Member Info for Canary3

You got to love that..wish he was my mate

NM

I thought i would have look at this again, the rates are very very tough. Libor + 8% calculated very 90 days.

I the the delay to agreeing getting paid for the 5% is drawing the cash down very fast.

1 year libor last month was 3.63 , this week it is 3.69. So the current rate payable on the outstanding amount is well over 11%.

IMO NCM will be absolutely no hurry to pay for the 5%, they have indicated another 2 months after they agree to buy. So 3 months from confirmation.

If that gets delayed by another couple of months.?

The interest is now running in the millions per year., the 90 day roll up is very penal.

I also imagine there is very little left in the pot, say the spend has reached 35 to 40 million at over 11.5% thats over a million a quarter being added in interest. Clearly that 35/40 million is just guess of course.

I don't expect anything significant to be left in the pot to be credited to GGP.

So i can see GGP running short of cash as we go towards the end of the year, we know the banks won't lend until the loan is paid off, and i think that they will now just wait for the DFS.

If you are of the view that NCM want GGP on the back foot this plays into that idea, they could pay much much faster if they really wanted to IMO.

Tricky position for SD IMO, with the benefit of hindsight i wish he had raised 80 million quid at the last placing.

I know..i was agreeing it an absolute non -issue IMO

2phevs

Even if they have to shut stores , on-line will still be attractive.

Balance as ever.

Venture- balance is all, i wouldn’t sell because one client says it might have problem.

and of course the chairman is confident..LOL

https://www.just-style.com/news/matalan-announces-refinancing-plan-to-secure-its-future/

Matalan Confident says Chairman

Motives = Positives

One is commented on without any significant discussion? repeated highlighting of motives in the report

the other

Dominating discussion with all negatives in the report brought up multiple times

Strange

Lord Allen is a Glasgow east end man, he left school at 17 and made his way up, he is extremely well respected with a fantastic career behind him.

I saw a post recently saying he is ‘only a Non - Exec Chairman” , both executive and non executive directors, and non - exec Chairman of course, hold identical responsibilities and duty of care to shareholders in the eye of the law, the days of stuffing the board with ex directors feeding at the trough are long gone.

He can be held accountable in law if there was any deception involved in his purchase, I don't know the terms of his package either , but it wont include , hey lord Allen buy a million quids with and we will see you alright.

There is no way in the world he would risk his reputation by buying shares under false pretences.

IMO

Thanks for that Mr EMC2, I missed that.

Of course That should be 500 million shares not 500,000 Sorry for the error

The report says that management are only consulted for fact checking, so IMO that means the conclusions arrived at are not influenced by Management.

SD tweeted about the report and was pleased to welcome them as analysts and so by inference IMO supports it.

I am assuming that the report was fact checked, so i am also assuming that the extra 500 + thousand shares that are predicted to be in circulation by this time next year will in fact be issued.

SD said in the recent meeting when discussing inflation and actions to counter it, he said that offering Shares rather than excessive pay rises to staff would be one option on the table.

Could that extra 500,000 shares be for a staff the scheme?, or are the shares to be used to get cash to help with the overall financing required?

Or more likely a combination of both.

Still a long way to go before financing is clear as he also mentioned that he wanted around 100 to 150% of operating costs to be in cash to be able to ramp up if required.

So more cash required than previously indicated and according to Sprott an additional 500,000 + shares to be issued

Food for thought.

I had a friend who worked in telecoms and he went to do a pitch at Ocado, i went for pint with him later that week, he was absolutely gobsmacked by the premises and the technology , he said in his opinion they would do fantastically well.

The SP was about 1.20 , the next week they won a contract and it jumped , they then won another and it jumped again.

I thought i have missed the boat, he bought at around 1.80 and did very well indeed.

Don't underestimate eyes on the ground as it were.

According to the report posted earlier,

Neils yard left THg for Shoplify

Here are the top THG Ingenuity stores that have recently changed to a competitive platform.

Name Domain Rank New Platform Changed
St.Tropez us.sttropeztan.com 47,476 WooCommerce 2022/05/22
Neal's Yard Remedies us.nealsyardremedies.com 99,292 Shopify 2022/05/22
St.Tropez uk.sttropeztan.com 99,854 WooCommerce 2022/05/22
Celltrient® www.celltrient.com 138,979 Magento 2022/06/13
Daimon Barber www.daimonbarber.com 263,557 Shopify 2022/04/11

I eagerly looked for his commentary on THG or in his world , 'the smashed up lean-to'.

I thought he would make some insightful comments about Lord Allens 1 million pound purchase and how niaf he is, perhaps going on to say that he could have bought a whole house with that money, it could come with a decent conservatory attached and there would still be change left for a state of the art home office in the garden.

But no such luck, perhaps he is following that old saying,

Better to be though a fool than opening your mouth and confirming it.

Goldy.

Your post strongly implied ‘there’s trouble ahead ‘ to me.

This BB has been saying very clearly that the expectation is that the deal will lapse or be strongly amended, so posters are aware of the changing world.

But i apologise if you didn’t mean anything of the sort of thing i got from reading your post.

These overvaluations and inflating the value of the ‘Unicorns’ through subsequent financing rounds has been known about for ages and was first brought to the attention of the public through the fall of Woodford in the UK.

That is for this time around, it happens every 20 years or so, see Boo Hoo first time around as a good example.

In the states there are business that are unicorns with little or no revenue that is where the real pain will be felt.

I would suggest its part of the reason why the SP of THG is where it is, so IMO that is it is priced in for ingenuity.

In fact the the Lord sees it as overdone IMO, thats why he invested a million quid.

Pointing it out on the board is great as it does give some additional information, but to suggest / imply that THgG has a load more pain coming because of it is just wrong.

Woodford, Chrysalis were the cheerleaders exploited by the II’s, in Chrysalis it is Jupiter that made some easy money and are now leaving their investors holding the baby as they invested in it through multiple funds.

I suggest that people thinking that THG will fall by a large amount because of this headline need to calm down a little.

The more i think about it, the more extraordinary this purchase is . I tried to find out his net worth, but its tricky.

Say he is worth 100 million just for the numbers , he will have team of legal and financial advisors looking after his wealth, a lot will be in trusts and will have strict rules on what can be done with the assets within them. ( if you are interested look up Marc and Zac Bolan, all Marc Bolans money was in trust and after he died Zac was unable to get any of it, it is still in the trust to this day).

He will I am sure have many other assets that are illiquid, property and so on.

It wouldn’t surprise me if he had only has 3 to 5% of his total wealth available for investment in the short term, that is under year being short term.

So if he is worth a 100 million he would only have 3 or 5 million to invest...( only LOL) or if he is just out of the times 200 rich list he will have 500 million, but i think that will be on the high side., it will be higher.

This is a big investment for him no two ways about it.

He was born in Bellshill and went to school there, i went to school in Coatbridge next door, these were and are poor areas of the east end of Glasgow.

He has done exceptionally well in his life since leaving school at 17 with no job and he didn’t go to University.

That man knows the value of a pound!!