delays was a huge red flag.
will be a nerve racking day for some, imo
weekend papers will do more damage,
GLA
think mike will be well insulated from all his trouble. anyone want my shares? £2.50 .for a hundred.
The numbers are big here might be some other assets being sold
No, you're right. Tin hats...and a metre of reinforced concrete.
Tin hats wont cut it
The fine they believe is not material to the accounts it won’t be anywhere near the 600 million if it was the accounts would not have been signed off on audit. It will end up been much less. Buying op on Monday
Easy to see the reason for the delay. But why? Are they hoping a tsunami will wipe Belgium off the map over the weekend? Failing such a calamity, don tin hats come Monday morning.
All this crap is happening far too much on stocks recently.
Shorters will make a packet. Lowest price monday I'm going with 130/ 135 ?
I don't usually post on Bill boards where I don't hold shares
Crikey I going to be watching this one on Monday open
That Tax Bill is enormous
Any big name shorts here ? I bet they be drinking champagne tonight in the City
Dan mate no this is big and bad... 20% to start monday sell on bell
674 million tax so they must of earned it many times over . I DO EXPECT A SHARP DROP monday
I LIKE the bit where he says ceo of company should be random drug tested . He is right a lot of coke heads out there ruining our wealth and life
scaremongering to pick up cheap shares LOL
The Group's Working Capital Facility is at £913.5m
current debt £378m
tax demand from Belgian authorities of €674 million
Do the sums
oh dear !
Start again, damn I wish there was an edit button here
Define "Less than probable" lol, what sort of analysis is that ! choose from a) possible b) improbable c) we're in deep s***
"management believe, as at the date of signing of the financial statements, that it is less than probable that material VAT and penalties will be due in Belgium as result of the tax audit"
*Define
Deine "Less than probable lol", what sort of analysis is that ! choose a) possible b) improbable c) we're in deep s***
"management believe, as at the date of signing of the financial statements, that it is less than probable that material VAT and penalties will be due in Belgium as result of the tax audit"
Belgians are just annoyed by Boris
Sure delayed results money man gone and last paragraphy 5pm friday RNS
management believe, as at the date of signing of the financial statements, that it is less than probable that material VAT and penalties will be due in Belgium as result of the tax audit.
And money man going