Member Info for SEA7

If Mike Ashley were to add to his stake and move above 30% then he would be required under the takeover rules to make a cash offer for the remaining 70% of the stock at the 52 week high - that being about 34p per share.

He isn't going to do that at all.

moodys full note - forgot link in previous post...

https://www.moodys.com/research/Moodys-downgrades-Debenhams-ratings-to-Caa1-stable-outlook--PR_390638

remember what moodys said in November...

Debenhams results for the year to 1 September 2018 (fiscal 2018), announced last week, were in line with Moody's expectations at the time of the August downgrade. However, the rating agency sees a higher downside risk to its forecast profitability for Debenhams, most notably over the upcoming Christmas season, than previously anticipated, as the competitive environment remains highly challenging. Moody's expects pricing strategies of direct department store peers to remain very aggressive. For example House of Fraser, which emerged from administration in mid-August, now plans to keep more stores open than envisaged under previous ownership and the rating agency expects it to be focused on reinvigorating its appeal to customers.

The significant exceptional expenses in Debenhams fiscal 2018 results totaling more than GBP500 million mostly relate to asset impairments and are non-cash in nature. As such, these expenses do not adversely affect key earnings driven credit metrics, although they signal the company does not expect to regain its past level of earnings.

american tax year ends december 31st- they are selling to offset gains elsewhere in the fund for tax purposed and for their own weightings.

Hello SI,

Best wishes to you and all other zen holders also.

sorry - misunderstood you!

of course MA is looking years into the future and this next step in his grand plans are for HOF and Debs to merge under his roof. If he had his way, he would have it today, irrespective of its balance sheet.

You have to have a view many years out, to even contemplate merging entities of this size and scope, even if you cannot quantify numbers, apart from vague estimations.

yep - that is why ashley is annoyed that DEBS, Bod are ignoring him.

Online will grow as a percentage of overall sales, however, headwinds are blowing there, with ASOS et al, stating that they are seeing reductions in spend. So whilst Debs are moving more online, the customers are trimming online spends, which will overshadow sector sentiment.

Boots have come out today, with talk of lower sales.

https://news.sky.com/story/boots-sales-hit-by-very-weak-retail-conditions-11587100

debs have been running a working capital deficit of £200 - 280m for years. The last set of accounts shows it at £278m. This might be ok in the good times, but not now.

Ashley knows that the balance sheet is weak. He is thinking years into the future, not just the next quarter. He wants HOF and Deb merged. He is ready to pounce in March and will trash this in the meantime, so that he can get it for next to nothing - meaning his overall cost will be his 29.7% stake and a bit.

warren buffett on retailing....

https://www.cnbc.com/2018/08/16/warren-buffetts-warning-on-walmart-better-stocks-than-retailers.html

Retail is rough as long as Amazon is growing. There are less worrisome ways to put money to work in the stock market:

"Retailing is too tough for me," he said in the 2016 interview after Berkshire sold the majority of its Walmart stake. "I've been in various things in retailing...and got my head handed to me."

He added, "The online thing is very hard to figure out. ... I just decided I would look for a little easier game."

https://twitter.com/zenithenergyltd?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor

Assembly of the BD-260 drilling rig mast in progress

and

sounds about right, unlikely for it to move now. Italians will be finishing for the xmas break in two days and are unlikely to be doing much, prior to the 7th Jan.

I did think you knew what i meant and I did get your response, however, you never know on these boards.!

Yes - it is a long time for some really good news.

Gifts - as in a good Rns!!

perhaps Andrea will come bearing gifts for us, prior to the markets shutting for xmas, or perhaps a tweet of progress over xmas, seeing as it is not an official holiday in Azerbaijan.

yes, the recent tweet did say that they were running in hole for final phase of preparation for deepening operations, so
it is clear they are going for it.

We know there will be resistance at 4p, as this is the price that the primary bid buyers and placees in the raising in june of this year are locked in at, if they haven't already sold at a loss. That was 54m shares and the stock has only touched just over 4p, once since june and that was around the time of the raise.

We could see a decent gap up from 3.75p through this resistance level at 4p on good news from the company, or any other reason.

MM's may want to avoid having to soak up that amount of stock on their own, so good news at C37 enabling a decent gap up, could get us up to a good level above 4p very quickly, that brings in new buyers to soak up those locked in from the fund raising and traders that felt left out, who did not buy in the 2's or 3's.

It may even prevent stressed holders, who have been in loss making positions, for ages from selling, as they will now show a profit and be reluctant to sell.

All to play for here - just need the trigger pulled.

tweet on a saturday..

https://twitter.com/zenithenergyltd/status/1073964128593764352

Another day of progress at the B Robotics W facility in Piacenza, Italy

thanks Harrizma - I'm not on twitter!