Bonmarche Share Discussion Threads

[bedbel] 31/3/2020 16:58

Yesterday the money suddenly appeared on my account...Finally!

[tobyjo] 07/2/2020 17:35

Hi Bedbel and Buenair,
Today much to my surprise the funds from the Bonmarche takeover arrived in my account hope you have both got yours regards TOBYJO.

[bedbel] 29/12/2019 08:55

Hi Tobyjo and Buenair,
My broker asked the nominee (Pershing). Although they first said it would be paid end of november, they now don't know anymore. I'll try again next year. Let's keep posting abouth progress.

[tobyjo] 27/12/2019 18:29

Hi Buenair,
I am still waiting although I accepted the offer that closed 10/07/19 but I think my broker omitted to claim on my behalf so now going through complaints procedure will let you know when funds received regards tobyjo

[buenair] 27/12/2019 17:16

Hi Bedbel and TOBYJO,

Did you receive yours already?
I'm still waiting on the squeeze-out proceeds.
The shares were bought through Interactive Brokers.

Kind regards, Buenair

[aleman] 01/11/2019 08:44

Readers comments - went trendy and young, changed lines, poor quality fabrics to keep prices down, variability in sizing. Is it Connolly's fault or were they always doomed?

[tobyjo] 28/10/2019 12:18

Hi Bedbel,
I will let you know if I make any progress. Please let me know if you get you get yours regards TOBYJO

[bedbel] 28/10/2019 11:11

I'm with Binck Bank Nederland, the shares are held in nominee account by Pershing.

[tobyjo] 28/10/2019 09:22

Hi Bedbel,
I also accepted the offer in July before it closed and I think exactely the same has happened to my holding are you with Barclays ?

[bedbel] 28/10/2019 09:10

I offered my shares on July 7 but still did not receive any money. My broker says that the offer period has been extended until October 11 and the payment date is unknown.
I think they made a mistake and not offered my shares because I can't imagine that no one has received his money since July.

[tobyjo] 27/10/2019 22:06

Hi,Is anybody here still waiting payment who accepted the takeover offer from Spectre for Bonmarche . Also if anyone has been paid could you give me an approx. date thank you.

[tomboyb] 18/10/2019 20:46

Bonmarché appoints administrators
By Katie Hope
Business reporter, BBC News
1 hour ago

[tomboyb] 18/10/2019 20:46

BON GONE BUST!

[micha14] 25/7/2019 01:02

What is even more disgusting/dishonest here is that they never published/will publish the annual report before delisting shares. WHY???? Is it because the situation is perhaps not as bad as that lying management sang in order to get everybody to sell out to Day?? The management has behaved in a disgusting/grotesque way all alone, i only hope Day fires the lot of them

[micha14] 24/7/2019 11:25

Spectre are reporting to me indeed! There is a difference between 90pc of the offer and 90pc of the total issued share capital

[aleman] 23/7/2019 14:51

Not a holder here any more but I think micha14 is right. A squeeze-out requires BOTH obtaining 90% of issued shares AND obtaining 90% acceptance of the relevant shares covered by the offer.

[buffett9] 23/7/2019 14:17

Spectre aren't speaking to anyone. They haven't even met with the Bonmarche board. And yet they have spoken to you Micha14?

[micha14] 23/7/2019 12:56

No! Spectre doesnt, I ve discussed it with spectre themselves. They told me they are not forcing minorities out as they d need the 95.2pc by the new calculation which they havent achieved. The journalist is wrong.

[buffett9] 22/7/2019 10:19

Micha14, apparently Spectre does have enough of the shares to buy at the remainder - according to this article: "This represented a 93 per cent stake in the retailer and means Spectre now has the power to buy out the rest of the shares." hxxps://www.retailgazette.co.uk/blog/2019/07/bonmarche-to-be-delisted-after-philip-days-stake-grows-to-93/ Of course, it may be the journalist does not understand the minutiae of company law??

[buffett9] 19/7/2019 14:47

Wow, that early suspension is going to hammer the share price even more!

[tomboyb] 19/7/2019 14:41

all over -

Not just bon that has be suffering -

It seems to me having gone through a few shopping centres that retailers are "very thin" on the ground -

Not seen anything like that and it is not one or two but several -

Zara still doing well though -

[buffett9] 19/7/2019 11:37

But Day's shares contain the control premium in any valuation. Since we have below 10%, typically a 60% discount is applied to our minority valuation (thus is industry standard: see hxxps://www.stirling-uk.com/business-valuations-for-minority-shareholders-in-smes/). Therefore though you say the whole company is worth 10x what it is now, our minority shares are only worth 4x the spot price of 8.5p, so about 34p. However given we might have to wait 10 years to realise our investment, applying a discount factor of 6% for 10 years gives us a present value of only 19p per share. This is barely twice the current Ask price of 10p.

[micha14] 19/7/2019 09:50

Its actually very simple, just take the average net earnings for the last 5 yrs and you get 5-6m net income. Put a multiple of 10 and you get a market cap of 10 times current market cap. BTW i havent asked to pay for management. Day the best retailer specialist in the UK.

[buffett9] 17/7/2019 14:44

Yes perhaps. The share capital and share premium accounts amount to £2m or about 4p per share. I'm hoping the shares find support at that level.