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I picked up loads in the 20's but why would I sell them now knowing that they should be at least 70p. I picked up loads of RR, shares below 100 but I would have been annoyed if I sold them all at 200.

This still has a lot to run and there could be plenty of news to come out such as news on the VAT outcome, a possible sale of a subsidiary or a full buyout. MA has gone rather quiet on THG I wonder if he has been included in discussions...

There are still some sizeable short positions who no doubt would like to buy back, let's face it they were responsible on pushing it down to stupid levels. THG has a lot more recovering to do imho.

I would say that since I have been a shareholder this was by far the best update. I think it's also the first time that both divisions are performing well as in the past we have had a seesaw affect with one performing and the other struggling but to have them both doing well is very welcoming.

MM has got a lot to prove and I will be intrigued to see his next move. I am still of the belief that they are in formal discussions with regards to a subsidiary sale or even perhaps a full takeover, hence no director buying as lets face it I bet they wished they could have topped up in the 20's and 30's.

I will continue to top up in the dips as the long term trajectory is up.

If the drama takes off in the US then it could be a great boon as people will be curious and try it.

As expected shorts are closing before the ex div date.

I'm one of those that 'dumped in the 40's' but I have been buying back in the 20's. Kod represents a good risk/reward at these levels.

Gold is flying and at some point Bernard has to prove that Kod isn't a one trick pony.

This has been oversold and is a good long term hold. The company goes ex dividend on the 16th October.

There has been a string of positive catalysts for THG which include the selling of Claremont for 20% of the current mkt cap which the city gave little or no value to. They could potentially reduce debt further if the VAT outcome is positive. They have also received a proper broker note which has alluded to at least one more subsidiary disposal which will reduce the debt. They are back in the FTSE 250 and more importantly that I don't think has been mentioned on here is that IG have reduced the margin to 20% from 50%. A lot of positives which will help propel us to a proper valuation closer to Jeffries estimate. As I have mentioned before still no director buying would suggest that they are still in talks, is this to sell off a subsidiary or the whole company. Who knows but who in their right mind would short THG now?

I doubt it. If THG get circa £45m back from the tax man that should add at least another 4p as debt will be below 200m or would MM consider doing a share buy back with the money!! Anyway a great update and hopefully we should be in the 40's soon enough as hedge funds decide to buy back.

Maybe MM has a strategy of selling a few subsidiaries to get rid of the debt and start a share buy back. Perhaps this is the only way to increase the share price to a reasonable level. They sold Claremont, a company with a £14m turnover for over £100m, they have plenty more subsidiaries to sell and I'm a firm believer that Claremont is just the start.

It's obvious why the directors haven't bought more shares, trying to tout on here that the reason is because they have no faith in the company is really desperate. Do you really think that Selkirk were the only party interested in Myprotein? Do you think they could have bought shares when they were in discussions with them and others. Best you go and look at the LSE rules.

The directors can't buy shares as the company is in a closed period, equally they wouldn't have been allowed to buy when they were in discussions with regards to selling Claremont. I wouldn't be surprised if MA is party to discussions as his holding position hasn't changed and even the largest short hedge positions which could be his haven't changed for some time too.

I doubt most the posters on here are shareholders but are boiler room traders wanting a cheaper entry so they can make their 20% and then rinse and repeat. I wonder if Kelso are in this category!

THGismine45 - I think MM has done some good deals and has enhanced the values of the likes of Myprotein which was purchased for a rumoured £60m. On the other hand he has had some howlers like Idealshape and purchased completely unrelated companies like the stuff he has given to MA.

If they have had more interest in potential buyers for Myprotein, the subsidiaries like Claremont, David Berryman and Brighter foods will be surplus to requirements hence the recent sale of Claremont.

The problem with someone like MM is that there needs to be more clarity. I think he is the kind of person who does not let the left hand know what the right hand is doing. So it can be frustrating for shareholders but I have the belief that he can turn this around and hopefully soon for all our sakes. It would be great to have something to cheer about.

THGismine45 - I was using the example that if Bentley labs were to be sold off that it would equate to THG being left with NO debt. Of course the EBITDA would decrease but not enough to value the remaining beauty and nutrition at £430m. Personally I wouldn't sell it unless an offer came in which was too good to refuse.

