Koovs Share Discussion Threads

[turbocharge] 04/7/2018 14:16

Future Lifestyle Fashions Limited, India's largest integrated branded fashion company, to subscribe for up to 29.9% of Koovs

4 July 2018
Update on Capital Raising

Transformational deal for Koovs

Koovs plc ("Koovs", or the "Company") AIM: KOOV, the leading e-commerce fashion business, is delighted to announce that it has reached a conditional agreement with Future Lifestyle Fashions Limited ("FLFL"), part of Future Group - India's largest retail group, for FLFL to subscribe for up to a 29.9 per cent stake in Koovs.

Future Group is among India's leading consumer goods companies with brands and retail networks in the fashion, food and homeware segments. It owns over 60 brands, operates close to 2,000 retail stores spanning over 22 million square feet and attracts footfalls of over 500 million annually. Future Group also has one of India's most unique digital payment platforms, Future Pay, which has an active user base of over 6.5 million and is growing rapidly. Future Group sells some 30 crores of garments in volume making it one of the top 10 fashion apparel companies in the world.

FLFL owns and markets some 30 fashion brands through exclusive brand outlets, department stores and multi brand outlets, as well as company-operated chains such as Central and Brand Factory. FLFL collectively operates more than 400 stores encompassing over 6 million square feet of retail space and is a unique player in the Indian fashion industry due to its integrated "design to distribution" model and presence across all key segments within the fashion industry. With support from a large retail channel, FLFL also leverages its strong portfolio of own brands that contribute to approximately 40% of total sales, thereby creating a distinctive, integrated fashion play. Led by Lee Cooper, its top six 'power brands' contribute approximately 60% of FLFL's revenue from own brands. FLFL has also successfully invested in fashion brands like BIBA and AND in the past and currently holds investment in other brands like Clarks, Cover Story and Celio.

Lord Alli, Chairman of Koovs, said: "This marks a giant step forward in the Koovs' journey to win the e-fashion market in India. FLFL with its leadership position as an integrated branded fashion player and the Koovs brand and technology platform are an unbeatable combination. This investment will bring enormous benefits to our customers and partners as well as significant value for all shareholders."
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[urigem] 04/7/2018 14:14

Na it won't - 15p book build for their mates, forward finding now resolved might drop to 20p ish but I'm in from 11p

[applegarthlse] 04/7/2018 14:13

Agree 25% to another company and sold cheap for 10p per share lol MUG PUNTERS NEVER LEARN LOL ......Timberrrrrrrrrrrrrrr

[eyeofthetiger] 04/7/2018 14:11

Whether you like the news or not the company has given away 25% for a 10p placing. This has seriously been pumped somewhere but i think you will see this come crashing down today.

[urigem] 04/7/2018 14:10

I personally like the news funded sorted and look what the new partner brings to the Koovs brand.. Win win

[costax1654x] 04/7/2018 14:06

HNR is a small mcap,producer,without debts,with a third party paying for drilling,and 2 wells producing....no dilution,and cash in bank....worth a look!!

[market master] 04/7/2018 14:05

Now funding is sorted the share price will continue to rise. Burn shorters :-)

[applegarthlse] 04/7/2018 14:03

Many mug punters gonna get spiked today lol then locked in when this drops to placing price of 10p........lol UP YOURS

[1bluehorseshoe] 04/7/2018 14:03

Two directors on the board for a 30% stake. They won't be selling

[costax1654x] 04/7/2018 14:02

HNR is a small mcap,producer,without debts,with a third party paying for drilling,and 2 wells producing....no dilution,and cash in bank....worth a look!!

[panic investor] 04/7/2018 14:00

You do realise this price will go down don't you - rocket science and all that 10p

[mister md] 04/7/2018 13:56

10p funding is what everyone expected surely, why would they pay more ?

[eyeofthetiger] 04/7/2018 13:51

Some people are liking the fact they are fully funded. Looks like some huge interest forming here.

[discojames] 04/7/2018 13:47

25%!! Is not 'small'!

[sigora] 04/7/2018 13:43

lord ali putting £1.5 m out of his own pocket says it all

[tidy 2] 04/7/2018 13:42

Placing at 10p. Wtf.

[discojames] 04/7/2018 13:41

Its a tough one to call for me, clearly the market likes it. Its a terrible deal yet its better than no deal at all

[eyeofthetiger] 04/7/2018 13:40

Looks like the full funding outweighs the small placing. I guess this is pretty big news then? share price seems to rocketing?

[eyeofthetiger] 04/7/2018 13:38

Once the traders see the following in the RNS, this is going to crash imo.

Subject to the satisfaction of certain conditions, under existing shareholder authority, Koovs will issue FLFL with 57,876,600 new ordinary shares at a price of 10p per share, representing 24.8 per cent of the enlarged issued share capital (the "Subscription") raising £5,787,660 of cash (the "Subscription Sum").

The Subscription is conditional upon, inter alia, admission of the Subscription Shares to trading on the AIM market of the London Stock Exchange plc ("AIM") becoming effective on or before 8.00 a.m. London time on 19 July 2018 or such later time or date as may be agreed between the Company and FLFL ("Admission"). Application for Admission will be made following receipt of the Subscription Sum. The Company will release a further announcement in due course. The Subscription is not conditional upon completion of the Equity Raise (as defined below).

[onetomany] 04/7/2018 13:38

Wow. Can't wait to add at 15p now we know where it will settle.

[eyeofthetiger] 04/7/2018 13:37

10p placing?

[bob1995] 04/7/2018 13:36

100p on its way. NT to buy

[market master] 04/7/2018 13:36

Great News!

[hjfe] 04/7/2018 13:34

Lord Ali putting in £1.5m of his own money at 15p - that'll do for me as a sign of confidence.

[bob1995] 04/7/2018 13:31

Funding secured 100p Coming. Massive news