The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Well I took a big beating on Carillion and now Debenhams... yes I made mistakes but that’s life. I’m surprised of the love of Mike Ashley on here currently, in my opinion he played us all. If he wanted it why not just bid £60m from the outset? We were student poker players up against the World Series players. I chased this from 21p to 2p yesterday and realised I was full shafted by Mike and Debenhams yesterday afternoon. Mike Ashley remains a true vulture just like the hedge funds that took this company. Love your family and the great outdoors all.
Surely this is a company with big debts but it is NOT insolvent. Could they have tanked £100m in a few weeks...!! I think their debt shot up in last few months due to suppliers wanting faster payment. Not sure where this is going but the business can not survive in its current format. Best of luck to those holding.
I view Mike Ashley as a bit of barrow boy, yes he is very rich but surrounded by clever advisors. MA and his team were always going to take this to the wire. Let's see what Monday brings (I think there will be an RNS saying a short extension of a week for all parties)
So you think the DOB can enter a per-pack admin, and still carry on running the company.... fork that.. no chance ! I think there is a complex outcome going on with all parties involved. Possibly Mike Ashley has struck a deal to buy out of admin already and write off his £180m. The board has already gone what ever happens, they have just put Britains biggest department store in private hands what ever the out come. I still own shares and want a MA bid. The only certain is Debenhams shares will not exist at the end of next week.
Sorry fella but charts, graphs and maths are out the window on this one. How this one ends up is anyone's guess!
yes I bought back in on Monday. I think there are probably a lot of staff who are small shareholders and I would like to see staff looked after (I am a civil engineer and no connection to Debenhams)
Folks... 21p share offer.. not a chance! I have been in Debenhams for a long time and bought at 21p, 15p and 6p. My break even is 19p. Mike Ashley may make an offer, anything over 10p is a decent offer. The company is stuffed that's for sure, it can only go to bondholders or Mike Ashley. I'm unsure about the BoD, yes they have shafted shareholers but are they planning an exit that could be the best of the worst scenarios here for shareholders ? The BoD must protect the Debenhams staff who must be heavily in debt as shareholders (work share discount scheme etc)
Mike Ashley has said he "may" bid.. but is that after administration or before ? As a business Debenhams can not carry on and trade their way out of this... So if the lenders approve the £200M tomorrow how can they trade until 22nd April before entering admin ? There is no formal bid! the BOD could wipe us all put at 5pm tomorrow (I am invested and bloody hope not :-) )
HK - I was thinking exactly the same, he offers £100m for danish business but values overall business at £65m....!!!!!
Would the bid have to be tabled before the Thursday deadline for refinancing and could the bondholders do any thing to derail it ? If this starts moving fast and shorts close out it could get very interesting.
I sold out on Friday with a 12k loss.. I think we may see admin this week and then they secure the new loan facility.. sad end for shareholders. All the best if you’re still holding
But does a CVA always wipe out shareholders ?
If they approve a CVA and agree the £200 million refinancing this week would that 100% wipe out private share holders like many in here?
I'm out.. turned my £14K into £1,500... but when i read that Debenhams were saying there could be "wipe out" for sahreholders you know the time is up.
Question: If Debenhams secures the £200 million refinancing is this the end (and the company has effectively been bought out by the bond holders) or is it a positive and potential survival ....?
I see... so Sky News were in on all the financial meetings, and know the final out come before everyone else.
So you think securing the £200 million loan is th end of the company ? I think it is a life line.
I'm confused... Sky report that Debenhams are basically going to secure an extra £200 million lending... but then say this buys them time and then... the "company is likely to go into a pre-pack admin.. wipe out share holders, sell to the lenders, administer a CVA and do a debt for equity swap".... So basically they covered every out come in that bullshit report.
Why not sack all the staff and put an honesty box by the door... company would turn around over night ? Would just require a few cleaners and shelf stackers....
No one to date has made ANY offer for Debenhams and folk here think Mike Ashley is coming in with a decent offer. There is NO competition for Mike Ashley here... he can have a free run any time, but time is on his side and not ours unfortunately.