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I thought Wellington was a US company. Not like US shorters can't do it here already and don't already specifically target anything not american
Good points Monty, it's got a bit absurd how the USA has almost become a magic elixir potion on these boards, even for companies with very little presence in the country. Practically speaking, last year US only accounted for 18.5% of THG sales - and that was down from 19.9% the year before. If it's already a small proportion of sales and losing market share in the country, forget it.
That's before we get on to how US shorters and analysts far more aggressive than UK ones, they could rip the likes of Moulding a new one. To be brutally honest it's not likely they'd even care enough though, he'd just be a small fish in a very big pond.
Crafty you are right..the LSE is in complete meltdown, companies are abandoning London either going private or taken over etc because the FCA and LSE have lost control, the shorts are fully in control of London markets. No IPO worth mentioning for over 3 years, £trillions have left from Pension funds who have switched to USA and other international exchanges...another disaster overseen by the Tories who used to be on the side of investors and entrepreneurs. Jeremy Hunt's CGT tax raids haven't helped either. JMO ADYOR!
Totally agree Crafty, if CEO is looking to refinance the group/strategic transactions, the timing will be driven by getting the right deal(s)/valuation(s) for existing shareholders. We are all aligned with MM and the 65% there. This issue for a lot of shareholders is patience - Kelso and a lot of PI’s want a quick buck. Last year wasn’t the year for a deal, this year is, and I believe MM will want to address the valuation this year so that he can invest for growth again (including M&A) which is off the cards currently due to THG’s lowly valuation.
@Monty If he had no intentions of relisting in USA then he wouldn't have spent £15M getting all 3 divs USA ready.
The primary reason for leaving LSE is it is not fit for purpose, he cannot grow his businesses there. Shorts are in complete control and LSE SP is not a true reflection of the SOTP
Not just THG but multiple companies and multiple newspapers ALL saying the same thing.
Back in 2021 MM said he was going to separate and relist, but only when the time was right. Look at the global macro over the last 3 years and you can see why it has been delayed.
If you listen to the THG webcast earlier this year he says in the Q&A:
'Now as the capital markets start to improve THIS YEAR and as interest rates start to fall and inflation passes away and capital comes back into the global economy then the optionality increases month by month.'
He does say - THIS YEAR and the requirements are getting better month by month
We are currently in June so just 6 months left for him to make his move.
Roll on the AGM :)
"It feels like THG are waiting for the markets to understand or 'get' THG rather than going hell for leather to make that long list of value adding opportunities happen."
Correct
Whilst constantly damaging City relations by constantly sniping at it, demeaning shareholders and working in a silo in Manchester and not understanding that London is the key financial centre in the UK.
Change in mindset required and that's how we get the significant undervalue.
Too much *Not* happening and the present strategy is not delivering shareholder value. Couldn't be any more obvious.
..missed this one, few days old now but we know EU has followed.
Bank of Canada reduces policy rate by 25 basis points
https://www.bankofcanada.ca/2024/06/fad-press-release-2024-06-05/#:~:text=The%20Bank%20of%20Canada%20today,policy%20of%20balance%20sheet%20normalization.
NY listings are very expensive, you have to release key finial data every 3 months mandatorily also, that’s quite a lot of work. You then need to do regular arbitrage to ensure your USD and GBP SO’s are within a similar range sometimes to prevent share price manipulation between countries and currencies as well. (Again it’s all costly and THG lost £185 million last update, so it’s not exactly awash with resources and cash. NY sounds good but it’s not some easy to do cheap thing….
Perhaps Poochie is more apt given how much attention the dogs reference still seems to be receiving here.
Did someone say gooochi? handbags anyone?
I watched the House of Gucci movie last night and then did a quick reality check on Wikipedia. Anyway, one thing stood out.
When the Gucci family were ousted from the board in 1993 the business was loss making and valued at $300m. By 1997 it was valued at $3.8bn. That's a 12.7x Inc in just 4 years.
THG. Since two years ago when the business was 'undervalued' at 170, we are still at 70. No added shareholder value in 2 years. To match Gucci we would have to go to 890 in the next 2 years.
It feels like THG are waiting for the markets to understand or 'get' THG rather than going hell for leather to make that long list of value adding opportunities happen.
I know Gucci isn't THG, I simply offer it as yet another turnaround example.
OSG, why aren't you posting all this stuff on Kelso Board seeing as you don't own THG shares 🤔
OSG, just tell us your buy back in price and we'll all sell up till it reaches it x
Manjana
Some have been waiting 2 years for the "significant undervalue" mentioned at the time of the 170p Belerion King Street bid.
Here we are at 70p and a list of reasons as long as your arm as to why that is and the most recent being a "my dogs got more" jibe at one of his own minority investors.
Waiting with bated breath for this big news due today !!! Any idea what time it’s being announced???
TH sorry but I've just literally got back in the door and didn't even read your post so it wasn't me that got it deleted.
Moniman good luck over there. You never know you might get a response off Matt Moulding but your probably more likely to either not to get any response or antagonise a few into posting @THG. Let us know what response you get.
There's a lively debate on KWS thread (other site) concerning the receipt of multiple offers which were not disclosed, according to one poster there were five before the final release.
Its more common than perhaps investors realise, I found out by accident that one of my companies had received two PE offers without releasing info, this was based on feedback from larger holders.
I think its important to realise THG isn't alone in this low valuation market, interestingly HCM has just issued a note similar to the Peel Hunt/THG approach.
Big news tomorrow 💩
All these trackers buying shares !
Was thinking the same thing Novice. Opened him/herself up further.
Looks like he hasn't taken kindly to being accused of being affiliated with Kelso. Hmmmm.
Looks like onsolid has had my post deleted also. What a weapon
Of course he holds shares, as if he’d be so frustrated by the CEO here performing own goal after own goal. The guy is like a PR hand grenade
I don’t actually believe you partially sold your THG holding, I actually think you don’t own any stock at all. My opinion. We mostly all want change and know what the issues are but your spamming is worse than the Dubai mob because at least their posts aren’t like essays repeating the same stuff.
You probably sold out in mid 60s and you’re in a panic as the THG ship slowly departs from the port.