The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
2phevs
You know i think Kelso’s note was poor and they haven't got the resources to do a decent job, but even I don't think that they have got their Nav wrong by a factor of circa 30%..
That would be incompetence beyond belief.
GL- BTW it is of no account whether i sold or not..
Very Conservative results rns I think we can all agree (Canary has completely sold out of Kelso last week btw)
8 mill THG shares@97.72 = 7,817,600 + 3,100,000 cash = NAV before tax and bonus (not yet due and may not be depending on past losses and future tax planning) = 10,917,600 ÷ 317,500,000 shares = 3.44p per share
Nav when the SP was 93.9 = 2.6p
On 30 June 2023, THG's share price closed at 81.5p, generating an unrealised gross gain of £1.7 million pre-tax and pre-performance fee. This represents approximately 35% increase to our overall cost price, and a return on cash investment of c.58% pre-tax and pre-performance fee return. As at 30 June, the estimated NAV (after accrued corporation tax and performance fee) was £7.2 million, including £3.1 million of cash, equating to 2.3p per share. The closing price of THG as at 11 July 2023 was 93.9p, equating to a Kelso NAV of c.2.6p.
Sorry- I didn’t mean that it hadn’t factored in tax or costs… I meant that it hasn’t factored in the fact that its substantial holding in THG is now worth considerably more than it cost … yet the share price hasn’t (yet) gone up much… but it will
That paper profit doesn't attract any Corp tax until they sell them CeriNedd their latest results the other day includes tax provisions for the current profit and bonus projection it's plonked in the results in brackets
Plant health Care plc
Just completed final placing before profitable next year great growth prospects
Could spin off Harpin AB for Europe to focus on fruit golf courses hotel gardens etc..
Kelso has made a significant paper profit already on the THG shares it has bought. That hasn’t yet been factored into the Kelso share price which remains static. Watch this space.
Brewman91 you would make a lot of money as a reverse takeover would in my opinion be accompanied by a relisting on another Index for full value. Presently you get Myprotein for near free. Same with THG Beauty. THG Nutrition / Myprotein most likely again imo.
Molecular Energies PLC
Great assets to liabilities and same cash as mcap
Recently spun out green hydrogen company
Right now has a division ready to ipo
Brave Bison
Great results recently
Could spin off social media/influencer division into Kelso
I've seen multi multi bag ones happen before mcap goes from 5 mill to 200 mill without much dilution
What happens to our shares if there was a reverse take over here?
Wood group
Great increase in revenue yesterday
Apollo recently bid nearly double share price
Could spin off turbine division
Perhaps we could start a suggestion debate here about Kelso's next investment target
It's got to be UK Listed undervalued and have at least 2 divisions so one can be spun off as a reverse takeover of Kelso. That's roughly what Kelso's mission statement is
Mike Ashley has piled in not to long ago and their mobile phone arm is always the best deal on uswitch this could possibly be used to reverse takeover of Kelso and list the mobile phone division
Hope JG reads this board or should I post this on the THG lse board
Cheers for these reminders OSG
Check out global e also on nasdaq vs ingenuity potential
Ludicrous
Part 11 - and also
*Recently launched Myprotein onto the Vitamin Shoppe in the US (Last annual report)
https://www.vitaminshoppe.com/search?search=myprotein
*Into Boots stores with Clear Whey Protein drinks
Https://www.linkedin.com/posts/rachel-mulhearn-87023393_boots-thg-myprotein-activity-7065307063106576384-G_Ei?trk=public_profile_like_view
*Pop Rolls into Asda
https://www.linkedin.com/posts/ryan-hinchliffe-739b4b59_well-look-whats-landed-our-three-yes-activity-7077287428469714944-lT-_?trk=public_profile_share_view
*MyProtein ice-cream tubs into Iceland stores, yesterday
https://www.foodbev.com/news/myprotein-to-launch-new-range-of-high-protein-ice-cream/
*Further expansion coming.Including.
Ice cream bars – September
Branded Cereals
Yoghurts
Cheese
Further Uk Grocers and International expansion later this year
“We launch in Iceland today, before expanding to other major U.K. grocers and internationally later this year. In September, we are also launching a range of protein rich ice cream bars as healthier alternatives to the Mars-style products.
10 years ago, people thought protein products were just for serious bodybuilders. Today, there’s rapidly growing awareness of the importance of daily protein levels. More and more research proves the critical role of protein consumption in anti-aging and longevity.
