Member Info for skittish

Yes, not quite sure what are buys and sells today. Look forward to your 400K.

I guess share price action really depends on what investments are about to be made.

The formation of wholly owned subsidiaries suggests something slightly more exotic than just taking a stake in an existing stock investment or recent start up. Labrum investing an additional £80K at this stage suggests that he expects to see a significant return on that investment. The other directors and associates have not yet followed but there may be time yet.

Previous management obviously had taken their eye off the ball when their GGP investment turned into a spectacular success and had left themselves open to an opportunistic takeover, and the order of the boot.

Labrum and associates now appear to own around 25%+, so do not intend the same to happen to them. Labrum's additional 2% may just be a bit of extra insurance.

For his £1M investment he gets to leverage £5M cash within the company and possibly an additional up to £5M in other assets, depending on their present values. Quite a neat move when you think about it.

Anyway, I've got my eyes peeled for any signs of activity, but it could be a little while off as yet.

When it comes we just may see that vertical move.

Yes - interesting find.

My take away is as follows:-

a) Whilst the decision to create new companies is now known, you do have to look at the register to find them, so maybe they were wanting to keep it a "secret" a little longer.

b) All the three companies are referred to as SPAC - "Special Purpose Acquisition Company" - but the name itself is meaningless, they could have been called ABC Limited, or AAA, or ABB etc. They all have model articles, so just have the general powers of any typical general company, the companies are nothing special in themselves. Maybe the names though are a bit of salesmanship, as actual real SPAC's which have tended recently to raise money for purposes not yet to be disclosed to investors, are all the rage at present. Quite why 3 almost identical companies is intriguing however.

c) Of more interest is that Labrum purchased around £80k PRIM shares on Monday 25th January 2021 taking his holding to 20%, whereas the companies were created on Thursday 28th and Friday 29th January. Presumably Labrum expects to receive a return on his investment, and sees it as worthwhile investing another £80K.

d) Simon Holden of Keystone Law is involved in all three new companies, although not listed as a secretary for one.

His resume is here - and his expertise is obvious -

https://www.keystonelaw.com/lawyers/simon-holden

Another company, a self declared SPAC, with which he is involved is Mustang Energy plc (MUST) which after a shaky start seems to be doing quite well.

https://find-and-update.company-information.service.gov.uk/company/11155663/officers

The main difference between MUST and PRIM appears to be that MUST has around £500K in the bank, i.e. it is brassic whereas PRIM is well cashed up with £5M banked plus potentially another several £M in other assets. MUST has yet to make its first investment.

e) Having the "SPAC's" as subsidiaries would to me seem to give PRIM extra flexibility and possibly speed if they wish to tie up a deal quickly. No need to necessarily call an EGM to issue more shares, just shovel money in the direction of the SPAC's, in which PRIM holds all the shares and the voting rights thus getting a deal tied up quickly.

f) I guess it is a case of watch and wait.

Should be mini!!

Looks like we are moving beyond being 'just' a clothing retailer.

Moving towards a mimi Amazon?

Well yes, looking at it that way you are probably right.

But until that crooked lawyer Sefton arrived and dreamt up this Ponzi scheme they were toast.

I think they gave themselves two years to develop a booming social media company.

Surprise!

The two years is now up.

And Sefton has been all pally with the EHGOS boys for yonks.

Everything he touches turns to ashes.

Online is king these days.

And BOO is priced as a go-go stock in any event, so anything other than the full on go-go narrative is punished.

G4M another online, albeit niche, retailer reached a new high today.

BWNG is priced as something of an uninteresting laggard and I doubt that many on the BOO threads even know of its existence. So very little, except serial disappointment is priced in here.

Even slightly decent figures should result in further upwards progress here, and a neat move out of the 3 year downtrend.

Y'know this might even close blue.

If so I would think that was a very bullish sign, and today would have just been a bit of a half hearted shakeout of weak holders.

Lets see...

It was up 35% over 6 days - now given back around 5%.

It has also hit the 3 year downtrend line, so some resistance was to be expected.

Give it a week or two and see where we are then - the price may just start with a 1..

I think the crucial difference is that N Brown is regulated by the FCA

https://register.fca.org.uk/s/search?type=Companies&q=J+D+Williams

whereas the likes of Klarna & Co are not and therefore theoretically can engage in practises which it would be illegal for N Brown to undertake.

N Brown have also beefed up the compliance side of things in the last couple of years and are actually actively improving the quality of their loan book

So I don't see this as being too much of a problem.

Share price this morning neatly bouncing off the 3 year downtrend line, lets see what happens over the next week of so. I think there is a good chance it could neatly slice though so as to decisively break the downtrend.

