Member Info for alex1621

Hearing that Ashley lost the vote. Might explain the no show?

They don’t announce at the EGM?

Is it over? What was the result?

He administers many businesses that have failed. I’ve not read about any of his turnarounds (unless it was after administration?)

I don’t think it is an imagined concern.

The Drapers article makes a fair point. If I was looking to takeover as CEO of a company I’d be looking to add an online retail specialist to the Board, not an insolvency practitioner. I’d prefer a Frasers board member, rather than Frasers taking control without paying a premium.

Quakerjon ... sadly, I think you may be right.

Whatever the result is tomorrow there are people who already know, this is not a company that can stop information from leaking ... I still don't know what the market reaction would be to either winning?

I don't think a board win is a positive but it may well lead Ashley to go hostile. He seems to have the bit between his teeth on this one. But I don't expect a particularly encouraging trading update because if it was above expectations it would be out by now.

Roll on tomorrow.

This saga will drag into January whatever happens tomorrow. We still have the Kamani vote in our sights.

If the Board win tomorrow I will vote all of my shares to oust Kamani. Whatever his official title he will be running the show at Boohoo. I think it would run better without him. Give the others an opportunity to run without his interference. I’d like a Frasers rep on the Board also.

Hexam - Jeremy and BFD are one and the same. But I suspect you already know that?

What does everyone think?

Ashley win or Board win?

I have no idea, but the surge on Friday is beginning to look a lot like someone buying up votes because they are losing. And that would most likely be the Board, who can view the votes.

I think the vote outcome is known also, but I’m not sure what the market reaction will be either way.

I’m voting to oust Kamani in January. He has gone beyond the point where I give him the benefit of the doubt. If Ashley fails to get a the CEO role then I’d expect a Frasers representative on the Board. That would give Dan the opportunity to show what he can do without undue interference. But they all need to start focusing on the business and move on from this circus.

Yorkshire - the point being that any news was not publicly available, so as far as you were concerned there was no news.

Is this the same Jeremy that was telling everyone that the shorts were bailing out? You appear to know more about Fantasyland than me?

If someone inside Exxon told me that Exxon was going to make a bid for BP at a 70% premium in two days I could buy BP tomorrow and make a profit. But I couldn't buy that much, I don't have 100 million to invest. So if only a select group know this you don't get massive volume. It's not the same as announcing it on media channels.

It's a manipulation by market makers to get the price down for Frasers? Really?

Frasers already own 28%, they can't buy many more shares without triggering a takeover offer. So they can only go to 29.9% and then they will have to stop. Indeed, Frasers may well have been the buyers on Friday? There were claims that it was shorts closing out, but there is no movement in the short tracker, and the SP had been climbing for some time without any changes in publicly known short positions?

If information has leaked it will not be put on a website or published, but there will be a select group of people out there with insider knowledge who are trading on it. They won't be trading enormous volume, so I wouldn't expect to see massive volumes.

These SP movements are weird, and could possibly indicate that information is out there that is not publicly available. We saw something similar before the US Distribution fiasco was announced.

Is it possible that the SP today reflects the result? I can’t imagine that if the result is known that it will not leak before the EGM.

Rio - I agree that all the Boohoo activity was down to them seeing what way the wind was blowing.

I still have no idea what the market view will be on this result.

Parsnip ... if you looked beyond the daily up and down of the SP you'd realise that Shein is the main reason that online retailers like Boohoo are doing so poorly. So what happens to them matters. They are also a potential acquirer of Boohoo so it makes sense to watch them closely. What would happen if they were not able to operate in Europe or the US? That market share has to go somewhere.

SCB - that is my thoughts entirely. Shein is a company that has never been under the microscope that public companies are under, and should it float there will be a sustained shorting attack. So no institution wants to touch it.

As I've said before I don't think that the Shein business model is sustainable ... and if Boohoo can get its act together it may well recover strongly in the future.

Is it that?

Or is it that there is no appetite amongst investors for what they are selling?

Frasers are now above 28%, so they cannot just hoover up shares without triggering a mandatory takeover offer, and I do not think that is their plan before the vote is announced.

As for market makers, who really knows what moves this SP?

We should be honest - none of us have a clue what’s going on.

Like the old Chinese proverb we are “living in interesting times” … not necessarily a good thing.

I wonder whether the result of the EGM is already known? It doesn’t strike me that Boohoo have a loyal staff, given the level of change and ongoing redundancies there will be many who are talking.

One of Ashley’s executives at that conference call last week alluded to that. It appears that insides are approaching them.

But my question remains unanswered. None of us really know what the reaction will be to Ashley winning or losing. Although this would be a battle, not the war.