Member Info for chilting

GAP is to close all 81 of its UK and Ireland fashion stores by the end of September and move online only in the UK and Ireland.

https://www.bbc.co.uk/news/business-57670737

Also we learned this week that M&S are now transacting 50% of their clothing sales online.

The momentum that started well before the pandemic and picked up pace during the pandemic continues.

GAP is to close all 81 of its UK and Ireland fashion stores by the end of September and move online only in the UK and Ireland.

https://www.bbc.co.uk/news/business-57670737

https://www.enquest.com/fileadmin/content/Golden_Eagle/Golden_Eagle_-_Combined_Circular_and_Prospectus_dated_30_June_2021__Final_.pdf

mrc
Its just as well it didn't happen - thankfully AB didn't follow that route.

Excellent

Mrc
No one said it would be - we were just comparing different types of retail offer - retail investors need to know the difference.

Anyway, Enquest's OO is only open to shareholders - that wouldn't work on the Primary Bid platform.

Kraken
I think that we have to accommodate all views here and have a free exchange of views - some will prove to be right and some wrong - this isn't an exclusive club, its a sounding board.

I do actually agree with a some of what Romaron says and fully accept that these are his views - its always worth have a counter view in debate and admit that sometimes I do play devils advocate.

This RNS from Ocado explains very well how a retail offer run by Primary Bid works alongside the bookbuild for the institutions - this was last June as part of Ocado's latest £1 billion fund raise.

https://www.londonstockexchange.com/news-article/OCDO/retail-offer/14573141?lang=en

mrc
Yes, I think that sums it up - but they also handle IPO's that private investors can participate in as well.

Don't worry Stumpy, don't take it personally.
Its best ignored, try and rise above it.
Some people have very fixed views and don't like having their ideas challenged.
I don't pretend to be an expert, but I have come across the book build process recently with Ceres.

Primary Bid doesn't just handle IPO's it also gives access to some Accelerated Book Builds, but only if the companies want to involve private investors in the fund raise - in Enquest's case they didn't.
The only notice you get of a book build is via an RNS and it generally starts when the RNS is issued - that is usually at close of business. They generally close within a few hours.

It usually takes rather longer than that Stumpy - maybe w/c 12th July.

Stumpy
Yes, under Corporate Actions but make sure the broker gives you the option - some brokers don't seem to be that efficient.

Brent is up nearly a dollar this morning - hopefully good vibes from OPEC+.

Also of note - Russian crude production in June was lower than May due to production problems - I guess that could affect OPEC+ discussions.

https://oilprice.com/Latest-Energy-News/World-News/Russia-Is-Struggling-To-Boost-Oil-Production.html

My free access to law 360 expired.

These seem to be the relevant court papers.

https://s3-us-west-1.amazonaws.com/ptab-filings%2FIPR2021-00311%2F11

https://s3-us-west-1.amazonaws.com/ptab-filings%2FIPR2021-00311%2F12

Deciphering them is a whole different ball game - can anyone help?

Yes, I see oxygen - the 2's were on different lines - I thought that was a bit odd.

Kraken
My last reply was wrong - as Jan points out dates are in RNS.
Date to qualify for OO was last Monday 28th at 6pm.
OO application to be completed in full, including payment, by 11am this Friday 2nd July.

That is very tight!!!

Kraken
It just says qualifying shareholders - I guess the prospectus that is to be issued later today will give detail on that point.

Jeffery
5% dilution as a result of the Accelerated Book Build Placing that is in progress now.

The chance to purchase the other 5% on offer for 19p - 5 new shares for every 89 shares that your own.

Pelle
Yes, but its not all bad for shareholders - we do get the extra shares at 19p.
I guess if the OPEC+ meeting results in Brent continuing to rise, 19p will seem a bargain and the shares purchased will already have a good premium.

If the SP falls bellow 19p as a result of the OPEC meeting then shareholder may not participate in the offer and AB picks up another windfall of shares.