Member Info for alex1621

SCB was one of the most optimistic posters a while back, a cheerleader, and he’s gone on to be the most pessimistic today? Given that most posters talk their own book can we conclude he sold at a massive loss, and hopes to recover from going short with the amount that was salvaged? But if I’m wrong, and you are simply “out”, I don’t see the point in the constant doom mongering?

Did anyone expect to see a positive profit before tax? I certainly didn’t, and so the, let’s be honest, poor result was not completely unexpected. There are certainly green shoots, and if they can grow the business and tackle the debt it will be an interesting few years to come. But that is the key, Dan has to show that he can now grow this company and get it into positive cash flow and profitability, and that will not happen overnight. I’d like to see him get his bonus, for purely selfish reasons.

The reason for the Boss offer is connected to the put options held that would push Ashley over 30% and trigger a mandatory offer under German law, potentially at a price set by regulators. By acting voluntarily whilst below the 30% Frasers gets to control the price, a low ball one. It is not a serious offer. And that is the issue with Ashley, he is only interested in buying assets cheaply. So I don’t expect any offer for DEBS or ASOS from Ashley - other than at a derisory price. As White Knights go, he is the worst you could hope for.

I think Dan has done a good job so far in salvaging the wreckage but now he has to deliver on growth, profitability and free cash flow. I’m just hoping that Kamani doesn’t start taking back control again. I hope he has the sense to let the team deliver the strategy.

More likely to see Ashley selling … never a man to miss raining on a parade.

Perhaps the uptick in the SP in the last few days was due to leakage on the update today? Some green shoots, but I’m not getting carried away, still a long way to go.

I think this is more than just “chatter”. I recall similar chat surrounding Direct Line … which went on for a while before the first unsuccessful bid by the Belgian insurer which was followed some time later by Aviva’s eventual takeover.

According to Buffett buybacks make sense if the company is trading at a price below “intrinsic value”, and don’t make sense if the share price is at intrinsic value or above it. So if you believe the value of the company is not reflected in the current share price then it’s beneficial to a shareholder, according to Warren Buffett.

Ashley actively trying to sabotage the fund raise? Normally when outside investors build up a stake it’s with a view to a takeover and full ownership. It seems that Ashley wants control without doing that? It’s questionable whether he would have acted in good faith had he been successful in becoming CEO.

Another fund raise? Maybe not that surprising given the decision to take PLT off the market - that’s if it was ever for sale in the first place?

I have speculated about a Shein takeover for years, always premised on them floating on a stock exchange. I read yesterday that the Government is trying to make it easier for Chinese companies to list in London. That might put Shein back to a London float, perhaps? If more Chinese companies list in London scandal will follow. There was much talk of a Hong Kong float, but I’ve not heard much on that recently? Does anyone know?

I think if this share ever gets to 75p it will have to show growth, increasing profitability (profit after tax) and debt repayment. It would not get there unless there were real tangible results. And if that ever happened it has the potential to move higher.

But sadly we are nowhere near that currently.

It was a positive update, particularly in this trading climate. Still a very long way to go. The PLT announcement a bit suspicious? But if they can revive the brand I’m okay with that.

I suspect that Frasers only went up to 29% to wrest control of the Board. It wasn’t a precursor to a takeover. I think their initial investment was opportunistic, because they believed the business would bounce back and they would make a decent profit. Of course, that turned out badly. They may well bring their investment down to a much smaller percentage, which means more selling ahead, which will dampen any prospect of a SP rise.

The only answer to shorters or large sellers is good results. Let’s hope 2026 is the year that happens?

My theory for more years than I care to remember was that Shein would be a buyer after its IPO was out of the way. But the IPO has been dragging on for years due to Governance issues. I think Reeves has kept the door open for them in london by failing to immediately crack down on de minimis, but even this won’t work. After the Hong Kong IPO they may well buy PLT. I note that their CEO recently moved to the UAE, a Kamani stomping ground and home to Umar, I believe? That sale makes sense as Shein can do more with PLT than this lot. So I’ll reserve judgement until after the Shein IPO, whenever that will be?

I suspect it’s a number of reasons:

1) money raising for other ventures like shopping centres

2) Not being prepared to engage in a takeover.

3) realisation that board coup is not going to happen

4) realisation that buying out of insolvency increasingly less likely.

Now Ashley is offloading shares, now 27% … ish. So no takeover bid, but does this suggest his chances of buying from insolvency is diminishing?

I’ve posted the last few days but I’m going back into hibernation. I thought this board was becoming too toxic. Catch up later after the next update.

Percy - I’ve no idea what you are on about? If you are going to troll someone at least make it make sense?

SCB - I don’t think many of us expected the company to go from one disaster to another, the way it has done. During the Covid boost many of the analysts were predicting that the SP was heading to the moon. Post Covid it’s been a horror story, but my expectation was that they would recover after the supply chain and inflation issues died down. As we know, that didn’t go well. And If my memory serves me right I believe you did to? Indeed, you were one of the most optimistic posters on here.

As bad as things have got I still believe a recovery is within the realms of possibility, but it’s too early to be anything other than extremely cautious. I’m willing to hold on and see how 2026 pans out.

Okay Hexam, no issue and no harm done.

Yes, the market reaction reflected what market participants consider to have been a more positive outcome than they expected? Which was my point really. Saying “any of us expected” was simply a well worn phrase, not a pretext for you to get on your soap box.