Member Info for Sm66

Last year was April 14th, previous 2 years were May. I’m not holding my breath for April

IG shorts at 29% longs 71%

End of March was more like 45/55

But yesterday was 27/73

The business Has liquidity, a loan extension and an option to borrow more in the short term. It’s only going into administration voluntarily, why would they do that after rejecting an offer? Also why have they not stated the conditions of the offer. They rejected JD as it was not in the best interest of the shareholders and stakeholders. That doesn’t mean the company is bankrupt. Hopefully the vultures are circling but they won’t get this for 10p IMHO.

The CEO wants to push this company into administration. Post pandemic the SP climbed to approximately 500p, it’s now 10p. SDRY management are beyond useless. However it’s the CEO who has mentioned administration because the take over panel rejected his terms and conditions. He needs to go. This may have been a master play to suck PI’s in then drop the bomb shell and scoop cheap shares. I was suckered in and still holding 0.15%. SDRY is not Ted baker. This will play out, one way or another and it may drag on until next year but 10p is an insult. Someone posted a YouTube investor chat with CFO and JD a couple of days ago. Worth listening too before panicking and selling a loss. Considering it was recorded on Jan 26th and JD started his attempt to steal the business on feb 2nd, it all stinks but not of administration.

Sheltie

For sure, a sad state of affairs, this was a painful lesson.

I’m sticking with other industries now. I’m up on CAPITA today so some sunshine on the horizon.

All the best

Interesting little article, I don’t think many shareholders will be wishing JD well?

Perhaps a better solution would have been to sell it earlier when it was worth something.

I’m still holding some stock just Incase but basically written it off for now. The options stated ie: dilution or administration aren’t attractive, particularly dilution, they would have to create 500m shares at 5p to raise enough to last until Christmas. Best bet for those of us left is a takeover at say 20p although unlikely now.

I expect the next RNS will be JD’s position as CEO is no longer tenable and he is standing down as CEO

The business has been given a loan extension and an increase in loan facility (should it need to create headroom) it may not need it? It’s busy cutting cost and attempting to become profitable again. JD saw an opportunity to steal and failed. It’s possible that this play was generated by the BOD’s in order to discredit JD and vote him out.

The SP has over reacted based on fear, nothing has changed with the business itself, the RNS’s served to turn shareholders against the CEO. The BOD’s could have played a blinder?

Seem to be hitting their targets, IG. Currently showing 36% short down from almost 50% yesterday

CEO needs to go!

This January all time low of 16p has been smashed by a further huge % drop due to the CEO attempting to save his beloved company. Utter tosh.

£20 in 2018 10p in 2024, great job BOD!

Someone mentioned corruption, the damage done by Thursdays RNS’s is total negligence by the BOD’s, nothing to support the business, apart from a loan extension and an increase that’s equal to the current Mcap. Rather than stealing from shareholders can’t they sell another IP? Europe or North America or both?

Gary

You’ve made your point mate, some of us have lost money on this shambles, myself included. Please give it a rest, you’re not protecting anyone anymore

Toffers

You absolute flip flop

Hilco has extended the loan facility and increased by £10m. Incase the business needs it. After your endless posting about JD announcing a buyout at the horse races, you’re a disgrace and zero value

In 2023 JD purchased approximately 6m shares at 76-79p

Rock8

That’s exactly what I just searched. There’s a few institutions with significant holdings in SDRY.

Ok, someone recently posted a list of who holds what and I’m sure I saw HSBC @17%

With that in mind, HSBC own 17% approx, what’s their average?

I think they would for profit but not for loss.

Trolls in overdrive since the RNS’s dropped on Thursday evening.

The way they’re painting this outcome looks like theft on the part of SDRY and JD. I think the very least the company can do is disclose JD’s rejected bid as they’ve rejected it in the interest of stakeholders and shareholders.

It’s certainly not in my interest as a shareholder to dilute my holding.

Clutching at straws probably but

If JD scoops the dilution he’ll certainly breach 30% hence he be obliged to make a cash offer for the entire share issue. Thems the rules. It’s possible that the BOD thought 79p undervalued the company and that’s why he’s taking this approach. Depends on the level of dilution but for arguments sake if he buys another 100m shares he’ll effectively own 65-70% of the total issue. The max he’ll have to pay is half of 79p. Thereby rinsing shareholders but still more than current value and significantly more than Tuesdays opening price?

I owe sheltee an apology for calling them a tool and accusation of fake news.

I clearly hadn’t seen the sudden barrage of RNS’s after the close.

Had some time to digest them now. Not we were hoping for however I don’t believe all is lost.

The suggested equity raise funded by JD will require shareholders approval, unlikely unless threatened with a CVA.

I’m guessing his bid was too low, shame they omitted the numbers from the update.

Furthermore, the RNS goes on to state that JD and anyone in concert can bid for a further 6 months.

If he supports the raise then surely he’ll own more than 30% and be obliged to make an offer. Obviously the longer this drags on the lower his offer must be so it’s in his interest to drag it out.

There are still so many possibilities, sounds like I’m ramping but I’m trying to fathom where this is going. Expecting a painful start to Tuesday’s trading as the fuel is clearly there to give shareholders a good beating.

Have a good weekend if you can, I’m struggling