Member Info for putneylad66

Probably days away from 15p funding announcement.

This should coincide with an update re their partnership with Future Group & a new Board member.

All followed by a trading update in early April for YE 2019. Any signs of improvement in revenues & margins is what I am looking for.

The disastrous UK venture launched by CEO Mary Turner in 2017 is all over now.

ALL Koovs products have now been pulled from the SimplyBe platform.

Trebuchet Kid on Twitter has been notified from the marketing team at SimplyBe that they will NOT be stocking any more items from Koovs.

I wonder how much money they wasted with this stupid idea? Hopefully, whoever though of this ridiculous idea is held accountable.

One of the many reasons why I don't rate the current management.

Only a couple of weeks to go before funding is finalised & a new board member is appointed. Hoping for a major Board reshuffle.

With the Technical Services contract over 24 months having been signed with FLFL, does anybody else think this could be a way to increase flagging revenues for the future?

Remember that Koovs have stated that they have invested £70 million in the their technology, product & platform.

India has a nascent e commerce sector. There are thousands of up & coming technology platforms looking to expand/ enter the market.

This could be more of a 'spin-off' venture than most may have anticipated.

It's pretty good news, but had a luke warm response due to a seller still around (which I believe are still Ruffer LLP)

Berkshire Media awards Koovs with India's Brand of the year 2018

https://www.instagram.com/p/Bu58gpOgmfZ/

That's great cutting edge research Jambon- keep it up!

What is noticeable about the YouTube video is that it has 27k likes & 19k dislikes.

Jambon- unless you are living in a parallel universe- can you please tell me hand on heart that you are happy with what is going on here?

Someone sold 160,000 shares earlier at well below the Bid.

We are all on the same side, trying to figure out what exactly is going on here.

Are you content that there has been absolutely no news from Koovs on any front for nearly 3 months now?

As a large shareholder- I am not happy!

So instead of criticising, belittling & re-posting old posts, why not do some research?

Shareholders have a right to post criticism of the management, considering the mess they have got the company in.

The shareprice from 70p to 7p tells the story.

So please excuse us for not having much faith in the current management.

Before you came on the scene, ruining this thread, a lot of good research was done.

Yes, it was me who discovered that HT Media had sold 10% of their stock from a recent placing. This was not announced by Koovs at the time.

So, yes, it was shareholders that notified the market.

https://www.techcircle.in/2016/12/23/exclusive-ht-media-sells-small-stake-in-fashion-e-commerce-venture-koovs

https://techstory.in/ht-sells-equity-shares-koovs-2312/

HT Media has sold its equity shares invested in Koovs Plc, which owns and operates fashion e-commerce website Koovs.com.

Piyush Gupta, Chief Financial Officer at HT Media told Techcircle, that the company “exited 10% of our holding in the market last month and (is) not intending to exit anymore at all”.

It doesn't help when shareholders have to find out everything for themselves because Koovs have shut up shop. They have not released an rns for nearly 3 months now.

Forget a trading update, that will not happen until April at the earliest. But why are they not letting us know anything that is going on ie the tie up with Future Group.

Surely something has happened in the last 3 months!!!!

Shareholders deserve better.

It is a big deal because it is weighing on the share price. It is holding buyers back. Why would anybody buy shares now when Ruffer are still possibly dumping on the market?

Once Koovs have confirmed that Ruffer have exited, Buyers could flood in.

Amazon plans to launch a new Middle East marketplace, two years after buying Souq for $580 million
Amazon is launching a new marketplace targeting Middle Eastern countries Saudi Arabia and the UAE.
The company is telling sellers to focus on Amazon's main site instead of Souq.com, the Dubai-based online retailer it bought for $580 million in 2017
https://www.cnbc.com/2019/01/29/amazon-new-middle-east-marketplace-rivals-souq.html

It looks like Souq.com will be phased out which will cause a massive dilemma for Koovs. Chairman Lord Alli stated this only last year

"I love Amazon. I think Jeff Bezos is an extraordinary man. However, people don’t want to wear a dress that comes from someone who also sells garden equipment and toilet paper."

http://www.businessworld.in/article/-If-I-Had-Amazon-s-Resources-I-Would-Be-100-Times-Bigger-/07-11-2017-130780/

We have had no guidance on how the international expansion in the Middle East & UK (SimplyBe) has been going after the launch by the CEO Mary Turner).

They should concentrate on India before trying to crack international markets.

Does anybody know how Koovs have done Internationally?

