Member Info for 1pencil

Good post, lets see how this month plays out especially when THG's market cap will drop once 'B' shares are cancelled.

I would be very surprised if there isn't buying at this level.

An interesting similarity between the below funds is their approach to investing, all long term, value orientated with 'patience' being an often used term (one actually Patient in title) .

Gabelli Small Cap Growth

Patient Capital Management

Third avenue value fund

This is the polar opposite of tracker funds which are anything, but patient lol ..

One other thing that stands out from these two groups is returns, typically a (non S & P) tracker such as the ones mentioned in previous posts return in the region of 5-7%, contrast this with the above group, no comparison really.

Main link:

https://www.hutch-med.com/

New one on me, that large trade looks like a client worked order off book.

'Systematic internaliser'

'investment firm which, on an organised, frequent and systematic basis, deals on own account by executing client orders outside a regulated market or an MTF.[Note: article 4(1)(7) of MiFID]'

More than welcome SMB, hope things get sorted soon.

Best wishes to you both.

Smythsmoneybox, quick summary as best I can:

THG is separating one of its divisions, Ingenuity with the two remaining divisions (beauty and Nutrition) being referred to as 'Remainco' while separation takes place.

Existing holders of THG shares also have the option to receive shares in the separated company 'Newco' by way of election, helpline number below.

-Shareholders who need assistance in completing the Form of Election or have any queries relating

to it should telephone the Shareholder helpline on +44 (0) 371 384 2050

The full time table is listed below together with the prospectus which details whats happening at each stage.

https://www.lse.co.uk/rns/THG/ingenuity-demerger-circular-and-notice-of-gm-1lmp09qgh3rei5t.html

Post any questions you may have, plenty of folks here to help out.

(Yicai) July 11 -- China's major stock indexes gained after the main securities regulator announced stricter requirements for short sellers.

https://english.sse.com.cn/news/newsrelease/voice/c/c_20240712_10759805.shtml

Yep, the Chinese regulators tightened regulations earlier this year on short selling, not sure exact details but I think the gist of it is to support the markets which to some degree has succeeded.

It will only take one of the existing funds or a new investors to come along and break this impasse, although I will miss the daily gyrations from a trading perspective.

Company cannot be best pleased either, many of the options are based around share price performance.

Nov US data..

Top-line spend

Online retail spending is expected to hit new highs this holiday season. Adobe forecasts consumers will spend a record $241 billion online during the 2024 holidays, up 8.4% from 2023.

https://business.adobe.com/resources/holiday-shopping-report.html

The wild card is how the market perceives this 'new' company, suddenly THG in 2025 will go from a loss to profitable, most companies do this over time but THG is changing loss to profit back to back as it were.

A re-rate has to be on the cards as the business model has fundamentally changed, that said THG is not quite out of the woods as it needs to balance reducing debt with shareholder returns, dividends and or buy backs.

Keeping a close watch on trackers and SEC notifications for any signs of uplift.

Well its all happening in Dec, expecting a gradual increase as we approach cancellation of ‘B’ shares later

this month (subject to resolutions being passed).

If calcs are correct it should equate to 7p based on Fridays close, reversing the fall when shares were issued mid Oct.

From Jan 6th THG will be in the Equity Shares (Commercial Companies) Category with March being the date for index inclusion.

Interested to see where the cards fall, who is holding what especially Frasers

Those are staggering returns:

Gabelli Small Cap Growth AAA

AVERAGE ANNUALIZED RETURNS

As of 2024-11-27

+19.52%

+32.22%

+9.42%

+12.90%

+9.63%

Thanks amones, I must confess too that mine is still in draft form.

With regard to shorts ect.. this began when interest rates started going up along with inflation, I would have to look at my notes but seem to remember Crest stock on loan hitting 20% so clearly something changed, perhaps the biotech sector became part of a hedging strategy for large funds ?

One option is for the company to buy back shares, because HCM is fairly illiquid it would put the brakes on all of this hedging activity, after all the free float is still quite small.

If you do write an email can I suggest including this as the company and other holders cant be pleased with the s/p performance either.

New holder, good track record too.

https://www.gabelli.com/funds/open_ends/443

Good end to the week, I suspect the circular publication was a watershed for those not able to buy now closing the gap. (market cap is now higher than before placing).

There's at least half a dozen UK companies that I am aware of that have issued some sort of notice in respect of the increased costs associated with NI contributions, this impacts lower paid workforce higher due to threshold being dropped.

Mike Ashley has 4,000 staff at his warehouse in Nottinghamshire, see earlier posts on this topic.

Interesting terminology starting to surface with regard to distribution sites 'lights out fulfilment', think about that for a moment and what it entails, no heating, lights or humans and 24/7 - 365.

*was not completed post demerger

I guess that counts as 'in' November for those of us pondering on original wording.

Addressing several posts on why the fund raise was completed post demerger, imv its clear the board wanted to include everyone on the same terms even if this involved a protracted and somewhat complex offer, all shareholders unequivocally have the same opportunity.

Its not quite as expected but the end result is the same. In order to compensate for taking up Ingenuity shares intend to buy equal amounts of THG to hold my corner (as it were).

Great to finally have a timetable, note Barclays appointed as sponsor for new listing.

For those not on email notification, todays update.

https://www.hutch-med.com/news/news-press-releases/

Perhaps I should re-phrase that, did anyone send a communication ?

Worth reading Peels note in view of the last 2/3 posts.

https://www.peelhunt.com/media/pheh1pii/uk-equities-final.pdf