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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| French Connection Group Plc | LSE:FCCN | London | Ordinary Share | GB0033764746 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 29.55 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 29.40 | 29.70 | ||||
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 29.55 | GBX |
French Connection (FCCN) Share Charts1 Year French Connection Chart |
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1 Month French Connection Chart |
Intraday French Connection Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 01/11/2021 | 15:16 | *** French Connection *** | 1,950 |
| 03/2/2020 | 19:59 | FCUK ME IM SELLING IT | 274 |
| 20/2/2017 | 15:45 | FCUK ME IM BUYING IT | 541 |
| 02/12/2015 | 11:58 | FCCN Delicious @23p-24p | 6 |
| 05/1/2015 | 08:52 | Could this company come back into fashion? | 2 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 01/11/2021 15:16 by sleepy Galles - the share sales are also by Singer Capital - presumably their market making division - who have to make an announcement as they have some connection with the people bidding for FCCN |
Posted at 27/10/2021 10:53 by sleepy The share purchases are by Singer Capital - presumably their market making division - who have to make an announcement as they have some connection with the people bidding for FCCN |
Posted at 15/10/2021 14:28 by rainmaker If you can buy French Connection(FCCN) at the right level to cover your trading costs(remember there will be no selling costs) then its like a free call option with an interest payment. If there is a competing bid then you make a lot of money but if one doesn't materialise then you get your money back on 22 November 2021 with more interest than you would receive for holding it on deposit. Effectively you are investing in a risk free trade.regards AIMHO, DYOR as I have done mine. |
Posted at 15/10/2021 09:51 by rainmaker Well I've always believed that a higher offer will be received as the chance to buy an international brand with strong licensing fee income are very rare but to buy them at knockdown, bargain prices are even rarer. We have a very successful wholesale division making £14/15mln a year and a brand licensing division making £5mln to £7mln annually under typical, more normal trading conditions and a retail virtually trading at breakeven so the £29mln bid on the table for the Group IMHO is way, way too low.We have quite a few investors buying at 29p to park their money and earn a 3.44% return or approx 41% annualised but they could make considerably more.Whatever happens we won't have much longer to wait to find out-Takeover Panel Statement re French Connection Group plc 14/10/2021 2:31pm UK Regulatory (RNS & others) French Connection (LSE:FCCN) Intraday Stock Chart Friday 15 October 2021 Click Here for more French Connection Charts. TIDMFCCN RNS Number : 1353P Takeover Panel 14 October 2021 2021/23 FRENCH CONNECTION GROUP PLC ("FRENCH CONNECTION") MIP HOLDINGS LTD (A NEWLY INCORPORATED ENTITY DIRECTLY OWNED AND CONTROLLED BY APINDER SINGH GHURA, AMARJIT SINGH GREWAL AND KJR BROTHERS LIMITED) ("MIP") GO GLOBAL RETAIL LLC IN CONJUNCTION WITH HMJ INTERNATIONAL SERVICES LIMITED ("GO GLOBAL") On 5 February 2021, French Connection announced that it had received separate approaches from each of Spotlight Brands in conjunction with Gordon Brothers International LLC ("Spotlight") and Go Global. On 2 March 2021, Spotlight announced that it did not intend to make an offer for French Connection in accordance with Rule 2.8 of the Takeover Code (the "Code"). On the same day, French Connection announced that it had been approached by further interested parties since 5 February, in addition to Go Global, and that it was commencing a formal sale process under the Code. On 4 October 2021, the boards of MIP and French Connection announced that they had reached agreement on the terms of a recommended firm offer for French Connection (the "MIP Offer"), to be implemented by means of a scheme of arrangement. On 9 October, French Connection announced the publication of the scheme circular in relation to the MIP Offer. That circular included notice of the shareholder meetings to approve the MIP Offer, which are scheduled to be held on 1 November 2021. Pursuant to Rule 2.6(d) and Section 4 of Appendix 7 of the Code, the Panel Executive has ruled that, unless the Executive consents otherwise, Go Global must, by 5.00 pm on 25 October 2021, being the seventh day prior to the date of the shareholder meetings, either announce a firm intention to make an offer for French Connection under Rule 2.7 of the Code or announce that it does not intend to make an offer for French Connection. This deadline will cease to apply if, before that time, a third party other than Go Global has announced a firm intention to make an offer for French Connection under Rule 2.7 of the Code. Each of French Connection, MIP and Go Global has accepted this ruling. 14 October 2021 This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END POTFLFFVIALSLIL (END) Dow Jones Newswires October 14, 2021 09:31 ET (13:31 GMT) AIMHO, DYOR as I have done mine. |
Posted at 04/10/2021 08:39 by boonkoh Looking at the share price to 30p bid, looks like there's enough sellers who don't believe the votes are in the bag! |
Posted at 23/9/2021 11:00 by boonkoh 30p..! That would be daylight robbery.Don't forget earlier this year there were 3 other bidders circling. They might appear out of the woodwork now. Strong likelihood that we'll get a counterbid, so I would sit tight unless the share price is like 35-40p.On an underlying valuation level I'll be disappointed to have to sell my FCCN below 50-60p, which I think can be achieved in the next 12 months. |
