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Also, numbers have not been mentioned by SDRY, other than materially lower than 28p. Could be 1p or 10 or 15? 20 is unlikely but again it has to be approved by the board who recently told JD to “put up or shut up”
He couldn’t put up and code not to shut up but cause as much damage to shareholders as possible. He needs to leave as his position is worthless to shareholders.
They won’t raise enough at 5p, very unlikely IMO. Plus, they have enough cash for the time being. Disaster will be Hilko calling in the loan early or CVA. They could well simply continue with their cost cutting program and bring the business back into profit.
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.
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.
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?
£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?
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