Member Info for putneylad66

Alli has had a weak hand in India from the start. He just didn't have the contacts over there. He should have partnered with a big name from the start.

Anyway, we are where we are. Funding woes & overspending have been the story so far. I believe Koovs would have folded & been bought out on the cheap if Biyani had not saved them.

It almost felt that the share price was allowed to collapse with the way the management behaved.

I still don't get the terms of this funding, but once complete, I'm sure we'll be in double figures again.

The PR is non existent at the moment, but I have been personally assured that a detailed plan is in place. Maybe they are just waiting for Ruffer LLP to confirm their exit before it is all played out ; )

I believe this will double within a few weeks.

Can't wait for Q1 trading figures!

I'm not here to defend management, as I believe that they are totally incompetent & have mislead shareholders & the market over the last 2 years. I have even reported their latest behaviour re the funding debacle to the FCA.

The CEO Mary Turner has only bought 270,270 shares & the CFO has never bought a single share!

BUT I will say this. Do you even know the definition of a recession?

India is growing at between 7% & 8% per annum, so nowhere near a recession.

Hope that clears things up for you.

Koovs also featuring twice in the top 10 for most watched ads in India for April 2019!

https://www.afaqs.com/news/story/55010_Top-10-Most-Watched-Indian-Ads-on-YouTube-in-April-2019

Koovs smashing it on social media- 17 million views on YouTube since yesterday with their latest ad!!

https://www.youtube.com/watch?v=x-3wrPYeV5Y

Who are you with your first post on here mmm...…?

Of course there is an improvement.

It's a recovery play, only Ruffer LLP still dumping is holding this back. They can't dump forever & can't have much left now.

Koovs new snazzy corporate site- plenty of info there for prospective investors!

http://www.koovs.com/corporate/

No doubt that this should be turning around after yesterday's great news, although the funding structure was a little complicated.

Unfortunately, looking at the size of the trades, I don't think they are just day traders.

Some chunky sells- Ruffer LLP still offloading? The Capita register should be updated by now (quarterly) so Koovs must update. They generally need prompting though.

'Our experience & expertise' was funny to read. I truly believe that the management under CEO MARY TURNER & CFO ROBERT PURSELL are totally delusional & living in cloud cuckoo land.

The news was good, but because of a lack of trust & zilch credibility of the management, the share price has suffered.

Why no Director Buys?

Pursell earns £175k a year & owns virtually no shares. Emily Sheffield earned £75k a year (what does she do?)

The management needs to instil some confidence back into this company.

On a positive note, the CFO Robert Pursell has maintained that if something was wrong, they WOULD HAVE notified the market. He is aware that if he is lying, his career is well & truly over & a prosecution could ensue.

So we have to assume that everything is ok & that the funding will be announced with a trading update on his return.

Biyani & Alli need to take a long hard look at how the (invisible) CEO Mary Turner & CFO Robert Pursell have conducted themselves. Their reputations, whatever the outcome of this funding debacle are tarnished. They have destroyed all relationships with shareholders & now need to move on to pastures new.

What I don't understand is the massive contradiction in what is going on here.

I have an email from the CFO Robert Pursell stating that if there was anything wrong, they WOULD HAVE TO NOTIFY THE MARKET. So we have to assume then that everything is ok.

Everything ISN'T OK, as the March 27th deadline was missed & 6 weeks have passed since Koovs stated that funding would close SHORTLY.

I will let the FCA decide as to what rules are being broken here & if they are, Turner & Pursell will be held accountable.

Alli & Biyani must now seriously consider if it is worth keeping these two liabilities on board.

Koovs has great potential in India, under the right management.

Also disappointing is that nobody from Newgate Communications is bothering to respond to shareholders concerns.

adam.lloyd@newgatecomms.com

emma.kane@newgatecomms.com

I'm not waiting until the AGM, we need to act NOW!

I have tried all the normal channels with Koovs, but have got absolutely nowhere. Myself & other shareholders have been mislead with regards to this funding debacle.

I don't know under whose instructions. but the NOMAD Strand Hanson have refused to reply to my concerns. Whitman Howard the corporate broker have also refused to reply. Newgate Communications have refused to reply, both Adam Lloyd & Emma Kane.

Is this the way to treat shareholders?

This is why I have asked the FCA to look into the conduct of the CEO Mary Turner & her sidekick CFO Robert Pursell.

Is there anything else shareholders can do as the company & its advisors continue to mug off shareholders?

How are they allowed to get away with this behaviour?

I actually feel like turning up to their London Office & demand to see somebody from the company.

So, so frustrating seeing them continuously getting away with treating shareholders like this.

An EGM perhaps?

Jambon, as you know, I have been extremely critical of the way those two have run the company, misleading shareholders with funding progress etc etc & having scant regard towards shareholders.

They are bang to rights with their latest shenanigans & I have forwarded all the emails to the FCA now at MIUMailbox@fca.org.uk

I previously asked all shareholders to come together to formulate a plan in dealing with management, but nobody was interested.

Koovs don't care if we whinge & moan on bulletin boards, they don't care about emails, so the only option left is to deal with them in an official manner.

I have never been involved in a company that behaves like this & also gets away with it.

Jambon- if you want to chat away from here- you know where to find me ; )

These were the exact words from the CFO in January when I raised my concerns in the delay in funding.

