First Seagull

Activist Value Fund

[First Seagull @FirstSeagull]

Share

https://t.co/ku0ofuMjeH

[First Seagull @FirstSeagull]

We found only two UK Chairs that stayed on after receiving less than 60% support...

Stephen Bird and James Murdoch
#Headlam #Flooring #UK

[First Seagull @FirstSeagull]

The Board's pushback on First Seagull is that we lack flooring experience. We agree, and unlike the Board, we are under no illusion about our limitations despite having had insightful discussions with more than 100 flooring professionals in the past year.

Read our full call for shareholders to vote at the EGM, together with details on how we will create value for all stakeholders at Headlam:

https://t.co/TbD4BFrriU

[First Seagull @FirstSeagull]

#Headlam Chair got only 56% support at the AGM, and these were votes submitted before another profit warning! Trading down 21%, with French business in receivership and Tapi ending relationship in April, true decline likely above 30%!

EGM on the 2nd of June to replace Board

[First Seagull @FirstSeagull]

#Headlam upcoming AGM and EGM votes, these are shareholders’ chance to demand change.

Full requisition and explanatory statement available here:
https://t.co/W7Wp6eX1Kq

[Dismissed & Asset-Backed @DismAssetBkd]

In case anyone missed it, @FirstSeagull is pushing for a board reset at Headlam $HEAD.L. $HEAD Read their open letter here: https://t.co/y50ANP791r

[First Seagull @FirstSeagull]

First Seagull's reply to #Headlam's Open Letter.

Full version: https://t.co/dUYZpchg6l

[Share Prophets @ShareProphets]

Headlam – argues “time needed to deliver positive results”. Er, how long have certain board members already had?… https://t.co/xMvbfPUPHm

[First Seagull @FirstSeagull]

A core responsibility of a Board is to recruit and retain a top-performing Executive Team... #Headlam👏

[First Seagull @FirstSeagull]

Shots fired, I guess 👀

#Headlam taking responsibility: "End‑market conditions have been challenging and mistakes have been made."

That's one way to describe a £400m fuck up 🤌

https://t.co/2Fd7ofGare

[First Seagull @FirstSeagull]

On Friday we requisitioned Headlam Group plc to secure a full reset of the Board.

This Board has presided over ~£400m or 95% in value destruction, while collecting £1.4m in compensation and owning practically no shares. The pain has fallen, and continues to fall, squarely on customers, suppliers, employees and shareholders.

The requisition:
https://t.co/eWdal45MdI

[#LSE #TR1 #RNS @tr1rns]

Headlam Group (#HEAD) 📈 42p
First Seagull #TR1 7.69% (🔼 2.48%) ~=2.0m #acquired
02/03 16:11 #RNS TR-1: Notification of Major Holdings
https://t.co/OB5yfJouYF

[First Seagull @FirstSeagull]

3 well-informed bidders willing to pay 83–86p for #Inspecs reflect significant upside.

As a leading premium eyewear operator, Safilo's presence shouldn't be underappreciated.

Having just completed its own impressive turnaround, Safilo did not invest £22m out of impulse. It has clear avenues to capture value: 1) demanding a higher takeover price, 2) instigating a break-up, or 3) supporting an operational turnaround.

We believe 1) and 2) are more likely, but all 3 offer more upside than 85p, which is why #FirstSeagull bought a 1.1% stake.

[#LSE #TR1 #RNS @tr1rns]

Headlam Group (#HEAD) 49p
First Seagull #TR1 5.21% (🔼 0.98%) ~=0.8m #acquired
22/12 11:36 #RNS Holding(s) in Company
https://t.co/cb2LbUq9Rm

[First Seagull @FirstSeagull]

Safilo securing above 20% of Inspecs’ shares 😂 this showdown gets better by the day!

https://t.co/QyeLrUvUIQ

[First Seagull @FirstSeagull]

We sold entire 2.5% stake at 85p in #INSPECS today, just before #Safilo disclosed 1.7% stake from yesterday!! Likely now 4.2% as Shore Cap brokered our block sale! We're completely out with a nice 73% gain over 18 months, but getting out the popcorn for this showdown!🍿👏

[First Seagull @FirstSeagull]

Consortium opens bidding with 84p Board Recommended offer #INSPECS matching H2’s 84p indicative bid, with Safilo still in the mix

[AIM Alerts! @aimrns]

#RNS (#AIM: #SPEC) Inspects Group: Recommended Acquisition of Inspecs Group Plc [https://t.co/PbAK5M753t]

[The Furnishing Report @TheFurnReport]

Headlam shares hit two-month high as investment fund builds stake
https://t.co/QcNB6QkHf6

[First Seagull @FirstSeagull]

Shareholder activism is seriously lagging in Europe, similar to growth, innovation and deregulation. It’s quelling competitiveness. We need more.