This uniquely places Myprotein as the authority in the space, however we define it 💪 We are seriously focused on moving into other categories, working in partnership with other major global brands. Keep an eye out for Myprotein branded cereals, yogurts, cheese appearing appear on grocery shelves sometime soon 😉”
https://www.linkedin.com/posts/myprotein_lets-say-that-again-compared-to-the-activity-7079360414790119425-kzHH
https://www.linkedin.com/posts/shane-smith-25381715b_myprotein-reveals-its-delicious-protein-ice-activity-7079544750982262785-Y8p7?trk=public_profile_like_view
Lots of good stuff in this mornings RNS that invites further delving, in particular the highlighting of the values of the Sum of Parts and within that the value of THG Nutrition and the comparative with the price paid just last week by Mars for Kevins Natural Health Foods. That deal was completed on effectively a 5.5 X Revenue model and Mars paying $800Million for a business that generated roughly $140M per year in the preceding year.
https://www.msn.com/en-us/money/companies/m-ms-maker-mars-looks-to-diversify-announces-acquisition-of-healthy-food-maker-kevins-natural-foods/ar-AA1dyrrO
THG Nutrition in 2022 generated Revenue of £675Million. Work out the comparative value of THG Nutrition.
But since the beginning of 2023 there has been a lot of expansion going on with THG Nutrition and in particular MyProtein. Here in the remainder of this and the next post is a resume of expansion that is known.
*Myprotein Frozen Ready meals into Iceland 3/1/23
https://www.express.co.uk/life-style/food/1716888/Iceland-MyProtein-low-calorie-takeaway-meals-McDonalds-Nandos
*Myprotein Pizzas into Iceland
https://www.stack3d.com/2023/03/myprotein-and-icelands-protein-pizza.html
*MyProtein into Airports (and selling well)
https://www.linkedin.com/feed/update/urn:li:activity:7056521747822436352/?updateEntityUrn=urn%3Ali%3Afs_feedUpdate%3A%28V2%2Curn%3Ali%3Aactivity%3A7056521747822436352%29
*MyProtein “Fuel” into PureGym premises. UK and Middle East. Key objective this year - expand into further gym groups.
https://www.linkedin.com/posts/myprotein_puregym-myprotein-workoutsnacks-activity-7027187728123326464-HVJN
https://www.linkedin.com/posts/mark-lees-a0498218_very-proud-moment-following-our-uk-pure-activity-7024089279735721984-a4Zw
*First MyProtein frozen meal vending machine in a Fitness First Gym in Wigan (trial)
https://www.londonworld.com/read-this/iceland-and-myprotein-launch-protein-ready-meal-vending-machine-at-fitness-first-gyms-4157386
*Into 2 large German Supermarket chains (each equivalent size to Tesco’s)
https://www.linkedin.com/posts/mark-lees-a0498218_our-first-major-retailer-listings-in-europe-activity-7034152235286548480-c9GT
*Valli Forecourts – Service Stations in Leeds and the surrounding area.
https://www.linkedin.com/posts/mark-lees-a0498218_healthysnacking-impulse-activity-7038861717665144835-vQkp?trk=public_profile_like_view
*Tie-up with Nutribullet in Italy
https://www.linkedin.com/posts/gian-rabellotti-568a29103_myprotein-nutribullet-activity-7044699407916625920-fA8A/?utm_source=share&utm_medium=member_desktop
*Expansion into retail in Spain, Portugal and Denmark (Phil Ainscow THG – linkedin)
“"Some more exciting news as we exit Q1, a number of launches into retail across Portugal and Spain, and live in Denmark next week. A wide range of products, from Bars, Drinks and Clear Whey in over 220 stores. You can now find Myprotein in: : El Corte Ingles, Continente, Costco Sp
There a lot of factual content in there, which is bang on the money, specifically with th recent sale of Kevins Natural Food to Mars etc ...
https://www.lse.co.uk/rns/KLSO/investment-in-thg-plc-update-bk29gfqp1azz3on.html
Indeed, still holding all their @THG stock, so including the 3 Million leveraged CFD interests and all at an average share price of 61p. Still got the £3Million placing monies cash to spend also.
Its when these start to win and compound that the share price multiplies.
Not a bit of premium in their either for their ability to pick winners and actively add value to the share price through Activism. Glad I've been systematically topping up over the last month.
I wonder if REVB might be a next spend, although there are so many others.
Last 10 minutes yesterday it was Negotiated Trade all the way down to 25,000 shares.
Nice little reminder of the value ye here
Thanks for correcting
What may help the KLSO share price is the announcement of an additional tranche of THG, no matter how big or small and then to accompany it with what their present shareholding is and also what beneficial interest they may be having in CFD's @THG. Then people can put their own 2 and 2 together.
Goold being on the Board @BOO and their crossfire with REVB (which his thoughts might well be behind) may an untimely distraction he might wish to correct. Been a bit quiet on this one of late for the incentivisation that was given. Looks like the RevB / BOO fisticuffs might though be ending in a compromise soon.
So MCap is just shy of £8Million at say 2.5p. which about covers the share holding in THG + the £3Mill os so placing monies (minus expenses) Any further asset value presently it is all down to how you interpret the CFD's. I thought they closed up during the first knock to the price during the Apollo bid. Others thought they still hold.
They could alternatively be sat on more THG shares or further opened CFD's but might not necessarily have publicly declared them. Wouldn't need to unless they hit 3%.