Member Info for CheshireLad

A sale of a business park owned by THG boss Matthew Moulding, which also houses the ecommerce group’s headquarters, has fallen through. The ecommerce group, which runs websites Lookfantastic and Myprotein, is a tenant at Icon Business Park in Manchester, ultimately owned by the THG co-founder. Moulding Capital Limited had been in talks with property company ICG Real Estate to sell the business park but no agreement was reached, according to two people familiar with the discussions. For a transaction to proceed, a prospective buyer would need an approval from Warrington Borough Council to novate a £128mn loan. The Icon complex is used as a security for a £128mn portion of a £202mn loan the Labour-led authority gave to the group of companies controlled by Moulding in 2020, according to official documents. In July, the council cabinet initially approved a potential novation of the loan to ICG, which subsequently did not proceed with a deal. The approval was criticised by Conservative councillor Mark Jervis, who said the cabinet had failed to properly scrutinise “flawed and erroneous arrangements” it had made when it looked at the novation loan. “It is time for Labour to reduce its enormous debt mountain,” he added in a press release earlier this month. “The Labour cabinet is totally ill-equipped to make decisions on this debt.” A Warrington Borough Council spokesperson said: “Cabinet approved a potential novation of an existing loan. However, for this to work it required the agreement of the council and two other parties. These agreements were not reached and therefore no novation was required.” “The change is simply a movement in the commercial view of the interested parties, and not a U-turn,” they added. Recommended News in-depthUK local government finance Financial ‘jaws of doom’ threaten English councils as cost pressures mount THG, Moulding Capital and ICG declined to comment. THG is unaffected as a tenant by the sale to ICG falling through. A sale to another party could still materialise. Over the past decade, UK local councils have made large investments in a variety of commercial ventures, often taking on significant debts, in an effort to shore up budgets hit by cuts in central government funding. The pressures on councils were highlighted last week when levelling-up secretary Michael Gove announced that he would appoint commissioners to take over the day-to-day running of Birmingham city council, after the local authority declared itself in effect bankrupt. Formerly known as The Hut Group, THG was hailed as a future star of the UK tech industry when it listed with a valuation of £5.4bn in 2020. However, a string of profit warnings and concerns over its corporate governance have blighted its life as a public company. THG has beefed up its board and Moulding has relinquished the chairmanship and his “golden share” rights in an effort to ease investor concerns. Moulding has often criticised what he

Matt would probably say it was the naked shorts.

#saleornosale

GLA

SOS SOS SOS SOS....CALLING KELSO........SHOW YOUR HAND SPARTA..........MAKE YOUR MOVE INSTITUTIONAL INVESTORS...........MATT OUT......MATT OUT.....MATT OUT......MATT OUT......MATT OUT.....MATT OUT......MATT OUT......MATT OUT.....MATT OUT......MATT OUT......MATT OUT.....MATT OUT......MATT OUT......MATT OUT.....MATT OUT......MATT OUT......MATT OUT.....MATT OUT......MATT OUT......MATT OUT.....MATT OUT......MATT OUT......MATT OUT.....MATT OUT......MATT OUT......MATT OUT.....MATT OUT......MATT OUT......MATT OUT.....MATT OUT

#mattoutmattout

GLA

Ok Mattychild you'll get a come back from me, not a rise!

You know nothing of me or my reasoning behind my rant. I do believe Matt has a plan, but it's one that is beneficial for himself. We all know a low bar is of intrinsic value to Matt from a personal perspective, and that is the concern for genuine long-term holders like myself. I drive past the old Northwich THG offices (I don't live in Northwich by the way) most days on my commute when I'm in the office, I have ex work colleagues who now work for THG and I personally work in a finance orientated part of the WG business, so have a good understanding of why Apollo seen value in WG, and apply that same reasoning with THG, however that reasoning was built up long before Apollo approached THG. What's not to like about championing and backing a local success story, so due diligence was done years ago, insight is gained from ex work colleagues. The business as a listed company is fundamentally undervalued, that I do know, and I'm not happy about that. It's true that I've dipped my toe again today and will continue to do so based on my understanding and analysis of the wider business and markets THG operate in. My partner is a DevOps Functional Architect & ERP specialist, so I know plenty, I'm just unhappy with Matt. If nobody is going to hold Matt accountable for destroying shareholder value whilst being self serving for himself, then I think I'm allowed to have a pop. Based on my investment plan I was intending to hold for another 18 months anyway, and after today I have no reason to change that plan and due to Matts total disregard for ALL shareholders, it will undoubtedly be rewarded one way or another, my average is luckier than most. I'm a simple person, with simple values, but expect improvement in my investments and when they are artificially being played about with, due to either an ego trip or ulterior self-serving motives, that is not morally correct or to be expected from a CEO of a listed company.

#putuporshutupmatt

The phrase “a leopard never changes its spots” springs to mind.

Something will have to give over the course of the next 6 months, either from Matt or externally. I would be very surprised if the sands were not already shifting before today, and now the 65% or 35% percentage will have changed, at best for Matt it's now a 50% split, Matt and Gary Neville deserve each other, great ideas but hypocritical, talk nonsense half the time, believe their own hype, and are poor managers.

I've lost faith, there is only so much you take as a long-term shareholder, the THG story is compelling, it's just Matt cannot pull it off. The last chance saloon has been and gone, and those concentric circles are widening between Matt and EVERYONE!!!!

