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Out of interest investor95 was it on sale at the event

Tall ask esp. MM out of headlines 🤣🤣

• VAT rebate confirmed — £78m from HMRC, decision due imminently

• 2026 EBITDA hits £101m — must meet or beat guidance, no misses

• Free cash flow delivered — £25–50m, first time in listed history

• Net debt falls below £50m — accelerated by VAT rebate landing

• Myprotein offline expansion works — 40,000 doors driving sustained revenue growth

• THG Beauty stabilises — needs to stop declining and return to growth

• No revenue warnings — any miss resets the share price to low 20s

• Institutional investors return — needs 2-3 major funds rebuilding positions

• Moulding stays out of the headlines — governance concerns must not resurface

• Macro holds — consumer spending, whey prices, currency all need to cooperate

Having asked AI

Too far for me. I wonder if all the employees with gifted shares attend. They must be feeling awfully put - as we are - with SP performance

Silly me.

1.00 p.m. on Wednesday 24 June 2026 at THG Studios, 7-9 Sunbank Lane, Altrincham WA15 0AF

When is the AGM

Here’s to a sustained rebound - I’m average at 68p - and overallocated

Fingers crossed for BT rebate then

Of recent tank in SP 40>30 : would there be anyway that HMRC VAT appeal leaked in some way - as in is that possible / does that happen? For in my mind surely it would either tank or boom immediately after that

Protest items:

- full time CEO at THG (not also at ingenuity).

- transparency on THG x Ingenuity contract.

- route to growing margin from focus on rev.

- route to debt reduction.

- explanation of previous ‘misses’

- steps to raise SP

- timeline for 1st dividend subject to xyz

How is the 100-150 as takeover offer arrived at?

Long has passed since an offer of 170p was spoken of. The SP reflects the BoD and CEO who’s almost CEO of THG’s major client and majority owner of both. The conflict is epic. The depths the SP dropped Mariana Trench like - and we the plankton hang on. Bottom of the food chain is where we are and how MM views us

Would Glanbia buy MyProtein? I guess MM would not allow a sale. And BoD are not independent

VAT win

Sale of parts

Margin uplift through prices (or retain VAT margin)

Offer

The issue is margin. Can THG pivot from a volume/revenue bias to a margin bias when presumably Ingenuity would prefer status quo. Make that transition and THG is undervalued by multiples. But the appears to be no inclination to move in that vector.

My ave is 70p. To see that this year would be bliss

Never fails to disappoint

Good FT article on THG VAT claim. Doesn’t look so clear cut.

The issue for Vistry will be rising build costs (consequent to global events) and fixed sale price for the RP transactions. Margins will continue to squeeze.

Requires a strong CFO and Board challenge; esp. on margins -vs- volume and conflict within the latter whereby CEO can trade 'lost' margin in THG for 'won' margin in Ingenuity. One might argue that the public listed company is being milked for private company stability and returns and the NED Board members, esp. SID, are either absent or unable to exercise good governance. Sadly, THG is a couple of corporate decisions ((a) skew more to margin and (b) better communication) away from a good growth trajectory (in SP) yet an ocean away from employing a CEO that will perform the role of CEO on behalf of the BoD and the shareholder spectrum. Tragic for it obvious, avoidably and now entirely predictable.