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Any thoughts on this share now...? No uplift really seems to be coming...
Thanks E_AL - appreciated.
Fairly new to PI and still finding my way... So why does this happen? Is it an attempt to manipulate by the MM's?
Which two were yours E_AL?
How can such significant buys make no impact on the bid price? Does anyone understand what is going on here...?
Over 500,000 vol sold today against a buy of less than 100,000... Is this still some of the big sellers? residual overhang? or something else..?
Mike15_ on what basis exactly?
Some big sells this afternoon...? Any thoughts?
Why...?
Wed, 27th Mar 2019 07:00
RNS Number : 1006U
Sports Direct International Plc
27 March 2019
Date: 26 March 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.
THIS ANNOUNCEMENT IS NOT AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE"). THERE CAN BE NO CERTAINTY THAT SUCH AN OFFER WILL BE MADE.
SPORTS DIRECT INTERNATIONAL PLC
("Sports Direct" or the "Company")
Statement regarding possible cash offer for Debenhams plc
Sports Direct notes the announcement made by Debenhams plc ("Debenhams") on 26 March 2019 in response to Sports Direct's announcement on 25 March 2019 under Rule 2.4 of the Code and, in particular, that any firm proposal regarding an offer for Debenhams will be given due consideration by Debenhams board.
Sports Direct wishes to confirm that it is considering making a firm offer for the entire issued and to be issued share capital of Debenhams not already held by Sports Direct and that it has put the following proposal to the board of Debenhams as to its terms.
The terms of the possible firm offer are that Sports Direct would offer 5p in cash per ordinary share for the entire issued and to be issued share capital of Debenhams which would value the total currently issued share capital of Debenhams (excluding treasury shares) at approximately £61.4 million (the "Possible Offer"). The Possible Offer, if made, would represent a premium of approximately 127 per cent. to the closing price of Debenhams shares on 26 March 2019. In connection with the Possible Offer, Sports Direct would also assist Debenhams in addressing its immediate funding requirements (subject to the pre-conditions set out below).
The Possible Offer is pre-conditional upon Debenhams immediately appointing Mr Mike Ashley as its CEO and terminating the noteholder consent solicitation process it announced on 22 March 2019. In addition, the Possible Offer is pre-conditional upon the Debenhams group agreeing not to enter into any third party funding arrangements (including those outlined in Debenhams statement of 22 March 2019), granting any new security over any of its assets or entering into any administration, CVA or other insolvency process. Each of these pre-conditions must be satisfied or waived before any firm offer can be made.
Sports Direct believes that the Possible Offer would offer fair and full value for Debenhams. It does not believe that Debenhams has the same value if it is (in effect) handed over to Debenhams' existing lender group. As such, Sports Direct would expect the Possible Offer to be attractive to Debenhams shareholders and other stakeholders as an alternative to Debenhams' current restructuring and refinancing process.
It is important to note that this is not an announce
@SMPUNTER - Does that mean that if there is no counterbid - the shares will automatically be executed at 83.2p and we will be paid out? Sorry in advance if asking basics but not sure if I should execute them myself now or what happens if I HOLD indefinitely?
Thanks JV... Thats what my initial thoughts were but a newbie in all accounts into this world... bought at 48p so great uplift but with JD's share price at £4.88 thinking there maybe still some more upside on this...? (Also FOOT's SP was £1.90 12 months ago so still has some significant headroom to grow with the supportr of JD now)
Morning all, what a great start to the week - the patience paid off! The big question now... does one HOLD or Sell...? What are everyone's thoughts and where and what do we think the SP will do in the forthcoming days...? Thoughts and opinions welcomed! GLA!
Sorry and thanks Debacle.
Yes your right - Patience is required.
Lets see what closing brings together with the forthcoming days...
GL
*incline not in-line
Anyone know why the share price is dropping as it is? Not been this low in while..? Expectations were for a staggered but increasing in-line but it appears to be the reverse...?