Member Info for CheshireLad

Nobody should read too much into it and make knee jerk reactions.

However, my take has always been on the conspiratorial side with the range bound activity being driven and set by MM's de-merger decisions price alongside his own large volume buying prices i.e. effectively setting the range between 30p-50p.

Based on this and with no traction upwards in SP (for a long time) but with the business obviously improving that it's going private and some point and the current status quo suits MM and any of his other larger holder hangers on and/or undeclared concert party buddies?

When, and if, in the short-term the VAT decision changes the status quo, who knows?

What I do know is that I don't wish the status quo to.....continue......

It's the very last word on Matts recent LI post that worries me:

"Like my 3 boys, my work kids are in a great place at the minute. Long may it continue......"

Long may it continue.....???????

If Matt wants this back he needs to get a wiggle on. Range bound between 30p - 50p, surely cannot stay at theses levels we've seen over the past year or two for much longer, albeit the various wars are hindering private investors but helping the large holders.

He's built in the same mould (pun intended) as Trump, he just can't shut-up, just to say he, his kids, his Mum, his THG babies are all "Tremendous", "Beautiful", implying he is "Great" and anything else is "Fake News".

LinkedIn Post from yesterday:

THG's Q1 2026 trading results are out this morning

On a personal level, it feels like one of those rare moments where all the kids are in a good place at the same time.

None of them are perfect — but they’re moving forward, figuring things out, and enjoying life.

It rarely lasts forever, but let's enjoy it all the same.

Parenting worries never end, I see that with my own mum. Not once have we talked about it, but I know she's been worried sick about how I've been coping running THG the past few years.

To be fair, we haven't had to talk about it, she's made her feelings very clear direct to some of the most toxic protagonists - calling out journalists she saw as fabricating stories and personas just to make a few quid alongside certain banking and hedge fund circles.

I only discovered months after buying the newspaper in 2023, that City AM awarded my mum "Mum of the Year" in early 2022 for standing up publicly. It made me chuckle.

A great-grandmother in her 70s, taking on people half her age — and not backing down. Some even tried to ridicule her - clowns. Go mum 🥹

The exam results for my "work kids" are in, and I'm like a proud dad at parents evening.

THG PLC's Q1 2026 numbers: 🙌

Group revenue of £393.1m, +7.0% growth

💪 Myprotein revenue of £159.8m, +8.8% growth

💄 Beauty revenue of £233.3m, +5.8% growth

Momentum building across the board.

Like my 3 boys, my work kids are in a great place at the minute. Long may it continue......

Possibly the update has landed tomorrow due the US/Iranian deadline due to expire tomorrow evening, before it all kicks off again?

Tomorrow will either be a good day to watch the SP start to climb to a level more befitting the sum of parts? Or will it be a good day to bury bad news, I hope for all our sakes it’s the former, good luck for tomorrow.

Flippin auto spell, should be ….relying on the potential

A good day for once, but goes to show and reinforce my argument yesterday, how easily we are all pleased as we’ve been conditioned to accept Matt and the BODs poor decision making since IPO. Relaying on the potential VAT refund to bring some light relief and distraction of management decisions does not hide the fact the same individuals are there making decisions, a VAT refund will not change their thought processes, but instead will be used to hide and conceal their failings for a period of time.

Even 1pencil is coming round to the idea about farming 😜. By the way 1pencil what function do you work in at THG….Finance, Accounts, Treasury???

Nevertheless, a good day long may it continue, I may even break even and be in profit by tomorrow.

In hindsight my average at a tad over 37p is just fine thank you. I’m more than comfortable with my decisions and grateful that because Matts management has been so disastrous I’ve been able to average down so much, however, I would’ve preferred my average be £2 and the SP being £5 or £6 but someone and the ineffectual leaders at THG made very poor decisions based on no genuine risk management, those are the individuals that should be looking in the mirror, not me, my conscience is clear.

I’m happy to wait a little longer, nothing comes easy in life, it’s those with a higher averages than my own I feel genuinely concerned for, and that relates to friends and former colleagues of mine both of which have spent time working at THG including within the farce that is Ingenuity.

If you think over a billion was better spent and diverted to Ingenuity rather than being invested in Nutrition and Beauty, then there is no help for you.

I want THG to succeed and at the moment we may be at a new inflexion point and see a change in sentiment, but don’t fool yourself that over a billion directed to Ingenuity was money well spent, if so please show me the benefits of that investment as I’m currently not seeing any after the last 5 years!

Matts eyes lit up when rumours were that he could be the UKs answer to Bezos.

