Member Info for putneylad66

Trading update a couple of days ago stated they are still reapplying.
Koovs said they would update the market.
If they had, Koovs would have notified the market.
FLFL have no intention of completing the deal, pretty obvious from their behaviour over the last year, where they delayed, then kept changing the terms & conditions of the deal.

From the despicable behaviour of Future Group FLFL towards funding & the 'convenient' stalling of the deal by the RBI, it is pretty obvious that any further financial contribution from FLFL will not happen. They have just messed about over the last year.

It has been two weeks since FLFL were told to reapply- they still haven't! That alone says it all.

Once Koovs have exhausted all avenues with FLFL, I hope that alternative funding is sorted out pretty quickly & that the professional relationship with FLFL can carry on. They both need each other.

I am confident that alternative funding will be sorted, but at the cost of greater dilution.

At this stage, six years in & on the verge of decent growth, Alli can't let this fail.

I hope he learns a lesson from this & has a better relationship with shareholders who have been proven to be right time & time again.

The share not being suspended, tells me that Koovs are close to sorting out short term interim funding.

Any thoughts guys?

The FLFL deal is dead & buried as far as I am concerned. They will not pay 28.36p a share when the share price is 2.7p

The HT Media funding will not happen at this price either.

The Board of Directors owe shareholders big time. They have badly let down shareholders with their shoddy performance & need to take part in an emergency fundraise/ placing or resign.

The Chairman Lord Waheed Alli has a personal wealth of £212 million (The Sunday Times Rich list)

The CFO Robert Pursell earns a basic £175k pa plus pension & healthcare benefits, but has never bought a single share!

Non Exec Directors Nina Amin, Dame Gail Rebuck & Avni Biyani all earn £50k pa

Non Exec Director Emily Sheffield for the last two years has earned £75k pa (inc a £25k consultancy fee).

The CEO Mary Turner gets £50k pa but millions in options, many of which have been realigned as the share was diluted.

They blow over a million pounds a month generating these kinds of revenues & margins. I wonder how much goes on expenses?

It's time now that they put their money where their mouth is.

Has anybody seen the Whitman Howard report 'Funding Implications'?

I doubt it makes good reading judging from the share performance since trading update.

What worries me is that after two weeks of RBI allegedly scuppering the funding deal & telling FLFL to reapply, FLFL have still not reapplied! They are in the process of applying.

FLFL have dithered, delayed & changed the deal. They are not serious about paying up, insulting Koovs by paying £250,000 (one weeks worth of funding) last time around.

Koovs need FLFL far more than FLFL need Koovs.

Koovs have been far too weak with FLFL & have been properly done over.

I very much doubt if the Chairman Lord Waheed Alli would run his private companies like this. He has squandered shareholder cash for years with his failed business plan here & has many questions to answer, which will have to be answered very soon, trust me.

Not exactly a mass sell off today. Anybody buying?

Koovs are sitting on H1 trading figure, I'm sure they'll release once they know what is going on with funding

Guys, the more I think of it, I believe the following has happened.
FLFL as we know have dithered & delayed the funding as much as possible, messing Koovs about & even changing the terms of the deal more than once.
Koovs thought that more funding before the presentation was needed for credibility & stability.
FLFL then stated that RBI have told them to reapply. (Personally I want to see the proof from RBI as I don't trust FLFL & Kishore Biyani in particular).
During the following week, Koovs have not had satisfactory replies from FLFL (proof) & so Koovs, out of spite & to teach them a lesson have cancelled the Capital Markets Day. FLFL being the largest shareholder have been hit the hardest.
For the share price to recover, FLFL have no choice but to sort out the funding one way or another.
Koovs were too soft & weak with FLFL from the start.
I doubt that Turner or Pursell will resign, because they believe it is FLFL at fault.

Guys, in light of recent events, I believe it would be beneficial to try & organise an EGM TO GET SOME ANSWERS.

I am trying to garner support. Jambon is still holding & has a significant holding.

