Mikhailichenko Posted April 26, 2011 Share Posted April 26, 2011 http://www.londonstockexchange.com/exchange/prices-and-markets/stocks/new-and-recent-issues/new-recent-issue-details-description.html?issueId=8642JJB Sports plc ("JJB" or the "Company") is a UK sports retailer headquartered in Wigan. JJB's product offering includes sports clothing and footwear supplied by leading brands such as Nike and adidas as well as replica shirts, fitness equipment, accessories, cycling and golfing products. JJB's product offering is supplemented by its own label brands, including Champion, Patrick and Olympus. The Company and its subsidiary undertakings (the "Group") currently trade from 244 JJB branded retail stores in the UK and Ireland and employs over 6,000 people. The majority of the Group's stores are based on the superstore concept, with an average of approximately 11,000 square feet of selling space and are generally out of town or larger high street stores. The board of directors of the Company (the "Board") has recently finalised its revised business plan which aims to restore the viability of the Group's business model and return the business to profitability in the longer term. As part of this revised business plan, the Company announced on 6 April 2011 a firm placing and placing and open offer to raise gross proceeds of £65 million (the "Capital Raising"). In connection with the Capital Raising, the Company published a document which comprises a prospectus for the purposes of the Prospectus Rules, a circular for the purposes of the Listing Rules and an admission document for the purposes of the AIM Rules for Companies. The Capital Raising is subject to shareholder approval at a general meeting to be held on 26 April 2011 and, if approved by shareholders, is scheduled to complete on 27 April 2011. No idea if this will have any implications for us. I stumbled across this by accident on the LSE site. Link to comment Share on other sites More sharing options...
Getstiffed Posted April 26, 2011 Share Posted April 26, 2011 I hear David Murray's not short of a few bob..... Link to comment Share on other sites More sharing options...
boss Posted April 26, 2011 Share Posted April 26, 2011 This is news from some weeks ago. It's all but a foregone conclusion that this will be approved - the existing institutional shareholders have already pumped millions in, and are about to do so again. This will keep JJB afloat for a number of months. They are certainly not safe and may still go down the tubes, but not this week. Link to comment Share on other sites More sharing options...
Mikhailichenko Posted April 26, 2011 Author Share Posted April 26, 2011 This is news from some weeks ago. It's all but a foregone conclusion that this will be approved - the existing institutional shareholders have already pumped millions in, and are about to do so again. This will keep JJB afloat for a number of months. They are certainly not safe and may still go down the tubes, but not this week.Not worth a punt a then, Boss? Link to comment Share on other sites More sharing options...
boss Posted April 26, 2011 Share Posted April 26, 2011 Not worth a punt a then, Boss? I'm not brave enough for this one. At current prices (26p), if JJB can be turned round then you could make 10+ times your money, but it will take a few years or more. And it may also go bust and you lose all your money.It's just been announced, as expected, that the Resolutions put to an EGM today were all passed by >99% of the vote.So JJB survive for a few more months. This may be the start of a long road to recovery, or it may be a false dawn. Link to comment Share on other sites More sharing options...
JM1872 Posted April 26, 2011 Share Posted April 26, 2011 JJB are truly in the shits. Link to comment Share on other sites More sharing options...
FGAU72 Posted April 26, 2011 Share Posted April 26, 2011 Would this not be a good thing for us ?. I feel we are restricted by not having our own shops and unable to sell the brand. Surely we need to have shops on every high street saying Rangers FC Link to comment Share on other sites More sharing options...
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