Share Name Share Symbol Market Type Share ISIN Share Description
Debenhams LSE:DEB London Ordinary Share GB00B126KH97 ORD 0.01P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 1.83 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
1.80 1.90
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 2,277.00 -491.50 -37.50 22
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 1.83 GBX

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17/4/202017:21Debenhams charts/news28,112
12/4/201905:36Debenhams (DEB) One to Watch on Wednesday 7
29/11/201711:59Debenhams re-listed20
05/10/200323:29Debenhams is OK175

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dredger: Been following this thread for a few weeks now. I used to work in Fin Servs (36 years) for one of the largest global fin servs co.s. The Life&Pensions arm of the co. Early retired 2 years ago just before my 55th bday. I've dabbled in shares over the years but in the main i put my trust in fund managers, with a regular premium stocks&shares ISA. Since retirement i've built a small portfolio of shares; mainly income divi producing shares; boring i know; the likes of Aviva, SSE, ITV,ABF. My only two shares i hold with share price growth potential are Boohoo and Hurricane Energy. I'm not a big player and prefer to hold for a time, rather than aggressively trade. In fact, the increased activity of quick buy and sell (short term traders) over last few years is, at times, faslely skewing and unsettling the market. It is making it v difficult for many many folks, in the main people of an older demographic to have faith in investing for medium to long term. Even some fund managers are getting tired of aggressive shorting as it creates instability and volatility. I have always held right wing views, always voted Tory; i'm no Socialist, but i fear that if The Marx Brothers (Corbyn and McDonnell) gain control at next GE they will introduce controls on share trading. Expect shareholders not to get voting rights until they hold shares for 6 months; possible ban on short selling; maybe we'll have to hold shares for 3 months before one can sell. I think the hedge funds and short traders will only be to blame if a Left wing UK govt brings in such controls. As for Debenhams the board has behaved with upmost pomposity. I'm no fan of Ashley but the Debs board have been super arrogant. Of course, Debs issues started years ago when the Private Equity buyers screwed them over. Yes, aspects of Debs 5 year strategy has been supremely flawed, tied down by leases with long tie-ins. A hell of a lot of unanswered questions over board activity, etc from the last year or so. How did a near-30% shareholder get effectively locked-out of discussions or insight as to Debs future? Will the regulatory authorities look at this? Declaration- i'm not a Debs shareholder, but this whole business smells. The private investor/shareholder who doesnt trade long and short aggressively will ask him and herself, is it worth the risk anymore? Then capitalism really does start to die and The Marx Brothers will gain their platform with their very hard Socialist mandate. Cheers
icac: SPD holds 30m debs shares, if debs were to be handed over to creditors then SPD share price would also tank and lose huge value in SPD market cap itself. Debs hardball wording in each RNS is to push MA to splash more cash out.. at the end theres only one outcome, MA has to do anything to take control and also preventing SPD market cap from tanking.. DYOR.. the share price of debs will be over 3p sometime this week. If SPD did not own 30% of debs then MA would have waited to pick this up from admin.. 👍👍
debsdowner: Breaking news Mike Ashley threatens legal action if the company doesn't make him CEO then he would back funding: Http:// Guardian Https:// FT: Https:// Ashley ramps up legal threats as Debenhams deadline looms "Sports Direct founder has until April 8 to make formal bid for store chain Mike Ashley has engaged in increasingly hostile rhetoric with Debenhams as the store group pursues rescue financing Mike Ashley, the billionaire founder of Sports Direct, has stepped up threats to take legal action against individual directors at Debenhams as the prospect of him participating in a rescue of the struggling department store group recedes. A letter dated April 4 from Sports Direct to the Debenhams board, seen by the Financial Times, repeated the view that “the directors have not acted in the best interests of the company or to promote its success” and alleged they could be in breach of various duties as outlined in the UK’s Companies Act. It requested that Debenhams provide documentation relating to refinancing proposals including minutes of meetings that covered Sports Direct’s various offers of financial assistance. These would “allow Sports Direct proper opportunity to assess . . . whether there are good grounds for bringing a derivative claim against some or all of the members (or former members) of the board, and on what grounds,” the letter said.Mr Ashley and his team have engaged in increasingly hostile communication with Debenhams as the department store group has tried to push through a rescue refinancing that Sports Direct, its largest shareholder, opposes. He