Excellent - 79.9p, todays high - sitting on the 3 year down trend line, and well within the 10 month uptrend lines.

Attention will probably diverted elsewhere tomorrow - ASOS - but some will read across to BWNG what will probably be good figures there.

We will have our day Friday - and possibly even before.

Lord Alliance is already up 39% on his multi million £ investment.

At 80p BWNG breaks out of a 3 year downtrend.

At 135p BWNG breaks out of a 6 year downtrend.

Both targets could be achieved within a reasonable time period and 80p could actually be breached next week.

We are also now just above the lower limit of the uptrend line from the lows of February and which presently stands at around 69p. BWNG did briefly drop below the trend line following the announcement of the fundraise, which seems to have caught the market off balance, but the post March steady progress has now been resumed.

Of some interest is that the 3 year downtrend line from the 2017 high of 350p and the 10 month uptrend line from the 2020 low of 10p will cross by the end of January 2021. One of them will have to give.

This could result in some interesting price action.

A Friday - a little unusual as it has recently been a Thursday.

Hoping to catch the Sunday press maybe - or am I reading in too much?

Strong into the close again - bodes well for next week. Broken out of the mid/high 60's on the fourth attempt.

Only four more trading days to 7.00am Friday.

Zak Mir on GILD

https://www.share-talk.com/share-talk-bulletin-board-heroes-thursday-7th-january-2021/#gs.q0p8mh

Great to see a strong close 66p, with a large UT at the end at full price.

Contrast with recent trading where the price has been pulled down towards close, it appears there was insufficient fire power to pull this off again. Since the crash BWNG has only been briefly higher on the SCSW tip of a few weeks ago.

Bodes well for persons taking up positions prior to the update.

Hopefully onwards and upwards tomorrow.

About time that we too joined the party.

Previous trading updates have been:-

16-1-20 Th
17-1-19 Th
23-1-18 Tu
19-1-17 Th
21-1-16 Th

So, good chance of Thursday 14-1-21, but could be a few days later.

Yes, all agreed.

BWNG, I regard as being a bit in the last chance saloon for me also.

Very frustrating to see others whizzing up and BWNG seemingly stuck where it is.

The fundraising in November and December appears to have been a massive distraction, and also no doubt took up much management time during the critical Christmas sales period.

They've now had a year to turn BWNG around (or at least show that it is turning) after the disastrous RNS last January. Sales are important, profits more so.

I think if they can show as sustained profits increase then the market will react favourably, whether achieved by cost cutting or otherwise, as nothing at all seems to be priced in to the present share price.

This further lockdown, whether for 2-3 months or otherwise should be a gift to them. It should effectively be free money.

Agreed, even half decent results should be reflected in a 50%+ rise from here.

All the omens are good - almost all online, lockdown, potential bad debtors already catered for, £100M reduction in debt (even before the fundraise), LA putting up £100M, internet stats looking okay - but the market doesn't exactly appear to be holding its breath.

They bang on about fundamental business reforms, new talent etc but the next week or so will really be delivery time - for me at least.

More prevarication and some may conclude that they can't actually turn it around, or at least not in a meaningful sense or within a reasonable time period.

I don't expect this to become a BOO or ASOS (fine chance), but a steady, growing, decently profitable business surely can't be too much to ask.

Alexa suggests the business is trading satisfactorily.

J D Williams and Simply Be are the two leading brands, comprising almost 50% of all product revenue.

Alexa shows J D Williams has considerable strength, especially in December 2020

https://www.alexa.com/siteinfo/jdwilliams.co.uk#section_traffic

Simply Be is shown as mixed - although not sure as to why so much traffic is from India

https://www.alexa.com/siteinfo/simplybe.co.uk#section_traffic

Jacamo is shown as not so good - although this only comprises around 10% of total N Brown product revenues

https://www.alexa.com/siteinfo/jacamo.co.uk#section_traffic

But contrast Jacamo's Alexa rank (289,953) with Evans (378,555) for whose online business City Chic recently paid £30M in the Arcadia fire sale, equivalent to Evans' annual online turnover, which is roughly the same as Jacamo's annual turnover.

https://www.alexa.com/siteinfo/evans.co.uk#section_traffic

All figures estimates, usual caveats apply.

N Brown is certainly "hard work", especially when many other shares appear to be shooting up on little more than hot air and New Year fizz.

Notable that Hut Group paid 1.8x sales for a US online company today.

Ditto - applied for nearly double my entitlement - all credited at Barclays.

Neatly back into the post March uptrend.

We did drop out previously when the fundraising was announced, and then again over the last week or so.

Now we're back in I reckon the lower limit is around 65p, upper limit difficult to discern but could be as high as 120p. We just need to get past the previous high in the upper 60's now.