Member Info for mt11

Frasers will drag it out, Mike Ashley ain't known for paying over the odds.

The other day I asked what would you do if you were Mike Ashley, guess we're about to find out.

Kamani's ought to start building up their stakes up to about 30% if they want to keep hold of this.

At 18p the market cap will sit at around £250m.

At 3/4p then the market cap will be £40 to 50m.

I doubt Boo will be a £100 billion market cap company, even Shein ain't that big.

Keeps us all on our toes at least.

Joking aside, the current market caps for Boo and a few other UK companies are detached from reality. The boards of these companies are not doing the shareholders any favours either with their silence.

Retail investors didn't have enough voting power to swing it.

How much are the Kamanis being paid right now? I mean the actual figure you can point to, not something Frasers Group threw out there and not followed up.

Mike Ashley was out of pocket for wanting to be CEO without the willingness to put his competing businesses in a blind trust.

Anyhow, you're Mike Ashley. You see this. What do you do?

WOW! WOW! WOW! WOW! WOW!

WOW! WOW! WOW! WOW! WOW!

WOW! WOW! WOW! WOW! WOW!

WOW! WOW! WOW! WOW! WOW!

WOW! WOW! WOW! WOW! WOW!

The issue with ASOS is they have a lot of stock on the books that they are trying to clear, ASOS is trying to move to a Boo model. The other issue is ASOS is just ASOS, meanwhile Boohoo is Boohoo, Boohoo Man, PLT, Karen Millen, and Debenhams. Plus all the labels like Oasis, Wallis, Burton, etc. The other thing is Boohoo is expected to pay down their debt and then only has a RCF. I think ASOS sort of halved their debt with a equity conversion but then still has a large debt.

Stephen Morana held 129,097 shares in boohoo as per the 23 January 2024 notice when he was appointed. He paid more than the current share price for those shares. Sure, he could buy more. Maybe they are in a lock up period?

The issue is that they avoided scrutiny by releasing this the day after the investor call.

In general, companies disapply pre-emption rights when they need to move quickly. If we give them the benefit of the doubt, Metro may believe they will be able to raise funds swiftly at some point in the future.

Cheer up, Umar Kamani is back ;)

Joking aside, it looks bad. Yet the decline is on no new information.

He could just start buying shares, it's alarming he claims to believe in the business but not enough to dip into his pockets to pick up shares on the cheap. Not even a token gesture. Maybe we need to start commenting on his posts asking him why he ain't.

NonPartisan - Well done on RR!

Good luck with Metro...

Boo's in a holding pattern until we hear something from the board, most likely to happen at the next update. I think that's around May. Of course, they could surprise us with something like asset disposals, but I would rather they don't sell the gold to polish the silver. Maybe a deal like ASOS' Topman partial sale, provided they keep control.

The other catalyst would be policy shift on SHEIN or TEMU, I wouldn't bet my last penny on that though.

I don't see a buyout anytime soon, then again we didn't expect that BS they pulled when their AIRB needed work. The UK banking regulation needs to get on with helping smaller banks, it's been on the cards for years but it always get pushed to the long grass.

RBC raises Metro Bank price target to 100 (93) pence - 'sector perform'

Listening to the CFO right now and it sounds all reasonable, they even had some positive surprises. Who knows, maybe the big investors are digesting the results. Plus, some have been burned multiple times before.

Wonder what the market expected because it turns out it wasn't this.

The best thing for Metro since they have changed direction would be to reduce their presence on the high street. It used to make sense as they were going for retail mortgages, etc. Now they're becoming a specialist lender they don't need all that. Reduce the branch imprint, then start offering better interest on savings.

Wonder why they would release this the day before FY 2024 Results. Why not just wait a day.

More likely Boo + ASOS will merge than one of them going bust.

Southcoastbather - it's not great is it.

In other news... what would a successful (or positive) update look like for Boo?

Could it be; Selling off some of the brands. Less debt. Stabilised Revenue. Boo products in Sports Direct.

If the Government started treating Shein/Temu the same as Boo then we'd really see an uptick in Boo.