Member Info for Ephemeral

Embarrassed to share I bought a small tranche at that price (and was briefly up!). 600p a mountain away

I must say I was surprised at the extent of the loss in the trading update - I didn’t see it coming - if that is all emanating from non performing F&Bs Chqtos then there is, if not criticism, a fair case for the Exec to answer I’m not exiting such more quickly. I’m unsure whether to top up or not now.

No enterprise. Just gradual dividend death dance of dynamic companies that once were. It is a graveyard.

This doesn’t sound great : Statutory loss before tax of £86.8m on an IFRS 16 basis (2021: loss of £35.2m).

Great if so. But tenuous and Occam’s razor normally wins out.

At 101 that is very insightful. Bravo. That would make sense (might not be right) but fits the pattern.

PS starting to have hope I might get back to my 110 ave. And to think two Christmas’s ago I thought I was shrewd buying in at 230 (!). My sense is if we lift well hockey stick (or maybe that’s my hope).

Great week. Yet and I’m being a Cassandra here, let’s wait to see if any of the whales are actually real : THG and MM have flattered to deceive on so many occasions it has been the MO (and does them and shareholders no good). I would be more interested in a part sale of say nutrition to a.n.other with agreement for ingenuity to continue provide services and to extend those, progressively across the acquiring entity’s remaining businesses.

Yes plenty to do but we’re not in the driving seat; Navitas are. Hoping they don’t muck around as a lot of that kind of work is already down. I would be pleased to see an announcement from Navitas / FI on intent to upgrade port, move to next stage of production -but- I don’t know when that comes or why it would be in either of their interests to announce it early (clearly RKH could do with news flow, but for others probably better to keep it on the down-low). Separately frustrated on ICSID process and delays : it would be good if the Court could see Italy tactics for what they are : delay and frustration and simply throw them out. I don’t hold hope on this.

Well said. Leisure side at risk from fight of the mediocrity. Where able exit or convert into Wagamama opportunities. I think concessions at airport will be okay as from memory there’s a link between passenger numbers and rent so some risk-share. Where I’d like to see additional focus (and I mean additional not diversion of existing resource) is the international franchise model - I think this has good growth potential and probably starts to make RTN more attractive as a buy-out - ultimately I think that’s where we’ll end up and I’m hoping it’s around the 150 mark (not much science in that - more a feel given SP breaches 140 not that long ago and to my mind business is in a better position now albeit in a challenging external environment.

NoW just under 10% down. Bring on results.
Was at a Waga last week - busy (not ever seen that one not).

I’m not sure anything does. Not as if market will go - oh we got this wrong. Surely it’s an offer for part -or- massive massive deal for ingenuity…. The never ending tease!

I think Oasis a little impatient. So far I’ve been impressed with Exec / Board. (Albeit I’m 20% down).

Such strange times. If there was stability I can see many trying to steal a slice of the pie here -but- at the mo my sense is we all working out what an earth is going on in our never ending poly-crisis -&- with that some that would aren’t willing to take risk on THG -oh- to have the last six years again … imagine the choices we could have made.

Good list of +ve’s crafty, thank you. Tempering it somewhat what THG doesn’t do well is meet guidance (last update) and guidance for that matter on corporate actions, e.g. Chair’s review / strategic review / governance amends etc. my hope is this will come at end of year results when we can also see the BU performances more clearly. I’m 50% down (at this level) so hoping for some improvement over a year.

I agree spades. But I think that bodes well. Had earnings be so-so they would have got them out. Still : I’d have preferred to know : maybe tomorrow is the day

Waga looks busy in London. Ate at Camden on Thursday lateish : still 2/3 full. Has anyone seen anywhere that’s doing badly? (looking for a countersign). Else I’m impatient for a rerate.

Might come out on Tues 31st. Last reasonable time to do a Q4 trading update. IMO

To some extent I hope oasis are patient. Exec team heading in right direction as it is.

Let’s see. Not sure how re-rate arrives. Probably a shift after Q4 results (though these could be done in Y/E?). But just a ‘shift’ the re-rate -read +100% rise is probably following buyout rumour etc. or significant stake building. Though whopping airport results might help.