Again from Trebuchet Kid on Twitter

Possible news flow
March
FLFL £10m cash injection at 15p
Update on FLFL strategy (store openings)
New Board member
Ruffer LLP exited
Amazon FLFL deal finalised
April
Trading update 2018/19

From Trebuchet Kid on Twitter who has had correspondence with Ruffer LLP

The 9th Aug TR1 was 8% to under 5%. The shares remained the same at 15,625,000. Percentage change due to dilution. I have been notified by Ruffer that they do NOT have to notify any further drop.

From Ruffer LLP

"Discretionary Investment managers (such as Ruffer LLP) are not required to report on holdings once they have fallen below the threshold of 5%. This exemption also applies to UCITS schemes, Authorised Unit Trusts, Authorised Contractual schemes and ‘recognised schemes’."

Trebuchet Kid :Koovs last checked the register (Capita) on Feb 18th which showed 5.55 Million shares. My personal opinion is that they have dumped a lot more since. Until Koovs check the register again, there is no way of knowing, until Koov notify us that Ruffer LLP have totally dumped.

Pascha- I don't know who & where you get your information from, but you were spot on With Ruffer exiting AIM & subsequently Koovs. You were also right about the HT Media deal re Koovs giving them cash & not vice versa as stated by Jambon.

Are you seriously stating that the £10 million cash injection will not happen? I find that very worrying as that would cripple the share price.

Can you give us any more information- thanks!

Pascha- I agree the reporting for bullying has got absolutely ridiculous & rather embarrassing.

I really do hope that statement from the CFO is not a fob off as you state. He would be in big trouble with the FCA if that was true.
I take what he says with a pinch of salt anyway, as he's on £175k a year & hasn't had the decency to buy a single share on the open market.
Check out the non exec directors on £50k a year- what do they actually bring to the table?

And let us not forget Emily Sheffield (David Cameron's sister in law) on £75k a year (inc a £25k consultancy fee). What has she actually done?

The sooner Future Group come in & get rid of these overpaid failures- the better!

Before I get reported for calling the BOD failures- just look at the share price over the last couple of years, 70p to 7p

With no news since Dec 13th, this really does feel like death by a thousand cuts. The most baron period of news since 2015 when the CEO Mary Turner was appointed (21st July 2015). Hasn't she worked wonders for the company!

Well done Koovs for keeping shareholders updated as to what is going on-thanks!

A media report citing sources said that the ecommerce giant is in the final stages of talks to get a stake in Future Coupons, a coupon provider owned by Future Group. Amazon is doing this to ensure it is in compliance with the new FDI policies under which it cannot have a majority stake in its sellers.
To ensure smooth transfer of shares here, Future Retail announced raising INR 2,000 Cr through the issue of warrants on a preferential basis from Future Coupons. This would help structure the Amazon deal, the report added.
The sources said that this investment was done primarily to raise funds from Amazon in the promoter group company, which will give it 8% stake in Future Retail through a combination of equity and debt instruments, and adhere to the government’s new rule

https://inc42.com/buzz/not-ready-to-give-up-on-future-group-amazon-may-get-stake-in-coupons-unit/

The US-based online giant was earlier in talks to acquire a stake in Future Retail, which runs more than 1,200 stores across food, grocery and general merchandise. Earlier this month, Future RetailNSE 1.36 % announced raising Rs 2,000 crore through the issue of warrants on a preferential basis from Future Coupons. This would help structure the Amazon deal, said two people aware of the development.

“This was done primarily to raise funds from Amazon in the promoter group company, which will which will give it 8% stake in Future Retail through a combination of equity and debt instruments, and adhere to the government’s new rule,” said one of the sources cited above.

https://economictimes.indiatimes.com/industry/services/retail/amazon-may-stock-up-on-kishore-biyanis-coupons-to-bag-future-retail-prize/articleshow/68177605.cms

Thanks to Trebuchet on twitter for finding the following:

The on/off Future Group deal with Amazon is back on track!!!

The deal was stalled due to FDI ecommerce rules coming into affect.

MUMBAI: Amazon is in talks to buy a stake in Future Coupons, a firm owned by Future Group promoter Kishore Biyani, to ensure that the global Web retailer is in compliance with the amended foreign ownership rules that bar ecommerce companies from holding shares in entities selling on their platforms.

The US-based online giant was earlier in talks to acquire a stake in Future Retail, which runs more than 1,200 stores across food, grocery and general merchandise. Earlier this month, Future ..

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