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Companies don't issue two sets of guidance, that's a fact.

Brokers can put their own spin on what the company says but that's it, just their opinion nothing else.

Okehurst1, you taken to making information up, why ?

Investors have guidance as issued on 23rd Jan TU

· A dedicated focus on high-margin categories and relatively low maintenance capital expenditure supports the Group's expectation of being broadly free cash flow neutral in FY 2023, and significantly free cash flow positive in FY 2024.

Couple of things of interest after re-reading the article below. It states 'permanent home' which suggest regular income for ?THG Studios 2) Sky Sports sponsored which may mean regular onsite slots with well known sports figures:

"Mr Neville launched The Overlap in April 2021 and has counted the likes of Harry Kane, Roy Keane and David Beckham among its guests.

Previous episodes have seen Mr Neville interview his guests while walking around their local neighbours.

But now the series is to have a permanent home in Manchester after Mr Neville met with THG co-founder Matthew Moulding over a cup of coffee."

https://www.msn.com/en-gb/news/other/gary-neville-s-the-overlap-for-sky-sports-to-have-permanent-home-in-manchester-thanks-to-a-cup-of-coffee/ar-AA17feTV

This could be a real marketing asset, remember this one ..

https://www.instagram.com/p/ClLjQYyr9R9/?utm_source=ig_web_copy_link

The previous incarnation as Insight Business Support PLC accounts gives an idea of ongoing costs to run a listed company, around £260k with fund raising on top, that's going to quickly eat into remaining cash pile.

ISBU had £500k of cash at the time of fund raise but still well short of anything meaningful really.

Okay, that's why its a bit confusing - it used to be called Insight Business Support plc trading under the ticker IBSU, subsequently changing its name to Kelso in Nov 22.

https://www.proactiveinvestors.com/LON:KLSO/Kelso-Group-Holdings-PLC

There's a small thread running under the above ticker on a d v f n

From what I can gather Kelso IPO'd in Nov but didn't raise funds until Jan 23. According to the prospectus they had not identified an investment at this time but were clear on their objectives, namely:

"5. Reasons for the Placing and use of proceeds

The Placing is being made to provide the Company with the resources to undertake its strategy of making
an acquisition."

They also mention a 'lock-in' but skimming through I cannot see the terms.

Kelso documents available here https://kelsoplc.com/results-and-reports/

There has to be a catalyst there, why would al these individuals come together, form a company then invest in err..one other company ..

Add to that the cost of maintaining a listing, running the company - there is no divi income so returns can only come from capital appreciation either through organic growth or some other event .. I would speculate the BoD have more than an iinkling behind their involvement..

No director purchases despite being well below both CEO and LA's other stock purchases.

That whole Kelso investment remains an enigma to me cannot fathom out why they would go to all that trouble with such high profile investors if there wasn't some catalyst afoot..

Agreed, maybe its one or more of the seed capital holders converting their holdings?

I would have thought so too although its customary on many TR1's to indicate who the beneficial holders is (4. Details of the shareholder)

Not 100% sure and bearing in mind everyone has a different idea on how they should be completed.

TR1 indicates threshold crossed on 24th Jan, price was way above IPO at this point.

Interesting Kelso RNS, Spreadex now have just over an 8% holding, presumably they purchased in the market ?

What's unusual is Spreadex appear to be the beneficiary as opposed to a private client.

Joking aside, its a great clip, what an endorsement for THG Studios, Sky sponsored too.

See LA's post further down (courtesy of bob, a d v f n)

https://www.linkedin.com/posts/matthew-moulding-b131929_theoverlap-wearethg-activity-7029057540655067137-72pa/?utm_source=share&utm_medium=member_android

I guess it was the next step, just didn't envisage that level of interaction between banks/lending sources and their clients.

Fitch have their own ratings systems for bonds:

"Fitch Ratings’ Environmental, Social and Governance Relevance Scores (ESG.RS) communicate how ESG factors affect structured finance and covered bonds ratings."

https://www.fitchratings.com/research/structured-finance/where-esg-matters-for-global-sf-cvb-ratings-2022-update-11-01-2023

This could be a major driver for inefficient brands towards automated centralised distribution.

Here's something of interest regarding funding of businesses, KPI's linked to ESG targets;

"-- Balance sheet remains strong with a new GBP325 million credit facility agreed, incorporating ESG-linked KPIs"

That's the first time I have seen this as part of a finance agreement, very telling indeed - maybe THG's Eco investment strategy is not a 'waste' of time after all..

Oke, this metric doesn't even exist for Ingenuity let alone measure the business on it 'GMV margins are wafer thin'

Let me understand this properly, are you suggesting Ingenuity charge 1% for client hosting services because of '1% GMV' ?

Here's one service provided under the THG umbrella.

"THG Commerce is built upon 15 years of continuously optimized, commercially proven commerce features and functionality, built using our own proprietary technology for rapid go-to market strategies and full global rollout. Our platform now supports THG’s portfolio of over 160 ecommerce websites around the world, and also runs retail sites for some of the world’s leading brands"

https://www.ingenuitycloudservices.com/products/thg-commerce-platform/

How much would it cost to replace and use third parties for hosting THG's web sites, what would happen to those Ingenuity customers already onboard?

Could you guarantee bandwidth speed, what about colocation services for compatible business?

Loss of control, having to rely on third parties to make changes/updates

The list goes on but you can see how integrated the hosting service is, each segment has been purchased/created to fit a need adding value along the way.

How can you say it hasn't worked when two of its biggest customers (Beauty/Nutrition) depend on it, without Ingenuity they wouldn't exist as we know. them today.

What's the alternative - time, give it time to gain traction, the board have stated adding £1b of GMV this year, can you not wait to at least see how that pans out?

Why not just take a breather and relax, have you no life outside of posting on this bb?

Its a no brainer to you Oke because you don't understand the business.

Plenty of stock on RSP tad below the offer, catalyst may have been the recent acquisition ?