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Garydiv
When you make statements like that it'd be good if you could back it up with actual facts. Can you please elaborate on "too much debt"? How much is too much and how much are they actually currently owing as of January 2024?
Almost all companies have debt. If they can service it or refinance it then there's no problem. Look at CCL for instance. $30bn in debt with revenues of $21bn in 2023. Company isn't in distress and the SP doubled last year.
Nothings changed mate. Whilst there's no news the SP is always gonna drift as time passes by. People don't like uncertainty.
For me there's two ways to look at it.
1. If an offer was dead in the water it would have been announced by now. This can only mean he's still working on an offer.
2. If no offer has been finalised by now then he must be struggling to finance it and the longer it goes on the more likely there's no deal.
As a bull I believe the first option but of course I could be wrong.
Next SP is up 6% today after they beat expectations. The numbers are very impressive. Total year sales up to £5.8bn with a 5% increase online to £3.2bn!!! Also 5% rise in profits to £918m.
I've said it before and I'll say it again. With an mcap of £11.5bn Next could swallow us up in a heartbeat and integrate the brand seamlessly both instore and online. They've made no secret of the fact they want to acquire more brands.
Bucketman
Dean had suggested that JD could make an offer to the board and the board not disclose it. This can't happen all offers must be disclosed.
Also something worth noting, regarding any offer made on the final day (29th) which is a Good Friday. My understanding reading the code is that the board would have to inform the markets by 12pm on the next working business day. I'm presuming that would be Tuesday 2nd.
Fill your boots.
https://code.thetakeoverpanel.org.uk/code.pdf
To think Superdry had £12m a week revenue last year and it's come to this with a mcap of just £23m is almost unfathomable to me. How the board could f*#k this up is so much criminal. It's not rocket science they've got an internationally established brand, supply chains, distribution and retail already in place. It's good quality clothing and it's not expensive. How hard can it be?
Sorry highest offer within the last 12 months not lowest. So currently 79p according to the Director deals shown in this website.
"Requirement for a mandatory offer: Where a bidder is interested in shares carrying 30% or more of the target’s voting share rights, the bidder must make a mandatory offer in cash at no less than the highest price paid during the preceding 12 months (often referred to as a "Rule 9 offer")
From what I understand if JD hits 30% he must make an offer no less than the lowest price he's paid within the last 12 months. According to Director deals shown here that would be at 76.30.
04-May-23 Buy Julian Dunkerton 76.30
Have I got this right or wrong?
@just
I'm happy to answer sensible questions mate and give my thoughts. No ramping or deramping from me. Just facts as I see them.
Anyway that's me for the weekend. Have a good one boys and girls. Roll on Monday and another blue day.
Morning Bucketman,
With a FTSE 100 or 250 share I'd think a board like this could have little influence. With SDRY the volumes last week were so low it only takes a few PI's to become spooked and sell up and it can influence the SP. When Toffers sold 400,000 shares on Thursday that had a massive influence on the SP and she only sold because she lost her nerve after all the trolling on here.
The message from me is clear. If you're long, stay long nothing has changed. Patience is the key.
The shorters in here have done a really good job at getting inside people's heads. At the end of the day nothing has changed since JD announced his intent to take the company private. Don't let them get in your head and stick to your guns. Just remember why you bought the shares in the first place and remember nothing has changed. Nothing, nada, zilch!