Member Info for KNIGELK

Sain@vision, the media loves their misleading headline. 200 stores leases are up to review over next two years - not 200 stores to close. It's around the 60 mark.
As for Debenhams - concessions will be hit hard in any closures. Not discussed here yet. No RNS can be seen both ways. I reckon a RNS before 8am is likely. No idea how this will pan out but not hopeful for shareholders

I think some here need to read back the full story here ... MA makes an offer of a £40 million loan... comes back with an offer of £150 million... comes back with an offer or £100 million (or whatever Debenhams values it at) for the Danish store ... comes back stating he might make an offer of 5p to shareholders... can you see the pattern here?
If he was simply going to wait for pre-pack administration (presuming there's no equity left) then why the heck has he bothered with all these proposals over the last few weeks?!!!
Is he really the type of guy who admits defeat - departs with his tail between his legs ... and backs down? Nope - he wants Debenhams .. and so I will be surprised if he didn't make an offer not the other way round... as evidence .. look at Findel - he wanted it.. he is going to get it..

Try selling 29.9% in a day or two - would be virtually impossible - should cause the share price to tank - and would give out the signal shareholders would be wiped out. I suspect it's difficult for any holder over 5% to sell out immediately... not sure if the same applies to shorters who want to close all of a sudden...

That's why he has already suggested 5p will be his offer!!! 50/50 imho

See another negative.. "wait for admin"... excuse me - but that won't happen if the D4E and/or CVA happens - ok some options mean shareholders end up with zlitch (with I think is what you meant) but not all options and admin I presume only happens now if no deal is agreed? Both long and short now here are high risk positions - either the share price will double or go down to zero - I think everyone knows the score - MA is the big unknown

You just can't help yourself.. look at the positives for a change...(not that there are many).. "our fate hands in the balance of a multi-billionaire who has a track record of making acquisitions".. it sounds a bit better doesn't it?

Ironic - if I hear Flybe mentioned on here again I will scream!!! I didn't realise Debenhams flew planes? :-)
Every case is different - here it's different sector - debt - bidder - outcomes... so some parallels but not that many!

Pearls, last point before work - so why do some of the options being considered involve no return to shareholders? The BoD cannot demand X price considering some options value the company at nil share value re exchanging debt for equity

Not correct ..shareholders give a hoot. Agree whether MA bids or not .. 99% of us want the company to survive. It's how the BoD achieves this that's important. It appears they want to save their own skins than allow MA in. That can't be right. ..

Daniel, what has caused the default? Rent has been repaid. Bonds due 2021. I really still see this all being "rushed" to lock NA out. What happens if he makes a formal bid today? Can the BoD just continue regardless in D4E. This could become unique?

I see the troll is still here. Tumbleweed? If that's what you call 600 posts and 8 RNSs yesterday as tumbleweed you really have lost the plot. We shareholders? Since when did you buy back in?

You will have to ask the private holders of the company 2005-06 time why they did it - probably to squeeze every last drop out of the company before sending it back to the stock market in a far weaken state that when listed previously... 25 year leases - increasing year on year - whatever the property rental value - madness now - perhaps logical back then? When a company is making £150 million per year - perhaps these small issues don't seen important - so in some ways the current BoD are not to blame for the rental issue - we can blame them for everything else like not having rights issues when the share price was 50p or talking to the lenders last year etc etc

Right lets get this sorted - why are you so negative - what is it that you actually want to happen here? Are you shorting? If not - then surely you want this resolved - funding sorted - and best case shareholders maintaining a stake? Not saying this will happen - but I repeat WHAT DO YOU WANT (!!) TO HAPPEN HERE?
I have never come across such a bitter poster on LSE ever!!

The other BB states that SPD demand a response from Debenhams by 2pm today (not sure were they got this info).. but I don't think we are going to wait long for an answer one way or the other. BTW some need to read up recent RNSs.. it's not definitely game over on Friday as SOME I repeat SOME of the options being considered will result in shareholder wipeout. Perhaps if Debenhams can come up with a solution that allows shareholders to maintain a diluted stake - it will be enough to fend off SPD? Smartie2 - stop it please!! Some might have made 110% from the low - while some have been able to exit with a return - be happy for THEM even if not for YOUR SELF

Sorry if the answer is simple - but why are we getting all these form 8 RNSs when an offer hasn't yet been formally tabled?

At this point I would argue a short position is just as risky as a long position as you are right - now it will either go to zero or 5p plus... didn't realise shorters were such risk takers..

Not sure - if SPD makes a form bid at a premium I would imagine they will reach 50% of the share issue literally (via acceptances) in a day.. the BoD would be irresponsible to just carry on the debt restructuring regardless if a bid materialises especially since rent has just been paid - bonds are due 2021 - and facilities are already in place! It's just their desperate way of stopping him getting his hands on the company (trying to secure new arrangements now). Of course the banks/lenders might want early resolution but SPD will be able to offer alternative proposals and probably quicker settlement of outstanding debts. So who is going to refuse his offer (IF he makes it) ..just the directors??

Seems a bit like Brexit - check mate.. so simple solution - make a bid - perhaps at 5p or a little higher - get over 50% - make it manatory - then MA can simply make himself CEO - problem solved.
My issue is whether his earlier promise holds true - he said he could ensure separation from HoF - not sure how that is possible if SPD owes both HoF and Debenhams - he is the largest shareholder in SPD. I presume he will have to step down from any other responsibilities and just become the CEO of Debenhams - reporting to the SPD BoD ???
At 3.5p there is 40% upside IF IF IF you think a formal bid is certain. I reckon 70/30 but not worth putting your car let alone you house on it.

Fair play - obviously it hasn't happen yet but the share price should rise a little today! Didn't realise you had shorted this earlier .. just thought you were a recent shorter but although I would never short myself - it was clear there was a case to short here from 50p down... GL elsewhere

Jed - SPD went hostile over on Findel so not sure the BoD have to approve accept MA probably needs guarantees that they won't do a D4E become any offer becomes mandatory... it's really a game of cat and mouse - the BoD will need to come up with a really good reason not to accept an offer at a 127% premium - especially as SPD will be in a financial position to resolve many of the financial issues for Debenhams. So my guess is that if the BoD decline his latest proposal he will go hostile on Friday