Brown (n) Share Discussion Threads

[red ninja] 08/10/2021 11:03

Also from Note 16 :-

On 9 April 2020 JDW received a Reply and Defence to JDW's counterclaim. This document asserted that the amount of the Insurer's claim was £28m plus interest. A Claims Management Conference was held in September 2020 following which a timetable to trial was set by the Court. The deadline for disclosure was extended due to challenges resulting from searching legacy systems and the very substantial volumes of data and documentation involved and was substantially completed in April 2021.

On 10 June 2021 Allianz sought leave to increase the scope of its original claim in relation to a further customer redress exercise ("the Additional Cohort"), yet to be undertaken. Allianz estimates the value of this additional element of the claim, to be up to £36m. Allianz also revised the value of its original claim to £30m plus interest.

A second Claims Management Conference (CMC) was held on 25 June 2021, at which the Court permitted Allianz to bring forward its amended claim. JDW subsequently filed and served its amended defence by the deadline of 26 July 2021. At the second CMC the Court also (among other things):

· Vacated (cancelled) the March 2022 trial date.

· Set a third CMC date for late January 2022. The trial will not now be rescheduled until January 2022 and will not take place until very late 2022 or possibly early 2023;

· Varied the existing ADR order to provide for the parties to take steps toward Alternative Dispute Resolution (ADR) before 10 January 2022, in advance of the third CMC.

[red ninja] 08/10/2021 10:58

Paulof2,

Have you factored in the highest cost of settling the Allianz claim against BWNG :-


"Allianz claim and counterclaim

The Group is currently involved in a claim and counterclaim with Allianz Insurance plc regarding the sale of historical insurance products. The claim and counterclaim are extremely complex and proceedings remain at an early stage. Each party has undertaken a long disclosure exercise with further elements still to be completed. The Group has concluded that these issues mean it is not possible to reliably estimate the amount of any potential financial outflow and has, therefore, not made provision for this claim at this time and instead a contingent liability has been disclosed. Further details can be found in note 16."

[ivancampo] 08/10/2021 10:36

Reckon family just topped up .

[muffster] 08/10/2021 10:00

True, but it can't sell the volume of clothes it needs to grow. Remember Earnings have declined by 34.1% per year over past 5 years

[paulof2] 08/10/2021 09:23

The value here is really quite astonishing.

After the huge cash generation last year combined with focusing on profitability N browns net assets (completely excluding intangibles) are now £318m / c. 70p a share.

At these prices you are getting a 30% discount to NAV with a £100m EBITDA a year company thrown in for free.

[red ninja] 08/10/2021 09:11

Yes pleasing progress in the turnaround and looks like the Allianz issue may take some
time to resolve in court as they state :-

"Allianz claim and counterclaim

The Group is currently involved in a claim and counterclaim with Allianz Insurance plc regarding the sale of historical insurance products. The claim and counterclaim are extremely complex and proceedings remain at an early stage. Each party has undertaken a long disclosure exercise with further elements still to be completed. The Group has concluded that these issues mean it is not possible to reliably estimate the amount of any potential financial outflow and has, therefore, not made provision for this claim at this time and instead a contingent liability has been disclosed. Further details can be found in note 16."

[masurenguy] 08/10/2021 07:24

Promising interims but the outcome of the unquantifiable Allianz issue is still an uncertain liability !

[transhoneyqueens] 07/10/2021 16:52

hope to see 60p tomorrow

[hotaimstocks] 07/10/2021 13:54

Sosandar trading update today ... helped us rise ?

[alba_gu_brath] 03/10/2021 09:42

I've seen TV and YouTube advertising for Jacamo and it won't have been cheap to sign up the ambassadors for Simply Be. Web traffic looking strong - will that include App customers as that's how I access the Jacamo website

Hopefully get a positive update next Friday, good.luck to all.holders

[paulof2] 01/10/2021 19:22

Added today.

Web visitor numbers remarkably positive, given they barely advertised last year I’m expecting pretty substantial revenue growth.

They won’t be immune to input price increases as every other online retailer is at the minute so I do expect that to be mentioned. It’s also been a pretty difficult quarter for online retail in general, the difference I feel is boohoo etc are priced to grow at 30% a year so any miss causes a collapse in the share price where as I feel n brown is priced to grow at 5% max, much easier to beat especially given they have reinvested in marketing.

I think what the market wants to see most when it comes to n brown is a return to some form of growth, something I firmly believe they will be able to deliver next Friday.

[jackson83] 01/10/2021 16:52

nobody knows how low or how bad things will get before improving lol

[jackson83] 01/10/2021 16:17

maybe a market cap of 150m soon

[hotaimstocks] 01/10/2021 14:24

GET THOSE SHORT ON.

[red ninja] 01/10/2021 11:31

Clearly BWNG falling with global markets :-



Maybe we are seeing the much heralded correction to US shares.

[hotaimstocks] 01/10/2021 11:22

possible 35p entry next week.

[hotaimstocks] 01/10/2021 11:15

looks like some are selling up again lol ... 40p top up soon

[jackson83] 01/10/2021 11:04

SHORTING TO 45p lads .. now 47p .. 2p more then buy back in lol

[red ninja] 30/9/2021 16:27

Oh stop it Jackson83 you are an embarrassment.

BWNG bouncing upward again, it seems 50p is providing good resistance.

[jackson83] 30/9/2021 16:24

SHORTING NOW!!!!!!!

[jackson83] 30/9/2021 16:17

we probably won't see 10p again

[jackson83] 30/9/2021 16:09

top up at 30p soon

[jackson83] 30/9/2021 13:16

boohoo shock profits warning and N brown has held up well as we await the 7% dividend news.

[red ninja] 30/9/2021 09:02

I would have thought they would want to maintain cash levels (ie no dividends) in case the Allianz case in March next year goes against them.