Member Info for PAS14

Thanks Suthy ... just trying to understand how the big players get involved , as it seems we've spoken to them (some) and they all want it all on their terms , so its good QBT have said no , its on our terms and bte here's how you can trial it etc .... but what forces them to capitulate and sign a deal or 2 or 3 !!? 🤞

Jam or anyone. trying not to be a negative nelly here , delighted with the news / lift , however is it not a concern that the big boys havent 'signed up ' for wahetever reason ... and are we not now targetting lower level miners with fewer mchines and therefore the likliehood of lower profitability (to QBT) ... of how do you see it , as surely we need some of the big players to commit and take these products Meths A & B?

So if no coincidnce ... youre suggesting there could be a correlation .... or are you saying it IS a coincidence ?

.... or not !!???

https://www.tradingview.com/x/dkqJ8Z9I/

... all makes for an interesting few months ahead Jimmy, Dom, Roger .... is it just the 4 of us !! 😊

Whens this gonna move Eddie ..... or am i being impatient !??

Baaj is an LLP.

LLP cannot issue shares. LLP has to get converted into public company to issue shares to the public and then company can bring IPO and list its shares on the stock exchange.

I’d stick with Bodycare or its direct parent …Baaj buy it , grow it , flog it …. Could be the model !?

Plus it if In the Style ‘on line’ suddenly became involved … could be open to some criticism (subject how the admin was dealt with ) … thinking aloud ! 🤔

… so Baaj Cap owns the remaining In the Style on line business AND also Bodycare ?

….I’d say / hope , the RTO will be whoever owns Bodycare these days in one way shape form or another, Group Co or parent Co etc … ostensibly Bodycare ( as a trading name) is the business seeking growth (via funding probably) and hopefully via the RTO …

… last RNS said ‘strong contender was a retail

Business’ or words to that effect … so I’d say this is the closest we’ve come across so far ..

Lets hope so Dom .... if indeed it is Bodycare , its a sizable well establishd business , with significant growth prospects certainly for the south east of UK/London !! Plenty of headroom for that SP !!👍

..... subject any value of the target RTO .... might be more ! 🤞

... if it is Bodycare Roger ( all seems to line up) .... its got to be well north of suspension price ,,,, however, until we see latest interims or EOY accts its difficult to know what value to put on it...

i usesd a crude valuation based on ostensibly the B'care last stats ... where s/h equity was that 14m figure ... yet that was 12/22 & much has happened since then ,,,,, that just gave a very crude value for B'care, before the sale to current owners etc ... as above i'd hope it would be well & truly north of suspension price ....

... sorry ,,, not Roger but Jimmy ! re..........

This is where you got the 14m Roger .....

'A crude valuation might be :-

Total Assets less current liabilities :- £14.23m '

(last filed accts of the Bodycare parent co. GR & MM BLACKLEDGE PLC)

This is where you got the 14m Roger .....

'A crude valuation might be :-

Total Assets less current liabilities :- £14.23m '

(last filed accts of the Bodycare parent co. GR & MM BLACKLEDGE PLC)

... wont all roll over into any RTO mind ...

A crude valuation might be :-

Total Assets less current liabilities :- £14.23m

(31/12/22)

Alternatively, DCF can be used.

I imagine the outgoing owners will have taken some of that balance , so this years accounts will reflect a more accurate value. Albeit these may not be filed till Sept ‘24 (subject AiM / RTO rules etc …which I’m not entirely sure of)

Its these accounts ( to 31/12/22).... GR & MM BLACKLEDGE PLC

T/o £118.77 m (2022) v £79m (2021)

c/f loss £3.42 m (2022) v loss 6.5m ( 2021)

S/holder funds/equity 14.2m (2022) v 17.7m (2021)

No Qualifications on the Auditors report . Clearly had some Covid pressure , implies some Landlord rent arrs remain (tbc)...

https://find-and-update.company-information.service.gov.uk/company/01764610/filing-history

Happy Days IF THIS IS the target !!

DYOR !!

... good point Jimmy ... re the shared database !! Certainly would extend Market Segment access to the former ITS Arm customers .... lots of potential synergy here ...

Regards valuation , s/h reserves are 370K (Dec '22) , so thats a bottom side valuation , as this excludes various other m/cap contributors ... earnings , expansion etc etc ... and bear in mind tahts the parent Co so may be some anomalies in that ...

... alsopresently EOY is 31/12 (Bodycares parent co) ... so they may hold off until that date has passed to RTO , so as to maximise the 9 month filing period though to Sept '24 (it reduces to 6 months for AiM listed co's)... so may not get a clear valuation till then .... that however not a given ....

... note to self ... feet on ground time ! ! 😊 🤞

Bodycare is set to expand its estate and launch a loyalty scheme by the end of the year, as it targets growth in the south of England, Retail Week can reveal.

The health and beauty retailer added five new shops to its 130-store estate, with the latest opening yesterday in Walthamstow, London, and the others in Stevenage, Sheffield, Huddersfield and Ipswich.

Tony Brown, chief executive officer, said: “We plan to increase our current estate by another 30 or 40 stores as and when the right sites come our way. We are predominantly a northern-based company but we see our expansion going into East Anglia, the West Country and Kent. We see that corridor as our expansion areas and opportunity areas.”

It is also working towards launching a loyalty scheme by the end of the year.

Brown said: “One of our biggest investments this year is our IT systems. The current [one] has been there since the business opened 50 years ago. Having a more flexible IT system and ecosystem will allow us to build a loyalty scheme certainly within the next 12 months.”

Thanks Jimmy ... couple of others on here pointed me in the right direction , so thanks to them too ! ... It certainly all seems to add up .... and Bodycare have the growth plans ... 👍🤞

... it would seeem to add up .... otherwise why move the HO address to an address where you have an established profitable retailer that is looking for significant expansion in the UK .... a listing via RTO would certainly underpin that !?