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More I think of it the more it’s not on. Complete disregard for investor relations… I’m going to complain to IR … that’ll get nowhere but good to register upset. I wonder if Kelso (not that THG are at all bothered about them) would be a better vehicle for registering a complaint.

I’d like an update on sale process as a minimum on 25th.

EIA completion - Q3 (approval post consultation)

Resolution of OM -Q4 (?) / Q1’25 - ad hoc panel decision

Navitas update Q4/Q1 (?).

…

For me it’s more frustration. I know if I don’t like it I can sell (at a loss) and move on. But THG is frustrating. Communication is really poor and done through odd means … LinkedIn articles … it’s bizarre… not obvious Board engagement… it’s not much to ask for the company to simply be professional in updates, recognise communication is part of being a listed entity. For example not declaring sale value of Coggles… it’ll show up somehow at some point … why not simply share upfront… very delayed strategy update… why not acknowledge that… investor relations don’t respond… why have them then?

100p is feeling a long way off. Hopefully we get a strategy update soon and positives on nutrition and beauty. I’d like to know more about the Frasers deal. I’d like to know more about where Lord CA sees things moving. Separately, concerned for the silly level discounting (appreciate its optics) that you see on myprotein products.. in my view it devalues the brand.

Any thoughts… hoping for value retail sale soon

I think we have to wait until September trading update for meaningful information on performance… and then a move up (hopefully). Concerned about sports direct partnership… and that it maybe heavily favoured toward SD. There’s not enough detail on it. Makes me suspicious

Trading update? Improvement from Nutrition with Japan / India currency movements clearing. Bonkers style sales from Frasers in store. Sense SP in doldrums because Exec aren’t focussed on it (nor would it appear are Board) in which case I’d welcome their being clearer what they are focused on via a strategy update.

I’ve been thinking of topping up. Trends are positive. I think their portfolio better now.

Hopefully provides a boost to SP. But what would it take for SP to get back to 200’s or 300’s? In my mind its buyout or separation -but- could it incrementally get there on positive macro + being in + cashflow? As in could there a fundamental re-rating by market and what would cause that? A strategy update would be helpful

I’m thinking OM *must* FIN this year (within next few mths). And who knows for the FI stuff.

No board oversight / action. Silent

I agree product placement of MP in supermarkets borders awful. Placed with others in a commoditised fashion. No way to differentiate, upsell, commit into a range. TBH better not to stock in supermarkets if this is the approach - devalues brand and I can’t believe it’s bringing much in. Very concerned at MP product placement. Separately, if it kicks off in India with demographics and growth prospects then could be a massive contributor.

Agree absence of strategy update (or any statement from the Chair) suggests LCA is not driving the Board / Exec. Sadly reads as if it’s still a MM party. I’m at a loss as to how SP will rise. Is it going to be a grind of YoY slow progress or will there be a moment? Sense moment is a new CEO but MM won’t allow that. Or separation that’s so over flaunted it’s old news

Perhaps why Vivek left?

No SP move however

Monty good point well made. If one accepts it, then value will not unlock for many years. Further, there’s no effective ‘check’ on MM. I’m heavily invested too. I guess value may arrive via publicly disclosed bid or eventual MBO. Or heaven forbid a strategy update.

Sadly you are most likely right (or some form of right). Last year’s guidance to results did not match receipt of them and as such broke confidence. I’m expecting subpar beauty performance, good nutrition and complete pot luck on ingenuity that hoovers cash but never returns any.

Oddly blinks presents the problem well. No one can easily imagine what the SP could be in a few years hence it is what it is today. Synergistic value of all divisions unclear. Whether ingenuity has much value is an open Q. The effectiveness of governance with a founder CEO also unclear. So much uncertainty gives current SP. A run of trading updates that match guidance would be a good start to gaining credibility

Im not sure whether this is RNS worthy? Doubt it’s mandatory. Im keen on Jan update for Q4 performance. Jury is out for me on Beauty - often underperforms market : hoping margins in this division come back strong. // separately would be good to have a governance update, hope GLA is well - if not who is Chairing, it can’t be MM.