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Made a small top up today. My minds eye rationale is results are good = SP uplift. Results good (and headwinds) = SP static small uplift. Results bad = maybe SP static - why? Because it makes activist investor action / buyout more likely. In my minds eye May bank holidays + better footfall in airports must have made a +ve difference. Fingers crossed

Sorry - completely missed it. I tend to go straight to reports… silly me - and thank you.

At Odsal, please where did you find / estimate that date from? In my head next update would be September (interim results).

Exiting at IPO price would be poetic and a little classy : unlikely though. // I just hope next update meets guidance.

Agreed Rock8 : if proceeds from property sale are used to buy shares then MM is both sending a signal and improving the position for that signal to be realised from.

Thanks for the short squeeze message manifesto. And reading all the rest today. The ‘action’ for me is - sit tight and wait. Maybe pop to Iceland for an ice-cream, otherwise wait. Looking forward to Sept results (fingers crossed in line with guidance) or a surprise before. Interesting 9 weeks ahead of us

At manifesto… I’m not well versed in shorting (understand principle, clueless on its skilful practice). What is suggesting there is a short squeeze in play or pending please? Is it simply low volumes : I note average vol. is circa 10M / day and last wk Vol was incredibly low (albeit strange with 4th July) and wide spread. If shorts were trying to close quickly then in my head SP would lift to allow them too. Separately I’m guessing most shorts are in significant profit given SP performance over last 2yrs and logically if it’s sensible to close a position, then close it : but subjectively there may not be the same urgency to do so. My view is shorts aren’t really wobbling the SP : it’s more up in the air due to past performance and missed guidance : if that changes then confidence may come back very quickly with rise in SP. Of course I’d love an out of the blue banging offer (400p+) from sovereign wealth fund or similar

Those who own LIV might buy THG. Or another sovereign wealth fund. Come to think of it myprotein should do an up market golf range : sponsor a player

Or no plot. Move through until interim results. Hopefully they are the first set that are good, in line with guidance. I’m okay with a steady Eddie ⬆️ in SP - just want some consistent performance.

Yes I agree Spades. It’s more that I expect they’re probably primed to make an offer but will only do so once they have a bit more confidence in RTN and/or clarity in everything else that’s going on. So it leads me to think post Sept interim results. Running against that very argument, August would be a good time to launch a bid - whilst comp are off on hols etc.

Licker I’d take 560p now. Would be a game-changer in life lookahead : oh to not have to rent… bring on 560p

I’m even around 104p. Quite overloaded on this (did so to ave down). Would be very happy evens and it bobbling around there for a while. Bring on September results.

If QIA buy MU I can see them also buying THG - I know there’s absolutely no business link or logic. But all these sovereign wealth funds are trying to demonstrate there ability to help with regeneration, foster business etc. THG and MU as QIA assets makes some sense

Not sure MM will buy more shares with proceeds : already has enough. Giving this up as well as golden share does clean this up for an external offer or window for external offer before a potential MBO.

Im not sure what the incentive to ‘go’ early on a buyout / takeover is (unless there are internal reasons at the prospective purchaser) over waiting until Sept. SP may lift on good results but that’s also a validation of buyout rationale and buyout price probably above the SP lift (if results are good) : so probably best to be stalking the business

At manifesto - trading update is only a half-tick. Given history best to wait until numbers are shared … Sept I guess

At Spades I wonder if this happens after interim results (Sept) or whether someone bites the bullet and goes early with a bid. I would expect trading to be good. Competition poor. B&P should be smashing it in this weather. Concessions (airport) big Summer ahead. I think B&P might do surprisingly well.

Mkt cap of £1BN is an SP around 120p. For such a rerate in 6 months there’d have to be an offer (my view) I don’t think it happens incrementally (that quickly) - Brunning & Price sale would be fab -but- I expect it’s doing really well, with weather etc. so who buys it at a price that suits RTN - not many in market. I guess RTN best gets value over short/medium term with PE buy-out and break-up

We forget (in part because we may want to) that the last set of results were awful. Awful without warning when indications were they’d be good. Boring as it seems the next set of results simply need to align to statement made on morning of AGM. Upon doing so, then there’s more evidence THG is undervalued and that evidence is available to all : cue a revaluation. Bring on September.

I think we’ll drift sideways until interim’s in Sept. Annoying as could do with being a more in vogue stock