Jimmy Choo Share Discussion Threads

[jrphoenixw2] 24/10/2017 13:51

A recap of the updated timetable:


Extract:
Event - Expected time/date
Court Hearing - 27 October 2017
Last day of dealings in, and for registration of transfers of, and disablement in CREST of, Jimmy Choo Shares - 30 October 2017
Scheme Record Time - 6.00 p.m. on 30 October 2017
Suspension of listing of and dealings in Jimmy Choo Shares - 7.30 a.m. on 31 October 2017
Effective Date of the Scheme - 1 November 2017
Cancellation of listing of Jimmy Choo Shares By - 8.00 a.m. on 2 November 2017
Latest date for dispatch of cheques/settlement through CREST/dispatch of electronic payment - 15 November 2017
Latest date by which Scheme must be implemented - 31 January 2018(1)

Is anyone else still holding? If so and they've considered reinvesting the proceeds in the same or a similar sector I'd be interested to hear any alts. that have caught their eye. I had a run through a couple of months ago of alts. in the sector but nothing stood out as compelling to me.

[killman2] 29/9/2017 07:20

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[jrphoenixw2] 19/8/2017 11:45

I was wondering what happens next re: the take-over of CHOO. From wading through their huge co-operation agreement [some relevant extracts below the ------------ line] it seems that:

- CHOO is due to write to us with info on the take-over by 25th July +28 days = 22 August?
- The above will include info on an AGM at which shareholders will vote on the deal.
- They expect the scheme to be effective during Q4-2017
- And to cut a 100+ page story short the 'long-stop date' to finalise the deal [or extend the time] is 31-Jan-2018. Presumably what they currently foresee as the latest possible end-date.
- Meanwhile they're also seeking the necessary regulatory clearances.

But I'm not a lawyer, and that's a big and complex document. If anyone else has a better idea of the timetable I'd love to hear it. Meanwhile it looks like the next step is some form of 'take-over document' issued next week.

-------------------------------------------------
Kors/CHOO cooperation Agreement dd 25-7-17
Page 34
'It is expected that the Scheme Document, containing further information about the Acquisition and notices of the Court Meeting and General Meeting, together with the Forms of Proxy, will be posted to Jimmy Choo Shareholders and (for information only) in separate letters to participants in the Jimmy Choo Share Scheme within 28 days of the date of this Announcement and that the Scheme will be effective during the fourth calendar quarter of 2017...'

Page 55
'It is intended that the Acquisition will be implemented by means of a Court-sanctioned scheme of arrangement between Jimmy Choo and the Scheme Shareholders under Part 26 of the Companies Act. The Scheme is an arrangement between Jimmy Choo and the Scheme Shareholders. The procedure involves, among other things, an application by Jimmy Choo to the Court to sanction the Scheme'
'The Scheme is subject to the Conditions and certain further terms set out in Appendix 1 to this Announcement and to the full terms and conditions to be set out in the Scheme Document, and will only become effective if, among other things, the following events occur on or before the Longstop Date or such later date as Michael Kors Bidco and Jimmy Choo agree:
· a resolution to approve the Scheme is passed by a majority in number of the Scheme Shareholders present and voting (and entitled to vote) at the Court Meeting[...]
· the Special Resolution necessary to implement the Scheme is passed at the General Meeting[...]
- following the Court Meeting and General Meeting, the Scheme is sanctioned
by the Court [...]

Page 56
- The Scheme shall lapse if the Scheme does not become effective by the Longstop Date, provided however that the deadline for the Scheme to become effective may be extended by agreement [...]
- The Scheme Document will include full details of the Scheme, together with notices of the Court Meeting and the General Meeting. The Scheme Document will also contain the expected timetable for the Acquisition, and will specify the necessary actions to be taken by Jimmy Choo Shareholders. The Scheme Document together with Forms of Proxy will be posted to Jimmy Choo Shareholders and, for information only, to persons with information rights and to holders of options and awards granted under the Jimmy Choo Share Scheme, as soon as practicable. Subject, among other things, to the satisfaction or waiver of the Conditions, it is expected that the Scheme will become effective in the fourth calendar quarter of 2017.

