Member Info for MikG

Good advice re Samaritans. You are far more valuable to your loved ones than any insurance policy would be - its a bad day, but often the darkest hour is just before the dawn. Stay positive.

But why everything under the Takeover Code and a deadline given to SPD of 22 April, if the BOD could just go behind their backs and pull the rug? Surely the Takeover Code deadline of April 22 must be adhered to?

So if DEB has gone into administration and we shareholders have all lost the lot - what was the meaning behind this at just 3pm yesterday, 45 minutes before the close of the last session before administration. Could someone enlighten me?

"Notwithstanding Debenhams' rejection of Sports Direct's proposal in relation to the Equity Issuance, Sports Direct continues to actively evaluate all possible options to support Debenhams. Accordingly, Sports Direct continues to give active consideration to its pre-conditional possible offer for Debenhams at 5p in cash per ordinary share announced on 25 March 2019. Sports Direct has until 5.00pm on 22 April 2019 to announce either a firm intention to make an offer for Debenhams or that it does not intend to make an offer."

Absolutely agree with this. Keep hearing about wipe out this, pre pack that... SPD have reiterated their consideration and intention to bid, so they have under the Takeover Code until 22nd.

People can bemoan the BOD all day long, and it may be clear they are looking after their own interests to an extent, I agree.

But we have to remember if this goes down the swanny, that MA has still NOT made an offer ffs. All this provisional talk, refinancing IF he gets made CEO (they clearly all have disdain for each other, so that will be an unpalatable offer to the BOD no doubt), but if he really wants this, he has the protection of the Takeover Code...and he can just make a F-ing offer! All this palavering around .. either he wants it and he has to actually cough up for once, or he doesn't, I have punt money here so its not the end of the world to me, but the BOD are telling him he isn't getting control and power on the cheap. Its basically put up or shut up.

They want your shares. Make of that what you will. This is not being priced like a company heading for implosion in 45 minutes.

February since the last up day. Nothing but continuous freefall since. Extremely alarming as there isn't even notable volume to cause the drop - just a never-ending cycle of market maker markdowns and ZERO buyer interest to step in at lower prices. Daily RSI of 4 looks like a historic low for this. Has to be something seriously adverse going on behind the scenes for MMs to be punishing it to these extremes.

Feels like MMs are keeping as flat a book as possible, allowing sells as buys permit. Like the rest of us, they are in the dark and at the whim of this binary outcome from SPD. The more time goes on, the less likely it feels that we will get a bid that is satisfactory to shareholders, but there's also a mix of pessimism in that. I fully expected a bid on Monday, so the length of delay is disconcerting - but the reality is there are a lot of parties to speak to in getting an official made done, and not everyone will be in as much of a rush as us shareholders. Fingers crossed.

Missed all this afternoons action and trying to catch up, but a lot of posts and RNSs' to read!

Seeing a lot of people talking up bid prices in excess of 5p, some around 7-15p - where are these sorts of figures from? Seems to be no sign that the 5p offer has actually made, let alone declined, so trying to figure out why it would now be even higher? Can anyone help?

What else can Mike expect when he hasn't even tabled a formal offer? How can Debenhams stop everything they were doing re refinancing on a "possible" offer. Where does that leave them if Ashley decided to scrap the offer or lower it to an even less acceptable amount.

Glad I'm not the only one who was asking that this morning. It's good news though - guess we could argue worth repeating twice :) Maybe this time it'll actually do something for the share price, too.

Pearls, not looking to scaremonger in the slightest (I've taken a lotto punt here), but you talk of rallies tomorrow as folks know it will continue trading - how can you be so confident in ruling out a 7am RNS tomorrow morning? Do you know something we don't. Many thanks, Mik.

?? Wasn't it JD that did that, not Sports Direct?

Think there'll be little option bar going after the free float now. Would imagine that every II who wanted to jump ship and hand over their shares to JD has done so already, and the already tiny free float will continue to get squeezed further.

All seems to be very quiet at the minute - that can change in a flash with a flurry of buying. The shrewd will be accumulating during these lull times, rather than waiting for higher prices once the buying kicks off again.

The good buying continues. Volume at about 200% of average daily volume.

Unfortunately share price wise all this has led to is increase spread, but some decent accumulation continuing. .

Here seems an appropriate place to ask since it can only be retail who would sell at this price..

What is the motive to sell when these shares were changing hands at 50% higher (early 60s) not even 10 days ago. Other than playing straight into market maker hands, what is the risk factor here knowing JD sports are buying another 10% of the non existent float any moment (and the previous 20% has been bought up to 75p), there could easily be a buyout/bidding war and the family that hold most of the shares IPOd it at £1.60. .

I just cannot get my head into the mindset of the drip sellers that enable the MMs to flush it lower. The lower it goes the more the retail traders sell. My head is scrambled by it.

Re news leaking or slipping to friends, brokers, Nomads etc, that is 100% how AIM works.. not the larger markets to anywhere near the same extent (these days) that are actually subject to meaningful regulation.

So not only is the above a possibility, but also there is the potential that one of the pump and dump crews have picked this up, and as ever, before unloading this as the "next best thing" to their unsuspecting followers, who buy and drive up the price for them to sell into, they need to position. An upturn in sentiment on here / Twitter etc will reveal that hand.

Hopefully its just good old fashioned value investing. At the end of the day someone took nearly 1% of the company a few sessions ago, and its risen well since. For that reason, I'm leaning toward it being more the former than the latter. GL.

Bought in one trade just there.

2.85 1,587,126 £45,233.09

Hopefully Directors or someone in the know.

Lol. This market is literally so bent I don't know how it manages to still draw in punters.

So essentially Sprott short the heck out of it all the way down on the open market. Sandfire lowball offer comes in for MOD, and even though insta-rebuffed, it means that they know another is coming and the shorting window has drawn in, with the high probability of a much improved second offer. So instead of making them sweat it out, and buy open market to drive the price back up - they let them off the hook with a placing down here.

Shameful. But the one salvation is that (1) the shorting should be done (2) the placing was at least at a premium and (3) I think there's a strong probability there is a whiff in the air of a second bid for MOD coming in for this placing to be done now at this price. All IMO.

Anyone know what the status is here re the offer? Is it just a case of wait and see if they come back with a revised MOD bid? Thx