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Billie, the RBI ruling regarding 'round tripping' where money leaves india (FLFL in this case) & finds its way back in (via Koovs), has totally scuppered any further funding from FLFL.

There is no way of getting any funding from India whilst this is in force.

The only alternative mechanism is by way of getting money from one of FLFL backers (Blackstone, Amazon etc) from outside of India.

It has been nearly two months now & surely Koovs & FLFL must have an idea if RBI are going to shift their position.

Personally, I think we have to look outside of India. The problem is that every single shareholder that has taken part in a placing has been stitched up. Koovs are now onto their third broker, after Peel Hunt & Whitman Howard decided that they had enough.

It is now up to Canaccord Genuity to sell the story to new Investors.

Unless there is real heavyweight backing from the Chairman Lord Alli, I can't see any money being raised until the two clowns at the top are replaced. The CEO Mary Turner & CFO Robert Pursell have bought the share price down from 80p to 3p

Very interesting to see who the Chairman of Silvergate Media, Lord Waheed Alli's media company is. William Astor 4th Viscount Astor

https://en.wikipedia.org/wiki/William_Astor,_4th_Viscount_Astor

Samantha Cameron is the elder daughter of Sir Reginald Sheffield, 8th Baronet[3] and Annabel Lucy Veronica Jones. Sir Reginald and Annabel married on 11 November 1969. The couple divorced in 1974, after Samantha's younger sister, Emily Julia Sheffield, was born in 1973.[4]
Annabel later remarried to William Waldorf Astor III

So Viscount Astor is the Stepfather of Emily Sheffield, who is a non Executive Director of Koovs!

"When a person or group acquires interests in shares carrying 30% or more of the voting rights of a company, they must make a cash offer to all other shareholders at the highest price paid in the 12 months before the offer was announced "

http://www.thetakeoverpanel.org.uk/the-code/download-code

Now this could get tricky & the reason that Kishore Biyani paid the token £250k at 28.36p in the September placing for 881,523 shares. This is the one question that nobody inc Koovs have answered. I have asked Strand Hanson (Nomad), Newgate Communications (PR Firm) & the whole management team.

Black Diamond pointed this out to us previously.

But surely this also stops FLFL making an offer less than 28.36p??

Now if RBI ease restrictions & FLFL do not want to pay 28.36p a share (they have reneged on the deal before), £6.5 million invested at less than 28.36p will take them over 30%, so under the LSE rules, will have to make a cash offer of at least 28.36p a share.

Now I wonder if Koovs forced FLFL into this as an insurance policy to prevent a cheap takeover by them or anybody else??
The £250k was a token amount- a weeks worth of funding! This must have been Alli's idea, protecting his investment & company.

Thoughts guys?

When I was an early investor in Boohoo, I also thought that Boohoo would just be a female brand, but the BoohooMan has really taken off.
As an investor in both Boohoo & Koovs, I was intrigued to compare the quality of the merchandise. The Boohoo gear was just like stuff from the local market, some of it made in Turkey.
I managed to get a shipment of clothes from Gurgaon. There was no comparison. Each item was well packaged & the quality was excellent & true to what I had seen on the website.

Can you contact me on Twitter, I'll send you a couple of bits

https://twitter.com/Trebuchet_Kid/status/1203223224831676416

Interesting to see that Koovs own brand has shot up to 2310 items, an increase of 500 from last week & the highest I have ever seen!

https://www.koovs.com/women/brand/koovs/

https://twitter.com/Trebuchet_Kid/status/1203223224831676416

Looking at the price action over the last week, this is not indicative of a company about to fold

Looking at old rns’s, only last August, Lord Alli, Emily Sheffield & Nina Amin bought about 11 Million shares between them at 15p when figures were rubbish!!
That was after £12 Million was raised at an oversubscribed placing also at 15p by Whitman Howard
Koovs are bigger & better now!

Koovs are clearly giving FLFL every opportunity to honour their deal, but the RBI are hampering progress due to the 'round tripping' issue. Until the RBI issue is sorted (which could take many months), we can forget getting any money out of India

It has been seven weeks now & surely Koovs new broker Canaccord Genuity must be gearing up for an 'emergency placing'.
If it comes, it will be interesting to see at what price with the blended deal & previous placings being at 15p.

Judging from the 2 million shares bought & declared after hours, someone has been given the nod, as is common with AIM companies.
It has been exactly 7 weeks since FLFL notified Koovs about the RBI issue. The protracted period that Koovs warned about is now over as far as I am concerned.
FLFL had enough time to reapply & sort their crap out.

What do you guys think?

On a positive note, could be

1/ some kind of funding from FLFL has been approved by the RBI

2/ Some kind of placing here in the UK

3/ a loan provided by Alli or others

4/ an all share buyout (which unless at least 15p will never be voted through)

ps, all this on the day that the BOOHOO founders Carol Kane & Mahmood Kamani sold £150 million worth of shares- just imagine......

