Unbound Group – as I previously warned, shareholders were likely fecked; shares now suspended. Game over?

Approaching a year ago I warned on Hotter Shoes brand footwear group Unbound (UBG) noting SHOCKER: desperate equity raise & consensus expectations omit certain costs “such as for the head office”!, and concluding with that, the shares at 12.5p and also “net debt was £9.7 million at 30 June 2022”, Bargepole / Sell. I have subsequently warned a number of times since, most recently towards the end of last month – and today from the group a “Suspension” announcement.

Unbound Group (#UBG) – main operating subsidiary notice to appoint administrators, shares suspended

Unbound Group – formal sale process terminated, notes possible alternative but existing shareholders still likely fecked?

Hotter Shoes brand footwear group Unbound (UBG) has issued an “Update” including that offers within a main operating subsidiary strategic review process continue to be received and reviewed and noting “recent encouraging trading performance” has led to a possible alternative solution. So what of a current more than 18% lower share price response to 2.25p?

Unbound (#UBG) – with no appropriate potential offers terminates formal sale process, “strategic review” continuing

Unbound Group – “Response to Press Speculation”, “stakeholders” again meaning shareholders are fecked?

Hotter Shoes brand footwear group Unbound (UBG) late this morning noted “recent press speculation regarding the possible implementation of a restructuring plan” and stated that it “continues to explore the options available to maximise value for the company's shareholders and the group's other stakeholders. The board will continue to provide further updates as appropriate”. What of a current share price response up to 3p?

Unbound Group – another case of “Strategic Review and Formal Sale Process” being code for ‘we’re fecked’?

Previously writing on Hotter Shoes brand footwear group Unbound (UBG), last week I wrote my prior scepticism vindicated?; after possible offer not proceeding now also funding proposal “withdrawn”! – concluding with the shares slumping to 3.25p, towards a £2 million market cap, hopefully my prior warnings were heeded and still one for the Bargepole. Hopefully that was heeded as today a “Strategic Review and Formal Sale Process”-titled announcement from the group. With the shares currently responding further down to 2.5p, is this announcement indeed code for ‘we’re fecked’ as such announcements often are?

Unbound (#UBG) – notes “cash constraints”, initiates strategic review and formal sale process

Unbound Group – my prior scepticism vindicated?; after possible offer not proceeding now also funding proposal “withdrawn”!

I previously noted scepticism on the outlook for Hotter Shoes brand footwear group Unbound (UBG), but it announced a proposed investment that it considered to be superior to a rival possible offer of 10.5p and 1 contingent value right per share. That was followed by it announcing that the possible offeror does not intend to make an offer and now guess what?...

Unbound (#UBG) – trading conditions worsening and funding proposal withdrawn, working on additional funding/refinancing

Unbound Group – a proposal “superior to the possible offer”? Look out for the prospective LTIP details!

Hotter Shoes brand 55+ demographic footwear group Unbound (UBG) has announced it has “received a proposal from Marwyn Investment Management LLP offering to provide a £10m investment via an equity placing at an issue price of 10.5 pence per Unbound share”. Good news with the prior closing share price 8.5p?

Unbound Group – possible offer, what happened to ‘accelerating growth strategy’?!

Hotter Shoes brand 55+ demographic footwear group Unbound (UBG) has announced that “it is in discussions with WoolOvers Group Limited in relation to a possible cash offer for the entire issued and to be issued share capital of Unbound”. Good news?

Unbound (#UBG) – possible cash offer of 10.5p and 1 “contingent value right” per share, “minded to recommend”

Unbound Group – “Trading Update and Operating Review” reinforces my prior scepticism

Previously writing on currently Hotter Shoes brand 55+ demographic footwear group Unbound (UBG), in August with the shares at 14.75p I noted, following an equity raise it stated would see it “focus on accelerating our growth strategy”, that following the prior misleading market expectations, I remained highly sceptical. Having last closed at 6.75p, today a “Trading Update and Operating Review”.

Unbound Group – fundraising result, it really “pleased to announce”?!

Unbound Group (UBG) states that it “is pleased to announce all resolutions put to shareholders at the General Meeting held earlier today in connection with the fundraising and share capital reorganisation were duly passed” and that it “would like to thank shareholders for their support of the fundraising and take the opportunity to welcome new investors onto the register. Now, with the fundraising approved, we will focus on accelerating our growth strategy in a controlled fashion”. So what’s the detail?

SHOCKER: Unbound Group – desperate equity raise & consensus expectations omit certain costs “such as for the head office”!

‘Hotter Shoes’ brand 55+ demographic footwear group Unbound (UBG) “is pleased to announce that, further to the announcement made on 21 July 2022 regarding the fundraising, an aggregate of 20,783,334 placing shares have been successfully placed by Singer Capital Markets Securities Limited at an issue price of 15 pence per placing share to raise gross proceeds for the company of approximately £3.3 million”. With the shares currently down more than 40% in response, should it be pleased to announce this?!