Member Info for Reardon95

Hi guys,

I just probed Lennon about selling assets to Frasers etc and I have had the below response. These two get my vote!

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.

Regards

Mike

Wow, I’ve just had a response from Mike Lennon and it is encouraging.

Thank you for your email, whilst the full answer is a little more complicated the short answer is that I want to help management turn around the fortunes of Boohoo.

There is a lot I can add to assist the current early stage strategic review with the support and cooperation of the Board.

From the outside the results are declining but with a fresh outlook on the business I do not feel its to late to revive its fortunes and protect shareholder value.

It would be good to get your support at the upcoming EGM and vote

Regards

Mike

Parsnip you will be in the dog house when she finds out how much she has lost…We may well need a Big Mike rescue mission!

😂😂😂😂😂😂

They are getting desperate….

Just need some patience for this to rise now.

Has to be the most undervalued stock out there at price to sales ratio.

ATB all

Is BOO going down the same pathway as these?

https://www.business-live.co.uk/retail-consumer/how-mike-ashleys-frasers-group-24710236.amp

I think we should all do this.

michael.lennon@kroll.com

For 2 years now this hasn’t moved! I emailed Mike Lennon to see what his intentions were with BOO. He hasn’t replied….

With the UK doing nothing to prevent Shein running riot in the UK you know it’s because they are getting in to bed with the Chinese. BOO have performed remarkably well in the UK with this in mind.

I agree. No kind of performance to warrant that kind of rise in pay packet.

Despicable Tradey

I agree. Go and look at Shein's ethical sourcing and practices before pointing the finger over here.

I would say now is the most positive BOO has been in years. Genuine interest from Frasers coming up to a near 30% holding and putting himself forward for CEO. Kamani's battling away with him and a new positive young and hungry CEO to take us forward. To say this is another Cineword is jumping the gun.

I think there is a lot of potential still here. Many mistakes have been made post 2021 and a lot of money wasted. However, Boo have an array of assets and can certainly diverse DEBS in to a physical shop with likely a great reception and a return avenue for all of BOO's brands. Seems a bit of a no brainer especially with the Tax Loopholes still open which allows SHEIN et al to run riot...Bidding war could still occur against the Kamani's and Ashley. BOO is Mahmud's baby so it is clear he won't let Ashley have it without a proper scrap unfolding.

So you think they would put in £15m of their own money if they didn’t see value or thought it was undervalued at this level?

I wonder if we will see an increased holding from Kamani and sons. It’s good to see he is putting his money where his mouth is. £15m is no pocket change…

So my vote earlier today did not go through. They have opened a separate way to do it if voting through AJ BELL. I will likely wait for any more news as we have until 16th December to vote. Seeing if we can get any more assurances from Big Mike in that time. More than likely he will go up to 30% by then fingers crossed 🤞

Hopefully he has a few more pints with SCB and agrees to pay £1 a share for the remaining 70% of shares!

Frasers adding