Member Info for johnson36

Scully12345

If he pays £43 million (5p) for remaining shares where does the other £457 million come from to take the cost to £500 million ? I didnt think the debt was that high.

At 5p the remaining 70% would be about £43 Million. Market capital about £61.4 million. Debt in January was £286 million, I don't know the exact figure now.

john0011

Why is 5p a steal ?

What would the total cost be to MA ?

8p who decides whether or not to take it ?
The BOD ? or do they have to put the offer to the share holders to decide ? I like a lot of others hold shares in HSBC nominee account so we don't get a say on it

Ironic

I knew the 12 months was nearly up. So ok he bought some shares on the 18th April 2018 so MA needs to wait till after that date to offer lower than that buy price

MisterPositive

Thanks.

Is there a mimimum amount he needs to offer ? The highest price buy in last 12 months doesn't apply ( I think )

Ironic

Quote: If MA buys many more he has to take over at the highest price he/consortium paid in the 12 month period .

BUT Mike hasn't bought any shares in the last 12 months so how does that rule apply ? What does he really need to bid ?

"We are pleased to have agreed this comprehensive funding package which secures the future of the Debenhams business and provides reassurance for Debenhams' employees, pension holders, suppliers, lenders and other stakeholders. We have also preserved a route for our shareholders to participate in the future of the business, but this requires the support of our major shareholder.

What does that last bit mean ?

Everyone can open a short now. We have a guarantee from Deepestblue.

Debenhams advisers 'should be jailed', says Ashley

https://www.bbc.co.uk/news/business-47744335

Billygoat

He offered £100 million for that profit making part of the business. If he buys the whole of Debenhams he also buying all the debt. Close to £300 million. So his offer of £65 million is £365 million.

When do we get our 5 pence ? I'm happy with that. I bought at 4p in January.

70% of the shares at 10p would cost MA £86 million not £120 million

If MA makes an offer do us share holders with shares in nominee accounts get a vote ? There must be a lot of us.
Anything over 4p I will be chuffed to bits.

Derbyshah

But MA doesn't own 30% or more.

I am more interested to know what the rules are that apply to a bidder owning less than 30% which are more relevant in this case

Why only till 22nd April ?

Sports Direct said any offer was likely to be in cash, but added that there was "no certainty that an offer will be made". Under takeover rules, Sports Direct now has until the end of 22 April to make a formal bid or walk away.

needs to buy the remaining 70% of shares. That is 860 million shares. At a 6p offer it would be £51.6 million. At 10p £86 million. It doesn't seen a lot. How much would he also need to throw in for debt ? £100 million ? Still only just over what he was offering as a loan. I welcome his offer, anything is better than 0p.

LOL.

Jrlomax

He made a £150 million interest free loan offer for 5% equity. They just dismissed it.

Pearls

They can and will refuse an offer that includes them loosing their jobs