Member Info for D-Geeman

I do hope any buyers now aren't people on this board (Wyn excepted) as a buy from someone new would be much more helpful as an indicator than us lot just getting deeper and deeper!

GP7 why wouldn't you want to read every view possible. I don't get it?

Actually GP7, it wasn't £30m revenue I don't think, and even if it was we know that it isn't any longer. I'm not arguing for the sake of it, just trying to analyse the situation.

Hi Wyn, thanks for the counter view. I think if there is any value at all in the eve brand (I believe there is) then it should be better to get the company for a small payment (at minimum) rather than from the administrator (whose fees would have to be paid too). That's really the crux of what I was saying. If it goes into admin then there is less chance of someone picking it up than before admin.

GP7, all I was trying to say was I don't think Administration is on the agenda whereas we have talked about it as a possibility / inevitability if a buyer wasn't found. Obviously a sale at £1 is not ideal but I was using the extreme case to paint the picture. I hope you're right that there'll be a bidding war of course but I can't guarantee that being the case. It is what we all hope for, fingers crossed.

Morning, just some thoughts I was having:

Companies usually go into administration as they're saddled with debt they can never hope to pay off as they are loss making and can't pay their bill any longer. They can't trade as they can't but stock, they can't pay suppliers, nor pay their own staff. From there the administrators sell the company on at a low (debt free) price, or it goes bust, and the debtors lose everything (and the administrators still get paid quite a lot of course).

Here are just a few thoughts seeking a counter argument, if we don't get a decent offer to buy in the short term..

Correct me if I'm wrong but since eve aren't in debt I think that it more likely that the company would offer itself to a new owner for a nominal payment before it went into Admin, so avoiding a lot of the money going in accountancy fees to the administrators. It's not as if, in the current climate and heading for zero cash in the bank, that by trading longer and becoming more indebted – if there were a line of credit – things would improve for eve in the near term.

So before administration eve would say "come and buy us for £1" (which Emma or Simba would jump at as they could probably turn a profit and expand they market share) whereupon someone else would come along and offer £2, whereupon bidder one would go to £4 and so on. Before long we'd be way above £1 as we have products that people like, a website that works, existing contracts with Argos, Next, DFS, Oliver DesF, a data base, manufacturers and distributors, tax advantages, and so on.

So, I don't imagine we'll get to administration which is our own personal 'worst nightmare' as shareholders.

Maybe this is too simplistic, or obvious and I've just caught up ("no **** Sherlock") with everyone else – and a few pounds is not much more than zero anyway. It's just to point out that formal administration is not a realistic outcome here. I'm someone who doesn't know how these things work, it's just my common sense view. If we do go into admin it'd be because no one would see any value whatsoever in eve and that can't be true.

The phone number is only on google atm. If they are less busy then a phone number makes sense for customers (but mixed message for investors of course).

No new items on the DFS site.

Just looking at Cellular Goods plc. Down 70% since I bookmarked them but they will be aware of eve's CBD and David Beckham has enough cash to weather the current storm. He has 5% of Cellular Goods.

One entity trying to take over eve would be helpful but we need at least two to want it, to get the sp up to a useful level.

Haven't they extended the Live Chat hours? People used to complain that the chat only worked till 2.30 or 3pm.

'contact us via live chat
We’re open Mon, Tue, Thu, Fri: between 9:30am and 5pm - Wed: 10am and 4pm.'

On google the number is up again:
Customer service: 020 8036 5535
Headquarters: London
Founded: October 2014

I hope you are right don'tgive, on the reasons for the FSP. Looking at the TP reviews the figures don't encourage me but, as I've said, as part of a bigger group it could work. With an investor – and keeping on the office and staff – I don't see a reason for getting to profit any time soon (which makes me think the investor wouldn't invest in the first place).

Gosh CFAN, that was an early start to buying..

I empathise with wanting to move on. I've had a few duds but not been this deep in before with something going badly. Sooner or later there'll be times when most things just go up and I hope I'm still at it when that comes around.

GP7, the process seems to allow the bod to decline an unacceptable offer (and tell us they declined; I hope they'd tell us what the offer was!); accept and let us vote (though it would be Octopus and Paul Pindar who really decide as they hold a lot of shares) on it, or equally, someone else could see an offer and step in (at a late stage) with an even better offer.

That article said that 20% of FSP succeeded but mentioned several companies being sold outside the process, and only some going to the wall. I think a couple just about held on and continued to trade. So the precedent suggests better than 20% chance of a sale of some sort.

I'm pretty sure / certain that this used to be 10% off:

'fancy 5% off?

Course you do. Subscribe to our newsletter and get a code sent straight to your inbox.'

And there's some evidence at Vouchercloud:
'10% Off When You Subscribe to the Newsletter | eve sleep Discount'

So maybe they are trying to rein the discounts back a bit. I mentioned the cheap eBay pillows have stopped.

