Member Info for Hexam

“How is the company buying shares on the open market ever be dilution”.

It’s not. I never said it was. Please read properly.

"So should I assume that you agree with southcoast's incorrect statement about PLT revenue and you also agree that the EBT doesn't buy it's shares on the open market?"

I don't know if EBT have bought all the shares held there on the open market as I haven't trawled back through all the increments. Even if they have that just replaces one bad thing with another - dilution with using company (i.e. our) money to purchase shares even when they were making losses (nearly £100m of purchases in last 5 years)!

As to PLT I haven't read through all of that (was away for the weekend) but PLT looks like it is performing badly with UK sales down 9% last year and turned a loss. Overall PLT revenue is hard to judge as reporting of US numbers changed (if numbers look bad, change the reporting - a favourite trick, see also GMV). In fact little of the individual company performance can be compared with last year directly as not only did the US reporting change but most of the labels are now reported under Debenhams which itself was split into two).

Therefore best to look at the business as a whole and revenue (down 17% last year and down further 15% at half-year), cash loss (£100m last year and another £50m loss at half-year) and loss before tax (£160m last year and another £147m loss at half-year) tells its own grim story. There is no dressing it up (though of course they have tried to).

"They would to you Hexam because they were your waffle"

I think others replied mainly on that one actually but hey ho.

“Just a load of pointless waffle.”

Tut tut! Projecting again.

The explanations seemed reasonable to me but it’s just more convenient to you to dismiss them out of hand. No point in anybody repeating them or wasting time trying to debate them with you.

“I'm still waiting for any of you fair market believers to explain how an sp drops 20% when Frasers buy 4% of the business in a fortnight, when there is no news and the market was flat or slightly up from memory”.

Explanations were given, you just chose to ignore them or to simply pretend they were not there.

"Its not panto season."

'They've developed grand-breaking technology'

'Oh no they haven't'

Basically that sums up the exchanges on this board for the past few years. And probably the next...

"Shorters algo trading isn't market manipulation...Who else can or would time multiple algo trades in the manner we saw this morning, causing a significant sp fall which has now largely reversed."

What you describe there is clearly manipulation. You do seem to enjoy tying yourself in knots. No proof either that it has anything to do with shorters - just you blagging it as usual in that superior and complacent tone that you hope will convince everyone that you know what you're talking about and that everybody will just believe you. Newsflash, they don't. Maybe they did once upon a time, but not anymore.

“Interestingly, it took him just 26 minutes from market open to cry manipulation today, is that a new record?”

Very much doubt it. At least he shared his compelling evidence of manipulation this time - which wasn’t compelling, or evidence.

So I was right, it was Nashville, and this was the ‘invitation only meeting’? Oh my.

Don’t hold your breath.

I was never talking about the EBT. SCB simply complained of more dilution, you in your ongoing quest to talk down to others at every opportunity insisted that there has been no dilution but the RNS clearly says otherwise.

“We all know we will be getting some update this week.”

One to remind you of come Friday.

“so there is no dilution”

…(again) apart from the 275,000 new shares that the RNS says has just been issued.

"There is no dilution"

...apart from 275,000 new shares being issued.

“Working for a few quid from home posting meaningless information and lies on a bb of a Company you know nothing about, must look impressive on your C.V.”

Is that why you do it then?

All well and good but they are targeting chip manufacturers not miners and by far the biggest one is Chinese.

There will be no bidding war between the miners - as at this stage they won’t be bidding at all.

Do you ever tire of writing such complete and utter nonsense Sharebel? All day, most days on whatever share you just happen to be pumping for that week or so.

With your record you can’t be making any money from it if you really are trading so there must be some other reason?

One thing at least though is that a LTH you are not and one way or another you’ll thankfully disappear from this board soon when you move onto your next victim stock - Heaven help them.

Most of the brands may be making losses but that doesn't necessarily mean they couldn't fetch a surprisingly decent price. Depends on what a potential buyer things they can get out them. Plenty of loss making companies, or parts of companies, get sold for more than they look on paper - after all I doubt all of BOO's own purchases have been of businesses in the pink (though I haven't checked)?

Whether they can get as much as £150m is another matter but I don't think they need quite that much anyway. We should get a much better Idea from the next set of accounts - not only what the cash position really is but also if there are any concrete signs that it is improving.

In any event part of their current woes seems to be due to how bloated they are with too many underperforming parts so I think some offloading is coming whatever the price they can get.

"RKB who's knowledge of CLP and QBT are second to none."

Then how come he gets so much wrong, so badly and so often?

"Anyone else think there is a 150 - 200 million cash raise coming??"

Not me. I do think they need more cash and they are being squeezed on borrowing options but I think a raise is unlikely.

First, as it would look so bad, bordering on desperate, to do another raise so soon after the last one.

Second, it seems everything is being geared towards brand disposals ('strategic review', 'unlocking value' blah, blah, blah) and that seems the likely route to me for them getting some much needed cash - with the recent modest raise (and HO sale) just being what they needed to give them the necessary breathing space ahead of this.

I didn't mention interest rates, just the margin applied above them.