Page 78 onwards
Court Meeting - 'the meeting(s) of the Scheme Shareholders to be convened by order of the Court pursuant to section 896 of the Companies Act, notice of which will be set out in the Scheme Document, for the purpose of approving the
Scheme, including any adjournment thereof'

Some definitions: -
-----------------------------
General Meeting - 'the general meeting of Jimmy Choo to be convened in connection with the Scheme, notice of which will be set out in the Scheme Document, including any adjournment thereof'

Long-stop date - '31 January 2018'

Scheme document - 'the document to be sent to (among others) Jimmy Choo shareholders containing and setting out, among other things, the full terms and conditions of the Scheme and containing the notices convening the Court Meeting and General Meeting'

[jrphoenixw2] 26/7/2017 09:55

For the record, from yesterday's Telegraph:

'...majority owner JAB Holdings, the investment vehicle of the wealthy German Reimann family, which owns a near-68pc stake...
...Jimmy Choo's management, which own 1.55pc of its shares, have also given positive undertakings.
...JAB has undertaken to vote its shares in favour of the takeover, which will be structured as a scheme of arrangement, which requires 75pc of shareholders to approve the deal.'

[dennisbergkamp] 25/7/2017 10:23

Well done to those that held on!

[jrphoenixw2] 25/7/2017 08:25

CHOO bought out by Michael Kors at 230p. Stock +17% @ 228p at time of writing...

[jrphoenixw2] 08/5/2017 14:55

Exactly my thinking, sadly.

[matt123d] 08/5/2017 14:23

Coach buying Kate Spade. Maybe less likely to be buying CHOO as well.

[jrphoenixw2] 02/5/2017 12:17

I bought some of these as a birthday gift for my wife. She loooves the brand, but knows almost zero about investing/stocks etc. Since the latter is my job, I thought it might encourage her to in small part 'share my experience'.
I also liked the idea of a gift that keeps on giving. When the divs begin, it's of course up to her but she'll perhaps be able to buy a pair of the shoes each year :)
I paid an average price of 141p, sometime 12-18mos ago now. Now I'm wishing I had have bought some for myself, it's up c37% to date.

I'm watching this Kering plan play out, and it's interesting to see rumours of Coach perhaps on the horizon.... we shall see!

[matt123d] 02/5/2017 09:02

Rumour of interest from Coach

[runthejoules] 02/5/2017 08:41

Spiked like a high heel! Is something 'afoot'?

[robbiereliable] 25/4/2017 14:28

I'm not jumping ship, always fall into the trap of taking my profits, currently 10% if I sell. Just going to sit back, put my feet up and have a cup of tea and a few digestives. BDEV, CHOO, ETO, JLG brewing nicely for me

[hazl] 25/4/2017 07:46

Its been good though.

[matt123d] 24/4/2017 23:04

From an investment perspective there isn't the potential return from these levels after today's news.

[runthejoules] 24/4/2017 18:15

I'm interested Dennis and Matt, you think this is a sign of desperation? From the SHARES article, I thought the major investor was just refocusing on food...

[matt123d] 24/4/2017 17:25

Taken a lot off the table too, was a nice easy run.

[dennisbergkamp] 24/4/2017 16:48

I'm out. Wanted to stay longer but this putting up for sale thing has put me off. Receiving an offer would have been different off course.

I'll keep watching though. Good luck to those holding!

[runthejoules] 24/4/2017 14:58

A Chinese billionaire will probably buy it for his wife!

[hazl] 24/4/2017 13:46

Absolutely joules my thoughts entirely!
Course.....you never know.

[runthejoules] 24/4/2017 09:14

Hazl what do you think the chances of them getting a buyer are? Burberry was supposed to have been sold recently, but it didn't, did it, then got bad results - wondering about the luxury goods market...

[hazl] 24/4/2017 08:47

Guess I sold too soon!
Well done here holders.
Be interesting to see if they get any takers.

[mdcapital] 18/4/2017 21:08

Over 1 million shares traded so someone seeing something at these "crazy" prices.

[bookbroker] 18/4/2017 18:39

Crazy price, unless a takeover target!

[matt123d] 18/4/2017 17:49

170p cleared then on heavy volume. 200p next area.