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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| French Connection Group Plc | FCCN | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 29.55 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 29.55 | 29.55 |
| Top Posts |
|---|
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 05/10/2021 15:48 by smicker 1m shares acquired yesterday by a new investor at 28.6p. Getting interesting |
Posted at 28/7/2021 21:54 by boonkoh Trading volume has fallen off a cliff last few days. Calm before the storm?Big investors made insiders either for a sale or for a fundraising, and can't trade? |
Posted at 10/2/2021 12:18 by matthewbrandon105 Brokers are dropping the price, which in turn, is forcing the individual investors to sell so that they can fill up the large orders for the big dogs |
Posted at 10/2/2021 09:17 by matthewbrandon105 Just sit tight and wait, I don't understand why people are panic selling. There are two companies looking to purchase French Connection and a few private investors buying up thousands of shares. It takes time to mull over offers and bids. Wait! |
Posted at 14/5/2020 10:13 by daagolme2020 This link has the 2020 AGM s being on 20/05/2020hxxps://www.marketsc The French Connection Website still displays the AGM as TBC hxxps://www.frenchco Does anyone know if the date has been confirmed? |
Posted at 16/4/2020 14:32 by davydoo lack of scrutiny on another retailing related investor |
Posted at 27/3/2020 18:02 by davydoo Suspect the share price is going nowhere until they’ve managed to sell their remaining 5%Or at least 2% more to get them off the publicity they may fear as being an investor in another retail business that may fail |
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. |
Posted at 16/5/2018 14:08 by kenmitch Take broker buy/sell or whatever advice with a pinch of salt. They are wrong more often than right. Anyway investors can’t ADD without buying, so it is meaningless. Ditto upgrades from sell to reduce. Paul Scott comment is far more useful than broker advice. |
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