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GLA has to GO. Chair has allowed this complete and utter destruction of SP under his watch. The conflicts are laughable. And im moved to laughing at myself for still sticking with this! This has a Private Eye report written all over it.

And to think our Saviour MM bought Bentley Labs for $255m… more than half the current mkt cap. MM has to go. Yet he won’t - or be pushed. THG really needs an experienced and independent from founder CEO to get out of mess current team have placed it in.

We’ll get fleeced. Every trading update is a trap we fall for. If only I had the wisdom to walk away a swallow a massive loss (% and sum). MM a fool. But I was the bigger fool by a magnitude

It's all on 30th April update then. Here's to there being no stupid surprises (as there has been at every update for the last 2-years). I am so over-invested and down. Ave 95p. Have learned bitter bitter lesson to not keep averaging down. It's only ever dropped lower.

Sorry to repost. But interested in board views on fair value. This is where I get. On a price to FCF of 20 metric (FCF = £44m).

33.6p x (880/450) = 65p fair value.

Where do others sit?

Based on a P to FCF of 20.

FCF being £44m for RemainCo.

P = £880m; MCap = £450m

33.6p x (880/450) = 65p fair value.

Is that a sensible assessment?

Not using earnings as it can and THG do manipulate it a lot.

At Rizzell at StanleyB - this is why Q1 results so important we’ll get a view of things without Ingenuity. My concern is - as there always has been with THG - there’ll be some other exceptional / and or reason depressed earnings / FCF

@goldmanbaby1 - how do you get to a +£1 valuation? And when do you think it may transpire? Asking as most including me are not that positive and hoping you see something I dont.

We’ve all got addiction issues here. We know THG led by MM is bad for us. Yet we all stay in thinking it will get better. And then shocked when it doesn’t. I’m ave around 90p. I think I just have to write this off. Doesn’t mean ‘sell’ but assume it is not coming back. How did board turn down those offers : madness!

SP dropping because there is no confidence in MM.

Information points that will confirm/amend confidence are as below:

Late April : Q1’25 Trading update.

Late April : Annual Report & Accounts.

Late June : AGM trading update.

Late June : Results of AGM.

Otherwise it’s:

- changes in holdings.

- a buyer declares interest.

- sentiment (market noise).

- MM LinkedIn or other silly Comm.

MM alone has done more than any hedge fund to discredit the company and continues to do so with the blindingly obvious conflict of interest RE Ingenuity. That the market takes advantage of MM’s clear and obvious failings is the market : that’s what it’s there to do! Post MM THG has future. With MM it remains in purgatory. I hope (and therein lies my personal failing) for a post-MM future.

Late April : Q1’25 Trading update.

Late April : Annual Report & Accounts.

Late June : AGM trading update.

Late June : Results of AGM.

Otherwise it’s:

- changes in holdings.

- a buyer declares interest.

- sentiment (market noise).

- MM LinkedIn or other silly Comm.

It’s just casino money until trading update and/or strategy update. Roll dice. No skill. I mean … it’s worked for MM

Don’t think anything is happening. Triple witching. Clearing things prior to 250 entry. May get a nice 5% lift on Monday. I don’t see more. Step up in SP arrives with (a) good results - that will not happen… we know from nearly all previous (b) removal of either / both MM and GLA (c) offer. (b) is a non-starter until AGM.

Then BoD must remove CEO.

Decent results (in nutrition).

MM step down : ext.CEO in.

Bid(s) - beauty and /or nutrition.

VAT reclaim.

Share buy back (?).

Debt restructure.

Who knows?

When? At mo still an if.

Please, may anyone share a timeline (appreciate it’s all crystal ball gazing) for events / activities over remainder of year for both RKH, Navitas and FI. Am trying to workout newsflow.

At Yorek, didn’t the employees trust or similar have a large shareholding? In my head MM controlled that, his own shareholding and that of family trust. Sincerely hope (and in that word lies the issue) for a stepped SP rise. // Separately, at Pearls, it maybe the Sunday newspapers do not share your view -or- have tired of the circus that is MM/GLA leadership of THG… it’s been rinse-repeat for every update for about 3yrs now. Not one straight forward performance improvement. And so I guess papers are disinterested or wary of tipping something that has never knowingly not underperformed.

I guess they have no DL or req. to update after a given duration? So we are just in bureaucracy hands

At Icouldntcomment May you share your workings? And exceptionals… they’ll exist it’s just the quantum. I wonder if the VAT item was clutching at straws or genuine opportunity being piloted in.