Posted at 23/9/2021 10:57 by rainmaker French Connection Group PLC Statement Regarding Share Price Movement23/09/2021 10:31am UK Regulatory (RNS & others) French Connection (LSE:FCCN) Intraday Stock Chart Thursday 23 September 2021 RNS Number : 7683M French Connection Group PLC 23 September 2021 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. THIS IS AN ANNOUNCEMENT OF A POSSIBLE OFFER FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS. IT DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. ACCORDINGLY, THERE CAN BE NO CERTAINTY THAT AN OFFER WILL BE MADE. THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) NO 596/2014 AS IT FORMS PART OF RETAINED EU LAW (AS DEFINED IN THE EUROPEAN UNION (WITHDRAWAL) ACT 2018) ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN FOR THE PURPOSES OF MAR. French Connection Group PLC (the "Company") Statement Regarding Share Price Movement As announced on 2 March 2021, the Company is conducting a formal sale process. The Board of French Connection Group PLC notes the recent share price movement and confirms that it has received an approach from a consortium of bidders including the Company's second largest shareholder Apinder Singh Ghura, Amarjit Singh Grewal and KJR Brothers Limited (the "Consortium") as a potential offeror for French Connection Group Plc, which may or may not result in an offer for the Company. The indicated offer price is 30 pence per share in cash. Discussions with the Consortium remain ongoing. Accordingly, there can be no certainty that an offer will be made, nor as to the terms on which any offer might be made (although any offer is likely to be in cash). Further announcements will be made as appropriate in due course. This announcement has been made without the consent of the Consortium. Enquiries: French Connection Group plc Neil Williams, Chief Operating Officer +44 (0) 20 7036 7206 WH Ireland (Sole Broker & Financial Adviser) Adam Pollock (Corporate Broking) Adrian Hadden / Ben Good (Corporate Finance) +44 (0) 20 7220 1666 Paternoster Communications Tom Buchanan +44 (0) 20 3012 0241 Further information WH Ireland Limited, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for the Company and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than the Company for providing the protections afforded to its clients or for providing advice in connection with the subject matter of this announcement. This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of any offer to buy, sell, subscribe for any securities or the solicitation of any vote in any jurisdiction. The distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction. Disclosure requirements of the Takeover Code Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure. Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3. Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4). Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel's website at www.thetakeoverpanel Website publication In accordance with Rule 26.1 of the Code, a copy of this announcement will be published on the Company's website at www.frenchconnection Rule 2.9 disclosure In accordance with Rule 2.9 of the Code, the Company confirms that, as at the date of this announcement, its issued and fully paid share capital consists of 96,612,934 ordinary shares with a nominal value of 1 pence each. The International Securities Identification Number (ISIN) for the ordinary shares is GB0033764746. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. END SPMFZGZLLFGGMZG (END) Dow Jones Newswires |
Posted at 14/9/2021 13:56 by rainmaker "This is an excruciating long wait since the last update."Boonkoh,if you're not already familiar with it, welcome to wonderful world of Stockmarket Value Investing and all those personal qualities eg patience,discipline etc that your Primary School told you were important but you didn't understand why at the time but you do now!I calculate French Connection's intrinsic value to be substantially above current prices and IMHO we therefore have a huge margin of safety acting as a buffer or cushion to protect us. If you read the annual reports, you'll realise that the average retail shop lease has very little time left to run and that as leases expire, French Connection are ruthlessly negotiating sharply lower rents and more flexible terms or simply handing back the lease. Of course in the current, very testing high street retail climates with plenty of unoccupied retail outlets, the Landlords are only too willing to oblige. So I believe the days of massive loss making retail outlet division for French Connection are long gone. The other two divisions, the wholesale business which is particularly strong in North America and the licensing business are both excellent businesses. FC also have some £26mln of tax losses to utilise so forgetting the prospective bidders for a moment, if we have news of more favourable trading- which IMHO we should get and a retail division near break even then IMHO the share price can easily double from current levels. AIMHO, DYOR as I have done mine. regards and best wishes |