He left the rest of the company greatly more exposed to market forces and the dynamics involved. Hindsight is a wonderful thing, but leaving the cash cows (no pun intended) so vulnerable to those market and macro forces was a huge error of judgement, but when using other people’s money Matts moral hazard and compass never flinched. It would’ve been much more savvy to insulate and mitigate Nutrition and Beauty to market shocks and macro black swan events, but Matt had tunnel vision and the derisory margins they are making now show proof the folly of the UKs Temu Bezos decision making and a shockingly and limited thought proceed for one that puts himself on a pedestal, but that’s what narcissists are like.

Agree, I’ve said it before, but someone’s ego got in the way and wanted to be a tech entrepreneur rather than a farmer.

Others might disagree but for THG at the time Ingenuity was a bad decision, I see the business case value but still not convinced on ROI. The market was drawn in at IPO and unfortunately it was to major detrimente of the other two divisions which required economies of scale a lot more urgently than a D2C model delivery service cutting delivery times by a day or two. In the grand scheme of things customers will always favour quality of product over cheap delivery. Ingenuity just didn’t work in the end and didn’t provide the added value to the whole business that was supposedly perceived at IPO. At least Matt has used the IPO money to build something that he will personally receive a lot more added value from mere PIs.

FYI: Bullish not not as much as I want :

https://simplywall.st/community/narratives/gb/retail/lse-thg/thg-shares/db9u8qnt-thg-share-correction-and-index-addition-will-drive-performance-recovery/updates/12-analysts-have-adjusted-their-price-target-on-thg-to-pound055-pe

I would like to think that if and when we see other directors buying, that will be the starting gun on the journey to some kind of much needed capital event?

It’s more a hope than anything, would love the BOD and our maligned CEO to prove me correct. However, I understand it is usually the hope that kills you!

There used to be certainly one Barron that would know what’s going to happen. Happily playing at being a nepo oil trader extraordinaire. All good and easy when you have inside information and you know the way decisions are being made. Better still just be a CEO and engage in a concert party, it’s the same outcome!

I believe debt is key, and agree the sooner it’s cleared the better.

Hopefully we are seeing a natural chain of events taking place over the past few years which will culminate in the requisite capital event? What that looks like at this time who knows? I’m sure being the narcissist he is Matt will be wanting to see it through to the end and he’ll want to make sure his staff are looked after and if a division or both are sold that any prospective new owners will be a good fit. If on the other hand he wants it all for himself and a few trusted hangers on, then he’ll likely have to move abroad to a safe “tax-free” haven, I should think the SFO might not be far behind.

With the golden share gone, the demerger (nobody is having his baby), land sale, and then debt gone, plus the 2 year transitional services agreement ending within the next 9 months, things are hopefully coming to a head.

Don’t forget the Mars Hotel Chocolat acquisition:

Key Details:

£534 million (cash offer of 375 pence per share).

Strategic Goal: Combine Hotel Chocolat’s premium, ethical brand with Mars' manufacturing and distribution capabilities to scale quickly.

Management: Co-founder Angus Thirlwell continues as CEO; co-founder Peter Harris retires.

Operational Structure: Hotel Chocolat is planned to operate within the Mars stable of brands.

Background: Following high growth, Hotel Chocolat faced financial pressure and operational challenges in international expansion, prompting the search for a partner.

Matt surely needs to realise he/THG cannot take MP to the next level, it’s hit a ceiling so what is he going to do about it? The same thing applies with Beauty

He should sell both to the correct custodians and release both sales on or thereabouts the same day to leave the shorts and haters high and dry, then walk off into the sunset in that tax-haven not having to look over his back.

For context I’ve added roughly another 10% over the past 2 trading days to bring my average down a little, now at 38p.

Hopefully the GC scenario and not the one W4C fears, as we all do.

You wouldn’t put it past MM to offer paper after himself turning down part paper from the supposed Selkirk offer for MP not so long ago.

A MBO on a pure cash offer basis would suffice on the right terms, which has to be fair to all, not lopsided in favour of the concert party!

I think someone must have put in a large buy order around 30p before they are in a closed period...perhaps.

Happy, spot on.

Matt would give with one hand and then take with another, as we know he has previous for this.

IMO any VAT refund, as alluded, will/should pay down debt. Obviously I wouldn't turn down a dividend, but would prefer debt to be paid down a.s.a.p

Something that doesn't make sense was the last call when Matt stated something to the effect he didn't know if they made any money/profit, but miraculously now it's shown in black and white a short while later.

It's that kind of deliberate inconsistent message as to why the city doesn't trust him, the Elephant in the room.

Jam has indeed arrived......hopefully the scone and cream will arrive at the next quarter update.