The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Welldone Neyori!
I request as much peope to email FCA.
I have created a Facebook page on How Waheed Alli has robbed his shareholders in the Name of ASOS of India.
https://www.facebook.com/How-Lord-Waheed-Alli-Robbed-KOOVS-shareholders-in-the-name-of-ASOS-of-India-101188174738712/?modal=admin_todo_tour
Its just a beginning. We have lots of time to build that page and share it to the indian consumers. Its people justice.
Hi all,
I dont know why the FRP administrators report was not put to the public's view.
Got a response from FRP advisories as below.
I would advise that the Administrators’ proposals were uploaded to the creditors portal on Monday. A letter to all creditors/shareholders advising of this upload should be received today.
To access the documents please follow the below link:
http://creditors.frpadvisory.com
And enter case code K0505LON when prompted.
The report name is
Proposals (17 December 2019).pdf
Twilight, Financial system is just a number. It can be erased if UK defaults.
We can always start from 0. There is always a life for everyone to live. Please email me (black.diamondlse@gmail.com) with your details. It may be required when we need to fight together against this scam.
If not today justice will do its job one day.
Chinner,
Would you mind to do the honours please.
black.diamondlse@gmail.com
thats my ID
We exactly reached 5.14% and 32 holders. Need Chinners numbers. Been told he is another big holder.
The number of share holders will help too. Going alone and going in groups are different.
Don't know where we will be. still struggling to come out of the shock though.
Kong,
Just want to show to the World and Waheed Ali that just because of being a poor share holder we wont keep quite. But will ask them questions that they need to answer. I am sure he can pass through the system and the court as well. But atleast we need to do our part of questioning him in a place(Court) where he will be forced to listen to our questions.
I know people talk about legal cost. Lets see if there are anyone of our shareholders group who is a lawyer and ready to help.
Please give any valuable advice except the negativity.
All,
Thanks for replying.
We have crossed 5% now. Dont bother even if you have 100 or 1000 shares, it is still your hard earned money.
There is no gurantee to where we will go. But it is worth than crying alone.
Dont blame yourself guys. Just blame the Robber. You cant do anything when robber was wearing a Police uniform.
Also dont giveup. Money is just a printed paper. We can always start from square1.
When the God was against us and is backing Lord Waheed Ali, we can't do much.
Sorry for the delay. I havecreated a new ID just for this purpose.
black.diamondlse@gmail.com
is the new ID I created just for this purpose.
Please note that I will hold the details and when necessary for the legal action, we would require to file the case together. Giving the list of people who are impacted will be an additional support for the case.
For time being I will still maintain my Identity as Black Diamond. Will let you know my name later.
Below will help us incase if we need to meetup and tell the next plan.
Your name
Total number of share
Average price
Total amount invested
Your emailID
Your contact
Please feel free to give only the details that you are comfortable with.
I am definitely not Waheed Ali to rob you.
Hi All,
I am tryiing to get the total holding of the team who is going do a legal fight with Waheed ALi for legally robbing the money through the system.
Who ever is comfortable can you PM me with your total number of shares and contact details. I will collect it for the team.
I am doing it along with Putneylad. No lectures please. We need to act fast.
We may need to contact you when its time for the legal action against Waheed.
Thanks.
We need to join together and file a case against Waheed Ali. He is the NO 1 Robber.
WAHEED ALI has legally robbed the common mans money legally through the system. Shareholders need to take him to court for misleading and hiding his takeover intentions.
Koovs always surprises me with unexpected RNS at unexpected times. Putneylad I hope you didn't force them to release this RNS
Hi Putneylad,
I just created a new Twitter account. Just want to be anonymous. Thats me in twitter.
£250K placing at 28p was the real lock here. I think that was the lock placed by FLFL. Koovs could have given options and explanations for that £250K placing to FLFL as well.
