Member Info for Hexam

*increased their holding in % terms

Oke - the full £15m has been successfully raised and the ‘cornerstone’ investors have not picked up any additional shares to those proposed so they haven’t increased their holding.

“In essence, to all intents and purposes, they have purchased the business.”

How do you work that one out? Looks like Debs are spending another £4m+ cash just to maintain their share (nearly) in a heavily diluted business.

“Let's be clear and honest (some can't be of course)

FG said, news by end of Summer”

Did he say that? He mumbled something about revenue after summer but where did he say anything about news by the end of the summer - or are you just being less than ‘clear’ and ‘honest’?

Yep - This from the interims:

"During the 6 months to 31 August 2024 the Group repaid £50 million of the Revolving Credit Facility. Our net debt balance (cash less bank debt, excluding lease liabilities) at the period end increased to £143.1 million (2023: £35.0 million net debt). The closing cash balance for the Group was £131.9 million."

SCB - Cash position is not quite that bad as they only burnt through £48m in H1 (as another £50m was simply loan repayment) and a further £28m in the last six months of the financial year. So £76m across the year, or around £6 to £7m a month with an improving trend.

Assuming that trend has continued they might have £75m or even as much as £100m, or more, of cash now depending on how things have gone in the last six months - but that's still not a lot a headroom or enough to go on a spending spree in my view without selling off some assets - which they could well be trying to do.

Hopefully the much delayed report will give some update on cash since Feb and a realistic outlook (not the kind of over optimistic one they've had a tendency to give lately).

Yeah, with great big sacks of money on their backs with all the profits that they've made. Delusional.

"Deadline to file accounts could easily have been extended with a valid."

Seriously? They would have been suspended (and still will be) if results aren't released next week.

Nutty predictions aside I think this news of funding is good news, despite the high interest rate, as it secures their future (for now) which looked very much threatened without it.

It's just a shame that the RNS was written in such a smug, self congratulatory way, ramming it down our throats with every superlative how amazing they are (despite the need to go cap in hand for such expensive funding and with the sp near all time lows). And then to sign-off by saying the results will be released before the end of the month without giving a date. Surely they must know now what day they are going to announce the results if there are no more obstacles?

Just plain amatuerish.

"Schrödinger's refinancing here, last week, desperate for it, this week, proves bankruptcy."

It's the same point - which you're still missing!

"Yes 33% from here perfectly possible"

Nope. Not in a week unless they release amazing news ahead of results. Whatever did happen to that 100p before Christmas (and before you disappeared)?

You misunderstood my point Northern. I agree that they wouldn't lend the money unless they thought it was wise to do so, so that is encouraging but that doesn't mean they weren't close to bankruptcy without it.

"Rubbishes a few comments on here in the past few weeks that this is close to bankruptcy"

Not necessarily - the penal interest rate suggests it may indeed have been close to bankruptcy and needed this additional funding to avoid it. It has bought them time and now they need to use that time wisely.

Should be above 20 ahead of results?

So a near 50% rise in a week? 'Good' to have Happy back with his ridiculous predictions (still waiting for the 100p by Christmas).

Oke - tbh that seems a far fetched scenario especially as Boo wouldn’t have first dibs on the assets if Revb went into admin any more than Ashley would have first dibs on Boo’s assets if it went into admin. Also Boo is in a poor cash position even if it gets the extra funding and could easily be outbid for the bones of Revb by other predators (maybe even Ashley for a bit of payback for Debs)?? Surely the last thing Boo should be doing at the moment is flashing the cash - unless it can sell one of its own assets first.

In any event I thought there was already a sales process at Revb with one bidder - and not Boo? I would think that would appeal to its lenders (and shareholders) more.

Yes Crawshaw they could just to that, which is effectively what I meant by putting in a provisional, cautious figure - though I don’t think they need to be quite that cautious!

There are lots of possible reasons for the continued delay in results, many of which have already been discussed. It could though be simply because of the audit issue at RevB and the late change in their results as what they report directly affects what BOO reports (both assets and profit) as RevB is valued on a look through basis.

I don’t think they would let the share go into suspension just because RevB are late in reporting (as they could agree a provisional, cautious number with the auditors) but with the RevB adjustment now agreed both can now report accurately - and just in time.

Who cares? This is the LSE board.

Worked buy? It doesn't look like a buy of any kind at that price but even if it was it, along with all the other 'worked buys', 'big buys, they must know something' and every other like claim that is regularly made here hasn't made a blind bit of difference to the sp.

The only things that will are receiving the court award money, a deal or a strong rumour/suggestion of a deal. The rest is noise - and too much of it.

“1️⃣ “Boohoo is rebranded as Debenhams PLC” – Complete lie. Boohoo owns Debenhams as a brand. The listed entity is still Boohoo Group PLC (BOO.L).”

Well, the list doesn’t get off to a great start. They HAVE rebranded as Debenhams. What they weren’t able to do (though they wanted to) was change the actual company name so the holding PLC is still Boohoo but they now refer to themselves in every other respect as Debenhams.

Couldn’t be bothered to read the rest after that.