#Koov #Koovs
Really big trades being declared after hours by Market Makers trying to keep the market calm. Over 2 million shares bought!

The big trades coincided with that rise at 15:39

Looks like more then a punt to me....

https://twitter.com/Trebuchet_Kid/status/1202660017708707840

Looking at old rns’s, only last August, Lord Alli, Emily Sheffield & Nina Amin bought about 11 Million shares between them at 15p when figures were rubbish!!
That was after £12 Million was raised at an oversubscribed placing also at 15p by Whitman Howard
Koovs are bigger & better now!

Koovs are clearly giving FLFL every opportunity to honour their deal, but the RBI are hampering progress due to the 'round tripping' issue. Until the RBI issue is sorted (which could take many months), we can forget getting any money out of India

It has been seven weeks now & surely Koovs new broker Canaccord Genuity must be gearing up for an 'emergency placing'.
If it comes, it will be interesting to see at what price with the blended deal & previous placings being at 15p.

Thanks!
It does show that they are carrying on as normal.
Cover Story also have a full range nearing 600

As I said yesterday, I don't believe the RBI will approve in time, But Lord Alli has a massive ego & will not let this fail- he will look very bad, trust me.

On the other hand, he can come out of this in full glory if he pulls it off, but it will mean getting cash from outside of India

An excellent spot by Trebuchet Kid

https://twitter.com/Trebuchet_Kid/status/1202544037657554944

A very interesting offer just out on Koovs, giving away vouchers to be used of full price ticket items.
Valid from 10th Jan to 9th April next year.
Why do that if the company was about to fold??

https://www.koovs.com/women

Black Diamond, the problem is that Koovs runs out of cash in three weeks!

There is very little time left to negotiate.

Amazon could be the saviour here I agree

This is great news

https://www.business-standard.com/article/pti-stories/total-fdi-inflow-into-india-increased-in-2018-19-govt-119120400689_1.html

The minister said the total FDI inflow in 2018-19 was $62.00 billion, in 2017-18, the total FDI inflow was $60.97 billion, in 2016-17, it was $60.22 billion and in 2015-16, it was $55.56 billion.

Thanks Black Diamond & thanks for your valuable input.

Are you confident that we will get funding from FLFL/ Biyani in the next couple of weeks?

The problem Tom is that there is no transparency from both sides, so we are trying to fill the gaps.

It has been seven weeks since FLFL told KOOVS that they had to reapply.

It is totally unacceptable leaving shareholders in the dark.

Have FLFL even reapplied?

Tom, do you think that FLFL set Koovs certain conditions before completing the funding, ie a drop in losses, increase in margins? Or am I just being paranoid.

Its just that I've seen very little in the last 18 months regarding this tie up. Just three concessions thus far is a little odd.

Remember that Future Groups Brand factory have paid £1 million to use Koovs technology

https://www.newindianexpress.com/business/2019/dec/04/at-brand-factorys-annual-shopping-festival-pay-fee-to-shop-free-2071067.html

Biyani had earlier said he expects online sales of around Rs 1,000 crore this financial year. “We are investing in the online business and trying to understand the space again after we have lost money in Fab Furnish and had to shut operations,”

Imagine what an idiot Biyani would look if he let this collapse after screwing up with Fab Furnish.

His e commerce dream will be totally destroyed!!!

Last year, a small loan from Alli started the ball rolling with the share price moving from 5p to 28P!!!!

The Koovs rns's are factual & written in conjunction with legal advisors & Strand Hanson. There are strict regulations here in the UK about what is written in rns's.

So when a deadline is given, that will be in conjunction with Biyani/ FLFL!

Biyani/ FLFL reneged on the first deal when they were supposed to complete the funding within 6 months of the equity raise.

Biyani/FLFL once again reneged on the second deal, by stalling the funding..

After 7 weeks he has still not reapplied to RBI thus making Koovs run out of money.

Because of his stupidity, he has lost FLFL £9 MILLION out of their £10 MILLION investment- top man!!

Unlike you, I have met Koovs management three times & am in a position to judge them.

My views about Biyani are pretty tame compared to the many large shareholders I have spoken to. They don't trust him either.

Obviously I would love to be proved wrong & Biyani stumps up the money he owes Koovs. But I don't believe he wants to pay 28.36p per share.

If Biyani had any morals, integrity or honesty, he would pay up. I don't believe that he has any of those qualities, so Koovs will have to look elsewhere.

If I'm proved wrong, when next in India, I will buy you a drink!

British fast fashion outfit Missguided have re entered India via Koovs & today have increased their range by 50% going from 42 products to 64!!

Not the sign of a company about to go under!!

https://www.koovs.com/women/brand/missguided/

https://www.instagram.com/nitinpassi/

https://en.wikipedia.org/wiki/Nitin_Passi

Worth £250 million!!!