Member Info for LetsTry

Thanks. Understood.

If the BoD are required to operate in the interests of shareholders, can they legitimately close a refinancing deal if a potential bidder (MA) who has declared an interest in paying about 2x current SP if the arrangement does not proceed ? Are the board not potentially in breach of their obligation to shareholders if they do so without at best waiting for the details of a bid to be defined, or at worst behaving in a manner calculated to deprive shareholders if securing greater value?

Apologies, didn't read your message before posting mine on a different thread (Doh!).

Why 1p? Perhaps a price calculated to be unacceptable in order to allow the BoD to enact winding up of the company which is what they have said they would do if the offer is rejected.

The argument for accepting the 1p deal is that it's more than shareholders will get if the now empty shell is wound up.

While anything of anything of any commercial value does appear to have been moved, if the company is wound up it will be able to dispose of everything else........ including all records, documentation and correspondence that do not need to be retained by law.

This material that could be the best if not only means of attributing responsibility and potentially guilt. What a great way to dispose of any potentially incriminating evidence in an entirely lawful way if there was wrong doing.

Thoughts? And if the documentation which any future investigation might depend on what steps can be taken to ensure it remains available ?

Some merit in the first part, but I frankly don't think landlords care a tinkers cuss for DEB shareholders one way or the other. Their decision will be a business one, and they will be asking themselves if not Debenhams then who will the tenants be? They won't want empty premises, and people aren't exactly queuing up for retail outlets with so many other retail failures ad empty premises already available. My suspicion is that they will reluctantly accept the hit.....and the DEB SP will inevitably move as a result.

re last message : if you want to avoid searching back through the board my email is flybsale@gmail.com.

apologies - dashing to get out for work!

Toastal, please add my email address to your list if you haven't.

I share your concerns, pain and in the very short term fear that this board will vanish and we haven't yet got an alternative means of communication.

As far as the last is concerned, if anyone interested in remaining part of this sends me an email I'll compile a mailing list and send a blank message out to all for you to use as you wish.

Ox42 with IT skills in abundance, quite apart from already having done a great job and committed so much, can perhaps suggest something better. But lets at least put a temporary measure in place pending something better.

I too am keen to pursue this.

I can be contacted at Flybsale@gmail.com

Please feel free to use it from now and certainly from the point this board is closed down.

OX42 : in the meantime, just stumbled on this :

https://www.aviation24.be/airlines/flybe/flybe-transfers-its-newquay-london-route-from-gatwick-to-heathrow/

I assume the Secretary of State also had no inkling of problems at Flybe when he stood up and announced in the House of Commons on the 22nd November, Rather looks as if the Department for Transport have endorsed Flybe as a strategic partner....

Presumably others quoted in the same report had similar confidence

Hi 0x42: you're on form this evening!

Happy to. The press release on their site (https://www.flybe.com/media/news/1812/1712) is in the December 2028 archive. I'll see if I can pin the date down more precisely.

You are absolutely right, it talks about flights not aircraft which are not necessarily the same thing. Leave it with me and I'll get back; but even if we have to report jst flights I think it still fits into a pattern of positive releases that paint a picture of expansion and unanticipated demand in last couple of months, and final fee weeks, of last calendar year.

back as soon as I have something for you.

I couldn't recall any either.

Does mean now that there can be no claims or defence of actions based on lack of awareness or understanding of the facts arising handovers and the like; so closes that down nicely.

OX42 : and from the same source (Taverham)

WE don't know what we will be voting for because we have not be given the breakdown of what has gone and what remains. It is frankly ridiculous to even think a sane person can decide whether to support or reject. There should be a full disclosure on what is now left only they and the consortium know what the bit that is sold contains. I think we should make this point onox42' s time line.

OX42 :

Another very good point for your timeline. All credit to Taverham. I'm jut cutting and pasting it into your thread so you pick it up easily.

Shareholders DO get a vote. But the vote is not on the sale of the airline business, that has already happened. The
vote is on whether or not to sell their shares for 1p each. If shareholders vote yes they get 1p per share, if the vote no the get to keep their shares in an empty shell which holds some cash. The cash is worth about 1p per share but will be used up over time for fees/expenses, etc.

Important point, well made. I'll copy the text across to that thread so OX42 can find it easily.

Next piece in the jigsaw :

Do you know off the top of your head whether there were any changes to the membership of the BoD since the last set of audited accounts were published?

i

Good. so we have a near term rock solid starting point. Perfect.

So a clear case of market manipulation in a well defined time frame.

Forgive my ignorance - what if any is the role, responsibility and liability of any auditors in respect of this case?

Sorry, to ease the burden on 0x42 should have asked that last question in a separate thread. will start one now. Thoughts there please.

Forgive my ignorance - what if any is the role, responsibility and liability of any auditors in respect of this case?

yep, that's it in nutshell.