Member Info for simon1367

This is just the beginning. In my view, MA was expecting this result. What with Institutional Investers (I.Is) rarely backing him, plus the K's mustering all their relatives' holdings, the outcome is of no surprise to me. This whole vote was just another tactic on turning the screw on Kamani. K has won this battle but will lose the war. MA will be favourite to pick up the pieces when the company faces the next crisis (no doubt after K and his cronies have taken everything out that they can). Sometimes I.I's in the City can be absolute mugs, simply because they don't approve of mavericks like Ashley who operate in an unpredictable manner that they can't follow!

Bfd: I admit I hesitated on purchasing. One of my flaws unfortunately. I wish I had now veered off my limit slightly and bought at 0.275 a few weeks ago. Would have sold today at 35% profit. That'a all this share is worth playing on, a fairly quick in and out. I'm hoping a similar opportunity arises. As far as I'm concerned, this is not a share to buy and hold. Too much risk. Better opportunities elsewhere.

An earlier comment was ''Average about 40p and I'm going Kamani because IMO MA can't be trusted''.....Hilarious. As if K is interested in anything but himself lol.

I can't see MA winning this initial battle but he could eventually win the war. I can only imagine the SP rising due to the continued t/o speculation or something similar. One thing I'm fairly confident on, the sp increase is not down to the prospect of better trading update.

ISS states that Frasers has offered a superficial view of performance and no specific plans for change and the two Frasers candidates, Mike Ashley and Mike Lennon, have real conflicts of interest, concluding that a board change at boohoo group is not warranted. I believe this to be a particularly biased view by this proxy advisory group. Boohoo are in my opinion going nowhere under the current incumbents.

Frasers statement about the present state of the company is far nearer the truth. Even before Labour's decision to substantially raise NIC's and minimum wage levels, the company was going to struggle. The company needs proper change and a board that knows what they are doing. MA would certainly rationalise and merge and make the business leaner and more efficient. Painful in the short term. Given he is not popular in the city, I predict he will lose this current fight but not the ultimate battle. Meanwhile await another profit warning when the next trading statement happens.

As I commented on 1st November, despite others getting over excited, I could not see how this could be a done deal when the SP was fairly surpressed compared to the supposed offer price. When its effectively a 'done deal' the SP usually aligns to the offer price or close. I'm not saying it won't happen, but I wouldn't be surprise me if it falls through. The delay in knowing one way or another is not beneficial to the business.

One to watch. My entry isn't too far away. The company is performing okay given the economic climate and the additional costs that it will face following this government's idiotic budget. This government doesn't understand economics. As the saying goes, ''socialists don't understand economics. If they did, they wouldn't be socialists.'' With that in mind I tend to revert to my ''common sense'' mode and decide what businesses have the potential to see through the next few years successfully. To my mind, nearly everyone seems to have a dog; similiarly those who don't, probably have a cat! The potential, so long as the business is run efficiently, is very good. This is one of those shares that could be good at buying and holding, or equally good if you're looking for a quick in and out a few times a year.

AI4x I concur with your viewpoint. The short to medium outlook for the LSE is gloomy. Any 'growth' in the economy under this government is unlikely. Like the word 'woman' they don't understand the meaning of the word 'growth'). However, there is often no clear rationale or logic in the way markets behave. I have been thinking that the USA has been overheating for a while but everyone now sees it as having a lot further to go. One thing is quite possible; the moment I start adding to the S&P500 is the moment it will start falling!! In the meatime I pray for a takeover offer for Asos. (in my dreams)

IParsnip: Number 2 . (MA will bide his time)

I read with frustration the comments on here such as ''enjoy these juicy divs'' and various '' more patience required'' etc. Here is my story. After taking into account people such as IFA's and others basically highlighting the benefits of investing in infrastructure IT's due to them being largely shielded by inflationary linked projects etc (with a moderate chance of some capital appreciation I proceeded in investing five and a half years ago. I added by ''averaging down'' a couple of times since. The result has been as follows:

Total lump sum capital invested £13173. Total dividends received £2250 which were all reinvested. Total value of my holding today, including divs reinvested £12968. A net loss over five and a half years of £205. If I had left it in the building society the balance would now be £15000. Basically this share is doing diddly squat and I am not prepared to wait another five years of hoping. I will be significantly reducing or disposing in due course.

The placing is a cynical defensive maneuver designed to shore up the K's position, albeit temporarily. And at what cost? They are simply looking after their own personal interests rather than other shareholders. One could say the same for MA in respect of his ambitions. Having said that, I know who I'd want running this outfit, and it doesn't include the K's. On the subject of the K's, why on earth have they re-established dealings with GN Euro, a large privately owned women's clothing manufacturer in Leicester (who have set up a new site in Morrocco under a different name) who were axed following a modern slavery scandal. No doubt they thought they could get away with bringing their mates back in a different guise. Am I surprised? Not in the least. Given recent developments and things starting to get interesting, a drop below 25p could be a decent entry point, but still very much a high risk gamble.