Completion of the equity raise only occurs once the shares have been
admitted to AIM. The shares for the recent equity raise were admitted
on the 27th September 2018, as announced on the 24th September 2018.
This gives FLFL until the 27th March 2019 to complete the second
investment.
Thanks
Rob
Rob Pursell
Group CFO

6 weeks ago, they state that funding will close 'SHORTLY'.

They continuously carry on treating shareholders as if we are idiots. I have had no choice but to inform the FCA of their behaviour, forwarding this information & have had this reply.

Dear Mr xxxxx,

Thank you very much for your email below. This matter has been passed to the Primary Market Oversight department (PMO) of the FCA. PMO is responsible among other things for monitoring issuers’ compliance with the Market Abuse Regulation or MAR. We will pass your concerns to our team that monitors the live market. If you have any further information on this matter or further complaints to make, then please let us know.

Yours sincerely

Market Integrity Unit
FCA

Have tried contacting Koovs re the ongoing funding debacle, but got an out of office reply from CFO Robert Pursell stating that he is on annual leave & will return on April 23rd.

They stated on the 7th March that funding will close 'SHORTLY'! That was 6 weeks ago!!!!!

They stated on 4th July that FLFL would make additional investments WITHIN 6 months of completion of the equity raise (which CFO Robert Pursell informed would be on March 27th). That date has long gone.

They just carry on behaving as if nothing is wrong, with their laid back nonchalant attitude.

I have been openly critical of the two Board members who run this shoddy show for quite some time.

Any other company would have got rid of these two failures by now.

It really is time that the invisible CEO Mary Turner & the CFO Robert Pursell now step side or be sacked. They haven't a clue how to run a company & more importantly, how to treat shareholders.

Jambon- have you had a reply from anybody who knows what is going on here|?

Moving on from the technical services contract, this news clearly illustrates that Future Group are moving forwards with their relationship with Koovs.

This is NOT the behaviour of a company about to stitch up Koovs as has been suggested by some.

Yes the funding has been slow, but it will come.

As you guys know, I haven't much time for HT Media after they dumped some of their stock first time around. Lets hope that they do not take advantage of the current delay.

https://tech.economictimes.indiatimes.com/news/people/future-groups-data-science-and-tech-division-hires-former-entrepreneurs-and-top-executives-from-online-firms/68784612

Future Group’s data science and tech division hires former entrepreneurs and top executives from online firms
They have been tasked with building a customer credit platform, last-mile delivery capabilities, a rural distribution model, the group’s fast fashion brand and sachet sized insurance products.

“Tathastu is a new organization that is built around a distinct culture that encourages speed, agility, risk-taking, and has a day-zero mindset,” said Kishore Biyani, CEO of Future Group. "In hiring, we have a bias towards founders or entrepreneurs who enjoy the challenges and thrill that come from creating something new.”

Apart from these, Tathastu has also leveraged talent from Vulcan Express, Koovs.com and others to further its tech-first cause.

It does not look like the rise yesterday was from a leak re funding/ trading. The volumes were pretty low.

We will not 'officially' know if Ruffer LLP have finished dumping until the Capita register is updated (quarterly) in May.

Does anybod think that 'certain' people have been tipped off about Ruffer via market makers or Ruffer themselves?

From my calculations & looking at the sells from the last several weeks, I estimate that their last 5 million shares should be disposed of by now.

Thanks- told him I haven't been impressed with communications from the company thus far. Shared some emails with him too that contradicted what I have been told. Also cc'd Emma Kane. My email to Strand Hanson was acknowledged.
Jason Streets from Hardman & Co basically said that things in India are always slow.
No reply from Whitman Howard, but I have been informed elsewhere that they will release a report soon.

I suppose it's good that the CFO has offloaded these responsibilities to Newgate- gives him more time to get on with his job.

Someone has already been building a very large position, taking those shares that have been dumped by Ruffer LLP ; )
Ruffer had just over 5 million shares several weeks ago.

Looking at the sells over that period, I believe that Ruffer have totally exited now. It was only a matter of time.

Most shares are in sticky hands here. Funding will close shortly. There is NOTHING wrong as CFO Robert Pursell has told me & other shareholders.

I expect a trading update soon & new Board memeber to be announced. Did email Adam Lloyd- but no reply.

Those that got scared into selling by a small 'concerted outfit' could end up regretting that decision.

AWBOB there was an end of year trading update in the first week of April in 2015, 2016 & 2017. Last year Koovs announced in March together with funding plans.

So from history, there will be a trading update this month.

I also agree that the CFO would have trading figures in real time, so knows on a daily basis as to what is occurring here.

The 15p per share funding will be completed shortly. Koovs have assured me that if anything was wrong, the markets & shareholders would HAVE to be notified.

So from that, we have to assume that all is ok.

As many longer term holders know, I am a large shareholder who has had serious misgivings about the Management of Koovs (70p to sub 7p).

Regarding the current debacle on funding news, I have written to the NOMAD Strand Hanson, the corporate broker Whitman Howard, PR firm Newgate Communications, Hardman & Co & Koovs (CEO Mary Turner & CFO Robert Pursell).
Jason Street at Hardman has been great, but not had a reply from anybody else.

Is this the way to run a company?

They have virtually destroyed their reputation & shareholder value with this behaviour.

Has anybody contacted any of the above re as to what is going on?

I stated before & I will state again, shareholders need to work together to find out what is going on. Being told to be patient is just not good enough. I did that a while back & kept my mouth shut when the share price was nearer 50p!

Are there any other avenues we can explore? An Egm perhaps??