Member Info for themuir01

The possible offer announced by Sports Direct on 25 March 2019 did not provide a solution to the group's immediate working capital needs, and the board could find no way for the group to continue to trade until such time as the offer, if made and successful, had closed. The company therefore had no implementable alternative to its well-developed plans to enter into the facilities in order to protect the interests of its broader group of stakeholders including employees, pension holders, suppliers and lenders. By entering into the facilities there is provision for Sports Direct to participate in a comprehensive solution, and we will be contacting Sports Direct to outline once again the terms on which their constructive participation would be possible if they wish to participate.

These milestones include Sports Direct International plc ("Sports Direct") or another shareholder holding 25% or more of the company shares, entering into an agreement with the company and its lenders covering either (i) a firm and binding offer for the company which includes satisfactory arrangements to refinance the group debt that becomes due and payable on a change of control, and provides the group with sufficient working capital; or (ii) cancellation of the request to convene an EGM of the company, a stabilisation agreement with the company and a commitment by Sports Direct to either underwrite a rights issue by the company or provide funding by way of a subordinated debt instrument on terms agreed with the group's lenders and noteholders.

So Mike will also have his say as well as offer... what a great day... cosnidering how we all felt about an hour ago. The idiots posting on here the past few days... where you all gone now?... any money they have bought shares...??

Great :-)

being tested... well done all keep it coming...5p and more ...Ashley its over to you now pal

Will only take 7 years to pay off with the profit they make now plus when he gets hold of it the 100 million will soon become 200 or 300 million a year... its a good onvestment and thats why he wants it...

This puts DEB in a good position to reduce rents.. if land=lords dont accpet their offer for reductions they will be given so much in the £... maybe 5p..

Also it means Mike needs to offer or loose his money... I have a feeling he will increase his offer now

Well done to who held earlier... too many idiots on here

(i) a firm and binding offer for the company which includes satisfactory arrangements to refinance the group debt that becomes due and payable on a change of control, and provides the group with sufficient working capital; or (ii) cancellation of the request to convene an EGM of the company, a stabilisation agreement with the company and a commitment by Sports Direct to either underwrite a rights issue by the company or provide funding by way of a subordinated debt instrument on terms agreed with the group's lenders and noteholders.

come on now Mike... here is your chance

Best switch off for a while now and wait on Mikey boy with his offer... recon it will be more than 5p now.

The facilities are for £101 million and £99 million and the company has served a draw down notice for all of the first facility today. Availability of the second facility is subject to the satisfaction of one of a number of milestones being reached by 8 April 2019. These milestones include Sports Direct International plc ("Sports Direct") or another shareholder holding 25% or more of the company shares, entering into an agreement with the company and its lenders covering either (i) a firm and binding offer for the company which includes satisfactory arrangements to refinance the group debt that becomes due and payable on a change of control, and provides the group with sufficient working capital; or (ii) cancellation of the request to convene an EGM of the company, a stabilisation agreement with the company and a commitment by Sports Direct to either underwrite a rights issue by the company or provide funding by way of a subordinated debt instrument on terms agreed with the group's lenders and noteholders.

Over to Mike now... still happy to leave my ££££ in here.... some on Mike you have until April now.

Bit of a pointless post.. isnt every buy at your own risk pal?

Aye right

Go back to the beech in your bedroom :-)

Hahaha

Only thing I can see is a lot of ******s posting on here.. you've just popped up too..

The company made 100 million last year its not good money after bad... the bod need ousting... why cant you see that?

The thing is he can put any plan in place that shows how he plans to pay debst off... its easily done.. he also doesnt have to see that through once he has the company.

There is nothing stopping him sending his offer.. I'm sure he has or its on its way.

Have a good day Daniel with your 'meetings'

Yeah hes given up his 130 million.. just like that ....

That would depend on what way you read it. I'm sure Ashley will be considering high court action, possible injunctions and with a bit of luck he's preparing his offer.

Read what Sports direct have said Daniel..

They've tagged them in on it... its not that vague... Ashleys going legal