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PP1. I never let scaremongering on here affect me, as i said in my post. I have held - buying and selling to limit taxable gains in company years, and on peaks to buy back - since 2015. I have the same stake as i did at £12,500 in 2015, and have made that much back while retaining exactly my original number of shares.
But that isn't to say that i am uncritical of the company's governance. The ShadowFall report did inflate the cost of purchasing the remaining third of PLT but at the same time long term holders sold when BooHoo did not assert it's right to buy the whole of PLT for £5m.
On balance my view is that it's worked to the benefit of shareholders as Umar K has grown PLT massively but that wasn't necessarily the reason for BooHoo not buying the whole company.
Finally the share price went up after I sold my shares! And since they've only been below my selling price very briefly. I think they will but I have no hard information and data to back this up.
But ... the holders that read posts on this and other private investor sites won’t make any difference to the share price. Private investors hold a minority of shares and surely most or many are going to be similar to me - I look at these posts and take my own view.
So they must really believe that the share price will reduce.... take for example Shadowfall. The directors there aren’t idiots. They took a lot of time and trouble to produce a detailed report.
And there was - still is - something to think about re the Kamanis behaving like a family firm. One of the reasons for staying on Aim in my view.
But the BooHoo board reacted quickly and in a very sophisticated way. Paradoxically it strengthened BooHoo in a way that fee - and certainly not Shadowfall - could predict
To be open about my position - I sold half my holding last Wednesday after the results, purely for tax reasons, as I sold loss making shares to reduce my company’s tax liability
But i am awaiting the usual retrace and I’ll be back in for the 30,000 shares I sold. If it doesn’t happen I’ll pay more. At the moment the shares are only just below my sale price. I’m waiting a while but my cash isn’t going anywhere else
I agree too. The share price growth target was steep and the gains for shareholders will be in the billions if he achieves it
It’s very easy to say the target is soft right now, but it didn’t look like that in March. The fact is the strategy during Covid has been pretty much spot on, and Lyttle has placed the company at a long term structural advantage to the market
It’s by no means done and dusted and received fly shorts have increased. But I’m keeping my shares although being watchful - one thing that always reassured me is the sudden appearance of negative posters with no shares ...
Fingers crossed and best wishes for my fellow holders
Shadowfall
I Think you mean ‘father’. I wrote in an earlier post there is no ‘wrong’ or ‘right’ about the original decision to buy 2/3 of PLT rather than the whole company.
We have no way of knowing whether we’d be better or worse off. What we do know is that Boohoo shareholders have the whole of PLT now at a significant market discount
The share price says that at present the market approves. Whether the SP remains its current trajectory isn’t known to any of us. Not you and not me.
So whether to buy, hold or sell the shares is a judgement call. Mine is to hold - not to buy more or sell.
One thing for sure - no opinion on this board forms a basis for my call, nor will it in future
I completely agree wit these points. I have followed this board to a varying degree since o bought in 2015.
I have never bothered about ultra positive or negative reports as the authors pretty clearly have selfish motives. This is especially the case where posters don’t own any shares
I do however respect the views of those who sold following the original PLT purchase, and / or those director sells.
I do think that Kamani is a family businessman - well he is - and has problems with corporate governance.
I felt on balance that the appointment of the CEO was a good external check and overall I’ve been pleased by his performance.
On PTL - I think I’m the end it worked reasonably well for shareholders. We’ll never know the actual net cost as the brand would almost certainly not grown as much as it has without the incentive
And in the end family ties probably led to Umer settling for less than he had to.
So what I am going to do? Sit tight for the moment with a view to holding long term and getting income I need from selling other shares in my portfolio.
But to reiterate - just look at considered comment by long-term holders and ignore those whose motives are transparently selfish
Well, I am not in a position to make accusations: all I can do is observe events from my smartphone.
But for me there have been for some time governance issues aside from the obvious one with family ownership of PLT. I’d be much happier given the size of the company with a full listing and a move from Aim, which is too much like a casino.
I buy shares for between £10,000and £15,000 a company. I was fine with Boo when it was 5 per cent of my portfolio but right now it’s over 30 per cent ??
I am also a long-term holder - since 26p days. I’ve held since then despite the occasional thought of selling.
But right now I agree with you Conno. This whole thing has a bad smell about it and the posters mentioning NMC have a point.
I can see why the company only bought two thirds of PLT - it was actually worked for shareholders. But the half truths about acquisitions and this sudden attack have made me concerned about possible other shocks round the corner.
I was going to keep these shares for years, disposing gradually depending on my company tax situation etc. I’m still inclined to do so but ...
Best wishes and good luck to all on this board who actually hold shares - not those trying to provoke and scare
But you predicted carnage this morning. And the market has welcomed the results, including the small decline in gross margin. The growth is stunning.
I think there will be a falling away to an extent in the coming weeks but carnage? Where is the evidence?
well ... he did post after trading had finished and there were some very large sells late on (or showing as sells on LSE). So there are some big players that see this evening as a good time to sell. I have a load of these, which I've held (with some trading) since buying at 26.5p, and I must say I'm nervous now ...
Well it’s the gross earnings that have led to a drop before and they are marginally down for the group.
They give a reason for this - investment in the NG proposition - but just a warning before the opening that overwhelming good news doesn’t always result in a big gain on the day.
As a holder of 60,000 shares I hope for the best but I’ve been through too many results days with this company for me to assume anything ...
Good luck all
There was a flurry of messages at the time - I think it was early 2017 but I’m not sure. C10 hadn’t posted for a while and someone said that he was a man in his mid 60s who worked at BooHoo and had died shortly after the last C10 post. The butty van stuff appears to have been an attempt at identity concealment - as was the female sounding moniker Anyway I know nothing whatever apart from what was posted at the time. I bought in to BooHoo in 2014 and obviously keep an eye on the share and chat. But I don’t post much