Posted at 06/7/2021 17:11 by rainmaker For anyone holding or has an interest, fashion retailer, French Connection(FCCN), 18.70p/18.85p currently subject to bid interest from three separate parties are due a trading statement this month. Last years was on 24/7/2020. You would think that current trading would be good, April's retail sales were the best since August last year. A constant stream of selling from impatient holders has kept the share price under pressure. IMHO a bid was never going to come quickly, the CEO, founder and 41% shareholder apparently rejected a 42p a share last January and he obviously, and very reasonably wants a lot more. I calculate French Connection's intrinsic value to be circa 120p a share(its not that difficult to work out) and of course no one will pay anything like that in the current economic climate and with FC's current trading performance unless someone makes a move and they go into play. FC have a valuable brand and IMHO is worth a great deal more than the current share price-just ask DFS.AIMHO, DYOR as I have done mine. regards |
Posted at 22/8/2018 15:33 by lomcovaks Joules, Paul covered the HoF situation in his daily small cap report of the 14th August.hxxps://www.stockope I know he occasionally reads these boards so I do hope that he won't mind my copy and pasting the relevant section here for the interest of members who may not subscribe to the Stockopedia article. It's free and a wonderful resource for investors:- French Connection (LON:FCCN) Share price: 48.1p (+0.4%) No. of shares: 96 million Market cap: £46 million A brief comment from me on the situation re French Connection (LON:FCCN) and its exposure to House of Fraser. This has been a known issue for some time, for people who understand the business. FCCN has concessions (a store within a store) in department stores, including House of Fraser. These are typically small operations, with minimal staff and little stock. The way concessions work is that all sales are "banked" through House of Fraser's EPoS system. HoF then sits on the money for, I am told, about 2.5 months. As HoF has been on the brink of going bust for some time, it was worth working out the potential liability to FCCN. Thankfully, a retail FD friend of mine worked out the figures some time ago. He reckoned there was a potential bad debt to FCCN of about £2m (probably less), if/when HoF went bust. Since HoF went into Administration, then that crystallises the loss for FCCN and other concessions. Mike Ashley would not be paying those debts as part of his acquisition, as pre-Administration trade payables are unsecured creditors, hence usually are paid nothing in this type of insolvency. How is the £2m estimated bad debt for FCCN worked out? Estimated 40 concession sites within HoF stores. Estimated annual turnover per concession of £200k Giving £8m estimated annual revenues for FCCN from its HoF concessions. Assume the bad debt is perhaps 3 months takings, arriving at an estimate of £2m bad debt for FCCN. That's not material, since FCCN has a market cap about £46m, and has substantial net cash - so it can afford to write off a £2m bad debt without any consequences. FCCN will also have to write-off fixtures & fittings related to its HoF concessions, or at least the ones that are to be closed. This again will not be material, and is non-cash, so not a problem. The inventories within HoF stores remain FCCN's property, and if necessary can be moved to other FCCN sites, so there should not be any write-offs relating to inventories. Going forwards, this might prove a nice opportunity for FCCN to accelerate the reduction of its heavily loss-making retail division. So I feel that, once the dust has settled, the market might actually see this as a positive. To reiterate, the sooner the FCCN retail stores are closed, the better, as they lose money hand over fist! The value in the business is the profitable wholesale & brand licensing divisions. It amazes me that this is so obvious, yet "the market" seems oblivious to it. There was a takeover approach last year, which must have been serious, since the board apparently spent several months assessing it & allowed the potential acquirer to do due diligence. It's only a matter of time before the business is sold, because the founder/chairman is into his 70's now, and must be looking for an eventual exit (otherwise he wouldn't have engaged with the potential acquirer last year). I've worked out that FCCN has several stores which are literally black holes for cash, in terms of losses. The leases on these should soon expire. That means that profitability should make a step change upwards. That's what's interesting about this cash-rich company. The brand is still very valuable, and I'm hoping for an eventual payout here of 100-200p, on a trade sale. This special situation is certainly one for patient investors only! I'll be insufferable when the payday does finally come, lol! The recent share price softness, presumably on worries over HoF, looks overdone to me, so if it goes much lower, I'll be topping up. But it's already one of my biggest long positions, so maybe it's not wise to tie up too much cash in this one? I imagine there is likely to be an RNS from FCCN very soon, detailing the cash losses due to HoF insolvency. It should also give us some detail on the non-cash write-offs (e.g. F&F), plus an update on what's happening going forwards. I imagine this is likely to say that some HoF concessions will continue, but some will be closed. They'll obviously only keep the profitable ones, and this is a nice opportunity for FCCN to re-negotiate terms with Mike Ashley, on a take it or leave it basis (giving him a taste of his own medicine!). Therefore FCCN should emerge with a more profitable concessions operation after this process has been completed. Hence I'm rather looking at this as glass half full, rather than glass half empty. |
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