Member Info for Reardon95

Hi Ocean,

Don’t forget the group have around £120m of property. I don’t think we are at that stage just yet. I think a recovery is certainly possible in the short term if property sales are achieved at a fair price and the group announces strong Christmas trading.

Ordered my first order from Shein today. Long wait until the shipment arrives on 5th of December.

My bet is that all hands are on deck for the existing board / management to keep their jobs. It is crunch time for them.

Mahmud must be confident in some sort of share price recovery pumping in £15m in the fund raise.

This was a fantastic rapidly growing company until SHEIN has come along. Completely decimated the business model. Not sure where we go from here now unless the tax loopholes are closed here in the UK. Something that doesn't look likely to happen with SHEIN listing here.

Who is voting Kamani out?

Some assurances I had missed from the Open letter from Ashley.

This legal opinion also contains a protocol that clearly addresses any potential conflicts

of interest concerns that may arise from Mr. Ashley’s appointment to the Board. This

protocol includes that, for so long as Mr. Ashley is on the Board, Mr. Ashley is willing

to agree that he will not:






 



o provide any confidential information he receives in his capacity as a director of

boohoo to any employee, officer or director of Frasers;

o take on any board position at Frasers;

o participate in any discussions of the board of Frasers or Frasers’ executives regarding

boohoo or its business; and

o take on any board position at any competitor of boohoo.

• Frasers’ view is that the Board raised alleged governance and competition law concerns

as an excuse not to appoint Mr. Ashley as a director of boohoo, and not because there

are any actual issues. The advice, which is unequivocal, confirms this regarding

competition law and Frasers is confident that it has similarly addressed all

governance and conflicts concerns.

• Frasers has also today responded to boohoo’s legal advisers addressing the questions

raised by them.

boohoodeservesbetter.com

Mike does normally not look to pick up companies at this sort of market cap. Is his £120m ish holding here worth more than DEBS itself? Baring in mind he would have to pay again for DEBS if Frasers want to make a bid. Is he fully on board for the turnaround mission?

Guys, I agree if we lose Kamani and they try and re-install a totally fresh board we are at the full mercy of Frasers. Let me remind you of my email from Mike Lennon.

"There is no predefined agenda to the proposed appointments, the request is purely to provide strategic support in the turnaround with a fresh pair of eyes.

If, and its only in a situation that strengthens the turnaround and balance sheet of Boohoo that assets including Brands are sold these can only be carried out by independent advisors with the full support of the board. Decisions like that cannot be made alone.

Without information and access to the current CEO and board I don’t know how good / bad the financial position is, and therefore what the correct solution is"

This reference is that they are extremely interested in the "brands" and the sale of those brands.

Isn’t that what I just said though James?

Guys really confused what to do here. It seems a balanced view by most posters that both don’t trust either parties. Who is worse though and do we give the 2 mikes a chance or is that just complete suicide where they will sell us all down the river? I think Kamanis are a safer bet but I just have no confidence anymore that they know what they are doing.

How can he sell DEBS without full authority from the board and an independent valuation? Hopefully he opens physical DEBS stores with BOO brands and starts to make some serious monies.

Let's hope so Trojan it has been painful...Valued so low now.

How is Mahmud's management going for BOO right now?

I fully expect Mike to be adding more before the AGM

I do lol. That's why I haven't voted yet until more info has been released....Like today's.

Kamani's back firmly against the wall and he knows it to relinquish his salary he is absolutely clutching at straws. I agree, the current crop have taken us to the brink all whilst milking massive salaries whilst we plunge further in to the red! The two Big Mike's are the only way to save us!

Full letter here.

https://frasers-cms.netlify.app/assets/files/financials/document-1.pdf

Big Mike is more than up for this and Kamani and his cronies have been a car crash the last few years. Worth a read!

I fear with Kamani gone Frasers can easily run this in to the ground and the world will be their oyster. I still haven’t voted but with today’s statement and Frasers away from the board but a large holder. This would allow them to make a bid and give us another layer of protection. It would also all Finley to stage a proper turnaround.

You voted for the mikes??

Sit tight parsnip we are all in the same boat here. Hoping the Mikes can get in here and sort this mess out.

Come on BOO!