Member Info for CheshireLad

I doubt the change of ownership requires an RNS on THG plc part. Landlords change all the time for the majority of companies on business parks. What might require official word from THG plc is the terms of the lease/rent, however, with what is supposed to be around the corner, it’ll be buried in the circular.

Oke was correct that MM is being squeezed one way or another, we just do not know by whom and by how much?

GLA

Will be interesting to see if anything materialises off the back of this? Was it forced due to the collapse in equity collateral, was it forced or a requirement to alleviate future governance concerns post demerger or alternative scenarios, or will simply be used as a hedge for both, which is what a control freak might do! I wonder if the Council will see any of it?

GLA

Some would say this has been in pipeline for over a year, if your sceptical that is. If so, then like many others have said, and with something so intrinsically important, you under promise then over deliver, hence my previous post.

Like the more balanced view of the argument I actually think the publishing of the circular will be at the end of the month or closer to Xmas when everyone is distracted by, dare I say, Christian holiday period!

I truly hope something better is in the offering and other big hitters are now ready to make their move once the circular is published, but it's more a hope and with THG hope left the building a few years ago and was replaced by Kong.

Under promise and over deliver, it's not hard even at the top end of a business this should be clearly understood, but not with THG.

GLA

Once again, no news from the megalomaniac ego vain unmentionable one!

Shambles, shameless, unembarrased, brazen, unrepentant, remorseless, undettered, impudent

Just a few choice words which can describe the actions of the BOD and an employee!

GLA

Scolding Moulding …..still Hokding

GLA

All employees received a 5 minute video message from the CEO last Friday (08/11/2024), only employee's in the share plan received the email posted below, due no doubt to immense frustration by staff holding share plan options being relayed to the powers that be!

GLA

Even though the regulatory bodies are so ineffective, surely the press who despise MM should be taking him to task for this shambles. It's not if there is no evidence, it's truly shocking what is happening regarding the eroded share holder value over a sustained period, excluding the recent few months.

My average is relatively low, 51p, and I feel so sorry for anyone who has a higher average than myself, I should never have trusted MM with my money and backing, he has never shown anything other than buying already successful enterprises, anything he has touched has turned to S***. I believe he is a charlatan, which is appropriate as THG is linked to Northwich (the home of the Charlatans).

GLA, we are all going to need it, MM has fooled everyone, including large institutions who have now worked him out!!!!

Or PE arriving or that matter?

GLA

Reading the conflicting comments about remainco/THG plc holding a stake in the newco/Ingenuity, is that a possibly by way of not any single individuals or investor who roll etc but the resulting remainco/THG plc still retaining and having a strategic investment in the newco, it would make sense but unsure based on the conflicting previous comments whether a) there is no reason why not but would have to first hold shares in Treasury to allow corresponding allocated newco holding at demerger time b) no it’ll just be the remainco holders who’ll be allowed to pick one of options available.

What I’m trying to get at is will the remainco/THG plc be able to directly benefit in the future should the newco/Ingenuity get floated further down the line?

GLA

I think the ratios will be based on EV, but these valuations are still up in the air. Once the dust settles we’ll get to know but I hope there is more meat on the bone with the circular, hopefully with some reassurances or binding agreement details alongside which wrappers are applicable for newco shares. Also enough time is given to try and make an informed decision.

I’m sticking 100 per cent with remainco but I may be tempted with newco, however, I’m not getting younger and the possibility of further dilution in newco sometime further down the line is the biggest concern for myself.

GLA

GLA

At this time, does anyone have an idea/ guess at what the ratios for newco/Ingenuity shares versus remain on/THG plc holding (1:1 or different) & also the same additional renaincoTHG plc shard if they don’t take up the newco/Ingenuity offer?

Obviously will be in the circular, and dependent on personal circumstances and preferences, but good to start opinions and thinking, as now what some have wished for, we are nearing the end of the start of the break up process.

GLA

So true, and it’s fact! OxfordBull. So the mods cannot delete.

GLA

One is a minor player and no longer a major player in the industry, one underperforms, and one is not as good as they think they are?

I’ll let you decide which ;-)

GLA

Salt

THG

The Charlatans

GLA

I wonder what the Americans think of it, as it's nailed on Ingenuity will be listed there at some point.

GLA

If we do not take up the offer of newco/Ingenuity shares then we are granted further shares in remainco/THG plc with the resulting newco/Ingenuity share allowance being obligated to be taken up by others, mainly the large cornerstone investors or any other remainco/THG plc holders who want more newco/Ingenuity shares.

Any result of an additional take up of newco/Ingenuity shares by existing remainco/THG plc holders will result in their reminco/THG plc holding being accordingly reduced.

GLA

Already an entry on Yahoo for it:

https://uk.finance.yahoo.com/company/thg-ingenuity/?h=eyJlIjoidGhnLWluZ2VudWl0eSIsIm4iOiJUSEcgSW5nZW51aXR5In0%3D

GLA

Rizzel,

Fair point, but I think you are being a bit disingenuous yourself with implying the newco/Ingenuity fees will rise so much to impact the bottom line of remainco/THG Beauty & Nutrition. It's a future concern not an immediate one, plus all the major players in newco are likey still to remain the major players in remainco.

I'm a little critical of the deal and they way it's been shaped for the benefit of MM and his close pals/followers. But being a lowly retail PI investor, I've just got to hope that Nigerian princess arrives at some point.

GLA

So reminco takes on all the outstanding debt, circa 700 million GBP, but saves on the annual leases and Ingenuity Capex, circa 400 million GBP. A bit like the Government and the way they handled the BSP % increases v Winter fuel allowance cut i.e. give with one hand and take with another! It doesn't seem morally right that newco starts with no debt, but I suppose if you roll, that's ''potentially'' the sweetener until the likelihood there will be a requirement for further funding which will suit the large newco shareholder base and dilute any existing small private holdings further, again and again.

If I was a lowly retail PI investor, which I am, I wouldn't roll in to Ingenuity. However, it's likely that a genuine whale or two will be landed for newco post demerger, what's the betting on that?

GLA

Don’t forget Remain.co /THG will take an annual revenue haircut also, as that will now be paid to Ingenuity.

Where will MM priorities lie, with himself no doubt?

GLA