Member Info for putneylad66

Koovs went to the City & got funding at 15p. Many bought through Optiva Securities & I know at least one Investor who has had enough & sold nearly a million shares at a huge loss because of the way management has conducted itself & not managed shareholders expectations

Koovs can forget ever going to the public again. Not only have they destroyed shareholder value, but they have scant regard for shareholders.

The CFO Robert Pursell acts as the Company Secretariat. He now refuses to engage with loyal shareholders. Jambon has 4 million shares. I have a lot too. We own a part of this company, yet someone who hasn't bought a single share in Koovs is refusing to engage with us. The Chairman Lord Waheed Alli has not replied to a single email of mine in over three years. This a man who IPO'd this company at 150p, now 5p!

When the CFO was promoting the 15p fundraise, prospective investors just needed to ask one question. "How many shares do you own in this company"?

Together they have destroyed shareholder value. People that do this to companies & shareholders must be held to account.

Long standing poster on lse Jambon has just been handed a permanent suspension for daring to criticise Koovs management.

Can not say any more for now. Koovs management already blocked him & me on Twitter because we dared to engage with disgruntled customers.

I will continue his legacy. Shareholders will not be silenced. He dared to start the gathering of 5% of shareholders to force an EGM- I WILL CONTINUE THAT!

Yes Spencer, a trading update in a week or so. This will show Q2 sales & obviously give H1 update.
Looking to build on the momentum in H2 with another 5 concessions opening in the super uber modern Central Malls (Future Group) across India.
I'm back in India in a few months & will be visiting some of these Malls to see the Koovs offering.
I'll be bringing back some Koovs goodies : )

Yes Matt, the CFO Robert Pursell categorically told shareholders at the AGM that they have enough money & that the FLFL money will arrive when needed.
I assume the £250,000 was given to reassure shareholders that the deal was still on.

Great post Matt!
Koovs have a great opportunity in India & hopefully Kishore Biyani, Rakesh Biyani & Avni Biyani will steer Koovs on the path to profitability.

Q4 was 67%, Q1 was 104%

I agree that if we get a third Quarter of good growth, this could rerate sharply.

The current board are an absolute disgrace with the way they treat shareholders & the way they have destroyed shareholder value, blaming everything but themselves & will hopefully be removed soon.

On the 7th May, Koovs boasted about their 'experience & expertise'

Shareholders warned them of the massive rise in complaints from customers at both the EGM & AGM. They ignored our concerns.

The Result?

https://www.financialexpress.com/industry/sme/flipkart-offers-better-customer-experience-than-amazon-snapdeal-shopclues-myntra-says-forrester/1714827/

Koovs has just lost its top spot from 2017 & 2018 for customer satisfaction & has slipped to third place.

Koovs must engage with shareholders instead of totally ignoring us.

Yes Chinner, the deal is still ON!
Koovs received £250,000 the other week.

AWBOB, when I first got in here, there was triple digit growth & minus 20% margins. They told me they were scaling up growth & creating the brand. I disagree with you about margins. They are still way too low & if Koovs ever wants to get to profitability, they need to dramatically increase margins.

Remember that their spend is already £1 million a month. They are running out of cash fast & will never be able to raise funds with Retail Investors again after stitching up the last 15p Investors.. The HT deal is all but over too. At this price, the company will be diluted into oblivion if any further advertising credit was bought with shares.
The only Investor left is Kishore Biyani's Future Group. They are holding back the cash Koovs are due. For some reason, they only stumped up £250,000 the other week, a weeks worth. I am still awaiting a response from management as to the reason why.

Due to the Koovs Board & those representing them ignoring my concerns over the recent funding & warehouse debacle couple with the collapsing share price, I have written to them informing them that I have contacted The FCA with regards to their behaviour.

I have asked the FCA to instruct the London Stock Exchange to force Koovs to rns that all is ok. I have also passed on a dossier of my concerns about the misleading & all the lies that Koovs have told shareholders.

That's the problem, they keep changing the terms & conditions. They stated that they were going to be more transparent, but they are doing the opposite.
The Chairman Lord Waheed Alli stated that they woul provide shareholder value, they are doin the opposite.
This failed Board of Directors need to go. Hopefully Kishore Biyani of Future Group (the largest shareholder), has also seen what we have all seen & kick them into touch.

There needs to be huge managerial restructuring.

We both took time off work to vote at the EGM (June 25th) for the 28.36p placing. We were assured that this this was the final obstacle & that funds would be received during the summer. They also assured us that there were no warehouse issues, even though I had uncovered them on social media.
At the AGM, they finally admitted that a representative had told customers that there HAD been warehouse issues. They lied.
The extra funding that we were assured of arriving by the summer didn't arrive. Another lie. They then said it would arrive in tranches (not mentioned before).
They then insult the market & shareholders with one weeks worth of funding £250,000.
They refuse to tell us why they only received this paltry amount.

