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Market makers sticking to sticking to NMS, very hard to get in/out in any size.

100% agree, only word missing is 'symbiotic'

“Although a divisional IPO has been mooted, we see a strategic partnership as potentially more likely, opening up new growth and synergy options,” Jefferies said in a note on Thursday.

Mentioned Sir Tom Hunter yesterday in response to another question.

This interview from a couple of years ago is a great humorous insight into how THG came about, highly recommend.

https://www.youtube.com/watch?v=pMjDjkQsAYM

Its relative, consider that a large % of the share holder base have been invested for 14 years or more.

That includes of course Matt/directors but also Balderton and several others, even Sofina a relative 'newbie' has 8 years under their belt.

'Sofina acquired an initial stake in the company in 2016 in order to finance the expansion of the group. Throughout 2017, 2018 and 2019, Sofina purchased additional shares through both primary and secondary transactions in order to support the group’s fast growth. Finally, in 2020, Sofina supported the company’s IPO and took the opportunity to further strengthen its capital base.'

FMC Corporation expands biologicals crop protection platform in Canada

https://finance.yahoo.com/news/fmc-corporation-expands-biologicals-crop-113000728.html

Huge ADR volume, 3 x average already, markets barely open.

Sir Tom hunter increased through his investment vehicle, West Coast Capital.

https://www.westcoastcapital.co.uk/portfolio_works/the-hut-group/

Indeed, I would have to look back at my notes but from memory Mark's names rings a bell, these were the declarations from that period.

Long positions, previous notified holdings in (brackets)

Ophorst Van Marwijk Kooy Asset Management (1.94%) ……………………… 1.93%

Balderton Capital (UK) LLP ……………………… 7.46%

BlackRock, Inc (1.23%) ……………………… 1.22%

The Vanguard Group, Inc. (2.62%) ……………………… 2.63%

Sofina Capital S.A ……………………… 8.89%

Kelso ……………………… 0.60%

Brian George Kennedy ……………………… 2.86%

Norges Bank (1.73%) ……………………… 1.81%

West Coast Capital (1.41%) ……………………… 2.03%

Qatar Investment Authority ……………………… 7.32%

Matthew Moulding/Close relative of Matthew Moulding ……………………… 15.80%

THG Employee Benefit Trust ……………………… 5.90%

Tim Bunting (Balderton Capital (UK) LLP) ……………………… 1.31%

Mark Evans (ex- General Partner at Balderton) ……………………… 2.71%

Sir Terence Patrick Leahy ……………………… 1.24%

HARBROOK LIMITED ……………………… 1.97%

Total ……………………… 65.68%

Notifications deemed trading or prop accounts omitted

Errors and omissions accepted

Strong results hence outperformance with other pharms, notably Beigene

Biological Pesticides Market

Soybean remains the largest crop with +50% share in area and value, followed by corn and sugarcane

+70% of the market value is BioNematicides (soybean and sugarcane as key crops) and BioInsecticides (corn is the key crop)

Bionematicides in corn is considered a big growth opportunity

Biostimulants - Soybean

Soybean area treated with biostimulants has increased 17.5% from 2020 to 2023

An increase of 43% in biostimulant value between 2022-3 was mainly driven by product price

Foliar application remains the most common in soybean at 87% in value terms in 2023, with 13% of biostimulants in value terms applied as a soil treatment

https://news.agropages.com/News/NewsDetail---49474.htm

Agreed Canary, we share the same view which seems the most logical given what happened prior with Softbank.

Merging of listings is not far away, perhaps within six months, trying to keep a look out for final decision as that maybe the nod for trackers to get involved.

Major shareholders support Matt as they have a longer term view, contrast this with retail holders who think they have come across a bargain and want to realise it today.

Balderton and Sofina both have a say in what goes on with board representation, although I think the Balderton fellow has now stepped down.

The board are doing what they stated in the IPO prospectus and doing it well given economic backdrop.

Balderton time frame:

https://www.balderton.com/news/thg-a-direct-to-consumer-pioneer-born-built-and-thriving-in-manchester-england/

That's some move for HK

HANG SENG INDEX (^HSI)

17,093.50+505.93 (+3.05%)

THG Ingenuity has launched a white paper highlighting five key challenges for fulfilment companies to overcome in 2024.

https://www.logisticsmatters.co.uk/White-paper-path-ahead-fulfillment

Some good info which helps justify Ingenuity investment, see ROI comments.

p3 inflationary pressures really stands out and should over time give THG Ingenuity a significant lead over the competition.

https://www.linkedin.com/posts/ingenuitycommerce_fulfilbythg-overcoming-fulfilment-complexities-activity-7170440387151491072-9_9o/

Both the Fed and ECB have said this week close to reducing rates, that's a first and should be enough for trackers to start changing weightings accordingly.

Not quite there yet, maybe June/July which may coincide with merging of indexes here in UK, we know the gov is on the case at least to some degree with British ISA.

Few catalysts there which may help.

Onsolidground, most of your post below related to the low share price and timing of the grant, my response was in relation to this.

The plan was agreed by the remuneration committee in 2022 and detailed in the AR, these are performance based options which need to hit a threshold, at which point shareholders will benefit too.

They are nil cost options, makes no difference what the share price is when issued.

Price(s) nil

Volume(s) 1,745,810

I noticed a few of the agri tech business starting to recover a bit, FMC being the one highlighted by Cavendish in their note.

https://finance.yahoo.com/news/fmc-fmc-11-7-since-163014584.html

Fertilizer prices are also starting to increase, not sure if there is much read across to PHC

The problem stems in part from investors misunderstanding how and when news releases are made, and why.

No listed company issues RNS's by themselves. Companies only have access via their 'gate keeper' aka broker/NOMAD, its these guys who are authorised to release statements on the companies behalf, if there's no RNS its because the broker has decided not needed, not the company.