Roundtable Discussion; The Future of Mineral Sands. Watch the video 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.
Read or misunderstand? The whole point is that 15 months is the flexibility period. It was EXPECTED to take 6 months to execute
Why do you find this concept hard to understand. Also you’ve never been clear why you seem to disagree with Matt Moldong? Have you listened to the call out of curiosity? Answer is probably no
I mean that obviously given you thought there was a “wait and see” in relation to Cult Beauty. Completely unaware that SoftBank wanted to do the deal then and there
I'll read the RNS's you listen to your calls Golden
For the last time 2phev. I am talking about a call as that was my very first post. Also the conversation is talking about striking of the option. Not just completing seperation
Another quote from Matt in the call. “15 months is agreed purely to give us flexibility. The expectation is that this will happen in 6 months”
You have to have an end to an option. It’s good governance. You can’t just have them open ended. The EXPECTATION as I’ve said from post one is that this would be done and exercised in 6 months
Why are you arguing with words directly from Matt? Is he an idiot?
I know you keep flashing your RNS but management guide to what to expect. RNS are just factual. It’s factual there was a 15month limit. It was expected to complete in 6 months. Why is this so hard to grasp?
Goldy
The good news is it allowed me to grab 50,000 shares at around £1 average ..the bad news is we're languishing at 80p. Not for long though, I would think.
By the way, anyone know if Betaville provided any commentary/analysis on the bid process and its failure>?
For the last time Golden I'm not talking about a "CALL" its all in this THG RNS the written word is worth more than the verbal one
https://www.lse.co.uk/rns/THG/agreement-acquisition-issue-of-new-shares-w9pk9wo7trnsle2.html
The rationale would also be interesting to hear.
Yeah that’s was the worst business decision of all time- cost the company a share price decline of 695p to 80p
*SoftBank wanted to do the deal straight away.*
Wonder how badly the decision not to oblige was regretted.
Goldy- you ate right Matt says that in May 21 - the issue now is I think the world has changed so much
Matt says it twice and very clearly. The expectation is that it goes through in 6 months time
It’s in the opening remark and again in the 23rd minute. The 22nd minute also states how SoftBank wanted to do the deal straight away. So suggesting your wait and see theory was made up
Goldy
No it’s dead clear on the call. 15 months is just the life of the option. If you’re confused why not let Matt make it crystal for you?
He goes into it in quite a lot of detail so I’m sure you’ll get it straight. Otherwise you might want to give him a call as it’s a worry if he’s got it wrong also!
Goldy
the paragraphs are from the original rns in may 2021 Golden
Separation within 15 calendar months (the "Separation Period") from the date of this announcement, although retains the right to extend the Separation Period by up to a further 6 calendar months where reasonably required
Are you reading what you want to read again my way or the highway
The 15 months is the long stop date on the option. Matt says (and somehow you’re arguing with words from the Ceo here so sort of madness) is that it’s “expected to complete and trigger within 6 months”
15 months is just as you have to have an end date on an option. You can’t have it open ended. The expectation said by the ceo at that date
Also the 15 months is to “effect the seperation” something which we know from Steve whitehead at the last update is done at end of H1 (today) and the investor relations reply someone got and posted on here
The triggering of the option could happen at any point in the 15 months so long as THG has “effected the seperation”
But again you’re disagreeing with the ceo as well as mixing up the process of speration with triggering the option. Although joined they are separate
Goldy
For goodness sake Golden give it up like you have on Boo BB clarification of the SBM option
THG has granted SBM a call option, exercisable by way of a $1.6bn primary shares subscription for THG Ingenuity equity, giving rise to a 19.9% interest in THG Ingenuity (the "Option"). The Option attributes to THG Ingenuity an enterprise value of $6.3 billion (£4.5 billion).
· THG and SBM have agreed to explore future commercial arrangements between each party's respective groups.
· SBM's strategic investment in THG demonstrates their commitment and alignment of interests in supporting THG's continued growth.
