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Koovs Share Price - KOOV

Share Name Share Symbol Market Type Share ISIN Share Description
Koovs LSE:KOOV London Ordinary Share GB00BHB22S55 ORD 1P
  Price Change Price Change % Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00 +0.00% 29.00 28.00 30.00 29.00 29.00 29.00 1,329 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m) RN NRN
General Retailers 2.1 -9.4 -27.6 - 6.99

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Date Time Title Posts
21/10/201514:20Koovs plc342

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harebridge: A great article by Paul Scott on Stockopedia about KoovsKoovs (LON:KOOV)Share price: 44p (down 31% today)No. shares: 24.1mMarket cap: £10.6mResults y/e 31 Mar 2015 - these have been published just in the nick of time, as they're now 6 months old, and I think the shares would have been suspended if results had not come out today.Anyone who thinks that it's easy to create & build a fashion website, should take a look at the mess that Lord Alli has made of things here. Remember too that he's experienced, having been involved with Asos for many years, so he should know how to do it.The reality is that it's painfully slow, and very costly (especially marketing spending) to create a successful online retailer. Sure, there are few barriers to entry, but there are massive barriers to scaling up to a decent size. Creating a transactional website is easy, but getting large numbers of people to repeatedly buy from it, is very hard. Making a profit is harder still.Koovs generated only £2.1m in revenue for the year, and incurred a staggering £10.8m operating loss! There was only £13.7m cash left in the bank, so only enough to take them into roughly mid-2016, at that rate of cash burn.Bizarrely, the company confirmed on 2 Apr 2015 (which I reported on here) that it would need more funding. That's a terrible mistake, as it then means the existing shares can become virtually worthless, if providers of the next stage funding play hard ball. It's OK if there are financiers falling over themselves to invest, but on the back of the company's dismal performance to date, it's difficult to see why anyone rational would want to back this with more money.Worse still, Koovs today says that it hopes to raise another £35m for continued losses, saying that the first tranche should be raised by the end of 2015. This means heavy dilution, as new investors are bound to demand a deep discount. The more dilution, probably at an even lower price, in 2016 and 2017.My opinion - I think they should have adopted a far more modest business plan, instead of going for growth, and burning huge amounts of cash. It all hinges on whether new investors are prepared to throw substantial amounts of more money at it, or not? The existing shares have no attractions at all, in my view. I'd rather wait until it's properly funded, and is showing the first signs of being a viable business. It's a long way from that right now.It's been a disaster for shareholders so far, as you can see from the chart below. Why invest in this, when you can invest in a successful, strongly growing, profitable, online retailer like Boohoo.Com (LON:BOO) (in which I hold a long position) at a reasonable price?560bdae66af6aKOOV_chart.PNG- See more at: http://www.stockopedia.com/content/small-cap-value-report-gbo-107216/#.dpuf
hazl: interesting imo http://www.grant-thornton.co.uk/en/Thinking/India-Watch-Small-Cap-Index-falls-further-in-Q2-2015/?previouspage=7262IMO Similarly, Koovs plc, an online fashion retailer specialising in women's clothing, saw its share price fall 37.9% from the previous quarter. Recent discussions over a fundraising exercise to cover rising marketing costs is the most likely cause of this falling share price. In the year to 31 March 2015, Koovs' marketing costs were INR210 million (£2.1 million) greater than anticipated. However, Koovs is not the only fashion retailer experiencing a rise in marketing costs, with ASOS reportedly experiencing similar issues. Country outlook - See more at: http://www.grant-thornton.co.uk/en/Thinking/India-Watch-Small-Cap-Index-falls-further-in-Q2-2015/?previouspage=7262#sthash.kiDDx5cb.dpuf
bozzy_s: I have no financial interest in these. Just noticed them as top % losers and read the results & previous 50 posts on here. Had to look at the Facebook link in 323. Think you've made the right move hazl. Painful in the short term - been there and done that myself (as well as hang on too long to a non-performing stock) - but there is zero chance of these rising substantially from here. The results are dire, and the company is burning cash like no business. It also failed to raise funds when the share price was higher and sentiment more positive. Reckon this company needs to slash its cost base and lower its expectations. There are tons of clothes websites in India, as well as the likes of eBay. No point in trying to compete with these. Just keep existing customers happy, aim to grow by good reputation / word of mouth, and keep central costs to an absolute minimum - as other online retailers do. Should be spending around £0.5m per year for everything, including share listing fees and customer support team - to keep all customers happy.
