Member Info for Metamorphosis84

"don’t you think the BOD owes them an explanation to why the situation has deteriorated so quickly and what has changed from the 5 January to the 22 March that now a wipe out is the likely outcome" Yes, I do, as a listing company they have a legal responsibility to not mislead the market.

"The Board are under a fiduciary duty to act in the interests of all shareholders. - Thats ALL shareholders." I think what you mean is that the Board are under a fiduciary duty to not trade insolvent, which means in effect it is the creditors interests not the shareholders that are primary.

"We can both agree it's a heck of a lot."
Yes we can!

"He would wipe out Debenhams debt ...by replacing it with SPD debt (or shares). He still has to find/borrow the £500-700 million from somewhere"

He could do, but why jeopardise a healthy company like SPD for the sake of buying Debenhams? Its crazy, SPD SP would be immediately impacted, how would their shareholders feel about that?!

Opinion: No Opinion
"We keep picking figures out of thin air re the debt. It was a little over £300 million at the year end. Now some say it's £700 million."
I never said £700m was the debt. Read again (i know you have had trouble actually reading the words in front of you before)

"But in order to buy Debenhams and write off the debt he would have to put up as much as £700m"

See, "in order to buy Debenhams" "AND" "write off the debt"

"Let’s face it, Mike Ashley is a bidding expert. I imagine if he wanted to, he could have satisfactory bids for any target prepared by his legal team within one weekend "

I am sure he could. But in order to buy Debenhams and write off the debt he would have to put up as much as £700m
Even if he made an immediate turnaround and started making a profit, how many years would it take for him to make the money back?

"Obviously the debt is an issue and Debenhams have fought well to try to remain independent but most obviously of all, the creditors attempts merely indicate how strongly this is a bargain and how much they want to take control instead"

You seriously think the creditors want the business because its such a bargain? Actually don't answer. The creditors want Deb because gaining assets is the only way they see that they will get (some of) their money back.

"Am fully expecting an all share offer shortly"

Why?

Yeah you'll get called a troll, a de-ramper, a shorter or a disgruntled ex-employee (my personal favourite), if you put your head above the parapet.

Alwayswinning, doesn't surprise me, I think they fall into 2 categories, mugs who don't realise the share is cheap for a reason, and others who are in so deep they try to get more mugs on board to try and spike the SP to give themselves an escape (this will be £xx by xx brigade) Saw it all very recently at IRV as well. And like cults, these people round will round up and hound anyone who exposes them for what they are.

Whatever happened? About 30% down from when it spiked this time last week! What a disaster thousands of pounds lost.

Wasting your time with these schmucks, most of them are desperately trying to cause a spike because they were dumb enough to buy this share when it was in double figures and stupid enough not to sell, they caught a falling knife and are in deep, now they need to get out.
Listen to the silent majority (and the II's), they know that shorting is a symptom, not a cause.

Knigel, come on then for the benefit of us all, who should be allowed to post on here? 1. Those who have opened a long position with the intention of closing it in a short space of time to make a buck? YES/NO 2. Those who have opened a long position with the intention of closing it somewhere a few months down the line? YES/NO 3. Those who have got a short position open? YES/NO? 5. Those who have previously had a long position open but have now closed it? YES/NO 6. Those who have previously had a short position but have now closed it? YES/NO 7. Those who don't have a position but are thinking about opening one. YES/NO 8. Those who don't have a position but do have a view on the future of the company YES/NO 9. Those who are new posters to Deb YES/NO 10. Those who have been posting for a long time YES/NO Your participation would be helpful, because you can't have it all ways, and you are coming across as a child in the playground with a shiny sherrifs badge. Oh and one last thing, stop crying and taking it personal, you have repeatedly and deliberately spelled my name incorrectly. Have I made a big fuss about it?

One second Knigel is demanding that folks declare their positions, the next he criticises them for telling them how much they have spent! And yes, very patronising.
Who do you think you are?

Fair play with this ramp attack, 8 messages in two minutes. By the way, there will be no rally before close.

Things are getting strange, I'm starting worry. This could be a case for Muir and Scully.

Come on, lets have your most outlandish price prediction for this afternoon

SPD aren't negotiating, they are just shouting through the letterbox. With little success it would appear.

Never ceases to amaze me, ramping a share that is actually suspended.

"When will Ashley put out his April fools day RNS ?"

Already has, it came out at 7am this morning

He isn't bothering though is he.

Still no offer just a letter that took 5 minutes to knock up on microsoft word.

Doesn't matter if he has shareholder support, the lenders are in charge here.

Well there are a lot of characters from Friday lunchtime and over the weekend who look totally ridiculous now with their spamming about how this is going to fly, takeover bid, whatever.
They seemed so certain! IT WAS GOING TO HAPPEN?
So what is SPD's next move? A middle page spread in the Sun?
Or maybe one of those aeroplanes trailing a banner.