Member Info for mt11

Missed opportunity... Metro Bank should have iterated what this uplift means.

Frasers reduced their THG holding from circa 12% to about 10%.

With 1,397,498,112 shares in total, the disclosed 2.26% shorts will need to buy 31,583,457 shares back. That's just the disclosed ones. It could get very interesting.

@Percypipe59 - Dan has been a wrecking ball, the share price is still below what it was when he took over.

Frasers were offered a seat on the board but they acted like they didn't want it. It's like how Mike Ashley has been offered the CEO job of Debenhams twice, once before it folded and now, but he refuses to put his other competing interests in a blind trust.

That said, the board and CEO of Debenhams have been disastrous.

> Frasers' chief financial officer Chris Wootton said Debenhams' latest move, which could see CEO Dan Finley earn up to 148 million pounds if Debenhams' share price hits 3 pounds over the next five years, was "typical corporate governance from them, utterly disgraceful".

> However, he told Reuters that if Debenhams achieved a share price of 3 pounds "shareholders will be happy."

Decent buys, although they started buying after the price had risen off the ATL. This is interesting as well: 'Purchase of Ordinary Shares via SIPPs'

Debenhams Group is now worth more than ASOS.

A billion makes the share price 71.43p - long way to climb.

A lot of possible pitfalls but if they can exit Burnley and sell PLT then it could fly.

Last year DBZ Marketplace (Debenhams.com) posted their accounts on Companies House on 16th December 2024. Could be interesting.

@southcoastbather ah I see, if you link to the Company page on Companies house then we’ll be able to click the document directly to view it.

@southcoastbather Link doesn’t work

@southcoastbather - They need a Special Resolution because they are dis-applying pre-emption rights when they issue the new shares. Had they succeeded in getting the right to issue more shares at the last vote then they could have done this as a Ordinary Resolution.

Special Resolution requires 75%, whilst Ordinary Resolution requires 50%, I suspect they would pass the 50% hurdle.

Either way, it's moot because AIM doesn't require members to hold a vote for these kinds of actions.

We've discussed Kamani's holding previously, I always took the view that Frasers' guide on this is right. In the 'Annual Report 2025', Frasers said 'Kamani family holds 22.8% of voting rights in the company and that the two founders of the group are members of the board of directors'.

As it would be a ‘special resolution’ then wouldn’t they need 75% for it to pass hence still requiring Frasers to agree?

Ergo why they didn’t vote on it.

The way they've structured it is kind of odd, it goes 35p to 60p, then the increments are a bit more consistent. It almost feels like they worked back from a figure and tried to make it fit. At least they didn't set it too low. Hopefully it'll pick up some momentum and we'll be back to a more reasonable valuation. We are still a long way off their first hurdle, at which point Disaster Dan unlocks £14 million.

Dan loves superlatives. Neither he, nor the CFO have any charisma. Watching their video is torture, they couldn't even be bothered to memorise what they're going to say and were reading off a teleprompter.

This is what I mean by Ashley replaying the same plays he did. He desperately wants Debenhams though.

Ashley could follow through and make a offer for the whole business but he seems to be replaying the same plays he did last time he wanted Debenhams. It's cost circa £250m (current investments in Boohoo/Debenhams and what they lost on Debenhams before it folded).

Disaster Dan's video makes it sounds like he's trying to be Amazon.

I don't see anything in the RNS about Debenhams Pay+ or Delivered by Debenhams.

Yikes. People are really loading up. Still down on the 6m, YTD, 1Y since Disaster Dan.

I don't mind Disaster Dan netting all that money if he can get it back to £3 a share. We'll all have done well, obviously he'll have done far better than all of us.

It finally broke up on the month... but still down on 6M, YTD, and 1Y since Disaster Dan became CEO. Hopefully the momentum will carry it back to where it was a year ago and then 'Disaster Dan' can turn into 'Delivering Dan'.

Frasers got a look in the second RNS with "a major competitor who is a significant shareholder of Debenhams continues to seek to disrupt the Debenhams Group's growth strategy and operations rather than maximise its future success; at the Debenhams general meeting on the 28 March 2025, it voted against a simple resolution to change the Company's corporate name".

People overlook how much Frasers (and Mike Ashley) don't want it to become Debenhams, Frasers want to buy the Brand, not the Group. If he gets the Group then he'll carve it up and keep the Brand but he doesn't want the extra headaches.

They published the budget and it says

“ From March 2029 at the latest, low value imports will be charged customs duty just as goods imported in bulk already are and new import arrangements will be put in place. The government will consult on the technical detail of these new arrangements.”

So it could be sooner than March 2029.

Could be too late by then though.