has on several occasions warned Debenhams’ directors that he could pursue legal action against them for breaches of fiduciary duty. Last month, Sports Direct’s deputy finance director Chris Wootton pledged to “leave no stone unturned in pursuing those responsible for this long-planned theft”, a reference to the financial restructuring that will most likely lead to Debenhams’ lenders taking control of the group via a “pre-pack” administration. The talk of legal action comes as Mr Ashley’s capacity to influence events at Debenhams wanes. The company has set a deadline of April 8 for Sports Direct to state that it will either launch a takeover bid or confirm that it will underwrite a rights issue.Sports Direct has protested that it has not been provided with sufficient financial information or time, and said the urgency was at odds with statements earlier in the year that Debenhams would need to refinance within 12 months. “I would give him a 1 per cent chance of success [of preventing a pre-pack administration],” said one restructuring adviser. “The bar has been set so high by the creditors. ”Mr Ashley’s problem is that a full takeover bid would trigger change of control clauses in Debenhams’ bank and bond debt, potentially requiring him to refinance more than £500m of borrowings — equivalent to a doubling of Sports Direct’s existing net debt. The other alternative proposed by Debenhams — Sports Direct underwriting a £200m rights issue — could lead to an even more expensive outcome, depending on how many other investors take up their shares. A fundraising at Debenhams’ current share price of 2p would require the issue of 10bn new shares. In that scenario, just maintaining its equity stake at the current 29 per cent level would cost Sports Direct almost as much as buying the remainder of the existing shares at 5p each, as it indicated it might do.Debenhams’ share price, which had spiked as high as 5p per share after Sports Direct indicated that it was considering a bid for the remaining equity, is now back at 2p. Sports Direct’s own share price is little changed. The department store chain previously stated that it would not provide a response to an earlier request for information about the proposed refinancing from Sports Direct “if it is framed in the context of contemplated litigation”. Debenhams declined to comment on the latest correspondence."
bricktycoon: RNS tomorrow, then tomorrow again is but a fallacy created by people with short positions running.Mike Ashley has until the 8th April to bid so I have that as including tomorrow, the whole weekend and including Monday itself and it can be done at any time of the day. He would just have to notify the board of a tabled bid and the terms.Just on another deramping ploy - debt. All companies have debts. Sports Direct havemany millions so that will not put Mike Ashley off. What it means is that he doesn't need to stump up £200M from his own war chest. Remember what was said, the bondholder process and outcome was a "waveable" condition.Debenhams will still be trading all next week and for the foreseable future as will the share priceOne thing is for sure, a reducing share price will imo only make it more appealing to him to bid and if he gets an opening shot at 4p instead of 5p then he will be happy. Mike Ashley will not be wishing to see £150M of Sports Direct money flushed down the drain and his intent for me is apparent with him recently having increasing the stake in Debenhams to 29.90%. The guy plays to win.Just imo buy buy buy skyrocket time
qantas: Amazing others are above the law other than debsdowner. LSE:DEB Debenhams Share News (DEB) 5 Following DEB BuySell Share Name Share Symbol Market Type Share ISIN Share Description Debenhams LSE:DEB London Ordinary Share GB00B126KH97 ORD 0.01P Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade -0.09p -4.31% 2.00p 1.95p 2.10p 2.15p 1.802p 2.10p 24,930,985 09:14:18 Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m) General Retailers 2,277.0 -491.5 -37.5 - 24.56 Print Alert Sports Direct International Plc Statement regarding Debenhams plc 29/03/2019 9:17am UK Regulatory (RNS & others) Debenhams (LSE:DEB) Intraday Stock Chart Today : Friday 29 March 2019 Click Here for more Debenhams Charts. TIDMSPD TIDMDEB RNS Number : 4661U Sports Direct International Plc 29 March 2019 Date: 29 March 2019 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 OF SUCH JURISDICTION. SPORTS DIRECT INTERNATIONAL PLC ("Sports Direct" or the "Company") Statement regarding Debenhams plc Sports Direct refers to its announcement of 26 March 2019 regarding the pre-conditional possible offer for Debenhams plc ("Debenhams") at 5p in cash per ordinary share (the "Proposal"). Sports Direct also refers to Debenhams announcement of 28 March 2019 regarding Debenhams noteholder consent solicitation process. As the termination of Debenhams noteholder consent process was one of the waivable pre-conditions to the Proposal, Sports Direct is giving further consideration to Debenhams' announcement in the context of the Proposal. Enquiries: Numis (Financial adviser to Sports Direct) Luke Bordewich Stuart Ord +44 (0) 207 260 George Fry 1000 Sports Direct Please do your own research as always.
