Member Info for Ephemeral

We’re all waiting for Apollo

Well put 404x. Someone in exec / BoD should have checked MM : maintained prices. They failed and so allowed MM too. And here we are mid 50p

That there are fewer (to no) Linkedin articles suggests either a directive has been made by BoD -or- MM is less bullish (wind not in his sail).

At 404x, the nutrition rebrand has temporarily pushed out the moment THG becomes free cash flow positive. Once rebrand completes in 2026 THG will be free cash flow positive ahead of a 2027 rebrand.

GLA commented:

Commenting on today's announcement, Charles Allen, Lord Allen of Kensington, Chair of THG said:

"THG's Board, in accordance with its fiduciary obligations and as demonstrated with its recent engagement with Apollo, will always give due consideration to all potential options which provide the opportunity to maximise value to THG's shareholders. The Board remains fully confident in THG's strategic direction and long-term prospects as an independent company. As stated in our recent results, with a strong balance sheet and category leading positions within substantial global end markets that continue to benefit from long-term structural growth, we have confidence in our ability to deliver long-term value for shareholders and remain on track to be cashflow positive in 2024."

How does MM face going into a Board Meeting. Nutrition : we continue our 13 month rebrand of packaging.

Not yet appeared in my Barclays account. Admittedly they are awful.

This is the point moniman... THG has been poorly run by BoD and Exec and Kelso were, in my opinion, correct to vote against the reelection of the Chair, GLA, for he has not provided the leadership or effected the accountability that one might expect from a PLC. To put MM out, as they did, with almost no preparation -or- instruction to delegate Q's to what might be a more capable team around him is the tip of the, light-touch, iceberg that GLA has presided over. The sooner A.N.Other arrives with a bid for all of the THG the better. We should not have confidence in MM enacting a demerger well. There will be a dilution in value, -vs- buy-out, consequent, I would suggest, to MM being completely out of his depth. I am holding and would welcome an exit above 100p soon. Anything over 250p would be life changing.

Yes I’m a bit moniman . Well done. Or I’m a long term shareholder pointing out Exec / BoD are not performing and possibly venting a little too much. Sorry

Nutrition results will likely flop in Oct. MM said as much on call. But Yesimabeliever - take your point on judging success over long time frame. Both possible to do that and be critical of management of nutrition over last year : could and should have been much much better.

Unhelpful Cong. It’s a message board. It’s okay - good - to point out where Exec / Board are not performing. And they really aren’t on Nutrition. Wish they were. I’d welcome a new Nutrition MD and FD : current have not performed - results show that - in what is otherwise a big growth sector. All the infrastructure is there. But currently not the management competence

In all seriousness how are the Board accepting such poor Nutrition performance. Surely Exec can’t be citing ‘rebrand’ as the issue 12-months running. Surely BoD are asking what else is going on?

When you put it like that Steve Scott it is very very concerning. Old packaging can’t have been worth that much -&- they won’t have had that much (an entire years worth) pre-made - if they did that’s very poor planning for a rebrand. It’s all excuses from MM.

“Why didn’t they just destroy old packaging before filling with the product? Fishy”

Oct update likely to be poor - with no improvement at nutrition - at which point THG (MM) will be using the ‘re-brand’ excuse for an entire year (employed in the Oct’23 update). Im flummoxed at how poorly nutrition has been run. Could have hedged FX. Need not have maintain price as raw costs rose : insulating consumer but exposing shareholders. Rebrand must have able to be completed more quickly. Constant massive discounting devalues brand. I am heavily invested so want an uptick. But - MM or ANOther need to accept responsibility for subpar performance, own it, communicate and move on (perhaps with different personnel). The latent benefit of all above is surely that Apollo other PE see it as an easy fix and will bid accordingly

Why would anyone offer that much with SP where it is.

Here’s hoping Apollo coming visiting again (publicly).

Out of interest has anyone ever received a response from THG investor relations. I've never even had an email response acknowledging receipt.

As you tend toward zero there becomes less and less to short. How did it all go so very wrong. Had MM only employed a CEO and stood back as an owner. I'd have a home by now

SP c.70p 1yr ago / 117p May-23 / 548p 20 Sept-21 (before MM’s capital markets day). Currently sub 55p. What have the BoD contributed? IR don’t even respond to polite reqs. Absolute farce. New Exec and this must re-rate c. 100%

Ditto. Not impressed