Member Info for Paulleydee

Any company that says it doesn’t need to raise usually raises. What I mean is the CEO can say the company didn’t need to raise but decided it was a good idea. So not a lie. Although the financials may tell a different story. Got to remember a CEO’s job is to get the share price up and if that means planting a fluff piece to get a raise away higher then they will do it.

Yep, Just because ASOS raised money doesn’t mean it needed to. And given it is raising at 0% discount this suggests that to be the case.

My gut says it was to keep Mike Ashley at bay, they will not want him buying in open market and putting in his own board members, taking over influence in the company

Wow. Clever move by asos, no wonder the 2 main shorters have quickly exited, well Marshall Wace the biggest shorter completely got out and Kuvari dropped 32% in last 48 hours.

They know what they’re doing don’t they, clever b’——s ! I think probably tipped off.

From Reuters

May 24 (Reuters) - Tullow Oil PLC:

* TULLOW OIL PLC - FY GROUP NET PRODUCTION OF 61,120 BOPD, UP 6%

YEAR-ON-YEAR,

LEADING TO FREE CASH FLOW OF $267 MILLION

* TULLOW OIL PLC - FULL-YEAR GROUP PRODUCTION GUIDANCE OF 58,000 - 64,000

BOPD IS

UNCHANGED

* TULLOW OIL PLC - ON TRACK TO DELIVER IN EXCESS $800 MILLION OF FREE CASH

FLOW AT

$80/BBL IN PERIOD 2023-2025

Source text for Eikon:

Wow, now just total of 4.06 per cent.

Marshall Wace doesn't even appear now so obviously reduced right down again.

And yesterday Kuvari dropped 32 per cent down to 0.71.

Https://www.reuters.com/markets/commodities/tullow-oil-retains-full-year-production-outlook-2023-05-24/

Nice statement

(Adds details on partners, Kenya capex forecast)

May 23 (Reuters) - Tullow Oil Plc said on Tuesday two minority partners of its licences in Kenya will withdraw from some blocks in the South Lokichar Basin, leaving the London-listed oil and gas explorer as the sole owner of the

oilfield.

The West Africa-focused company said the withdrawal from blocks 10BB, 13T and 10BA was due to "differing internal strategic reasons", and Tullow Oil remains focused on securing a strategic partnership this year.

The two partners in the Kenyan onshore fields - TotalEnergies and Africa Oil Corp - who held a 25% stake each in the Lokichar field - withdrew after a longer-than-expected process to find a fourth partner in the project.

Tullow forecast its net capital expenditure for 2023 in Kenya to rise to $15 million from nearly $10 million, comprising less than 5% of the group's overall capex.

(Reporting by Aby Jose Koilparambil in Bengaluru and Shadia Nasralla in London; Editing by Sherry Jacob-Phillips)

That is a hell of a reduction recently by Marshall Wace since results published. A very good sign

I still think takeover bid imminent

Boohoo upgraded to Buy from Neutral at Panmure Gordon. Price target 70p

This is another good sign, plus Shorters closing further

https://twitter.com/baroninvestment/status/1659431200946110464?s=46&t=LZYHtt9O9lO7RV6oJu-Vkg

Shorts closing again I see.

Both boo and asos now sitting ducks for a takeover bid.

Think Ashley could’ve been buying more today - to try beat the Turks to the deal!

Shorts also reducing…

Exactly. Jose et al all bought shares within a day or two of last results. Not this time, as they are not allowed to if they are aware an offer is coming or whatever.

Speaks volumes.

The fact they even admitted in the press call they are ‘braced’ for a bid tells you everything you need to know.

Tonight Asos declined to comment to FT.

Also speaks volumes.

Why not just say there has been no approach - ‘we decline to comment’ is a giveaway!

People following the situation have heard rumours ASOS has attracted takeover interest from an international predator.

Some people following the situation have heard a company based in Turkey with a multibillion dollar valuation is the suitor stalking ASOS.

One person following the situation had heard the Turkish company has been holding talks with Bestseller, one of ASOS’s largest shareholders with around a 26pc shareholding, about making a joint offer for ASOS and made last year about a deal.

Could Mike Ashley now be preparing to quickly scupper this deal with his own hostile takeover bid?

Here he is, diving into the market on Monday and raising Frasers’ stake in Asos to 7.4 per cent from 5.1 per cent. Frasers (née Sports Direct) is Asos’s third-biggest shareholder. The biggest is Bestseller, the Danish retailer wholly owned by Anders Holch Povlsen, Scotland’s richest man, who’ll be banking another £90mn when the Numis sale to Deutsche Bank completes. Ashley stepped down last year as a Frasers director but retains a controlling stake, in addition to a big pile of money he gained from the 2021 sale of Newcastle United to an investor consortium led by Saudi Arabia’s sovereign wealth fund.

Asos declined to comment.

From FT tonight:

People following the situation have heard rumours ASOS has attracted takeover interest from an international predator.

Some people following the situation have heard a company based in Turkey with a multibillion dollar valuation is the suitor stalking ASOS.

One person following the situation had heard the Turkish company has been holding talks with Bestseller, one of ASOS’s largest shareholders with around a 26pc shareholding, about making a joint offer for ASOS and made last year about a deal.

Could Mike Ashley now be preparing to quickly scupper this deal with his own hostile takeover bid?

I think things will happen very quickly now. Asos execs already admitted at the press call they are ‘braced’ for a takeover bid at ridiculous current SP levels.

And a reminder of statements made by Ashley group when he first bought a chunk.

From bbc news:

The owner of Sports Direct has become the fourth-largest shareholder in online fashion retailer Asos.

Frasers Group, which is owned by billionaire Mike Ashley, now owns 5.1% of Asos after building up shares in the company that holds the Topshop brand.

The company has bought up a number of UK retailers over the past few years spanning sportswear, fashion, furniture and bikes.

"Frasers Group has extensive ambitions to grow the business inside and outside of the UK and is constantly exploring the potential for further expansion," the company said.

The retail giant added the move was the latest example of its "its drive to expand and acquire businesses and brands that can strengthen Frasers Group".

I think you may have your answer as to where the takeover will come from. More likely Ashley than Apollo. Ashley acting quick now though with the Apollo rumours

Shorts very exposed now. Ashley buying - I think he’ll quickly aim to become main shareholder now R TRowe sold a load. He’ll then make his move direct to shareholders. This is huge for him. The man has a big ego. He wants this.

A lot of chatter building about Apollo about to make a play for boohoo over on that board. Interesting.

May 16 (Reuters/PA PRESS BUSINESS) - The following are the top stories on the potential business prospects and story ideas.

- U.S. private equity firm Apollo Global tipped to make a play for youth fashion business Boohoo. Sources say Apollo now has advisors investigating the potential. AG said on Monday that it does not intend to make a takeover offer for

British oilfield services and engineering firm John Wood Group.

- Ofcom, Britain's communications regulator, said it launched an investigation on Monday into Royal Mail's failure to meet delivery targ

Yep it's happening.

Just looking at the PA and Reuters wires here in the news room at my day (night) job and now lots of calls in to Boo and Apollo by reporters here.

Anything could happen tomorrow.

https://www.proactiveinvestors.co.uk/companies/news/1015171/boohoo-in-the-shop-window-as-results-show-path-to-recovery-1015171.html