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Let's not forget the raise was done at a slight premium to the market price.

I'm surprised Kamani didn't use Ashley's tame brokers. Then he could have bought 4% on the QT whilst the SP fell 20% as Ashley did in January this year

Ashley certainly had all shareholders interests at heart back then didn't he?

So southcoast your basic premise is incorrect

At the current time the business doesn't need cash as it has an RCF until mid 2026

Amazed to see a member of the p&d crew has the temerity to show up

Happy Christmas to all genuine holders.

Scarlet that obviously excludes you

Southcoast the last RNS read like everything is now paid off apart from the £125m RCF which is mid 26

Southcoast it's important because you can only judge any decision in the context it is made.

At the time, the market perceived PLT to be a good deal.

Plenty of bad decisions subsequently, probably as Lyttle took more control, but PLT certainly wasn't a rip off

Cheers Cooler the number of agenda driven uninvested seems to be dropping in line with the shorts.

Hopefully we will be rid of both before too much longer.

Finley atleast seems passionate about succeeding here so that is a start

Southcoast how did the SP react after the PLT purchase?

I'm not saying JL was totally responsible. But as CEO he has overall responsibility for the business with the BoD providing oversight.

So, yes, I blame him for most of the controllables what went wrong as well as crediting him for most of the successes.

The final straw for me was launching a USDC that only had 60% of stock items for one brand.

Im glad he's gone, I'll be even happier if Kane goes and is replaced by a Frasers director.

So there haven't been two RNS today then Bon Scott

Why is it that only a couple of thousand pi's voted for Frasers when you were screaming that Pi's were going to vote Ashley in.

Strange that someone who hates management so much and thinks the business is on a fast track to admin doesn't sell up. Probably because you have no shares to sell?

Southcoast why do you keep this narrative of Carole being joint CEO. She isn't. Her job title for years has been Executive Director.

I don't think she actually does anything and should be got rid of, but she certainly hasn't been CEO, Lyttle occupied that role alone

I'm looking at the sp as a nice little Christmas present and buying a few more over the festive period

hexam seems you are still desperate to pick an argument.

the simple fact is commercial property prices have plummeted since boo bought the soho office.

by extension of your logic everybody who got caught in the numerous negative equity episodes in this country over the past few decades were just thick and not subject to market dynamics.

bad historic management has led to a situation where the property has to be sold. the price seems poor but i'd like to see the overall deal.

rather than ******** why not contact ir?

the person responsible for most of the bad decisions has now gone. he should have gone sooner but finley seems a decent option to replace lyttle.

atleast all of you idiots talking about admin may now give it a rest

Great to see that we are rebasing more naturally now after the intervention of the pump and dump crew last week.

Those scum really should be banned for life.

Good luck to all LTH

Hexam it seems the only person who wishes to argue with me is you!

As I've said the price is poor.

An average interest rate over the past few years would have been a couple of percent per year so far less than the rent saved.

You actually make a good point but there is no need to be so hysterical

It's not necessarily Garies selling now. I think only one of the two Semnet directors is still with the business. He may need the money. Luckily he doesn't have that many shares if it is him

Depends on the overall deal.

49.5 cash seems a poor price

However add back the £15m plus they would have paid in rent and it doesn't seem quite as bad.

Plus we don't know if there is a lease back arrangement and it's terms

It's entirely possibly they have swapped an element of purchase price for rent discount

Yeah I wonder who placed the Telegraph article!

Matt you can't be that bad at picking shares if you have chosen this one.

The hardest part sometimes is holding when 50% or more down. It happens to us all. God knows I've been there a few times. Most times I've ended up multibagging,even when I'd mentally written off the investment.

I reckon you will do the same here given time

That's what surprised me too southcoast.

I never thought pi votes would be enough to affect this decision. But I did think a lot more would register their dissatisfaction

I'm interested to consider if the position will be substantially different at the next vote.

I'd happily vote Kane off the BoD tomorrow. Kamani I probably wouldn't as I want Umar to stay

The support the BoD got didn't surprise me as long as the Ii's voted.

I always said the vote would be decided by Ii's.

What did surprise me was how few Pi's voted for Frasers. Let's assume an average pi owns 5k shares. That means only a couple of thousand pi's actually voted for Frasers. Which seems to be surprisingly low to me.

I'm wondering if there are any reasons for this and if it will be repeated in January.

I'm not so sure all the Ii's will vote against in January

Southcoast why do you think Frasers got so little support?