Member Info for KNIGELK

We will have to disagree - you as a shorter want to paint the worse case and I as a shareholder want to paint the best case - I think this is clear. (why short at 3p is beyond me - or if you shorted at north of 10p why not bank the profit? Greed isn't good)..
Bonds - Debs have two years - a lot can change - I have seen countless companies issue new/replacement bonds - obviously it will be better if other issues are resolved - also I am sure I have seen EGMs were bond holders have agreed new terms or extensions - CLP is one - perhaps not possible here due to the bond terms but I am sure the BoD are looking at all options re the bonds
Savings - from memory its £40 million savings to date and another £20 million plus expected in current year - quite agree the savings are at best maintaining current profit level as other costs increase - perhaps savings on the pension schemes might be possible....
Danish Operation - whether its £100 million or £200 million IF sold it will reduce the debt although profits will be zero - at the moment...
I agree about a D4E - the negative is more shares (if still listed) the positive is reduced debt/overheads and future secured...
BTW as I said before - you only post here - there are plenty of other retailers in dire straits plus other sectors - what's so special about Debenhams to some shorters out there? You made money - look elsewhere (in my humble opinion)

1) it's been stated many times that the Danish operation is worth £150-£250 million, however agree it's unclear if this is the price the company will achieve on disposal 2) cost savings have been achieved and future savings planned for this year - do you read the RNSs? 3) rents are going up..so are salaries etc
4) bonds are valued at 51.7p but if course the company would have to repay the nominal value in 2021 so options have to be considered now (replacement bond issue etc). Anything positive to say?

Can't see why the company has suddenly borrowed another £200 million in a month to be near the headroom limit.. Of course if profits have fallen below X level then it's the lending terms that might be too close for comfort hence the discussions in revised terms..

Really... a couple of agenda driven posters keep looking at the WORSE case option if there is a D4E swap (e q u i t y) then why would the company have to repay ALL of its £200-£300 million debt? For a start the bonds could be extended or new bonds put in place as per normal procedure with companies that have bonds... Why would all the lease incentives need to be settled? For a start - only a fraction of the store portfolio is likely to need to close near term - so only these stores s/b effected - would a CVA solve or reduce this issue anyway?
Banks/bond holders would probably insist on debt being reduced to a serviceable level - rent to be reduced to a level that is affordable - no one would expect all debt to be repaid or all lease incentives to be settled - well... only a shorter

SV - there is so much fake news about - were do these outlets get this information. Over the years I reckon the weekend business stories have been half right and half wrong. Even the FT and Telegraph don't agree entirely on future developments. Always best to wait for an actual RNS than rumours that we can bend to suit our own agenda..

LSE - post reported for untruths. I work in retail and know people who work at Debenhams for historic reasons - I am not employed by Debenhams. Reported because I have stated this many times so please do not LIE. I was asked if I have invested here and I said "yes" and at least I am open about the value of my holding. You however change your opinion on a weekly basis - do YOU hold or not?

SV - I am not an expert on the Mothercare story but I presume the rights issue was alongside the CVA? LOL name a rifhts issue that is not at a discount to the current share price? My point is/was that the company remained listed - some shorters do not expect this to be the case here. The Mothercare share price was fallen over the last year - I presume more to do with the worsening trading environment rather than the extra shares I issue ..

I am being selective ... just as YOU are being selective - to justify your decision to sell out (since you have been negative ever since).. you ignored the Mothercare story... again I repeat - other companies have gone down the CVA route with MIXED post CVA success - can we at least agree of this point?
SPF - it may be that a CVA will happen alongside a D4E - would make sense. If I had a choice I would prefer a CVA - reduce the rent by (say) £50 million p.a. and keep the share issue the same - however with the bonds due in 2021 some form of equity raising looks a nailed on guarantee at some point over the next year - perhaps the company will do a CVA first - hope the share price re-rates - and then go down the fund raising route? (I would try this if in charge)

Let's think about this. We don't know the details yet. Other companies have gone down the CVA route and remained listed.
Indeed a debt for EQUITY means the company should stay listed. Current holders will end up with a fraction of the revised share issue and more shares will limit future upsides.
The positives are 1) debt reduced 2) costs reduced (rent) 3) perhaps less stores close as reduced rents mean some stores marked for closure remain viable. 4) company survives!
Of course worse case talks fail and Debs end up in admin and ore pack. I have always said that this is high risk to hold. Up to each individual to decide what to do but personally any measures to keep the max number of employees in their jobs have to be good news

SV - ok, but my point was that you must have been up all night thinking up that long winded post on your non investment :-)
Btw the posters who keep mentioning the share price have been the shorters on various BBs taking great delight in seeing the weekly drops over the last year so I think we can excuse the odd poster being positive on the occasional good week

Couldn't sleep SV? The whole world? Give me strength.. most people have more to worry about than what will happen to a high street retailer. As for chat room posters - you are one of them - and you have mentioned the share price and rental situation probably 200 times now - so look in the mirror ..

