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Regulators had to approve the last deal and they might not be keen on sole foreign ownership which might be the reason it wasn’t taken off the market last year.
Metro Bank need to work on the narrative and more than likely dispose of the current CEO who is out of ideas. Then cut, cut, and cut some more until the bleeding stops. Then find some growth levers.
Now this fool is channelling his best impression of Ted Lasso.
His interim CFO chuckled - she's obviously heard this anecdote multiple times. Anyway he quoted the John Wooden and not worrying about the competition.
He said 2024 will be a loss making year.
There are various types of forms: https://www.thetakeoverpanel.org.uk/disclosure/disclosure-forms
These RNS Disclosure Forms are related to the Takeover Panel. It shows the position of the entity mentioned in the form. You may see an increase or decrease in holdings but equally you may see no change between 2 disclosures.
0.78% is tiny. Roughly 100 million shares so even at £1 that’s around £750k. At £4 a share thats £3m.
It could be argued that there are many more shorter under 0.5% reporting threshold and they’ll all add pressure. Or that most shareholders are severely underwater and they won’t sell easily.
Superdry hasn’t been subjected to a short attack.
The problems are poor performance, lack of faith due to poor investor relations, and it being viewed as a value trap.
JD won’t be bidding anywhere near what the newspapers are saying unless he is forced to by a competing private equity bid. Luckily for us, he does have to make the bid the highest he paid in the last year which will be from March 2023 onwards, that’s a double from here unless I’m mistaken.
Also worth noting, JD has said he wants to take it private before as well but that didn’t happen.
This is a rollercoaster of a share, I’m unfortunately a hostage for now but I am liking the prospect of hopping off.
Sueprdry should be able to negotiate on store leases, the owners of those stores would struggle to fill those gaps.
Good chance that Superdry gets taken over by the current lenders for failing to meet loan covenants. Superdry needs to reassure the market. Unfortunately the current approach suggests he has given up.
Superdry actually create good quality products but it's the baggage of the brand that's hampering them.
Worth noting, Superdry is in a lock-up period and therefore directors are unable to make share purchases outside of pre-planned purchases, e.g. Superdry’s Share Incentive Plan (SIP).
JD will not be able to take this over at the current price, he'll have to make a bid based on share purchases in the last year.
If they go pre-pack then they will struggle with lenders unless they get agreements beforehand. Not worth burning those bridges.
I expected Superdry to provide a press release allaying fears of an imminent collapse. Deals happen over weekends, it's possible they "raise" funds over the weekend and report on Monday. Over even in the interim results.
Superdry might not be "cool" anymore but it is still producing a lot of revenue every year. If they snip a few expenses then they can return to profitability.