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@Coldspy
the email was from this address: company.secretariat@debenhams.com
Why is it so difficult to believe? They could still turn around and say that they tried to preserve the value for shareholders, however, Mike Ashley didn't cooperate.
Dear Sir
Thank you for expressing your views regarding Sports Direct International plc’s (Sports Direct) request for support for Mike Ashley (the current CEO of Sports Direct, the owner of House of Fraser) to become CEO of Debenhams plc (Debenhams). Your communication is noted.
Unfortunately you have not given us any means of identifying you as a shareholder so it would be helpful if you could confirm the number of Debenhams shares you hold and the nominee through which you hold them.
The Debenhams board continues to work hard to preserve value and optionality for our shareholders, including by ensuring that our refinancing arrangements announced on 29 March provided routes for Sports Direct to participate in a comprehensive solution to the group’s funding requirements. We are continuing to explore options with Sports Direct and will provide a further update on this in due course.
Yours sincerely
For and on behalf of
Debenhams plc
Paul Eardley
Company Secretary
I got one as well as I had not given my nominee account details when writing to them for MA as CEO.
@tu-chuzey
Yes this is what I indicated. MA is not buying the shares but he is trading his 3% interest for the 5% share valuing them at 7.33p (£4.5m interest)
Hi Pearls, MA has offered an interest free loan for the 5% stake. He has valued this 5% as £4.5m as this is the interest he will earn should Debenhams not give him the extra 5%.
Total shares: 1227m
5% of total shares: 61.35m
Amount paid: £4.5m
Price per share:£.073
Hence he is buying the shares at 7.33p. Please do correct me if I am wrong. It’s only 6:30am
Apart from the refinancing and Ashley's takeover, you have to look at the CVA and landlord negotiation as well. In all this noise, Sergio needs to focus on business as well. Landlord negotiations being one of them.
https://www.roydswithyking.com/more-high-street-brands-join-the-cva-bandwagon/
No luck with 3.38 either.. Filling some big order somewhere.
I have tried buying 500000 for 3.36 but can't get it.
Sorry.. it’s 300K. Got excited there..
Someone invested nearly £3m yesterday buying 10m shares. They must have some clues on what they are doing. Few more hours to go and we will all see what happens.
The SP is surely gone open much higher than 3P so MA can't make an offer less than that.
Sergio is safe? He is not the part of the board and previous statements said the board (MA influenced) wanted to keep Sergio focused on his role.
He wants more control through other investors and then seek a merger?
MA wants to ensure no one else takes this away from him like HMV. He doesn’t want the CVA route as this will dilute his position. He will not go the administration route either. Can’t wait to see the SP tomorrow. No wonder there were big buys today.
Why has everyone gone so quiet here? Big news!! RNS
10m shares purchased in one trade but didn't budge the share price!
Some big buys today.