fenners66: leadersoffice 28 Mar '19 - 07:58 - 25695 of 25745 ".. I was scoffed at when I suggested north of 8p. The share price has been hammered down by shorting scum. If it wasn’t for that... yes the price of Debenhams wouldn’t be pretty, but we would be talking of a bid north of 15p to 20p" So you believe that shorters are to blame for the share price. The largest short on the market used to be Ocado now their share price is soaring. Shorters don't kill share prices the companies results , directors and debts do. So you don't believe LOSING £491m , having £Billions of lease obligations £100's Millions in debt, a BoD with a failing strategy and a refinancing announcement talking about bondholders sharing in the assets of the company on a Distressed Basis , has anything to do with the share price ??? !!!
debsdowner: itc Yes he is a shareholder and if he wasn't he only needs 1 share to take an action. In the meanwhile the.. FT Https:// Debenhams shareholders may lose investments under refinancing plan Warning comes as Sports Direct offers to buy Danish unit for £100m "Debenhams has warned that shareholders risk losing their entire investment as creditors and Mike Ashley’s Sports Direct head for a final showdown over the future of the 200-year-old department store group. The struggling retailer, which is trying to refinance its debt and restructure its estate after a string of profit warnings, said certain restructuring options “would result in no equity value for the company’s current shareholders”. It is the first time it has publicly acknowledged the possibility. Debenhams’ share price promptly fell three-fifths to just over 1p, although subsequently recovered some of the losses to trade 30 per cent lower. The company’s market value is now just £24.5m, or about four days’ sales. Separately, the chain’s biggest shareholder, Sports Direct, on Friday proposed acquiring Magasin du Nord, the Danish department store business that Debenhams tried to sell last year, for £100m in cash “to assist with short-term liquidity requirements”. Debenhams rejected the proposal, which was the third Sports Direct had put to the retailer in recent months. Last December, it revealed it had offered to lend Debenhams £40m, while two weeks ago it advanced a rival restructuring plan that involved lending £150m interest-free and with no security, but only for a year. That offer was conditional on Mike Ashley, Sports Direct’s founder and chief executive, being installed as chief executive of Debenhams for an as-yet undetermined period. Mr Ashley has been a vocal critic of the group’s strategy and management, and on Thursday resubmitted a request for an extraordinary meeting of shareholders to dismiss all the board except finance director Rachel Osborne. He and another shareholder had already voted chairman Ian Cheshire and chief executive Sergio Bucher off the board in January. Debenhams’ warning to shareholders on Friday came in a “consent solicitation notice”, a formal request to holders of its unsecured bonds to vary the terms of the notes so it can put in place up to £200m of secured funding. This would rank above the notes in the event of insolvency. It is also looking for permission to grant collateral to support existing debts. Assent from the bondholders, whose debt is trading at less than half face value, would help clear the way for a restructuring of the company’s balance sheet. This could happen either through a debt-for-equity swap and share issue, which would be heavily dilutive for shareholders, or a “pre-pack” administration in which the company’s lenders would take control of the business and equity investors would be wiped out altogether. In a letter to Debenhams staff, seen by the FT, chief executive Sergio Bucher said that in a pre-pack, “the underlying business would be protected and continue to trade as normal.” But he added that the board was “focused on delivering Plan A, which is to get our financing in, keeping the business on a stable financial footing, and focusing on our plan for the future.” The letter also said that any cash injection could come “as early as next week”.Sports Direct, which owns 29 per cent of Debenhams, said its offer for Magasin du Nord would include an option for Debenhams to buy the unit back at the sale price, and the right to continue to market Magasin to third parties. It also said that if Debenhams considered the price inadequate, it could “provide further details of its valuation”. Debenhams considered selling Magasin last year to raise cash, but in January abandoned the process, saying it had been unable to secure a price that reflected the value of the asset. Magasin trades from seven stores in Denmark and has a more upmarket positioning than the core chain. It had revenues of £210m in the year to September 2018, and analysts had valued it at up to £200m.In a further statement on Friday, Debenhams said Magasin was a key part of the group and a “meaningful contributor” to profits. “As such, Magasin is an important part of any lending proposition and therefore any broader solution that protects value for the group.”“Further, there are obvious concerns with the proposal that Mike Ashley becomes chief executive of Debenhams given that Sports Direct owns our direct competitor House of Fraser,” it added. It also said that guidance to Sports Direct on what it might consider workable solutions “has been repeatedly ignored”.
