Member Info for johnson36

But whay should the BOD be able to just look for the best deal that saves their jobs ?
MA owns 29.7% and we all own a bit. What % do the BOD own ?

The BOD don't want to accept an offer from MA as they loose their jobs. Maybe he should make a new offer that allows them to keep their jobs. What sort of offer would involve asking shareholders what they want ?

But what is the 30% rule regarding making an offer ?

Nobody is saying Debs should sell him Mags at £100 million. The £150 million loan was a different offer.

For us shareholders I think MA offer is the best for us at the moment. What do we care if he gets 5% for free, its not even £1 million worth at todays price. He is loosing interest or dividends on the £150 million as he could invest it elsewhere. A month ago a would of told MA to get lost but now with the price around 1.5p it looks like the game is nearly over for us without him.

Daniel

I do know he is not paying £150 million for 5%.
But he is not charging interest so lets say its worth 3% interest that is like £4.5 million of saved interest for Debs, and in return they give him 5% of shares which today is worth less than £1 million. That is a cheap loan. But he wants current BOD out that is why they will not take it.

But,
he is already offering a £150 million interest free loan for 5% equity so why not just offer £190 million for the other 70% of shares at 22p ?

I know he stands to loose a lot of money, but even so I can't see him making an offer of 22p per share, totaling £190 million.

DC2007

So MA is stuffed just as much as us. Well more really

DC2007

I only have a small amount here and I will be looking at the price when trading opens on Monday.
I might sell and take my loss.
But will it be 1p or 2p on Monday morning ? No one knows

How much do you think it would cost MA to buy 21% of the shares to take him past 50%.
He needs to buy 240 million shares. He wont get that amount at 2 pence each

Looks like the only thing the BOD are interested in is keeping their jobs.

https://www.bbc.co.uk/news/business-47666249

"It looks likely that creditors will approve plans to take control of the company in return for £200m of additional financing, wiping out Sports Direct's near 30% equity stake and all other shareholders."

He said landlords would also lose out, as Debenhams would then be able to exit or renegotiate leases on its stores.

So how much equity will Debs give away to investors that offer the £200m they are seeking ? are they after a better deal than MA £150m for 5%.

So pre-pack involves us current share holders including MA loosing all our share value and the company is in effect sold to new investors ?

How much money have you invested in Debs ?

http://www.lse.co.uk/ShareChart.asp?sharechart=DEB&share=debenhams

Have a look at the 5 year SP chart and then ask your self if the BOD deserve to keep their jobs ?. All they have done is run this business into the ground. Hey, but at least they have kept their jobs and huge salaries. Even with the SP dropping to almost 1p yesterday are they buying any shares with their own money ? NO !. Mike has a lot of money in this and 29.7% of shares so with the SP where it is now I would rather have him in charge and hope he can turn things around. I would take his £150 million loan offer for 5% equity. I would not sell him the Danish business for £100 million as that is profit making. Just take his loan offer and give him 5%. From where we are now at 1.6p we don't have a lot more to loose. Only 1.6p to the bottom. If they don't take his offer and this goes into administration then us shareholders will get nothing and there is a chance he will buy the whole thing at a knock down price.

If me and you people and all the other shareholders own 100% of the campany how can the company make new shares and sell those to get some money in ?

6th March... Jefferies new broker rating was: HOLD... 300p... Im must remember to ignore them from now on

Buy is 1.8p

if the choice is taking MA offer or administration why aren't they taking his offer ? If it goes into administration they loose their jobs anyway