Tony, we're both long, very long. We both attended the EGM & I attended the AGM with proof of our large holdings.

Just because you are a critic of a failing company, it doesn't mean that you are short. That is a lazy statement.

We just want answers at to what is going on & why they continue to ignore shareholders. I am willing to meet any other genuine shareholders.

They treat shareholders with such disdain. They can absolutely forget ever going back to retail investors for any future placing after stitching the last lot up.
They actually said the fall is due to 'Day Traders'!! This was witnessed by a representative from Newgate Communications.

The Chairman Lord Waheed Alli has promised shareholder value here. I have repeatedly questioned this & failed methods & strategy, but for over three years, he has totally ignored me. Didn't even bother attending the EGM or AGM this year.

Imagine how those who recently bought in at the 'oversubscribed' 15p placing now feel? They were sold a story that, we all were.
I have been in contact with a client of Optiva Securities who participated in that placing with nearly a million shares. He has now totally sold out at a huge loss because of the way management have conducted themselves & crippled the share price.

AWBOB, with a million share & a few hundred grand down, are you not that concerned with the way the Board has destroyed shareholder value with it's big talk & no walk? There is no shareholder engagement & what little they do say falls into the realms of The Twilight Zone. They actually said that the fall in the share price is down to day traders. They made this ridiculous statement at the AGM.
Those associated with Koovs aren't much better. Newgate Communications (PR firm) has done very little & is way out of its depth. Strand Hanson haven't the decency to reply to emails. Koovs Board also ignore emails.

Shareholders have a right to get answers to their concerns, especially as this failed company has gone from its 150p IPO to the current 5p.

Koovs have blown £100 million since IPO, so it's fair to say that there are those associated with Koovs that have done rather well.

The reason sentiment is so low is purely down to the way Koovs management have behaved towards the market & shareholders. For longer term shareholders, it has been excuse after excuse, from 150p down to 5p.
The current management then talk about their experience & expertise- really!!

The final straw was how the latest funding round, which has dragged on for over a year keeps being chopped & changed to the advantage of Future Group. The funding the other week, that we were told was forthcoming of £250,000 was an absolute joke. This is literally a weeks worth.

Myself & another shareholder on here own 6 million shares between us, but our concerns are totally ignored by management. The Chairman Lord Waheed Alli has not had the courtesy or decency to reply to a single email of mine over the last 3 years, even though I believed all his waffle & big talk during that time.

Optiva Securities clients bought in at the 15p placing. How do they feel now. I spoke to one who has totally sold out now at huge losses.

I could go on & on...…

https://www.instagram.com/koovsfashion/

Koovs needs to sort out the barrage of complaints on social media especially Instagram. I mentioned this to the at both the June EGM & the September AGM. They obviously took no notice.

Yes, that's right- the EGM & AGM where only the CEO & CFO bothered turning up to.

Page 28 shows the following:

CEO Mary Turner on £250,000, but waives £200,000 of this & has 20 million shares given as options.
Chairman Lord Waheed Alli does not take a salary
CFO Robert Pursell on £175,000 basic & gets health insurance & pension, all together £181,233
Nina Amin £50,000
Dame Gail Rebuck £50,000
Avni Biyani £50,000
Emily Sheffield £75,000 inc a £25,000 'consultation fee'

Very generous packages for a tiny, failing loss making company trading at all time lows where every single retail investor is massively down in their investment after believing years of waffle.

From the 2019 Annual report, it is interesting to see who gets what.

Welcome back SR LOL!

Of course Koovs won't fold. FLFL have too many tie ins & will lose a lot of money, as will Lord Alli.

Kishore & Rakesh Biyani have sat back & seen what this lot are capable of. I can see the CFO & CEO replaced very soon.

Chinner- since IPO, Koovs management have put profit forecasts back year after year. They have always over promised & under delivered. So forgive me if it comes across that I don't trust them.

pthc- what are the many reasons for only receiving a paltry £250,000 in funding? I actually thought that there had been a typo!

Black Diamond- I agree about the CFO getting £175k being questionable considering the performance of the company. Kishore Biyani could provide a whole team of accountants for that in India. This CFO hasn't bought a single share- that's confidence for you!

It's not only long term holders like myself who have been shafted here, but recently, many shareholders bought at 15p through the placing via Optiva Securities. They were sold a dream & some have now sold at huge losses.