debsdowner: FT breaking news: Sports Direct lays out plans to acquire Debtenhams if it falls into administration. Https:// Sports Direct has admitted for the first time that it would seek to acquire Debenhams if the department store chain fell into administration, although it still hoped to avoid that outcome. Chris Wootton, who has been lined up to replace Mike Ashley as chief executive of Sports Direct should the founder step aside to run Debenhams, told the Financial Times that while administration was “not the outcome we want”, it was a distinct possibility. Sports Direct is the biggest shareholder in the department store group, with a 29 per cent stake. It has informed Debenhams in writing that it considers itself the most logical and best-placed acquirer if it did enter administration. Debenhams’ management is trying to refinance its borrowings and push ahead with a company voluntary arrangement to close 50-60 stores after a string of profit warnings. However, holders of its £200m unsecured bonds are also thought to be considering a “pre-pack” administration that would hand control to lenders without requiring shareholders’ assent. Sports Direct has already written down £85m of its investment as Debenhams’ share price has plunged. “We’ve put £150m into the equity, now it’s a penny stock,” said Mr Wootton, a former PwC manager who is currently Sports Direct’s deputy chief financial officer. “We’d rather have the share price go back to where it was. It can be pulled back from the brink if immediate action is taken.” Last week, Sports Direct put forward its own refinancing proposal, offering to lend Debenhams £150m interest-free and with no security if the department store chain agreed to appoint Mr Ashley as chief executive. Internally it has termed the plan “Operation Serpico”, after a 1973 New York police movie starring Al Pacino. However, creditors have rejected Sports Direct’s overtures, Mr Wootton acknowledged, adding that the company could “end up in the hands of American hedge funds” who would “strip the bones” after pushing it into administration. Groups advising the creditors have declined to comment on the negotiations. Mr Wootton said that in Mr Ashley’s view, only a small number of Debenhams stores needed to close. He added that Sports Direct would appoint additional non-executive directors to safeguard shareholders’ interests if it succeeded in installing Mr Ashley as chief executive. Sports Direct’s proposal would offer more certainty for suppliers and better security for the company’s defined-benefit pension funds, he claimed. A previous offer to lend Debenhams £40m was rejected last year as not being in the interests of all shareholders. Mr Wootton suggested that if Debenhams accepted Sports Direct’s latest offer of financial assistance, a previous demand to clear out all bar one of the company’s directors could be softened. “It wouldn’t necessarily be Mike’s on and you’re all off.” However, he was unable to give detail about what strategy Mr Ashley would adopt if he ran Debenhams, saying it was “very hard to say what the structure of the business should look like owing to the limited and poor information” that Sports Direct had been provided with. Sports Direct signed a non-disclosure agreement with Debenhams in early February, making it party to inside information and limiting its ability to acquire bonds or more shares. “We were told that we were going to be plan A. It couldn’t be further from the truth.” “We’ve been led down the garden path for weeks,” he said, adding that the company had been left with “no option but to go nuclear.” He repeated previous criticisms of Debenhams’ management, and suggested that more writedowns could follow the £525m of impairments announced at last year’s full-year results. In January, Sports Direct and another shareholder voted Debenhams then-chairman Ian Cheshire and chief executive Sergio Bucher off the board. Sir Ian was replaced in an interim capacity by Terry Duddy, a former Argos chief executive, whom Mr Wootton said was “no better”. In response to Mr Wootton's claims, Debenhams repeated its earlier statement that it was “seeking to execute a much-needed restructuring in the interests of all stakeholders — while its biggest shareholder tries to undermine the process at every turn”. But the loan offer made by Mr Ashley implicitly acknowledges that it is the creditors, rather than the managers of either Sports Direct or Debenhams, who are effectively in charge of the process now. “Our offer is better . . . they’d be very brave to rebuff us,” said Mr Wootton
