Kcom Share Discussion Threads

[moneyman18] 06/2/2009 14:37

Lead Ballon stuff !! Get those staff sacked and Get that Debt re organised at 1%, then maybe it will break 20p !!

[25cent] 06/2/2009 10:51

Grand old duke of york stuff?

[moneyman18] 05/2/2009 12:10

Rates now set to 1%; that favours people with BIG Debts; Just like people with BIG LOANs;

They will have had MILLIONS knocked off in RE Payments

[peter119] 04/2/2009 15:42

"25c"
whats l2 like please

[peter119] 04/2/2009 13:38

come on back to .16p,hows l2 looking pleas "25c"

[peter119] 04/2/2009 13:37

must have got it wrong,but im sure bauger has a holding,im sure,but eh iv been sure before and still got it wrong,"rct" hows you doing me old mate,sorry yes pace,i was thinking of body shop,mmmmm some thing tells me shes dead,im lossing it these days,iv got an answesr forget every thing iv said,well at least its got the old thread having a good ol chin wag

[25cent] 04/2/2009 13:19

Dont think Buager hold any Kcom Pete.

[peter119] 04/2/2009 13:15

now if my take is correct did bauger hold 10% of kcom,"25c" remember about 18 months ago bauger was ripe for amalgamation with THUS and KCOM,could we see stock getting dumped,or has he already sold

[peter119] 04/2/2009 13:12

Baugur falls into administration
By Lucy Killgren, Maggie Urry and Tom Braithwaite

Published: February 4 2009 10:10 | Last updated: February 4 2009 12:57

Landsbanki, the Icelandic bank, on Wednesday filed to put the UK business of Baugur, the investment group that owns some of the most popular retail brands on the British high street, into administration.

PwC has been appointed as administrator after debt restructuring talks between Landsbanki and Baugur collapsed on Tuesday without agreement.


Baugur has bought a large number of UK retail groups in recent years, including Hamleys, Iceland, the frozen food store and Whistles, the women's wear outlet, in deals that were financed by debt issued by Iceland's now-nationalised banks.

Landsbanki said its "discussions with the Baugur Group did not produce any acceptable proposals, so we have taken steps to protect these valuable assets."

EDITOR'S CHOICE
Video: What is the future for Baugur's UK retail assets? - Feb-04In depth: Icelandic economy - Nov-20Whistles secures new financing - Feb-03Baugur to cut jobs and close office - Jan-30The collapse of the talks prompted Baugur on Tuesday night to apply to the District Court in Reykjavik to enter into the moratorium process, the Icelandic equivalent of Chapter 11 in the US or administration in the UK.

Industry experts said the most likely outcome of Baugur's demise was that the operation of its stores would continue as normal, but the shareholdings in them held by Baugur would pass to the banks from which the group had borrowed to finance its investments.

Baugur's biggest operating companies scrambled to distance themselves from their lead shareholder on Wednesday, insisting that the holding company's troubles did not weigh on the stores.

"This is sad news," said Don McCarthy, chairman of House of Fraser and a Baugur director. 2However we can only continue to emphasise that the difficulties that Baugur faces do not affect House of Fraser's trading or banking position. It is business as usual."

Mosaic Fashion, whose stable of brands includes Karen Millen, Principles, Oasis, Warehouse, Coast and the Shoe Studio, said it too was unaffected by the decision of Landsbanki to pull support for Baugur, which owns 49 per cent of the company.

Mosaic said discussions about its long-term funding were ongoing with Kaupthing Bank, the nationalised Icelandic bank.

Analysts speculated that Baugur's administrator could try to sell the stake to another investor, or that Landsbanki could take the shareholding into its own hands.

Nick Bubb, analyst with Pali International, said: "It's likely that Mosaic, which is regarded as the problem child, will be broken up. Iceland [the frozen food chain], which is the jewel in the crown, and House Of Fraser will probably be OK. It may be that on the back of the recent mini-revival in the UK high street, there may be appetite among individual buyers or private equity for these brands."

Baugur also owns nearly 18 per cent of French Connection through Unity Investments, an investment group. Shares in French Connection, which was founded by chairman and chief executive Stephen Marks who remains its leading shareholder, were 2¾p or 6.4 per cent lower at 40p.

Shares in Debenhams, the department store group which is 7 per cent owned by Unity Investments, were ¾p or 2.3 per cent lower at 32¼p.

The moratorium process in Iceland is similar to Chapter 11 in the US, providing a breathing space for companies struggling with their debt. Once a company successfully applies to the court for protection a moratorium assistant or administrator is appointed.

The company is then immune from legal proceedings from creditors, preventing them from seizing assets. The company can suspend payments to its creditors. The duration of the moratorium can be extended by the court.

Although Iceland is not a member of the European Union, a court moratorium is recognised by EU courts.

Once a symbol of Icelandic strength on the UK high street, Baugur last week announced plans to shut its Reykjavik office and shed staff in London.


Copyright The Financial Times Limited 2009

Print articleEmail articleOrder reprints

[25cent] 04/2/2009 13:09

Well Pete to be honest i really don't know.
Its like i said a few weeks ago, it could double or half and it doubled and did not half.
Its just that its not worth 20p,(100 MILLION) its worth 50p (250 MILLION) plus or nothing,
Its either a viable business or its bust, take your pick, but its not 20p.

Shareprice wise, At the mo 20p is very important and is the key to nay further gains, but the trend is now in the bull camp for the first time in almost 16 months.

[25cent] 04/2/2009 12:56

Well Pete to be honest mate you me and realcool trader were the only ones anyway, all the other names were one person and he;s got so depressed with kcom he only shows up everynow and then.
lol

[peter119] 04/2/2009 12:53

"25C"thanks me ol mate,just clicked on it,hows it going,seems you and i the only ones left from 2 years ago

[25cent] 04/2/2009 12:52

LOL pete youve got to click on it too make it large, no worry i have just made it bigger ;-)
Meeting selling presuure at the all important 20p breakout line, hopefully it can get through this into the clear blue sky.

[peter119] 04/2/2009 12:48

"25" lol,I CANT READ IT

[peter119] 04/2/2009 12:33

anyone got l2 please

[moneyman18] 04/2/2009 11:29

80p on the way :0)

[jess1] 04/2/2009 11:28

50p on its way

[realcooltrader] 04/2/2009 11:27

Blimey, don't often see KCOM in Auction.

[peter119] 03/2/2009 09:57

good morning all