Please contact on Twitter or ADVFN

masterboffin- what a day! How many 'darkest hours' can Koovs have lol!

They could have cancelled the Capital Markets Day on Monday with the delayed funding news.

I personally believe that they had a poor response to the Capital Markets Day. Who would want to see these two failures who have literally destroyed the company & share price by over 90%

A trading update is due. If Alli had any sense, a new management team will be immediately put in place.

Hoping that all the poor news is out now, onwards & upwards!!!!!

Where's the promised trading update?

Hopefully trading update Monday morning & change of management.

There you go, I was right about something being wrong here!

Price action never lies.

I wonder with the way the CEO Mary Turner & the CFO Robert Pursell have destroyed this company that it will be impossible for them to remain in post.
I wonder if they'll last the weekend?

Hopefully Nina Amin will become the CFO & Avni Biyani the CEO

Pursell in particular must never be a Director of any company ever again.

Alli needs to save Koovs NOW!!

I wonder with the way the CEO Mary Turner & the CFO Robert Pursell have destroyed this company that it will be impossible for them to remain in post.
I wonder if they'll last the weekend?

Hopefully Nina Amin will become the CFO & Avni Biyani the CEO

Pursell in particular must never be a Director of any company ever again.

Alli needs to save Koovs NOW!!

Someone with insider information is dumping. There is clearly more bad news that has not been rns'd.

THIS IS EXACTLY WHY I HAVE BEEN IN CORRESPONDENCE WITH THE FCA

I have never been wrong when it comes to price action dictating with what is going on here.

There is clearly something else wrong here apart from funding.

How much longer are the management of Lord Alli, Mary Turner & Robert Pursell going to continue to mislead & lie to investors?

Why haven't they updated the market with Q2 figures as promised.

Is the Capital Markets Day even going to go ahead?

The share price does not lie, something is wrong!!!!

I totally agree, they got wind of a problem many months ago I suspect. I told him this at the AGM, but he categorically stated that all was ok & that it was a legally binding document & that it wouldn't look good if they pulled out.

I told him that price action never lies. He blamed day traders for the drop!!!!!!!

I am very perplexed at the price action at the moment, considering that there is meant to be a Capital Markets Day next Tuesday & Koovs have also promised in July, a Quarterly update too.

masterboffin, do you think that FLFL just don't have the cash? Prior to the RBI issue, they didn't fulfil their financial commitment towards Koovs.

So even if the RBI issue is sorted out, who says they will fulfil this commitment. I really hope that Koovs are looking elsewhere, that's why they need a spectacular Capital Markets day with new, up to date information for prospective investors.

Thanks, is there any way of finding out if there will be a trading update before the Capital Markets Day?

Koovs promised in their July 2019 rns that they would be more transparent & provide Quarterly updates.

There have clearly been problems with the second tranche of funding, going back to the delays from March early this year.
I have expressed my serious concerns with various parties since March, then lo & behold, we get that shocker rns last Monday.

Apparently Koovs were the last to know that there was a problem mmmmm………..

masterboffin, FLFL call all the shots here, lets not pretend otherwise. Koovs have very little clout with them. We were assured that the second tranche would arrive by the summer. Then it was split into several tranches. The delay & subsequent price action told a different story.

It is no wonder that shareholders are extremely angry here. What was the point of a £250,000 tranche (a weeks worth of funding)?

As far as I am concerned, FLFL are not financially committed here & I expect Koovs to look for the remainder of the cash elsewhere. FLFL clearly want a working relationship & to expand their e commerce offering (they left it late), but virtually want it for free.

It's odd that RBI approved all previous placings with FLFL, the last one only a few weeks ago.

Look at the timing between the trades & the price they were executed at. Most likely 'rollovers' or shares being moved to an ISA etc.

Koovs still carrying on with their marketing, now using Bollywood 'A' lister Zareen Khan who has 7.6 million followers on Instagram
https://www.koovs.com/women?shp=1

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