spob: Https:// Paul Scott - Small cap report - 12 Feb Debenhams (LON:DEB) Share price: 4.25p (up 36% today, at 12:55) No. shares: 1,227.8m Market cap: £52.2m Update on refinancing discussions Key points; Extra £40m facility agreed for 12 months - giving more headroom Quite expensive at LIBOR +5% initially, rising in Q2 - so it's a bridging loan, to keep the company afloat while it tries to find a longer term, comprehensive refinancing solution (possibly a CVA, combined with fresh equity raise?) Waiver & amendment of certain covenants New partnership with Li & Fung, to source better & cheaper product My opinion - I remain of the view that DEB is not viable in its current form. It was wrecked by asset-stripping private equity a few years ago, so they're very much to blame for it being in the current parlous state. To my mind, the only question is whether DEB is able to do an orderly refinancing with a CVA to dump the excessive rent liabilities? There would need to be a debt for equity swap as part of that deal too. My broker tells me that DEB bonds are currently trading at almost a 50% discount to par - an indicator that the equity is probably worthless. Or, whether it falls into administration, and is then picked up via a pre-pack by Mike Ashley (who already has a substantial stake). He wants to slash the rents, as he did with House of Fraser, and then merge the 2 companies. This is a gigantic conflict of interest with other shareholders though. So could be legally tricky. Normally, I would see the shares in DEB as being worthless. However, the interesting element here, is whether Mike Ashley will want to preserve the market value of his existing equity? Or whether he's happy to write it off, pushing the company into administration, then cherry pick the bits he wants and jettisons all the liabilities. On balance, I continue to regard this share are uninvestable. There's a very high risk that the equity might end up wiped out. People need to remember that, once a company is in a distressed debt position, then the equity has little to no value. this is because creditors rank higher up than equity, so can pull the plug if equity holders don't agree to whatever lenders demand. DEB could survive for some more time, because it's still trading at a level where there's no immediate pressing need to shut the company down. When you strip out the depreciation charge, it should still be generating some cash. Mind you, given the run-down state of some of the stores (the ones ear-marked for closure), then I expect LFL sales to be firmly in negative territory this year & in future. Hence the clock is very much ticking. I'd also like to mention 2 very useful reader comments below (thanks for these); Comment no. 15 - "Edward John Canham" points out that today's announcement should have helped reduce bad debt risk for QUIZ (LON:QUIZ) (in which I hold a long position), whose concessions are mainly in DEB stores. I covered this issue in detail, here on 14 Jan 2019 - even doing a store visit as part of my research! Comment no. 16 - "HornBlower" crunched the numbers, and reckons that DEB might have seen a £200m+ cash outflow in recent weeks. Falling Knives As regards catching the falling knife at DEB, I am definitely not tempted - its finances are too precarious, with a high risk of insolvency. In theory, I only try to catch falling knives where a company's balance sheet is bulletproof. Recently I had a very close shave with FlyBe. I (mistakenly as it turns out) thought that its balance sheet was alright, due to the huge value of its owned aircraft more than offsetting its debt. My buying some shares at 12p, and selling them at about 16p, seemed like a good deal, but it turned out to be more luck than judgement. Then the takeover bid came through at just 1p. Scary indeed, hence why I've tightened up my criteria for considering whether or not to catch falling knives.
9stars: News Moody's Changes Debenhams Outlook To Negative Amid Risks For Creditors LONDON (Alliance News) - Moody's Investors Service on Wednesday changed Debenhams PLC's outlook ... Alliance News17 January, 2019 | 6:58AM LONDON (Alliance News) - Moody's Investors Service on Wednesday changed Debenhams PLC's outlook to negative from stable as it believes creditors may incur risks lending to the struggling department store chain. Moody's affirmed Debenhams Caa1 corporate family rating, Caa1-PD probability of default rating and Caa1 rating on the GBP200 million loan notes due 2021. "Today's change in outlook reflects our view that there is a risk that refinancing negotiations may not result in a timely and cost effective solution and thus the process could ultimately culminate in losses for financial creditors," David Beadle, a Moody's vice president and lead analyst for Debenhams, said. "However, notwithstanding this and the company's elevated leverage we continue to view Debenhams liquidity profile as adequate for the time being," he added. Last week, alongside its Christmas trading sale figures, Debenhams said it entered talks with lenders regarding refinancing of GBP320 million loan notes due to mature in 2020. The retailer said "constructive" talks have begun with lenders, and options include bringing new sources of funding. Meanwhile, its sales continued to decline in the 18-week period to January 5, with like-for-like sales down 5.7%. The rating agency on Wednesday added that it believes Debenhams' prospects of "access to fresh capital" to have been hindered by the significant fall its share price, down 89% in the last year. However, Moody's explained that in the event of a successful refinancing the outlook on Debenhams would be upgraded again. By Elena Cherubini
Debenhams share price data is direct from the London Stock Exchange
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