For FLFL to take over Koovs at 28p for the remaining 75% it only takes £80 Million. But I really dont know if thats the plan of Kishore Biyani and even if it is their plan according to the RBI it is not allowed at ATM. I am sure for Amazon it is peanuts. It won' be tough for american companies like Amazon or Blackstone to invest in Koovs which is a UK company. We need to wait and watch rather than dreaming for takeover ATM. I am not sure if Waheed ALi will giveup at this point of time when everything has improved. For everyone including Waheed Ali it is easier to sort out the funding at this time when Koovs numbers are far more better. This company is improving in all numbers ATM except that its still running in loss which could take some time to break even. Once it breaks even it could be a replica of ASOS and Boohoo. If we noticed ASOS and Boohoo, both lost nearly 80 to 90% of its value after listing but managed to recover and then moved above its listing price. I think Koovs is exactly at that moment of its low. Waheed knows very well that this company needs some funding to keep it live for atleast another 2 years when it could turn profitable.
I noticed that Koovs Women Active currently listing 99 products against 75+ from yesterday. And 3-4 months ago there were 40+ products in this category.
This is one section that is growing gradually.
https://www.koovs.com/women/brand/k-active/
I somehow see Koovs as a female brand. The brands doesn't sound manly. They may have to come up with another brand name for mens. definitely not Koovs men. Looks at the mens brand names from FLFL - Indigo nation, Converse, Scullers.
None of the mens would like to tell that they wear a brand called Koovs. But they feel proud to say Lee Cooper, Levis, Allen Solly and much more to say. Just my opinion.
You are right putneylad!
The Koovs womens product range has touched 2400 and Koovs men has 1627 products at the moment.
2-3 days ago the numbers were below
Koovs women – 1700
Koovs men – 1000
2 weeks ago (On 25th Nov 2019) below was the numbers
Koovs women – 2043
Koovs men – 1367
4 weeks ago the numbers were too low.
Due to the black friday sales most of these products could have sold out and I think they are increasing the productst for the Christmas and Boxing day( I know its nothing for Indians. But since Koovs is a UK company it could offer more) sale.
This gives us more confidence now and is an evidence that these are not cash conserve measures and these are not the symptoms of a company that is about to go bust in 4 weeks.
This is what I hate with this management. The tell one in the RNS and act exactly opposite to that.
Sitting tight with my holdings.
Good Luck!
Putneylay, I really dont know the answer and just guessing that he will honour the agreement otherwise Blackstone and Amazon would have not invested this big. They trust him with their money so am I.
Let me put together some numbers
1) FLFL have already gave £3.5 million ( one third of the agreed investment + 1 million for platform + perks)
2) FLFL still need to give £6.5 million ( two third of the agreed investment)
3) FLFL current market capital is 860 million ( 8090 crores in indian rupee)
4) FLFL last years revenue was 670 million ( 6300 crores in indian rupee)
5) FLFL last years net profit was 20 million ( 189 crores in indian rupee)
https://www.screener.in/company/FLFL/consolidated/
Based on this and Biyani's track record, I think that he will pay the 6.5 million. But I dont know when it will come. Hope you know RBI. I been to RBI office once. They are much stringent. You cant find any back doors.
He may consider this as a consultation cost for his online desire.
In the worst case FLFL can introduce Koovs to Amazon( I know they may already know each other due to the Gulf Amazon platform usage by Koovs) and allow Koovs to sell their story and get some huge investments from them. I can only dream about this.
Putneylad, If you trust the RNS's released from Koovs management then you need to trust what is written there.
Below is the extract of it.
"FLFL has confirmed to the Company that it is in the process of reapplying for approval of the investment from the Reserve Bank of India and that it remains committed to honouring the investment."
For me I just read it and I don't take this seriously.
I am happy that FLFL is in a better position financially now after Blackstones investment and Amazons investment progression ( the speed braker was remeoved now). Looks likely that it could be good for us.
Sitting tight like everyone here. I know this is the most frustrating times. I just have to sit calm and see where the share price heads to before chrismas week.
Putneylad, You are reading in between the lines of the RNS that was written by Koovs management, Mary Turner and Robert Pursell who you don't trust most of the time, but trust them becasue of listening to their stories in the AGM or other meetings.