CFAN, it's all relative isn't it. 2p would be great now but if we got to 2p I bet it would be hard not to think 3p would be even better. (Why didn't I sell it all when I sold some at 6p?!)

It's weird, I wouldn't spend £5 on roulette but here I am, with £1000's resting on a 'gamble', whether there'll be a bid or not.

I notice that Argos sold another 5 sleep aways in the last 24 hours. That won't help the bank balance very much on its own but it does show that eve do have a few products that sell and sell, and so strengthens CC's hand in any negotiations, make eve appear more attractive.

The sleep away probably isn't rocket science but it's already got a reputation, reviews, and the development costs are in the past.

Eve have kept their secrets recently but the Simba talks did leak out and led to share suspension. Now there could be (several) new entities talking to finncap and eve and we don't know how discreet they will be.

I do have too much resting on this and need to de-risk so I hope there'll be some good news from somewhere. Holding for the moment, at this price.

Worth remembering that it's Woodford's money still (just about) keeping eve afloat.

I don't believe we will hear anything till we hear that any talks actually fail (and there could be others running along side that continue and which we wouldn't know about) or agreement is reached and announced (which might then encourage a competitor). That's what I took from the RNS. I could easily be wrong.

Wyn says charts reflect other things such as leaks (and rumours?) but not sure wyn has said that eve is big enough for charts to be as helpful.

Anyway, we all look at the sp ALL the time :)

This is a perfect time to mention https://archive.ph

Just paste this
https://www.thetimes.co.uk/article/lifes-a-beach-for-disgraced-stockpicker-neil-woodford-xjchfwh76
in the upper box, et voila!

It often allows me to read stuff behind a paywall. Sometimes you paste in the first box before searching the same link in the second box.

Not that The Times know how this will turn out.
https://www.thetimes.co.uk/article/lifes-a-beach-for-disgraced-stockpicker-neil-woodford-xjchfwh76
You can only read the opening without a sub.

'Three years on from the implosion of Neil Woodford’s investment empire, the shadow of the scandal-hit fund manager still looms large over the City. Last week two of his more calamitous investments were thrust back into the spotlight when it emerged that Rutherford Health, a cancer care specialist, was set to enter liquidation and that Eve Sleep, the troubled mattress retailer, had put itself up for sale.

Their woes were announced days after the third anniversary of the suspension of Woodford’s main £3.7 billion Equity Income Fund. And while not every company backed by Woodford through his eponymous investment firm was a dud, the struggles faced by Rutherford and Eve are a reminder that too many ultimately proved to be poor investments.'.....

There's a new page on the Investor relations page, referring to their FSP. Regarding 'Possible Offer'.

https://investor.evesleep.co.uk/possible-offer/disclaimer

I went there to remind myself of the date of the AGM as they obviously had this plan organised at that time. Fair enough, better in good time than too late.

Certainly plenty with a South Manchester / Cheshire postcode. In stock right now at Stockport or available for collection from 9am tomorrow in the general area.

Hi Dont give, I googled a London postcode (came up with the BBC / White City W12 7RJ) and Argos says I'd have to go to Argos 361-367 Old Shoreham Road, BN3 7GD to get one..

Are you sure there are any in London?

Whatever the actual position at eve (how long till cash-zero) I don't think CC would take unnecessary risks and will have initiated the FSP in reasonable time for a decent outcome. She must have triggered it a while ago, and the US investor flirtation was before that; 1–2 months ago?

Regarding them saying eve can be nimble, without wanting to do too much of a Wyn impression, I think they'd HAVE to say that during a presentation. The alternative would've been the unhelpful announcement that "we can't cope with this problem".

Sleep Away is out of stock at (at least) my 10 nearest Argos stores. Clicking the 'I'm prepared to travel' button reveals that if I can travel 43.9 miles, the 11th store has one.

Evesleep.co.uk does seem to have them. Maybe they are restricting Argos deliveries as they prefer (if stock is getting a bit low, or even if they aren't low on stock) to sell them from the eve site and keep more of the money for themselves with this best seller.

Prior to this FSP I don't think it's just me who's said this – or similar – that if there was 'a hint of a takeover in the SP will shoot up'.

I think that was true and any potential buyer would have thought the same, and so when eve was.. 4p, 5p,6p (when Simba talks were held) someone might have looked and thought 'that's a good price to takeover but as soon as I begin to accumulate the price won't be so low for long' and with a good portion of the shares still to be bought to complete the deal; almost a potential trap.

At least with the FSP a potential buyer can say what they are willing to pay (subject to negotiation) up-front and know what the final price will be. That could encourage someone to enter talks now when they wouldn't have done in the past. And as dontgive pointed out, without even buying any shares (pushing up the final price) during the process.

And if another buyer sees a low price being agreed they can always step in and offer more.

It could be ok..