Member Info for FED1

I would start with a discussion on this message board but one member is putting everyone off

This means we will not get a trading update now before EGM. This implies trading conditions for Boo have not improved.

Ojogger - this is a view.

I cross-referenced the letter sent by Boo dated 10 December with the letter from Frasers. I think it strongly implies my assertion.

It shows Kamani is worried that Frasers will go for 51% and he will be kicked off Board and out of company. It also suggests that Frasers may entertain a deal regarding Debs or a takeover offer for Boo.

https://otp.tools.investis.com/clients/uk/boohoo/rns1/regulatory-story.aspx?cid=798&newsid=1892199

https://boohoodeservesbetter.com/letter-121224.pdf

1) Boo has historically done connected party transactions with the Kamani family.

2) Insider buying is good for the share price.

I think what is telling about Frasers letter is that they do not really state what undertakings that he is refusing to sign.

It seems it is the undertaking that Frasers should not bid for any Boo assets or acquire anymore Boo shares.

I do not think this undertaking is necessary.

The fact that management has not given up an impromptu trading update (yet?) in the middle of a proxy battle suggests that operationally, things have not improved since 1H.

Drapers said that Asos has excellent conversion on Black Friday and Inditex reported a strong start to the golden quarter.

IF revenue falls 15%, then you need to reduce costs by 15% just to maintain margins.

This isn't efficiency, this is reducing the cost base to reflect the lower revenues.

i’m outta this **** past 50p

SCB,

This morning I had four flyers from Boo. Two for me, two for my partner where I invested in Boo without their consent.

It was delivered next door. My partner ask what they are. I say nothing important.

I’m then told to sell BooHoo.

I heard that 15yrs ago, and it stuck with me.

Big Mike on BoD would be beneficial in my opinion.

To clarify, he was FTSE350 CEO. Not FTSE100

I once worked for a CEO of a small FTSE firm. He had a lot of NED roles of other companies and a few chairmanships.

I overheard him say once that his role was to be a “mallet to crack a nut” in a boardroom.

I respect that choice Bfd.

That is an excellent question SCB.

The answer is they don’t believe in company. They are paid by company.

Bfd,

I suspect most have voted now so it’s all moot.

If Boo gave a peak trading update similar to Inditex, then I may revote my shares

https://www.drapersonline.com/news/inditex-peak-trading-sales-up

Bfd,

With all due respect, SCB point was to focus on Kamani’s track record.

Bfd,

I dont think any serious poster on here is naive enough to think that Mike Ashley is some sort of silver bullet to Boo's operational woes.

However, given the lack of direction and flip-flopping strategy, a bit of tough talking over the Board room table is needed.

Both Glass Lewis and ISS have a proxy voting service.

Not only do they advise institutional shareholders how to vote (research), but also have a platform where institutions can vote the shares. They may therefore have a heads-up on how institutions are voting if they are voting their shares through their platform. They wouldn't want to be on wrong side of this so will issue a recommendation inline with what they are seeing.

The shareholder advisers could be indicating that the majority of institutions are voting with management, and against Frasers.

Just a thought ?

I think everyone is happy to give the new CEO a chance as Glass Lewis suggests. Even Frasers are alluding to that and do not have the ability to fire him in isolation.

There are concerns over incumbent BoD. That is the shake up I personally want. Agree Kamani and Frasers are not a good fit. But Kamani has not exactly been a good fit for my brokerage account.

I appreciate the sentiment Tigertouch.

Shareholder advisers are off the mark and are implicitly supporting a badly run company with poor corporate goverance.

There is anger among retail investors and their lavish lifestyle on social media doesnt help.

Yes Frasers may be tapping into that anger, but I suspect all investors are angry.