In contrast to you I don't read in between the lines of RNS from Koovs. Instead I get the message from Koovs RNS and then go to Future retails Investor presentation as well their notification to SEBI. I believe and continue to believe in what is written in FLFL investor presentation. What has happened to the deal in a closed doors is not visible to me or you or most of them here.
One good attitute from Mary Turner is that she waived off most part of her salary for the last 2-3 years when the company was struggling.
Koovs Investors DO NOT TRUST HIM or Putneylad DOES NOT TRUST HIM. I have to tell that you don't represent all the investors here. Everyone has a different view.
I don't expect someone in this board to set the expectations for all the Koovs investors. Though I respect everyones views and take a balanced approach.
I have invested in Kishore Biyani's companies. He is man of his words. People trust him. The problem here is with Koovs management. I think no one will accept the cash burn rate of Koovs except Amazon.
Ideally Kishore Biyanis strategy will generate wealth for long term investors and not for short terms. IMO Kishore biyani has too much expansion plans on other business as well. And he was in short of cash. Hence he put a token money of 250K at 28p placing. This will hold Koovs from looking for alternative investors. He may have thought that in the worst case if Koovs goes bust he can buy the whole company with 28p per share. But I dont' think that was the interest of Kishore Biyani. It was just a mutual benefit for both an year ago. In return he expected to get some inputs from Koovs for his desire on online retailing which he got it now. And THATS IT. No more strings attached IMO.
IMO Christian Westphal doesn't stick to any company for long time. He seems to be jumping like a frog so frequently.
Look at his linkedin profile. Indian companies for some reasons have foreigners in top positions to get exposure and contacts of foreign companies for expansion. I really don't think he makes any difference for Koovs.
https://www.linkedin.com/in/christian-westphal-41a6442
I think we need to rule out the option of Aditya Birla Fashion & Retail or Reliance trends investments in Koov's as they are competitors of Future retail (Brand Factory owners). I have bought loads of dresses from all these three fashion retailers. They got enough brands. As well Indian Consumers got enough foreign brands and most of them prefer american brands for western styles. Its like too much options given to the Indian consumers now.
What is really interesting going forward is the business relationship between
AMAZON = FLFL = KOOVS
Amazon is the only one who has enough appetite for the cash burn of Koovs.
I am not sure if I am bold enough to buy now. But I am really scared to sell on any raise. After Amazons entry I don't think that this company can go bust.
WAIT and WATCH.
There was a reason why FLFL placed 250K at 28p. Doing this will lock Koovs from looking for alternative funding solution.
Koovs has a good reputation of reporting to the shareholders only on the last minute. Last time when there was funding crisis the number of products listed in Koovs website went down drastically as a conservative measures and that is not the case this time. Waheed Ali has lots of options.
1) He can pump in 10 million to 20 million with a one time placing around 15p . He can cancel the FLFL funding and buy the existing shares from FLFL.
2) He can pump in 10 million to 20 million with a one time placing around 15p . He can however leave the shares held by FLFL. This probability is very high if FLFL can't do the remaining funding.
3) Waheed Ali can ask FLFL to use Blackstone for pumping in money. The probability for this is bit less as this will not give edge for FLFL. I don't think that RBI will watch Blackstone to pup in money on behalf of FLFL. This is not allowed according to RBI rules. But no one stops Blackstone from taking positions in Koovs.
4) Waheed ALi can ask his ASOS friends to infuse funds for shares or some control similar to FLFL. FLFL don't have anyother option other than to watch this due to RBI current rules. I don't know if he has good business relationship with ASOS directors ATM.
For any company we need to read between the lines of the RNS. But that doesn't fit for Koovs. For some reasons they are holding the price low. If there is a share option subscription at the current price then we need to object that. I suspect that could happen.
Nothing looks doom for me as I see its Business as usual in Koovs. I don't expect Koovs to release the RNS before the 2nd or 3rd week of December.