The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
I fear you are right here, OSG.
Minto + Boo = control.
With BH as CEO, shareholders have a chance of relisting and realising some value. If BooMint are successful, this just gets swallowed up for chump change.
And the sad thing is Boo will f#
Neil is right about Ashley.
From personal experience, I can confirm.
But Ashley's machine could not cope with ASOS. They are struggling with managing what they bought last year already.
Feels like it's just an opportunistic investment, rather than strategic.
And let's not forget, he bought Debenhams, and wrote off north of £150m.
BUT, having said that, his ego is massive and getting hold of Philip Green's baby, Topshop, may prove too tempting.
Given BOO's current MC, it's not inconceivable that REVB may quickly have a higher MC than BOO, after a few days of trading. In the scenario BOO try to acquire REVB, it would be a Reverse Take Over, presumably suspending BOO's listing. Unless REVB get re-suspended as well (I don't know the rules here), then there would be ample time for the rerate.
I guess we find out soon enough.
Either way, I aim to be buying at 08:00 on re-list day.
Anyone knowledgeable on RTO's in relation to the target?
Published this morning:
It reads similar to a Joules article, a few months before Interpath were called in (not that they are comparable businesses, of course).
Online fashion giant Asos has posted a fall in sales over the festive period but said it is making progress on its turnaround.
Asos reported a 3% decline in revenue over the four months to December 31, which it said was in line with expectations.
Asos, which has been battling to adjust in a shifting market, said it expected its recovery strategy to start bearing fruit in the second half of 2023.
Asos’ UK sales tumbled 8%, ”reflecting weak consumer sentiment”. The retailer observed: ”This was particularly significant in September, which was impacted by national newsflow, and December, which was affected by disruption in the delivery market. This resulted in earlier cut-off dates for Christmas and New Year deliveries, and Asos reduced marketing spend in response. In addition, there was a strong comparative period in December 2021, as the Omicron Covid variant boosted online retail.”
Sales in the EU rose 6%, US sales fell 2%, and revnue in the resst of the world fell 10%.
ADVERTISEMENT
Asos chief executive José Antonio Ramos Calamonte said: ”We are undertaking necessary strategic and operational changes, with our focus shifting from prioritising top-line growth to building a more relevant and competitive fashion business with a disciplined approach to capital allocation and ROI. At the same time, we are working to reinforce our credibility as a leading destination for our fashion-loving customers.
”We have made good early progress against a number of measures to simplify the business, including repositioning our inventory profile, reviewing our operational model in our top markets and reducing our cost base. While there is more to do, I am pleased by the progress made in this period and am confident in the direction we are going. We retain ample balance sheet flexibility and reiterate our expectations for full-year ’23.”
Just traded through IG.
A toe-dip only. Spread seems high?
LTH hold so I guess it matters not.
I'm too heavily O&G weighted at IG already - in the absence of anything more attractive to dabble in, I keep coming back to O&G..
Wise or foolish? We shall see.
Pasted from BLM website:
BLM UTAH OIL AND GAS
The Rocky Mountain Region holds large reserves of conventional and unconventional onshore oil and gas deposits. Utah’s natural gas fuels not only homes and businesses in Utah; it also is used by surrounding states. Utah also produces a significant amount of crude oil, primarily from the Uintah Basin in the eastern part of the state.
Public lands are offered for oil and gas leasing after they are nominated by the industry and the BLM evaluates environmental factors. Leasing decisions are based upon land use plans that consider the many resources and uses of public lands and their impacts on one another. Once lands are leased, applications to conduct exploration, drilling, and production-related activities are reviewed to ensure technical competence, environmental protection, and mineral resources conservation. The BLM is responsible for approving and inspecting drilling and production operations.
Since they acknowledge approval is their responsibility, could they kindly get on with the job ? :/
This morning's Directorate change RNS not exactly instilling confidence.
Not helpful.
Needs cash by year end.
All eyes will be on Q4 trading before any successful equity raise imo. Feels like it could be December for new funding, and the model has to be proven to work too - the ability to trade profitably.
SP to hang around 5p - 8p range until then?
BOO strategically taking 7% in REVB makes a world of sense..
NEXT taking 25% of Joules = highly synergistic, and obvious.
MADE needs similar strategic investment, but the home sector is less obvious. Dunelm? Historically, they bought WorldStores, which in turn owned Achica - all 'home'. Maybe.
NEXT - 'home' is under represented. Joules have a partnership with DFS and bought Garden Trading. Maybe a fit.
Otherwise, I'm struggling for strategic investment partners here.
Agree the model is broken at the moment. Margin squeeze and relatively low demand in sector.
Currently am out, but looking for reasons to be IN. It's cheap, granted. But only cheap if there is a clear path into 2023 and beyond.
The only factor holding me back WAS the audit result, expected end of month. With BOO accumulating, they must be comfortable the 'material impact' is not so material.
Gutted to miss 8p. Had fully loaded at 30p. Still, 60p feels achievable in the short term now.