Member Info for Ejackson

Thank you Skindle. I wil bow to your superior knowledge on the trading side, its not an aspect I understand. Did you come to any conclusions on what happened? I agree there is a pattern with our cousins in the US buying over here and the ability for them to raise finance has been and for the moment, remains favourable. I also researched Roger Siddle when he joined and prior to his involvement with BPP he was highly regarded as MD at Bain Capital. He had a proven track record of identifying distressed businesses, turning them around and selling them on at a profit. If I was being cynical for a moment, it is a possibility that he felt he had done the job at Findel, wanted to sell out and take a handsome sum for his efforts, but the board / David Sugden chose a different path. Since his departure, I think only one non exec has left otherwise the board remains unchanged.....if there was disagreement or a split amongst the others, they would have departed a while ago and the likes of Sports Direct would really have had the opportunity to steal a good company on the cheap. Perhaps we should extend our thanks to David Sugden for achieving this but as you have probably gleaned, I am a supporter of Mr Siddle and since his departure things have gone south somewhat so this thanks is, at the moment, a little bitter sweet. Many of the board have significant share holdings, some of which have been bought at higher prices than todays so, I would like to believe, they will not only act in their own interests but ours too in getting the shareprice higher or agreeing to an attractive takeover. François Coumeau is an interesting chap and with his European experience and contacts, I hope is earning his corn in getting the little black book out as I am firmly of the belief that David Sugden, in stating at the time of the Kitbag sale that there is no need for a CEO, has put us up for sale and it is only a matter of time before we hear something.....no shareholders are rushing for the exit door at the moment and selling, indeed the recent egm has demonstrated a total and unified shareholder base (with the obvious exclusion of SPD) so patience is what is required and I am putting my trust in our major shareholders and the board that a full and fair price is paid at the end of the day.

We have held firm at this price for sometime now. It would be nice to believe that there is more news of large contracts being signed around the corner. I agree with all the comments that it wouldn't take too much to move the shareprice to 10p +.

Dear All, I have to confess that I have been watching from the sides for a number of years but have now taken the plunge to join you in your observations on this fascinating share. Having been invested in Findel for longer than I care to admit, it is fair to say, it has not been dull but we owe a huge (I will try to avoid the word debt...) amount of gratitude to Roger Siddle and his turnaround skills to take us to where we are today. I do confess to being very concerned when he resigned and I couldn't fathom why he would leave with the job only half done....he was motivated, had share options for milestones reached so something significant must have happened to have changed his chosen career path. What is done is done so no point in trying to get to the bottom of this, however, the vacuum left behind, the continued belief that we don't need a CEO to drive the business forward and the recent actions of Mike Ashley lead me to share Skindles view that we are now in the shop window (no pun or sense of irony Intended) trying to entice a willing suitor that will offer an attractive enough premium to our major shareholders to exit with a decent profit. I cannot believe that these investors are not busying themselves behind the scenes having quiet words with the right people as to what this price would be to gain their support as without dedicated leadership, I don't hold too much hope that we will see the sort of annual compound growth Roger Siddle engineered. The only hindrance that I can see is our Educational business which, not dissimilar to Kitbag, has been a consistent drag on progress and difficult to see how it can be turned around with the lack of future visibilty. Maybe there is a buyer out there that thinks differently and is prepared to make an offer...more debt reduction and a very attractive online business left behind with strong cash generation waiting to be be given the sort of proper retail asssistance that Mike Ashley was allegedly looking to inject but we all saw through as a simple asset stripping excercise. Interesting times and with all the market turmoil of the past week or so, it is intriguing that we have traded in the range of 1.90 to 2.00.....none of my other holdings, bar Vodafone have held up anything like this. I must stress this is not a challenge to Market Makers! Not long to wait for our board to report again and we will learn more but it wouldn't surprise me if we didn't have some corporate action to discuss before then, as Skindle has suggested already, but who that suitor is is anyones guess and will probably surprise us all. With the likes of Ocado supposedly drawing interest and Sainsburys recent actions, there does appear to be an appetite to buy good online businesses with excellent distribution centres.....perhaps a window of opportunity to explore and depart with your head held really high Mr Sugden following your spirited defence against Mr Ashley on our behalf before Christmas. Best wishes to you all.