Member Info for Rock8

Or is it really game over?

Even failing to deliver an oversold bounce.

Anybody with anything positive?

His RFor the purposes of Note 2 on Rule 2.8 of the Code, Julian Dunkerton and any person(s) acting in concert with him reserve the right to make or participate in an offer for Superdry (and/or take any other actions which would otherwise be restricted under Rule 2.8 of the Code) within the next six months following the date of this announcement in the following circumstances:

i) with the agreement of the Transaction Committee;

(ii) following the announcement of a firm intention to make an offer for Superdry by or on behalf of a third party;

(iii) following the announcement by Superdry of a Rule 9 waiver proposal (as described in Note 1 of the Notes on Dispensations from Rule 9 of the Takeover Code) (excluding a Rule 9 waiver proposal by Julian Dunkerton) or a reverse takeover (as defined in the Code); or

(iv) where the Takeover Panel has determined that there has been a material change of circumstances.

NS

He can bid again.

Read the RNS.

There was a list of circumstances on his RNS

More likely shorts adding IMHO

It's higher than any price achievable yesterday so frankly it's odd.

That trade not showing on ADVFN feed

At 5p the raising wont raise enough to cover the costs of doing it!

I assumed the waiver request was because after the equity raising he is likely to have over 30% and didn’t want to be forced to make a full offer at 79p?

Although there must be a ball park number discussed

“…..concluded that a takeover offer from Julian Dunkerton for the Company is unlikely to deliver an outcome for shareholders, or stakeholders more broadly, that the Transaction Committee and Julian Dunkerton are confident can be executed in the context of the Company's ongoing work on its turnaround plan and material cost saving options.”

It’s unclear he made an offer unless ai missed something?

Well the shareholders amongst us anyway

None of this is good for us.

Still leaves us stuffed although he does need the clause waiver?

Although I suspect he will say it’s necessary to save the company?

Reported everywhere tonight

Stockbroker AJ Bell gave a damning assessment of the current state of the business.

Russ Mould from AJ Bell said: “Investors finally had a chance to price in a barrage of bad news from Superdry which was released after the market close last Thursday. The share price slumped by 47% which implies disaster.

“Julian Dunkerton has withdrawn his attempt to take the troubled retailer private which means Superdry now faces the prospect of having to conduct a heavily discounted fundraising to stay alive, conditional on delisting the group from the stock market.

“It has secured additional borrowing facilities that come with a chunky interest rate but that’s only going to be a small plaster on a big wound – not enough to save the day.

“Investors now appear to be dumping the stock to get back anything they can, even if it means crystalising a loss. In the absence of someone else throwing their hat in the ring and trying to buy the business, we can probably wave goodbye to Superdry as a listed entity.”

So AJ Bell and rest of them as wrong?

I get a raise will let him buy it on the cheap but all reports suggest they need cash.

Are you assuming the reports are wrong?

Yes but all tonight’s reports suggest the need is to raise cash to survive

Can anyone explain how his equity raising can generate more than £5-10m ie not substantial

All the reports on this today including comments from AJ Bell were dire.

Won’t post them as easily available and frankly very depressing.

Sorry again

….competition!