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Dan Wright the executive Chairman bought 1,000,000 shares yesterday and Stephen Moon sold 3.5% of his holding. 6,017,861 shares and this can be seen in the trade yesterday reported at about 4.00pm. Its a damn shame he had to sell such a sake on the low. Probably desperate to have cash as he has no wages and is in retirement. Good he is gone. Shares should go higher now.
It is also good to see that the old Boss Stephen Moon has sold 2% or therefor abouts of his holding and the share-price held up. Its good that man is gone and he is being forced to sell his shares on the present low price. The man did not do well. He is not being rewarded.
Dan Wright, Executive Chairman, purchased a total of 1,000,000 ordinary shares in the Company on 2 January.
A good sign that things are looking up. Follow the money guys follow the money. Up to day
Good post. I think the skimmer CEO is removed and they will turn on the profitability mode and a good sale price. That will recover the SP to its previous level.
They were effectively up for sale during the strategic review, in the last 12 months! Profitability has been just on the horizon for years but never quite get there before more dilution.
When the offer comes it would be sold, they need the THG scale.
The investors wont rush to put this business up for sale. They could be sitting on a very valuable asset here. As this business is closing in on £100M a year revenue, which the now former CEO said could deliver 10-12% EBITDA they will be assessing whether the profitability switch can be flicked to the "on" position over a 2-3 year period and whether that statement from the former CEO is true. They have begun trimming the fat by removing a CEO who never delivered on that promise and took a big salary for himself while hanging the backers out to dry. If the people in charge now believe that profitability can be allowed to flow through then this business is worth well in excess of its current share price. If they don't think they can turn on the profit stream then a sale will follow. My view is that with the right leadership and a balanced approach that doesn't just pursue revenue growth we could have a tranformational approach.
I see Thg are spoiling themselves with Christmas acquisitions in the Beauty space.
Would SiS make a nice stocking-filler for MyProtein?
For my take, locality (50mins up the road), current pricing and synergies all stack up nicely, but then I thought that this was prime for take over pre PhD.
Mr Moon has run 2 businesses over nearly 20 years and delivered not one profitable year in all that time. SiS was floated with a share price of 56p a decade ago and today it sits at 12p. Many institutional investors have seen their investments lost because of an obsession with growth of revenue (and a generous salary to the CEO). Yet they did nothing until now.
How they sat by for so long is a mystery. He is deluded enough to think he was successful in running these two businesses too, thinking he is an entrepreneur and not a simply a one trick growth pony. Maybe now the investors can achieve some balance going forwards and start to show profitability because this business has great potential in the next 2-3 years under the right leadership
It took them long enough
Yes, we remember him at Provexis as well and look where that is now!
Definitely forced out. At last a chairman with some interest in shareholder value and an ability to see Moon for what he was. To all those he’s abused over the years a moment of quiet triumph, to all those who’ve sat back and fed their self-preservation (current CMO/CIO and CCO - neither of whom have a clue about brand or commercial) a moment of rightful anguish. Let’s just hope Dan Wright can get some of the talent that left to reconsider quickly because he will need them.
Probably Moony is forced to leave as the SP crushed this level and no sign of recovery.
Very low key RNS - just worded board change.
https://www.londonstockexchange.com/news-article/SIS/directorate-change/16173153
He is indeed, a persistent misfit perhaps looking at the reviews about his approach.
From an event last week, it sounds like lots going on down there. Key members of the leadership are either walking or being let go due to cash flow issues. Brand guy walked. Retail, Amazon and Culture guys let go. Any thoughts would be helpful as I'm having a hard time trying to figure out this business, just seems to be going backwards when others are moving forwards
Moony still there kicking around!!!
Stephen Moon, CEO
Thanks. Keep the update here
I see Mr Moon is back behind the keyboard at SiS ;) Not sure is all rosey as I'm hearing of a number of exits and senior redundancies over the past few weeks to save costs as cash flow is a big problem. All hearsay at this point, have asked for more details.
Lots of big trade is going through today. However no movement of SP. Very interesting!!
Looking much healthier. And with new non executive chairman. Big upside.
I fear there is just too much going on with THG ATM. Too many moving parts. SiS need to show some decent growth numbers not the measly 2% that they reported from Q1. It's there for the taking if they can sort their business out and execute their international expansion. THQ buy out would be a get out jail free card IMHO
Surely they could take us out? This part of THG is going hot guns and their Profits are up nicely on lower prices. Damn. offer me 25 pence and you can have my shares. Got to be 100% upside here.
Any update on this from your contacts inside the business?
Let's hope this is the case. Surely an expression of interest will come out of what has been the muddy waters of late. Still crazy cheap and having been in and out on this is that I'm waiting in the wings ready to jump back in. The narcissistic Moon who was clearly lost in yesterday's echoes of what the brand was were the only one holding this one back in IMHO.
I’m afraid I can’t answer that as I’m neither a current or ex SiS employee. I do, however, know people who are ex employees and follow open sources such as Glassdoor, LinkedIn and the commercials closely. I am surmising from all of this but from a position of a reasonable background as a Main Board member elsewhere who understands how much of this works. Overall I see a situation where corporate governance has not operated sufficiently in shareholder interest and that major shareholders are now becoming activist investors. That, in my experience, never sits well for current management teams. Add in that 2 of the 3 longer term directors who have a concurrent 10 years at SiS and a lifetime together at GSK have gone and it’s hard to see any other outcome for the CEO - it’s not that he’s sat on Stella results or has an organisation that reveres him.
Looks like he has gone from SIS. Do you see him in the office?