JJB Sports Share Discussion Threads

[baxtea1] 24/9/2012 06:52

"Seems they did"

Urr no, clever clogs. We all knew it was eventually going to admin. the more astute amongst us knew there was time to make money during the death throes though.

Like i said before. If you posted everyday for a few weeks it was going into admin then one day you'd be right.

Sorry for those who have been caught out. Atb

[chinese investor] 24/9/2012 06:52

Nice post granitetim !

[scientologyweirdo] 24/9/2012 06:51

That's very big of you GT to let bygones be bygones. If only more were like you and took the emotion out of trading, these boards would be much better forums for discussion.

[granitetim] 24/9/2012 06:48

Just a little worried how The Shadow and Bing0wing will fill their days now.
Dust yourselves down,it's only money and get onto your next dead duck!
IG account is ready to follow ;)
Seriously though Bad luck!

[tam oshanter] 24/9/2012 06:40

should have been done weeks ago to protect people from themselves

[scientologyweirdo] 24/9/2012 06:39

Employees may do ok if the Company is simply pre-packed off to a bidder.

Shareholders who were told there was no value should get wiped out.

[sir rational] 24/9/2012 06:37

I feel sorry for the employees who will lose their jobs.

But holders here knew what they were doing so this will hardly be a shock.

[miti 1000] 24/9/2012 06:37

Mr. Chan and Mr. Mohammed Ali have been buying notifible stakes in JJB in past few weeks...beggars belief....more money than sense clearly.What planet....

[showmethemoneyhoney] 24/9/2012 06:36

Can't believe that people still held this after the VAT investigation RNS. Greed can be blind

[sir rational] 24/9/2012 06:36

24 September 2012

JJB Sports plc

("JJB" or the "Company" or, together with its subsidiaries, the "Group")

Suspension of trading in the ordinary shares and proposed appointment of administrators

On 30 August 2012, JJB announced a formal sale process and that it wished to invite offers to support further investment in the Company.

Since that date, JJB and its advisers have held discussions with a number of selected parties who have now submitted their final offers. Based on the final offers received and as previously foreshadowed in the announcements on 30 August 2012 and 13 September 2012, no value will be attributable to the Company's ordinary shares.

The offers received include offers to acquire certain of or substantially all of the trade, assets and brands of the Group. However, the Board notes that it does not have and does not now expect to receive an offer for the shares of JJB. Accordingly, the Takeover Panel has confirmed that the Company is now out of an offer period.

The Board has determined that any sale of the trade, assets and brands will be effected through an administration process. Therefore it is expected that the process to commence the appointment of administrators of the Company and certain of its subsidiaries will begin today although the actual appointments are only likely to take effect just before the completion of any such sale. The Group will therefore continue to trade through all retail outlets outside of an administration pending completion of a sale process. It is proposed that Brian Green, David Costley-Wood and Richard Fleming, partners of KPMG LLP, will be appointed as the administrators of the Company and certain of its subsidiaries.

The Company's ordinary shares have been suspended from trading on the London Stock Exchange's AIM market with immediate effect.

The Company currently hopes to be in a position to announce a sale of the trade, assets and brands of the Group within the next few days.

[edward3] 24/9/2012 06:35

Sorry guys :-( ......

[chinese investor] 24/9/2012 06:32

Burn your Share Certificates and keep warm.

[boonboon] 24/9/2012 06:32

it's quiet this morning

[jimrclark] 23/9/2012 21:02

Sounds like a pre-pack is not the only option on the table -

"The various bidders for JJB have been examining different structures through which they could take control of the company."

[sapper2476] 23/9/2012 20:40

lol... talks in the first person but does not put name to it... odd...

[sapper2476] 23/9/2012 17:17

Bingo... you crack me up....

[bingowing] 23/9/2012 16:56

Tim,

Thanks for the upto date rehashed news compiled from the last 3 years.

You really are a prize tit.


Oh, and tomorrow will be a big blue day IMO.

So there.

[granitetim] 23/9/2012 09:05

JJB has already warned shareholders, including the Bill and Melinda Gates Foundation, that they are likely to see their holdings rendered worthless under any rescue deal. Despite this, two big shareholders – Harris Associates and Invesco – managed to sell their entire holdings, representing 68 per cent of the company, shortly after the warning. It is thought day traders may have bought the shares, worth a total of around £1 million, in the hope of making a small profit.