For the purposes of the Option, it is anticipated that THG Ingenuity shall be separated from THG into a THG owned and controlled subsidiary company (the "Separation"). THG has agreed to effect the Separation within 15 calendar months (the "Separation Period") from the date of this announcement, although retains the right to extend the Separation Period by up to a further 6 calendar months where reasonably required. THG retains the discretion to separate THG Ingenuity by way of an IPO, sale process, or other structural options. The Board of THG will conduct a review to establish the optimum structure for the separation of THG Ingenuity, THG Beauty, THG Nutrition and THG OnDemand, in order to maximise value for all stakeholders.
So they could go until mid Jan 2023
THG PLC ("THG", the "Group" or the "Company"), the proprietary technology platform specialising in taking brands direct to consumers ("D2C") globally, announces a financial and trading collaboration with SBM, comprising a subscription of approximately $730m (the "Subscription") in THG new ordinary voting shares (the "Ordinary Shares") and an option and collaboration agreement (the "Option and Collaboration Agreement") granting SBM an option to subscribe for a 19.9% interest in THG Ingenuity ("THG Ingenuity"), and establishing potential collaboration arrangements drawing on the expansive opportunities amongst the Group's and SBM's respective affiliates as appropriate.
SB affiliates are linked to the "option and collaboration agreement" this kicks in when Ingenuity is officially separated longest case Jan 2023
These are facts taken from RNS's not investor calls which we all know can be taken badly by the market
2phevs it’s not my way or the high way. I’m just stating FACTS that the investment was only delayed as THG couldn’t take the cash. Not a “wait and see”
If you don’t like it listen to Matt Moldong say it
Goldy
ooo Golden its your way or the highway
Personally had an experience many years ago where a US company was trying to throw money at us constantly when we didn't actually need it eventually we convinced them to take warrants at much higher prices but give us their expertise and US client introductions which went well once we proved our unique selling points.
Just saying there could be more evolving here than your set in stone view
Yesterday, someone bought 2.9m shares, do you really think they do not do any research just spent that much on a share? Who is losing money, only we small PIs, I am not ramping/de-ramping, stick to the fact that has happened, not the speculations which no one knows. ( don't give away your shares that easy to shorters, they are going to fight to teach other to buy those shares back )
The giant global crypto Ponzi scheme is unwinding, Three Arrows hedge fund gone under, key players defaulting on large margins calls.
At best its not going to help sentiment , depends on how many regular financial institutions are connected in some way, for example Scottish Mortgage in the UK, not huge beans but still.
2phevs. It’s fine to have that view but it’s never been said. Also that’s DD. You see it work. Also the flaw in your thesis is that Matt says “SoftBank wanted to do the deal now (12th May) it’s purely that THG wasn’t ready to receive the funds”
So nice idea but we know SoftBank weren’t waiting. It was only that THG couldn’t take the cash hence the seperation
Goldy
Ouch Goldy having a bad time in the sector?
Just my opinion that a huge company (no matter how much DD is done beforehand would actually like to see the system working before they go full ahead with more funds and recommending the company fully to its partners.
I’m not saying anything negative about THG im giving a view on the SoftBank option. Overall my posts on THG are positive
That Cliff bar was bought for $2.9bln and MyProtein deemed worthless is just scandalous
Goldy
That is what I have learnt from the chat board, the troll/paid by shorters, always can find the point and stick that point to swing PIs' mind, well just use your own judgement. If there is any negative development will impact the sp, would you spend 1M your own money?
they owe us an update on this - its a disgrace not to as this is why a lot of people invested over 13 months ago
again THGs seems a good company, but their investor relations is appalling
https://www.thg.com/results-reports-and-presentations/
the analyst call is here - where Moulding says they are working on a solution specific for SB, and he is very confident it will go ahead
2phevs. I’d suggest you re listen to the analyst call from 11th May. There was months of due diligence particularly around the capability of Ingenuity. Simply integrating cult isn’t exactly “new” in the realm of the world. Also it’s not the business model for ingenuity
Also you thesis ignores that Autostore call THG a CUSTOMER and not a partner. And why in your thesis would all other SoftBank businesses drop their on-going collabs announced in the PY H1 statement?
Goldy