Koovs Share Discussion Threads

[jamesto2] 21/6/2018 03:53

Koovs seeking permission to issue up to £18.9m in convertible loan notes

Wed, 15th Nov 2017 15:47

(ShareCast News) - India-focussed fashion
e-commerce business Koovs issued a short update to the market on Wednesday morning, announcing today that it will be seeking a renewal of permission for the issue of up to £18.9m of convertible loan notes.

The AIM-traded firm said that, in addition to the £8.9m which was previously received, it remained in "advanced negotiations" to secure a term sheet from an investor committing to invest via the issue of convertible loan notes.

"The company remains confident of delivering this further tranche of convertible loan notes and expects to announce the successful conclusion of this additional funding in due course," the board said in its brief statement.

[jamesto2] 21/6/2018 03:31

REMEMBER THE GUY WHO SOLD OUT AT 4p and at 4.10p .. MILLIONS OF SHARES SOLD ON 1st MARCH 2018.

[jamesto2] 21/6/2018 03:25

............ 🍻🍷 ...........HAREBRIDGE HAD THE LAST LAUGH AT ME..

[jamesto2] 21/6/2018 03:12

10p at best lol..

jamesto2 - 21 Jun 2018 - 02:47:49 - 2871 of 2880
The conversion price for the first £4.2m tranche of new shares to be issued to HT Media is to be 10 pence per Koovs share. Thereafter each tranche will be priced at the lower of Koovs' then 3-month average closing share price or the price of the most recent round of equity fundraising by the Company.

[jamesto2] 21/6/2018 03:09

Not exactly the 50m at 25p as the HARDMAN&CO sales team promise & Koovs company talked up is it !!!! LoL ... So in a nutshell we wait another 2/3 years to see how much of the cherry is left .. boom or bust will be down to new management.As share holders we will be diluted into oblivion soon&the company sold for peanuts.Dilution.

[jamesto2] 21/6/2018 02:52

Trading update

H1 gross sales, as previously announced, were flat at £7.9m, and the Company now expects H2 gross sales to be down due to the cash conservation plan highlighted above. Accordingly, FY18 sales are expected to be £14.5m (FY17: £18.6m). EBITDA is expected to improve to a loss of £14.4m (FY17: £19.6m), whilst the Company's trading margin has continued to increase to 11% (FY17: +4%).





Mary Turner, Chief Executive of Koovs, added:

"We are extremely excited about the opportunity which lies ahead of us. Growth is already returning to India's ecommerce market following the introduction of demonetisation and the Goods and Services Tax, and we believe that the strong fundamentals underpinning the market's long-term growth remain undeniable.

[jamesto2] 21/6/2018 02:47

The conversion price for the first £4.2m tranche of new shares to be issued to HT Media is to be 10 pence per Koovs share. Thereafter each tranche will be priced at the lower of Koovs' then 3-month average closing share price or the price of the most recent round of equity fundraising by the Company.