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We don't get access to their customer base!

The BoD have produced a plan. The question is around credibility

It's all laid out in RNS.

Id guess they are hoping that Christmas trading may help to establish the credibility

Semnet take other people's software and hardware and build customer solutions.

That is the extent of the Veeam relationship id say

Https://www.telegraph.co.uk/business/2024/12/08/mike-ashley-egotistical-boohoo-founder-destroying-business/

This is exactly why I'm voting against Ashley.

His approach is far too aggressive and there is no way he can work with the Kamani family.

A simple question

If Ashley genuinely wants to work collaboratively, why fire off another aggressive and argumentative letter?

Southcoast from my brief look at PLT purchase, it would appear that the SP reacted positively after the deal completed, which would indicate that it was perceived to be a positive.

Why would you expect to hear anything on brand sales etc when the company have said that they are at the start of the process.

I'm sure the financial journalists have better sources than big Mike, if they had even a sniff of anything being potentially sold on the cheap it would have been headline news by now.

How has big mike's guidance worked for studio, Matches or Misguided

It's good they are having constructive talks around Debenhams

I've said for many months that the best solution is a partial spin off Frasers opening some stores.

Hopefully the fat egos can see past their self interest and get this sorted.

It doesn't need big Mike on the BoD to do it tho

It should hopefully be a far more complex set of accounts this year. Plus, if the results are good, I'd hate for them to be lost in the middle of the market closing down for the holidays.

So I'm hoping for early next year

What evidence do you have Fed that there was ever a plan to sell Debenhams

There has never even been a rumour in the media that there was any form of plan to do so.

Why would anybody business sell it's rising star

So Fed you have gone from not engaging with my posts at all to not engaging with my points by posting lies and insults.

It says even more.

My position is clear. I'm voting yes to Lennon and no to Ashley. Because I want more independent oversight on the BoD and Frasers should have a board seat with their shareholding. What I don't want is a wholesale walk out by the existing BoD as that is counter productive. Ashley's aggression and antagonism is far more likely to lead to that end result.

Boo can't comment because they have instigated the police investigation, that is clearly.

Frasers, if they had nothing to hide, could issue a denial

It's interesting that they have chosen not to

Your silence speaks volumes Fed

A single board propagandist

Totally transparent

My feeling is most people aren't aligned to Ashley, partly because his self interest is well known, but also because he has not made any attempt to explain the change he would bring.

Fed what you are posting is complete nonsense.

If this is a vote of confidence in the BoD, then by voting against their recommendation it becomes a vote of no confidence. What should they do in that scenario?

Who are Ashley and co you are referencing. Are you talking about a wholesale board restructure? Who would this mythical super chairman be?

What you are suggesting in essence involves a total board restructure

What you are posting is not only illogical, it just makes your agenda even clearer

If you genuinely believe this vote is a judgement on the existing BoD, would you expect them to resign if they lose Fed, and what situation would that leave the business in?

Fed where on the voting paper is any judgement on the existing BoD?

This is actually a vote in two parts

1. Do existing shareholders want an independent director who is aligned to the largest shareholder and is independent of existing management. That person is Lennon and my answer is yes.

2. Do existing shareholders want somebody who knows nothing about online retail, has a track record for placing businesses into admin and only ever acts in his own self interest on the BoD. Somebody who will be exceptionally unlikely to be able to work with existing senior leadership. That person is Ashley and my answer is no.

58m shares or so would trigger a TR1.

So when people talk of tens of millions they are talking of less than this figure

The original RCF was £325m

£100m has now been paid back.

The new facility is £222m with £125m revolving until mid 2026 and £97m as a term loan repayable in August 2025.

At the half year, remaining liquidity was £132m. It's likely there will be a small cash out flow in H2.

So, to give a safety blanket, I'd guess sale and lease back of the Soho building will be required. This should give an extra £60m cash.

The question is does this provide an adequate buffer for the short term. It may be they go for a brand disposal as well, most likely Nastygal imo, to demonstrate actual value of the component parts of the business

Yes Jeremy, it was going to happen for the reason you stated

May also be an element of both parties wanting to maximise their voting power as well.

To put it in context tho, the volumes we are seeing are historically average at most

The sell was actually cancelled.

The Mm's are an absolute joke.

Why are you responding to Simon the idiot

Ignore him and he will go away.

It just clogs the board for no benefit