Member Info for FED1

Paulleydee,

It is unlikely that Frasers could force a takeover of 100% of equity as it won’t be able to get 90% - even at 60p.

It may want to make Boo a subsidiary of Frasers and get 51%. It would need to offer at least the highest price it paid in pst year (52wk high is 42p). I reckon it would need to offer at least 50p to get anywhere near 50% and then that may not be enough.

I think this is a reasonable scenario if he believes he is going to lose Debs.

Bfd,

We have different views. You are evangelical about Kamani. So much so that some posters say you have Stockholm syndrome. The interims were terrible. Yet you shout the loudest at anyone who states facts. You cannot defend Kamani so you attack Frasers.

My agenda is transparent. As is yours.

My Agenda

1) I’m voting for Frasers because I want to shake things up

2) Kamani controls the BoD and BoD are ineffective and weak

3) the results are awful

4) the BoD have been belligerent to minority shareholders

5) it is nonsense to suggest that two new Board members could somehow force Boo into administration or steal Debs (tin foil hat brigade)

Bfd, I’m not going to engage with your post. I think I am clear I’m posts without further explanation.

Yes to Mike Ashley and Co on board - they are big hitters

Yes to Kamani’s remaining on Board

Yes to Dan to remain as CEO

We just need a heavy hitter chairman to manage the egos.

I see this meeting as a message to the BoD. A vote of confidence. A message that the last results were terrible and they have been belligerent to minorities. I want to balance out the power on the BoD. I am fully aware of MA’s self-interest but I think we are aligned with him in bringing about change and installing a BoD which is more accountable.

I suppose the reason for the increase in negative posts from shareholders is because we actually have an opportunity to send a message to the BoD. This is rare. I am concerned about a return to status-quo.

I just thought, that the cost to borrow to short Boohoo must have increased as shareholders recall stock to vote?

Anyone got insights into how Schroders and Camelot will vote.

It seems retail investors are divided.

I agree that both parties need to provide more substance for their strategic vision.

It looks like it will be close. Suggests we could have further developments next week.

I note there was no insider buying this week. Leaves it open for an impromptu trading update for last fiscal quarter.

I think BOO would be better served by a strong independent Chairman who has the pedigree to manage Kamani and Ashley.

I think Board will keep Dan as CEO. I think Board needs to carefully consider the long term value of business when considering realising value which may mean keeping Debs.

I see no harm in having Fraser on Board.

I think Frasers called the meeting to stop Boo offloading Debs on the cheap.

Admittedly Boo and Fraser’s have history and it would be unlikely that Frasers would be able to get Debs from Boo.

Nope.

I just looked at the Boohoo FY24 report on its website and repeated its guidance.

Whilst adages may persuade some, I actually need to understand how having two extra board members will enable Fraser’s to steal assets from Boo?

I have seen some ridiculous posts suggesting that Frasers has a strategy to buy a large stake in company, then drive it into administration so it can buy it cheap from the liquidators?

This is a vote of confidence in the current board and its executive vice chairman.

No issue with Dan.

A reminder of current mgmt team

1) told investors in May that we would return to profitable growth in FY25

2) told investors in May that we would have positive FCF in FY25

3) told investors in May that after a heavy capex cycle, we are about to benefit from having a US distribution centre

4) told investors in May that we will have a Capital Markets Day in due course

5) scrapped quarterly reports and was a month late with interim reports

6) net debt increased be c£50m in six months to August and it had to issue new equity to bolster balance sheet as creditors didn’t want to rollover

Now that an activist investor is involved, we are now being courted by same management team.

Whilst I am pleased with recent move in share price, I do believe that existing mgmt hs treated minority shareholders with contempt.

I believe Frasers will bring balance to the BOD.

The cash flow statement is interesting. Although FCF positive, its investment in listed companies gave it negative cash flow.

Post history means nothing

Stops being an apologist

We have all lost money.

I’m voting Mike 🖕

I’ve been involved a bit longer sweetheart

i’m a professional investor. lost my ass on this ****.

Ask yourself two questions:

1) how did the BOD treat you previously?

2) how does the BoD treat you when an activist investor gets involved?

I want an activist investor involved.

Frasers cannot steal Debs if you vote for the resolutions.