This new placing shows all the hallmarks of a knee-jerk reaction by the present encumbents, who are determined to hang on in there irrespective as to whether it's in the best interests of the shareholders. It's a short term attempt to ward off MA and a potential cashflow crisis. I wouldn't be surprised if the accumulation of 'friendly' holders might win the day for the K's 'initially', but in my opinion, this whole mess is as a result of a complacent executive who have outlived their usefulness. MA of course acts solely in his interests (rightly so) so don't expect megabucks from a prospective takeover approach. I think Frasers are exactly the right people to take boohoo places. With the K's still in tow, expect more of the same.

Pcla.....I initially shared your view when seeing the div cover HL figure of 0.52. I don't think HL system takes into account how CSN's complex structure. If you google 'csn dividend cover' you will see that most analysts calculate the actual cover this year to be about 1.3, after taking into account cash generation from other divisions of the company. It is also reassuring to see that there has been 20 uninterrupted years of dividend rises. This is basically a cash cow. One will definitly sacrifice capital growth with such a dividend.

Today's Financial Times sell recommendation (albeit a short summary) makes for depressing reading' It highlights the points I mentioned earlier this week; the basics being the big write offs, rising losses, declining sales, and amongst other things, onerous interest payments. The view being they cannot see where the growth is going to come from. In their words ''the future still looks too uncertain''. I remain cautiously optimistic that the turnaround is very slowly happening (so long as it continues along becoming a leaner enterprise) but that any real recovery is beyond 2025. Expect the SP to dip on Monday if this recommendation gets too much of a hearing. From my own perspective, the sooner someone comes in to sort this company out (MA?) properly the better.

Overall I'm a bit disappointed with these accounts. The road forward to success is still on a knife edge, and my patience is running out. It's not that they haven't made positive strides in making the company leaner and more efficient; they have. What's frustrating is all the waffle and bs spin in the accounts which imo is more of the same (jam tomorrow). And, as I predicted months ago, that further substantial write off of nearly £100m. I suspect they will be even more idc. Stock goes stale so quickly in the fashion business and with this and the debt being pushed down the road, the recovery under the present management could be fairly slow. Hence MA no doubt wanting to shake things up with a merger with Boohoo. The sector is ripe for cosolidation and MA and his son-in-law seem in a hurry to clear out the dead wood at both companies. While I think he's more than a match for the K's, Povlsen could be a trickier cookie. At the present SP, expect some more selling of put options from MA soon. Meanwhile, I'm reluctantly holding on in the hope some takeover fever emerges.

Someone commented that they'd heard rumours of a middle eastern fund prepared to back up to £2billion to ward off MA. With respect that has got to be a load of baloney. Boohoo's capitalisation is only about £412 million! I suggest someone is getting over excited and is trying to ramp up the share. MA doesn't often make takeover offers unless he can get something on the cheap. However he has, at the moment, given up chasing Mulberry, so has a bit of spare cash and may be tempted. I doubt very much an offer from anyone would be more than at a 60% premium, an initial offer could be for far less. As for the K's and their stategic review, imo they are trying to get a higher break-up valuation out of this situation merely for their own personal gain rather than the interests of other shareholders. Taking it private on the cheap with their mates has been on the cards for a while. MA is biding his time. As we know, there's bad history between them which makes it more likely that MA will turn the screw slowly. Boohoo is ripe for the picking and imo MA is the one who has all the tools to turn it around. It needs fresh management. All the while the K's are there, it will be under a cloud.

A few here suggesting this is a done deal. The SP suggests otherwise. Am I missing something?

Although I've made money on this, I still feel the company is being sold on the cheap, primarily so that certain executives can exit with a tidy retirement fund. Maybe in their position I would be doing the same, but one wonders whether it is in the interests of other shareholders.

The price drop has very little to do with the £327k adjustment in royalties. That's relatively peanuts for the company. It's almost entirely due to the rumour that tomorrow Labour will announce a change to IHT rules re AIM stocks. If the exemption goes, we could see the SP drop a bit more (temporariliy in my view).

Boohoo's CEO, John Lyttle already announced earlier this month that he was stepping down from the job. MA sees an opportunity here. K will not like this

Regarding the K's, it was a mere minor comment of my personal opinion based on my perception of the way they operate. They have made their fortune long ago, already own a lot of the property that the company lease and, in my view have lost focus. A strategic review of the way forward involves the obvious break-up of the operations and gives them maximum value of the present position, which I realise is still a low valuation. Just my opinion. I have never liked their modus operandi. Anyway, this is not the correct company forum to expand upon further, so I will refrain from further comment. . .....unless I say something on the Boohoo postings!