Member Info for mt11

The RNS on 3 February 2025 shows that Dan Finley was awarded a total of 4,793,104 nil-cost options.

This included 3,793,104 options granted on his appointment as Group CEO, which vested immediately.

Dan did not receive millions in cash. The timing is questionable, ideally these awards would have been deferred and linked to performance hurdles.

However, this arrangement was agreed during John Lyttle’s tenure.

There's also this

https://find-and-update.company-information.service.gov.uk/company/11941376/filing-history

The other key question is whether the RCF includes restrictive covenants linked to equity levels.

The company’s current valuation is approximately £158m, while the RCF facility is £175m.

Does this mean their ability to draw on the RCF is capped at or constrained by the current market capitalisation?

Maybe Frasers had this restriction whilst TPG did not?

You never answer a question directly do you?

How did we go from cash vs shares split to “total remuneration was 3.5”?

You never did say what you want for the company…

Indeed. What was the split between cash and shares?

Frasers would know if the founders or their family owned more shares than stated. Besides, they have to publish larger ownership.

Dan’s bonus is in stocks, not cash, he’ll have a tax liability due to that anyhow. Yes it’s meh of them considering how Debenhams has done, I wouldn’t mind if they offered him a substantial package linked to long term share performance with ambitious hurdles.

The other interesting point is Carol Kane would/should have access to the stats. Her purchase was roughly around the end of the half-year end period. She won't know the final results but she would have a inkling on the trend and direction of travel.

P.S. This is no way suggesting you should invest in the company as it stands. Just making small observations and connecting some dots through writing.

I wonder how low the price has to fall before the Kamanis lift their aggregate holding to just under 30%.

It’ll also be interesting to see if Carol Kane adds to her stake.

Worth noting that directors/senior management can’t buy shares during the 30 days leading up to a results announcement. Since Phil Ellis bought on 30 September, that means the earliest the interim results can be released is 30 October 2025.

Each new director purchase would reset that +30-day clock, right up until the end of November, which is the deadline for publishing the interims.

Would be nice to be Big Mike where you'll lend at least £125 million to a company you don't even like

30-Sep-25 375.00 Reiteration Peel Hunt Limited

30-Sep-25 600.00 Reiteration Berenberg Bank

Why did Big Mike think it was worth it high 20s and early 30s per share?

Bfdinvestor - Who's buying if there's not a buyer when a seller sells?

Market Makers don't call bluffs.

They quote bids/asks. If there's less natural participants then they can't do a lot about this.

Every trade has both a buyer and a seller, and whether it’s labeled a “buy” depends on whether it hit the bid or ask. Price falls when sellers are more aggressive even if that metric looks lopsided.

What do I know though, someone on here said I make it sound like I know what I'm talking about ;)

We're SO back LOL the SP is back in the 12p 🚀 😂

I'm joking if it's not obvious 😒

With Asos there is typically a event and then it drops before drifting upwards again. Debenhams has been drifting down for ages.

Debenhams are at fault, they should have updated the market on time. They need to be mindful of this going forward.

Asos have shown cost control and the ship is turning around as far as I can tell, it's not been the easiest year to operate it but that's life.

Lol you can’t make this up. Even with director buys it drifts lower.

"Mt do you get the feeling the family carry more voting power than officially stated??"

Here's what Frasers reckon as per their Final Results: "It was noted that the Kamani family holds 22.8% of voting rights in the company"[1]

Can you explain how the retail investors swung the vote?

[1] https://www.londonstockexchange.com/news-article/FRAS/final-results/17138408

Who knows. The results won't feed through for a good while.

I still don't get the angle that retail investors swung that vote tbh