I've spent the last few days in the City and they are unforgiving when their investments are on line. They are coming for Matt and they will want their pound of flesh, Matt doesn't have much flesh on the bone to lose, so I think they will just take everything, we believed at times there was a coherent plan, now it appears there is none (I thought as much, but wanted to believe), and with that , no defence for Matt, absolutely shocking day, communications unforgivable, disrespect and disregard for ALL shareholders, a plaything for himself, and by default playing with everyone else, but without any recourse whatsoever. Matt you gave it the biggen, but now appear small and very vulnerable, pathetic!

#putuporshutupmatt

A little dig at the Sunday Times also.

#sunsoutgunsoutmatt

GLA

App looks good, reads well, a few features, and not overly complicated, it's exactly what's needed for the commute and review of news at the end of the day.

I'm in London the day of the results, so will be an interesting read and hopefully a impartial narrative presented. But we all hope for a much better set of results, the only concern like others is Beauty, however, I'm optimistic for the future with Beauty, it may be flat this set of results with the other divisions, hopefully, taking the limelight. A £1.2 billion revenue division has "value" whatever way you cut it, literally IMHO.

#happyreading

GLA

FYI: https://www.thisismoney.co.uk/money/investing/article-12448005/MIDAS-SHARE-TIPS-John-Wood-Group-carve-place-portfolio.html

GLA

FYI: for a bit of balance:

https://www.oilandgasmiddleeast.com/news/adnoc-close-to-awarding-500-million-contract-for-major-carbon-capture-project

GLA

Could be PFC though, I'm happy either way holding both at the moment.

GLA

All Matt has to do is buy another large chunk on the open market, subject to availability, and, at this time, that in itself one would hope start the fairer value process being realized. With the results due I suspect, unfortunately, he will be in a closed period, but once the results are out there, he should be available to buy, and who knows instigate an MBO or part/full sell off a division. I don't expect anything before the results, that window of opportunity which we were discussing over the past few months is over. Hopefully in September we'll start to have a better idea what's going on, because something is definitely brewing!

#squeezethemmatt

GLA

I've had another nibble, couldn't resist the price, happy to keep building as we move towards the further confirmation of the TenneT project et al ;-)

GLA

FYI: https://www.woodplc.com/news/latest-press-releases/2023/wood-to-design-the-future-grid-with-national-gas

GLA

Great find 1p, and overview of the way the general world of commerce is now changing, whether that be forced change away from historical value/wealth creation sectors i.e. fossil to sustainable/ESG, the trend is your friend as they say.

I'm big in my workplace pensions for ESG, I've gone early and big hoping the compounding effect will reap big benefits in 10-15 years. However, not purely because I believe in the narrative being pushed, if anything coming from a fossil industry background I'm skeptical of the reasons, but not the motives, I'm seeing huge industry changes, which I'm sure everyone can see for themselves even if not embedded in the fossil/renewable sectors, the sand is shifting beneath our feet, and THG are well placed to play a part and benefit from this cultural change.

IMHO we've already seem the 1st wave of sustainable/ESG fund greenwashing over the past 5 years, a bit like the original dot.com tech bubble. I'm anticipating in another decade we'll truly have the 2nd wave and coming of the Sustainable/ESG sector which will be dominated by familiar behemoths we have today who will have fully transitioned (very modern in-word at the moment), along with a few other names we've yet to know about, and who are not even present as a company today. It's a brave new world as we move towards a new type of industrial revolution, as always there will be winners and losers, and definitely Apollo saw THG as a winner in that respect. I also have it on very good word that's why they were interested in WG. for the forthcoming carbon capture boom. Whether you believe the hype or not, sustainability and ESG is now an unstoppable force, and it's where the future wealth lies, both for business and individuals. Our current standard of living, whether you like it or not, is built on Oil & Gas, whether directly or indirectly, and the change away will not happen unless the same wealth can been gleaned from sustainable/renewable ESG related businesses.

#cityamcanprintthis

GLA

They may not be fantastic, but so long there are no bad surprises, steady as she goes is fine by me for the time being, a bit of consolidation never hurt, although all things being equal regarding what WE know the SP should be a minimum a £1, it's a hard fought battle to get there, but there we will get. It might not be this week, or next, or this month or next, however rest assured we will move up. I'm happy to keep buying at different levels when we settle, and will continue to do that as long as there are no rapid movements up, but I'm like Mav and thinking its being held for so long for what appears a few different possible reasons one of which a private approach has been made or rebuffed and/or a position is being built, again for one reason or another. It all points to an acceptance that being long is prevailing and wins out, this will officially be confirmed by any disclosure of an approach or when the TenneT awards are officially rubber stamped and the news drops.

I want to build a larger position than I already have, but happy with what I have if news does arrive and I cannot therefore keep building. This SP is a crazy bargain for those with deeper pockets than me, even now as it's acknowledged sector sentiment is turning, it could literally be life changing for some, better for longer term higher average holders, if you can see the wood for the trees and don't mind having a decent size position for a year or two, that's if no major capital event comes along sooner and takes the investment decisions out of our hands?

GLA

Henderson lives in Knutsford, well he did until recently. Just down the road from Hale, seen him a few times along with Van Dijk, Milner, and Thiago.

#onwardsandupdwards

GLA

Joke, lighten up, take a weekend off.

#squeezethemmatt

GLA

The option that was missed, is Rock thinks we'll go bust!

#onwardsandupwards

GLA

Might up the average tomorrow, pay day tomorrow and a 20% one-off bonus due with work.......oh what to do with it?

#topupordiverse

GLA

Ditto, average 67p, on paper I'm mortgage free, but here for another 18 months or so (end of 2024) or CE if taken out of my hands before then?

#onwardsandupwards

GLA