Southampton.. convert to flats? We do need.more housing.. perhaps if online was taxed at the same rate as bricks & mortar then retail closures will slow down... However that's another debate..

Don't you think we should wait for actual confirmation news before jumping to conclusions? Re 2010 I presume this was when the company was private and nothing to do with common management? Also let's not single Debenhams out - others have gone down the CVA route and if true, Debenhams will not be the last ...

SV - to be fair to you, I see you have posted in around 15 companies this month. I rather see members posting in multiple threads than just the one. Some months I post on 4-6 companies - other months 20+. We are all different and I trust like me you are positive on some and negative on others. I also suspect like me - you can change your mind on a company depending on events ..

You did not buy at 5.39p this week did you? The share price has recovered a tad from a sub 3p low. So the good week comment is obviously about the sight improvement this week - not about performance over the last few weeks/months.. a few good weeks and you will be back at breakeven (being positive) Have a good weekend all - hopefully the ice rink outside my door will melt soon!

SV - LOL i do agree that YOU do spend a lot of time wondering about other peoples' investments (mine). I tend to post on shares i hold - held - or may (re)invest in. Rarely discuss a share that I have no interest in ever investing in. Fair enough - you held here and have turned 100% negative - fine, understand in a way considering the loss many of us have realised or have unrealised...
Re bonds - agree 50% discount to book cost is substantial - a 11% yield - but as i said yesterday, many corporate bonds will trade under book cost - depending on current interest rates etc. Perhaps if the situation is resolved the bond price will recover - indeed in hindsight i should have acquired the bonds not the shares.. BTW none of the bears yet have agreed that the appointment of the Chairman (from Hammerson) is a (big) positive considering his field...

Actually READ my post Quindell - what did i say? Answer: this is not new !!!!!!!!!!!! Since I held the shares (trading a few times) I can recall at least 4-5 share placings ... directors have been paid during all of these fund raisings AND IT HAPPENS ON MOST AIM SHARES. So lets not get all high and mighty about one AIM share - too many raise funds to pay director salaries - I know it - you know it - we all know it.
As for your revenue point - agree - the only way you will know of progress is when the interim and final results are issued - no increase in revenue will suggest a big fat failure. I do find it strange/interesting that 4-5 posters - all apparently shareholders - have just suddenly a month or so ago started - all at the same time - to complain about one director and his salary... Whats App group or like minded individuals?
Let me say again - totally agree - his salary should not be more that £100k .. probably even less... until real progress is noted - but i remain a shareholder because i see progress in India and pleased to note the company now is moving into Indonesia. If i was as unhappy as the rest of you - i would simply sell up.. Well .. do it then!

AIMless, you hold here, right? So you are entitled to be unhappy. I am too.
However what you are saying isn't new is it? The company has been issuing shares for years. Paying too high salaries for years It's really a bit late in the day to complain imho. Go to the GM then. Make your voice heard.
Personally there has been so much news flow in the last six months (count the tie ups) I am a tad more positive. Just wish we could have some figures behind the agreements. Oh, and as a shareholder I try to find more reasons to hold than to sell (it's close) otherwise I will sell out and move on...

Lol Britney. I didn't set up an account to moan all the time. Oh, and I do hold MOS and DEB so of course I post lol

Jezz.. you really have an issue with this company don't you? Give it a break! The company already has a plan to close 50 stores over the next five (!!) years. An orderly exit... They are talking to the banks. Like most listed companies they have bonds to repay or refinance in two years time.
Are you seriously suggesting they haven't a clue and are not working on solutions? They just appointed a new chairman + from Hammerson!!!!!!!!!!
Enough! If only you did the same research on your actual investments.. I do wonder if you ever actually held here considering your 100% negative deramping. Who's desperate again??