Bonmarche Share Discussion Threads

[kinwah] 27/6/2019 03:18

Debs, PD cannot withdraw his offer. That is only allowed under Takeover Panel rules if there has been a material change in the business which there hasn't been. He could of course give notice that the offer will close. It's likely that Bonmarche will need serious surgery so it looks as if his offer will now get the 75% to delist unless a sizeable minority shareholder refuses to play ball.

[debsdowner] 26/6/2019 10:55

tombboyb

Most retailers suffering and a possibility of worse to come with a no deal BREXIT and possibly a recession knocking on the door.

Philip Day may back down on his offer no who knows. If I was Philip Green I would withdraw my offer and await a pre-pack administration BONMARCHE trading will get worse and go into loss imo.

[tomboyb] 26/6/2019 09:01

It does look to me like there is a big storm brewing -

Retailers will suffer -

Apart from defensive plays I think a downturn has begun -

[debsdowner] 26/6/2019 07:56

Be careful as Philip Day may not reconsider bid and if trading worsens administration lingers:

[jbongo] 28/5/2019 17:09

Yes, I suspect he wants the share price to drop a bit or for funds to get sick of the stock so he can get his 75% to delist. That ain't gonna happen if he steps in straight away and turns it round.

[kinwah] 28/5/2019 15:36

I had a good look at a Bonmarche branch on Sunday in a small market town. Completely empty apart from the 2 staff. Much of the stock could have been from the 1980s. Day knows this end of the market well. Older age range than Select or New Look but impossible to compete with Primark. There is a niche there in the smaller towns as its customers aren't the online shopping types however the styles and pricing have to be spot on. My view is Day will let the existing management fail then he'll move in to take control of the buying.

[lw425] 17/5/2019 19:26

Worth taking a look at the headline bullet points for the FY 2018 as this is indicative of 'normal trading'.





Market cap at 16p is only 8m.

[lw425] 17/5/2019 19:16

Yes looks like it's business as usual going forward.

Any hint of normalized trading based on all historical accounts other than the last 6 months should see an easy 150% here in reasonable time.

Should trading for the current financial year just started match the historical average then anyone buying now would eventually see a divi of 50% a year + huge capital growth.

Should really now be mid 20's ahead of results which would still only be a tiny market cap of 12m.

A 'green shoots' forward statement this summer will see a 40p target hit.

[jbongo] 17/5/2019 18:07

Some very catty passive aggresive comments between the bonmarche board and Spectre in the recent RNS's.
Spectre going to allow the directors to carry out the cost cutting (that they were definitely going to do anyway...) following a 0.3% take up of the buyout offer.

[mnomis] 18/4/2019 11:20

Not sure why bother responding to stupid comments.

[w1ndjammer] 18/4/2019 10:40

No chance of this delisting sub 50p

WJ.

[opodio] 18/4/2019 07:49

when delist day set

[danny baker] 12/4/2019 10:48

Sizey, clearly there would be short-term cost savings from delisting. Day wouldn't need to pay for all that waffle on environmental compliance and corporate governance that pads out annual reports these days and he could ditch the non-executives. However with Cavendish trying to buy all the available shares, Day is not going to be given the option of delisting. I disagree on the fund raising point. My gut feeling is he is very long on assets which some people value at £1 billion but I doubt that he has more than a few per cent of that in available cash. He has been buying thousands of acres of farmland in Cumbria, allegedly, which doesn't come cheap. I can easily see the attraction of raising some extra cash but whether or not he fancies stepping into the public eye is another matter. He did though put himself forward to join the board of Stobart so he is not dead set against the idea. To my mind, Bonmarche is a nice little trial run for him - he can demonstrate a successful turnaround by improving buying terms and cutting costs then decide at a later date what he really wants to do.

[w1ndjammer] 12/4/2019 10:35

There you go thats Cavendish saying No compulsory purchase of Bon shares

WJ.

[s1zematters] 12/4/2019 09:52

Looks like Cavendish bought all those 3 sells yesterday ,a grand total of 6900.
Danny you many be correct however my opinion is that the quickest saving apart from sacking the bod is to de-list.
It's hard to see what he gains from a public listing as he densest need to raise funds and that is the primary reason for a listing.
However we shall see how it plays out, certainly looks like what i previously mooted ,that being Cavendish have an order in for any of the share sales that come in at this price.

[micha14] 12/4/2019 09:23

The Management and employee trust together have 4 percent, which means that Cavendish (10pc), Artemis (12pc) and management (4pc) are enough to keep Day at bay, even without Stadium. Looking much more reassuring now

[mnomis] 12/4/2019 08:28

Wow, finally the board has managed to issue a release on this. Pathetic. Looking forward to new management to take this forward.

[w1ndjammer] 12/4/2019 08:23

bang on the money there Danny

WJ.

[danny baker] 12/4/2019 08:11

The BOD have tried their best with that response. I think it is far from clear if Day is serious about trying to reach 75%. Spectre is completely separate from EWM so there is no immediate indication of an intention to fold Bonmarche into the rest of Day's empire. If Day has been advised properly he will have been told that the other shareholders are unlikely to accept his measly offer. He probably accepts that he won't win many acceptances and is now resigned to keeping Bonmarche listed and in the public eye. I think he may see this as a trial to see whether he could deal with the City exposure. Branson did the same - floating a Virgin business before buying it back again a year or so later. Lucky Bonmarche shareholders get a free ride on Day's turnaround skills and probably in a year or two's time either a sensible bid to take it private or a reversal of other Day interests into Bonmarche. A potential win-win. Shame the shares are too illiquid for me to get a decent holding.

[s1zematters] 12/4/2019 07:49

"In view of Spectre's position as the majority shareholder in Bonmarché, the Board has sought to engage with Philip Day to discuss the future plans for the business for the benefits of all stakeholders. The Board continues to seek positive engagement with Philip Day and looks forward to discussions in due course. "

With all due respect to the board , he isn't going to get involved in pointless debate with people who have no future at the business and moreover the architects of its demise is he?

Sitting and waiting for the increased offer, although we are dealing with a good old fashion city Fox in Day (Who unlike the bod i have upmost respects for) so it may take a couple of increases offers to squeeze max out of this.

Be under no illusion, he isn't going to be paying 1p more that he has to to get 75%, but i believe that to get past that mark he will have to pay 20-25p.

aimho

We will see.
God luck all.

My rene still flying - BOD buys RNS last night.

[s1zematters] 11/4/2019 15:37

Cavendish buying more , it looks like any stock sold to the MM is being moved onto Cavendish.
When the sellers dry up at this price the only way they will be able to get the stock Cavendish needs badly to protect their existing investment is to up the price.

[w1ndjammer] 10/4/2019 14:33

yep Cavendish sending out the right signals..

WJ.

[w1ndjammer] 10/4/2019 14:33

yep Cavendish sending out the right signals..

WJ.