Member Info for KNIGELK

The simple answer is that the terms of the borrowing facilities are linked to the profit and the ratio are probably been broken due to profit fall. So will need to be renegotiated and revised . In short banks now don't think the company will repay their borrowings and the proposed recovery plan requires initial upfront funding. That's my take on this.

You really should look back at your old posts. You mentioned a CVA as a possible outcome more than a few times. If you were still a shareholder here then surely you would want to look at ways of saving your investment? If you are now a Royal Mail shareholder now and the company proposed delaying payments to suppliers or putting up the cost of postage (again) I am sure you wouldn't object. When a company is struggling the all parties need to take some of the pain if the company is to continue. CVAs ARE happening all over the high street. Oaperchase last week so landlords in general have been willing to assist.
Btw posters moaning that shareholders will lose the lot while bondholders are repaid and company continues really should look at history elsewhere. Time after time shareholders are wiped out but the company continues. It happen with me on HIBU so don't be so shocked. Whether it's right is another matter

Well that's one RNS I missed ... usually a good sign when there is a director purchase ... obviously he is being paid too much :-)

Excellent post - yep, there has been plenty of "I told you so" posts today - most from very recent posters on this thread which is a paradox... it was obvious to everyone that the company has been struggling - they said it themselves in various RNSs before today - indeed it may be a disgrace that it took until today for the BoD to mention that some options available involved no return to shareholders.. LOL they have known this for a while ... but didn't want to say it.. not the first company to paint an ultra rosy picture (when the truth is different) and they will not be the last.
There probably will be news in the Sunday papers and next week - whatever your view - it cannot be an enjoyable weekend for 25,000 employees working for Debenhams - they need answers and a resolution to this one way or the other ASAP

Smartie2 - I am sure you would like to congratulate Metamorphosis84 on making 82 posts on Debenhams now this week - must now be top poster here :-) If only you had been here a few months ago... 50/50 on another RNS later today?

I wonder if people acquired shares here when YOU were ramping? Think about what you say ... any way 99% of us do not investing on BB comments - thankfully. Use LSE to debate - not to try to make people buy or sell because most here are savvy enough to not allow that tactic to work!

Meta - no because no own rules (if anyone has their own rules) are that I do post on ex investments - and I cannot see why I would reinvest but I am not ruling it out completely. BTW I doubt 70% of the posters on here have a short/long position now

Smartie2 - it's just that you seen to forget you were a shareholder - strange though that you are trading "safe" shares now but was perhaps to trade this higher risk company.... I have nothing more to say on the matter

FYI I have a visual issue - I sometimes "see" what I am typing but it comes out differently - I don't like fessing up to this "weakness" but I hope you understand why sometimes I don't always having my posts in the right grammar or spelling.
Look - I am just passionate about my investments - it's trying to justify my long position - but I will put my hands up when I am wrong - and it is 80% likely now this will all end up in tears. Hence why I sold today and can perhaps now be a tad more calmer and rational (and less active on here) going forward. All I ask is that Smartie2 stops the odd sniping and I will respond in kind :-)

Wy are you getting involved? Lost badly? Made money here a few weeks ago on a spike and sold my "freebees" this morning - lost badly would be if I had put £20k in at 50p - but I would actually agree with you that if you don't put in a (20%) stop loss and lost all the way down .. the word "mug" might be appropriate.
You simply don't know the history here - let me help you - Smartie2 was a shareholder and was the biggest ramper on here - then about a month ago he sold and went in full deramp mode. How do you understand the bitterness re this poster? Until the shares are delisted/suspended not everything is lost - MA is the unique factor here - so direct comparisons with Interserve are not merited at this time

I have reported one of your posts - outrageous slur - I have never spread any shxt ok? YOU were a shareholder here. YOU ramped this share until recently - so ffs own it. The only difference between you and I is that you sold out sooner (although I didn't lose £22k here).. if you stop the personal sniping so will I - if you remember I have always said this share is high risk - always said it may end badly - never advised any one to buy here.
You are be bullish on one investment (I presume you are ramping Royal Mail - not looked) and bearish on another.
If like Mega - you short shares for a living then fair enough - you will look for companies that are risky and trade/post the bear case - I have no issue there. However I enjoy investing and having an opinion - sometimes the bull view and sometimes the bear view but I never change my opinion overnight just to suit my trading position LIKE YOU.
Notice I have not suddenly become ultra bearish here just because I sold out - I am not looking to reinvest so will not try to talk down the company to buy in lower (cough cough)... focus on your investments - focus on discussing the company - and so will I

I presume that at least some of the options on funding now left will require shareholder approval? (and bondholder) So can MA still block any attempts and force administration? Perhaps MA should start sweeping up the bonds - if he holds 30% of the bonds as well surely he then will hold most of the cards??

Cannot recall if the original value of the Denmark business was £200 million or £100 million - but if the company is really acting in the interests of all stakeholders it MUST consider this cash offer - I guess the fact he still wants to be on the board calling the shots might be the barrier here... he knows if £200 million funding is secured - even if shareholders are stuffed - the company will continue to trade and administration will probably be kicked into the long grass - no longer MA will now do everything he can to stop the D4E - not sure he will succeed though

First of all I have sold - but remember I only had a small holding here so feel more sorry for larger shareholders. Right lets get down to it ..
1) SOME of the options will result in no return for shareholders - not all - so it's 40-love but not game-set-match although I will now be surprised if shareholders end up iwith anything
2) Mega - your comment really should be directed at Mike Ashley - he has been the one recently saying that the shareholders have been screwed (pardon the word) and misled by recent RNS statements - expect action from him
3) Daniel - I offer an apology for being so rude (and Mega) but remember my annoyance was that you only appeared a few days ago - you seem to think you have been here months warning us - no.. you .. have .. not
4) Smartie2 - seems like I have now joined you as an ex shareholder who made a loss :-)
What happens now is up in the air - I just want the company to continue to trade - and get to the other side of this dire trading period - for most high street retailers - the shares in the meantime should be .. suspended (imho)

Last point - you never call it wrong? As if..we all pick winners and occasionally losers

Smartie2 yes. However opinion has been all over the place. I bet 100% if somehow there is a positive development you will switch views again!! You just like being right. However I am happy to admit I appear to be wrong - off out

You would only buy the bonds at 40p if you expected £1 repayment. So bonds are probably the right investment here since ahead of shareholders. My point was clear - companies usually repay bonds then issue new dated bonds. Some companies have multiple dated bonds issued. The problem is finding the funds to repay the 2021 bonds first. .

LOL - great news share price is falling - only from a shorter. If you were that smart you would have been on here over a year and shorting from 60p

He holds 29.9% already so cannot go on a buying spree unless he makes a bid. Most companies solve their corporate bond repayment by issuing new dated bonds but I guess they have to find the £250 million first before issuing new replacement bonds. The bonds are due repaying in 2021 so I s all the other debt funding that's the immediate issue. Hence why I thought i read December 2019 re bonds in one of the articles. RNS 4pm anyone?

Ignore the attention seeker. Just read the two articles - short answer - I think they are guessing a bit. Part if one article says shareholder wipe out then later it states debt for EQUITY . Ok current shareholders might end up with a tiny fraction of new total capital but company could still remain listed. The other article mentions long term debt needs sorting next year - I didn't realise we had 2020 dated bonds. Totally accept it's not looking good but I rather wait for a RNS . Anyone else want Smartie2 suspended :-)