Member Info for mt11

"scrambling to refinance early" is a stretch considering the current package was year away. If they hadn't refinanced now then the same people would be constantly pointing out the RCF agreement ending in 2026.

“Net sales in the first quarter of FY26 have declined 29% on FY25. The Company has seen year-on-year decline rates improve in June and July 2025, and expects revenues for the second quarter of FY26 to be lower than the same period for FY25 by approximately 25%.”

!!!

Well, we will see if the board believes after their never-ending closed period ends and they are allowed to buy more shares. I'm sure they would be more than happy to buy shares at these prices... or maybe not. I'm sure the Kamanis are itching to buy more to make a takeover difficult... or maybe not.

They still have NOT replied to any of my correspondence!

I'm guessing it's been hectic for them, that or they don't want to set a precedent.

Shows investor appetite with the original RCF, the "oversubscribed Placing & Subscription", and now the new RCF.

One could argue Frasers were making an issue out the Kamani story to derail the new funding. Although, Kamani still needs to answer for that. The board still need to reconsider if he's fit for the vice-chair role.

The next legs of this journey are:

- Audited Results

- Interim Results (usually around Oct/Nov(?))

The company really needs to sell any green shoots in the 6-months post FY. That should get us back to where we were a few months ago in terms of valuation.

The RCF this replaces was cheaper unless I am mistaken. However, the new financing package offers more stability given the time length on offer. They better start delivering on their promises or the new lenders will asset strip the company.

There have been some chunky buys over the last few days as well. Someone is going to do well off this.

Nice and they confirm they are not going to breach AIM rules and be suspended. Should see an upwards swing today. Then it all depends on if there is any nastiness in the audited results.

@southcoastbather - Dan Finley is the kind of guy that would be rearranging the deck chairs on the Titanic.

It does read like he's using ChatGPT as a sound board and asked ChatGPT to cheer him up.

Either he's brushing up his LinkedIn profile for a new job or he's incredibly bored.

Meanwhile I'm still waiting for a reply to my email from Debenhams.

@CWWX - Trying to make sense of it with the information we have. LSE board comments tend to be speculative.

@Bfdinvestor - The revised point in 9.9 of the AoA clarifies what was there previously. This, alongside the rumoured refinancing packing from TPG, and MA saying he would help them with refinancing a short while before suggests they are very close to closing the deal. Nothing is guaranteed though, and deals can fall apart right at the last minute but it strongly suggests they are working on something significant.

@Bfdinvestor - they have changed the AoA for other related entities like DEBENHAMS GROUP HOLDINGS 2 LIMITED as well.

"We, the undersigned, representing more than seventy five per cent. of all the eligible members of the Company"

They got approval through a vote, at 75% it means Frasers/MA voted as well. As they had a majority they didn't put it to the wider investors.

Normally they update the articles of association when they are raising funds through debt or equity and the lender/investor is requesting more protection. Looks like they really are close to refinancing the debt then.

@Kachrafilter - not been able to speak to anyone and no replies either.

@Bfdinvestor — I thought FY ended on 28th February 2025?

7 days (including the 28th) as far as I know.

Shares will get suspended if they don’t publish the results, they’ll stay suspended until they publish the results, and there’s other issues like a fine…