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Https://www.lse.co.uk/rns/voting-intentions-at-thg-agm-v0k11xza2a1619m.html
Just registered my votes against the Invisible Man..
As I have said dozens of times in this forum, if he doesn't do something soon he risks losing the lot, this Kelso RNS rubber stamps this.
A bold statement from Kelso that will ring true with many of the 65% club.
MM is running out of time and has to act soon.
Going to be an interesting few weeks ahead as we run up to the AGM.
Good news. I've been a bit irked by Kelso being so quiet in recent times and the fact that they never ask questions at the analyst meetings. Whilst this isn't a grenade being thrown, it's something for MM and that fool Allen to think about
I don't see them doing anything about premium listing now as it's potentially very close to auto. They should have done this at latest a year ago , or I would have liked to see it happen then when it became clear of delays
Invisible chairman for sure though
The whole point of the chairman was to devise and execute a strategy that would unlock shareholder value and establish meaningful relationships with the City. MM still goes off on his unhinged rants and shareholder value is still very much suppressed. He's failed miserably to put it mildly, whilst collecting a considerable salary
That's all because the Invisible Chairman is MM's paid lap dog..JMO
It’s a no brainer to vote against the re-election of Lord Allen imo. Zero visibility for whatever reason. Businesses can’t be expected to carry expensive passengers.
Maybe the 65% club will ask to hold another meeting seeking the following resolutions:
1. MM to step down as CEO and appoint JG as CEO
2. LA to step down as Chair and appoint MM as Chair
Wouldn’t surprise me with the childish games MM plays. Lol
Even MM isn't that stupid to appoint JG as CEO.
It makes me chuckle to think MM is a Kelso shareholder yet the Kelso board is still vocal and actively communicating their opinions. Good for them. I hope other IIs are minded to do the same.
Could press MM further towards taking THG private.
He strikes me as petulant and a little unpredictable (beyond Linkedin)
That said, I do think he's the right person to be driving THG forward - just seems unable to handle the role of PLC, CEO.
Magnum PI if you check out the number of interests that TGL has had to register and disclose as being part of the House of Lords then imo it might help explain why the invisibility. It must also be the best part of a day, or two with an overnighter to keep visiting Manchester for say Board Meetings and might explain why TGL never seems to be present at the Quarterly updates and Analyst meetings when so many other Chairs are. You're ultimately the one in charge.(Obviously the likes of Zoom and Microsoft Teams nowadays can help bridge the gaps where an in person attendance is not required.)
Could somebody like for instance Poppy Gustaffson at Darktrace transition and take on the role if it became vacant? Or who else could be a good candidate?
Kelso are quite clearly pointing out it that THG would be a top FTSE 250 company if premium listed and there wouldn't be any shortage of takers you would think.
MM buying 8% of Kelso along with his buddy in order to silence a public listed company is a reflection on how Childish he actually is. Could anyone name another CEO of a FTSE 250 or 100 company that would do that...answer is None! JMO
The use of the word remiss is interesting. Strong wording. Kelso starting to build case for breach of fiduciary duty?
Chair got to go clear as day
Director of IR got to go as refuses to do the absolute basics of the job description
Of course all this means nothing if major CE is close which is the only way I can put any logic to this
There is a lot of dissent today. What happened to the guard dog? It's happening on his watch FFS.
Train Tracks the most MM would ever get at Kelso is a seat on the Board if he crossed 10% and requested it but even with that he would be outnumbered by Kelso Directors in terms of deciding how they conduct their business. He'd be one voice and vote and lets be honest, an 8% holding already hasn't deterred them and can you see him travelling down to London and back for Board Meetings and the like. Say Sparta or another Activist buys back in, would he or even could he do the same for each other one? Improbable imo.
In any case there are simply too many High Net Worth individuals that own Kelso shares for him to ever get anywhere near a 51%. He would also be paying more for each successive chunk and Kelso could further place on a rising share price to dilute him.
Todays RNS from Kelso again draws public attention to the huge valuation gap, lack of action and in my view shows there are easy fixes to adding shareholder value.
Might it prove an opportune time and tempt Private Equity forth again?
Vote them all out
Get it gone to The highest bidder
Keywords Royal Mail wood group
This will never be sold under mouldings watch
1.2bn of. Shareholder cash wasted
Just lodged my votes with AJBell ….. there were a few additional AGAINST votes and not just the reelection of the Chairman.
I've voted against everything apart from the annual report and reappointment of Helen Jones as Director.
The 65% club will soon be getting impatient for a return on their investment considering its been over 2 years since they topped up the % from the Softbank fire sale. The invisible Chairman is definitely on borrowed time and no doubt MM will start feeling the heat soon unless the SP starts heading Northwards. JMO Adyor