hazl: THANKS SAUCEPAN its good to have feedback both positive and negative. The thing I will say is that even before I look it is clear that it is a very competitive market and in that regard, it could be competitors rather than real customers,writing, that is a possibility and I have read of it happening over here so who knows? Also I was just reflecting on the fact that over the last month or so,through the turmoil KOOV has done remarkably well,share-price-wise, compared to many firms. As ever it is upto the individual for conclusion. IMO
harebridge: The article you're talking about was from Paul Scott- or 'Paulypilot' as he's known by on Advfn.Trading update - the market is seriously unimpressed with this update, with the shares down 45% this morning. Growth for the year ended 31 Mar 2015 has been strong in percentage terms, with sales up 268%, but it's coming from a very low base, so £720k last year, and £2.65m this year just finished.Koovs is an early stage fashion website in India, and it was hyped up as being the next Asos, since its Chairman, Waheed Alli was involved with Asos for many years.Trouble is, it's not easy to create a successful fashion business online. People mistakenly think there are few barriers to entry, whereas actually you have to invest a considerable amount in warehousing, stock, the website itself, but then of course you have to spend millions on marketing to drive customers to the website. In this case the company says it spent £3.2m on marketing in the y/e 31 Mar 2015, so that's more than their entire turnover! This was almost three times what was originally planned.There was net cash of £12m at the year end, so at £15.7m the market cap actually looks quite reasonable, and I would have been prepared to take a punt at this level. However, the fly in the ointment is this statement, which looks a massive own-goal to me;My opinion - telling the market that you have £12m, but that you're going to spend the lot and come back for more, is a ridiculous thing to do, in my opinion. Of course the shares are going to be smashed down, because everyone will just wait for the Placing, instead of buying in the market now.Having said that, I am tempted to have a nibble at this level, as the market can suddenly change its focus to growth rather than cash burn. Also, maybe existing shareholders might tell the company to manage with the cash they already have, rather than agreeing to a further fundraising? Lord Alli owns 19.6% of the company himself, so presumably will not be keen on dilution at this sort of price, which makes it all the more perplexing as to why this has been handled in such a ham-fisted way.The market is being brutal at the moment towards micro caps that come back fro more cash, just look at what happened with Synety recently - its share price halved on a tiny follow-on fundraising.
harebridge: It's not the norm to mention a placing, because the vast majority of companies, especially in AIM only leak this sort of news to their 'mates' who will benefit from a placing at a much lower price. Long suffering PI's, who are always the last to know, just sit back & watch in bewilderment, as the share price is sold down/ shorted & drifts down to the placing level.So fair play to Koovs, for being honest. The markets aren't used to honesty!The potential in India is mind blowing. The team here is vastly experienced in this field (Ex ASOS).Tested the water on Thursday & will add over the coming months pending the outcome of the placing.
hazl: If we don't hear anything before; then next preliminaries are 2nd of July....not long to wait. Have been pretty impressed with how static the share-price has remained in the last weeks since the announcement and of course the director bought shares on the drop. IMO
nina65: Home / Corporate / Shareholder Information SHAREHOLDER INFORMATION Koovs plc ordinary shares are admitted to trading on the AIM market of the London Stock Exchange and the Company has not applied or agreed to have any of its securities admitted or traded on any other exchanges or trading platforms This information is correct at 10 March 2014 Admission document Click here Share price Click here Shares and shareholdings Ordinary Shares Total number of shares in issue: 24,110,719 Significant shareholdings: Silvergate Investments Ltd 4,714,286 (19.55%) Exicom Telesystems (Singapore) Pte Ltd 3,622,283 (15.02%) BlackRock Fund Managers Ltd 1,702,080 (7.1%) Hargreave Hale Limited 1,702,080 (7.1%) Henderson Global Investors Limited 1,702,080 (7.1%) J O Hambro Capital Management Limited 1,702,080 (7.1%) JPMorgan Asset Management (UK) Limited 1,702,080 (7.1%) Smith & Williamson Investment Management LLP 1,418,400 (5.9%) Directors' interests: Lord Waheed Alli 4,714,286 (19.55%) Mr Anant Nahata 3,622,283 (15.02%) Mr Robert Bready 838,095 (3.48%) Share options granted Name Date of grant Exercise price Number of shares Roy Naismith 3 March 2014 150 pence 241,107 Dame Gail Rebuck 3 March 2014 150 pence 60,277 Emily Sheffield 3 March 2014 150 pence 60,277 Options are exercisable, subject to performance conditions, between 3 March 2018 and 3 March 2024. Restrictions on share transfers There are no restrictions on the transfer of shares. Free float As far as the Company is aware, the percentage of the Company's issued share capital that is not in public hands is 38.1%. CONTACT US FOLLOW KOOVS

Koovs Most Recent Trade

Trade Type Trade Size Trade Price Trade Date Trade Time Currency
O 1,329 28.25 30 Nov 2015 10:25:55 GBX

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