Member Info for KNIGELK

Seems like you will be accepting a heck of a lot of humble pie...I will start.. I really didn't think MA would bid (on he hasn't yet) seems like he really WANTS Debenhans

Wow sorry shorters but you probably will be burning in the morning. No price mentioned but I presume it will be 22p? :-)

One last thing - since I am now on full rant mode - Debenhams is not my company - perhaps you should actually read my posts as well!! I work in retail - not shop floor - just have historic connections with the company - my job isn't 100% safe (most jobs aren't in retail) - but nothing to do with Debenhams. TBH you should want MA to takeover - he has deep pockets - and it will be a lot harder for Debenhams to suggest a CVA when the backer is worth billions - it's easier to argue the case I would suggest if you have £300 million debt and will go bust without a CVA

BTW as I explained a week ago - I have a visual health issue - I actually "see" what I am typing but they come out differently - agree maybe the answer is to stop for a minute and re-read the post - not always possible with the crap smart phone I have but there's no need to pick me up on it .. I KNOW

If that comment was directed at me - no need to get nasty - Debenhams isn't the first company to try to achieve a CVA nor will it be the last - Paperchase completed a CVA recently (I read). I simply asked you if - since you are involved - you could tell the thread any news on the CVA talks - no need to get defensive. BTW I still post on MTV - the thread is still there after years of suspension/delisting - whatever happens to Debenhams this forum isn't going anywhere - it will just become dormant (in time).. BTW landlords need to decide - agree reduced/fixed rent or have no rent...

or.. sensitive lol

Sorry - so much activity here it's hard to keep up - I knew you said you were connected to the sector - my point really was whether you should be telling us - I guess it's not sensible information.. (only if you had not been paid)
So .. any news on a CVA? :-)))

Obviously you are one of the landlords/agents?

Tell me if I am wrong - but I recall a case were the major shareholder or 3rd party simply went over the heads of the BoD and made an offer/proposal directly to the shareholders? (perhaps via a SPD RNS).. I know it's mad but I wouldn't put anything past MA

It was a daft thing to say - he is the largest shareholder in SPD - and SPD own HoF. There has to be some conflict of interest. MA should just buy Debenhams and merge it is HoF and then wait to see if the competition commission have a view. BTW there's only so many brands which you can stuff full of Sports Direct items..

It's not just posters saying "They are not acting in the best interest of shareholders" .. it's MIKE ASHLEY who is also a shareholder. This situation is a tad unique - there is a shareholder making various offers of funding to the BoD - granted with strings attached. If the BoD really wanted to be shown to be working down the straight and narrow - put his offers and the alternative offers to the shareholders (ex MA) and see what they vote for. Indeed put his offers to the bondholders and see what they vote for. The BoD have a duty to TRY to work for all parties involved - including the ones who put the money in originally and were always there if additional funding was required over the last few years - it's not shareholders fault that the BoD decided to borrow instead of asking for more capital is it!

Can I make a point to the new posters today - DYOR. There is a clear reason why for MA it is not a workable solution - if there is a D4E or equity wipeout he no longer holds 29.9% and has any ability to control the situation. Also if it's total wipeout - after funding of £200 million is secured - it will be a new private company - and trading for the foreseeable future in a far stronger state ie. MA will not be picking it up in any administration any time soon! In short - he won't be getting his hands on Debenhams and shareholders will be wiped out. (not with all current options though). So no wonder he is offering a loan - offering to buy the Danish asset - anything to control to hold 29.9% and have the ability to bid once the share price he can make an offer is way lower - under 10p at least.
Saying this - he has a point that the directors are not appearing to work in the shareholders interest - because he is the main shareholder and others are caught up in this..

LOL shall we make a deal? I will stop posting if you stop posting. In fact when you sold out your posting speeded up. I am not ruling out reinvesting depending on developments.
I will stop the personal snipes now as it's fair to discuss this complex situation instead. Remember there are shareholders still posting here and they are like MA being locked out imho

Smartie2, the BoD could have invited MA to talks with the various parties. They want the debt restructured and repaid. He has the cash. Problem solved. You are right that this may be arranged before he can take action but the BoD need to work for all parties and should consider whether they want long drawn out legal action on them at a later date. Just talk to him!

Franalex, excuse me but understand some of the posters concerns. A few posters like you only appeared recently and it's too late in the day to help the shareholders on here. The advice would have been helpful weeks ago. Your advice now can only help in relation to posters avoiding similar situations although sometimes problems happen without warning like over on PV

As long as the funds are available to pay the rents this week, I don't see the urgent need to secure the new funding unless it's just to stop MA gaining control. The BoD need to be more open about why now re refinancing, why they are not being more constructive with their largest shareholder and why they never asked shareholders for funds last year. This isn't Interserve (a recent example) as there is a major shareholder worth billions wanting to help excluding his longer term intentions. For shareholders MA is now the good guy and the BoD the barrier

Actually I do take this medication and over the last four years my attacks have been few and far between. It doesn't stop gout just reduces the numbers and the pain. Thanks for asking

I don't work for Debenhams but for another retailer.. if the situation doesn't improve for the high street your question may happen to me at a later date. So annoying because I am four years off early retirement so hoping for to hang on until then. As for being on here this weekend. Stuck home with gout so been online a lot. Not much sport on either...

Not always see Mothercare. Its the refinancing that may wipe the shareholders out. It appears both a D4E and a CVA is needed now. The company doesn't have the luxury of picking the less painful option. Debt needs to be cut. Rents need to be cut. Shareholders best hope now is MA pulling out a rabbit.. and to think a few weeks ago I really hated the guy :-)

Billy, one of the RNSs on Friday simply said that some of the options being considered will result in no return for shareholders. Too vague isn't it?! Could be 3 options out if 6 were shareholders still have a small stake or it could just be 2 out of 8. Hopefully it will become clear this week