It would appear that the company is being streamlined for what purpose I can only speculate. Like I have mentioned on here many times, that the prevention of director share purchases would be most probably because they are in discussions involving the sale of assets. We have already had Claremont and I wouldn't be surprised to see at least one more. One thing we all know is that the SOTP is far higher than the current mkt cap. If Myprotein is worth up to £600m to Selkirk what would the likes of Nestle or Mars be willing to pay. That's probably why MM is focused on sales volumes over profit right now and if his plan works out shareholders will be richly rewarded.

The trading volumes of late have been relatively low and so the price can easily be manipulated by your boiler room types. The larger hedge funds haven't moved their positions for a while and no RNS from MA suggests that he could have been privy to the last disposal. I know the company directors are now in a closed period but MA isn't. I wouldn't be surprised to see Bentley lab's go for £250m+. If that were to happen the company would be debt free with the current mkt cap of £430m looking ridiculous. Nutrition and beauty combined at the bare minimum would be worth triple this. The two individual companies could make it into the FTSE250 on their own.

I can't see MM wanting to take THG private. Having openly said that £600m undervalued Myprotein, which I think is right then there is no way he can offer a low price for it. Larger investors were probably glad to see Ingenuity hived off as they didn't see the potential MM did or has.

I am still of the belief that at least one more subsidiary will be sold off and that net debt will be minimal. MM is going for volume and if his plan works out and he can start to deliver profits then he can decide what to do with the money. If the share price is still below 50 then THG should buy up as many shares as possible and increase EPS. I think over the next year or two he will focus on this and then hand over the reigns and focus on Ingenuity. I doubt he is bothered about being in the FTSE250 at the moment but when the company does enter he will want it to remain there. I think when the company is debt free and making profits the hedge funds will go and then we will get a fair valuation which is at multiples of the current price. Lets hope we are not to far away from that scenario.

The reason they are doing this is most probably to try to get holders to sell as the only people selling are hedge funds and they will need to buy back sooner rather than later.,The ftse indices are at all time highs yet this is just a few pence off all time lows. The price achieved for Claremont highlights the hidden value within the company. The SOTH are worth multiples of the current market cap and perhaps they could sell off another subsidiary or two to have net cash which then should be used for buybacks at these giveaway price.

With regards to Chair duties it has been mentioned here several times that Sir Terry Leahy should be the Chairman, is it a coincidence that he is a large shareholder in Selkirk and there was a clear agenda by kelso to replace Lord Allen. Kelso are described as an activist investor but are they or are they a trader as they have gone rather quiet on THG. It seems rather odd that Ian McDonald an ex Numis man was bumped off the Board of THG despite having support from MM who we all know berates Numis and who also happens to be a shareholder of Kelso.

I would have more trust in Lord Allen and the rest of the Board bar MM than all these other jokers who have a clear agenda.

It will be interesting to see how this takes off. THG Commerce has launched HYROX’s new direct-to-consumer platform, designed, built, and delivered by THG Commerce as part of a comprehensive long-term partnership providing seamless D2C shopping for athletes worldwide with 1am next day delivery cut-off times! Faster commerce unlocking growth without limits.

LOL. There is some truth in that though.

With regards to turnover it's pretty impressive that THG Ingenuity will have the capacity to ship 1 million units a day. With 430 more robots, 80 3D sort walls, 240 trollies and 3,200 sort locations, by September, this system will boost outbound capacity by 75%.

Great news for THG, talking of news it's interesting to note that the sell side brokers and press they control haven't really applauded THG for selling Claremont for £103m which is quite big news but they will focus on ending a F1 sponsorship deal and a shuttered hotel. A bit of balance from the likes of the FT would be welcome but it just goes to show that they aren't balanced and why is this...

I agree Cheshire, I must admit I wasn't happy about the CLN and I'm still of the belief there is at least one more subsidiary sale.

I think your value of £400m for beauty is out Stanley. THG paid £260m for Dermstore and £290m for Cult beauty alone not including Lookfantastic. Look at the list of products they own and the manufacturing facilities also. If an offer came in for the whole beauty outfit it would surely have to fetch over £1Bn.

It's great to see a lot more positivity on this board and I hope that MM can put some smiles on the faces of the long term suffering shareholders.