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So as I have it:
10th June : AGM (Friday)
16th June : DL by which Candy etc must declare bid.
30th June : end of H1/22 where THG advise corp. restricting would complete / is on plan.
- - - -
Anything else schedule wise?
Do you think THG would advise of restructure / strategy update in advance of AGM (in an RNS) so as discuss it at AGM. Or simply do it on same day?
It’s 8 working days away so slides etc… will be coming together next week.

Gb1, I fear this a little too : but I can’t get round the shear brass front of it all and transparency : ie Lord Allan would not stand for it. Separately, the risk of being pipped by A.N.Other runs large : and then it’s a mess. If softbank / MM etc are taking l-term view an over the odd take-out now doesn’t matter that much 10yrs down the line. So I think - and hey it’s just a guess it’ll be £3-4? If at all. If you asked me what an honourable offer (lol) would be £5 flat as IPO : UK markets failed and walk away with reputation held high … no doubt to Nasdaq. But honourable is subjective and doesn’t carry weight in this modern world.

At Farrell: possibly. But (1) optics would be strikingly bad and I don’t think Charles Allen will stand for it. -&- (2) it’s a dog eat dog world : if MM put a low ball in (I doubt he would) someone could come in over the top; then if MM matches Qs will be asked as to why first bid went in where it did. I think MM will have to have clear blue water between bids by others and MBO for the Chair / Board to agree to it. So I’ve been thinking about this today -&- I reckon that’s £3-4 in the next few months (on the, there has to be clear blue water basis).

I find it out we’ve re-rated to 145 -&- not higher. It’s obvs that any offer must be over 170 (and most likely appreciably so) to be considered. I get it might move up in time but how come it simply didn’t re-rate to 170 (or above) today? It’s odd.

At goldenyears // sp28 both fair comment. Was only asking as (a) being a bit lazy, sorry (b) yep, trying to hold out until Q3-23 but also given everything else going on // always good to consider what may (c) happen in interim.

Do we have data on average price point for nutrition // beauty // and average basket spend is? Just trying to get a handle on how sensitive average joe (who's a repeat customer) is to continued spend in challenging times. I think (from my purchases) I still crack on...

Frustrating though… having to wait so long for a decision. It’s a damper on being in motion : even it is was -ve : upset, but move on… constant waiting is exercising me… patience : need patience // 120 days will soon pass

Outside Covent Garden Wagamama today : in the rain (!). I hold so bias toward +ve but from what I see (albeit only in London) on the street Waga doing okay.

Thank you : -&- gobsmacked they can have a 60 day extension. At some point it will conclude

Would be very grateful if anyone knows : keen to place in diary , be well , best for weekend.

I think - and really hope it won’t - that SP will hover around where it is now. All led by external factors and thus appetite for and sentiment to THG. I guess THG has a lower cost base than other retailers and other retailers may increasingly look to outsource as times become tough - so as things clear (in 18 months hopefully) it comes back sharp with less competition s SP rockets. Till then it’s wait and see approach as THG execute on strategy.

RTN now valued at around Aug-20 : mid pandemic levels. Nuts to think it is in a similarly difficult place. Nuts. Camden at 33% full at around 10pm last night : deliveroo queuing up….. feel market sentiment is disconnected from present public sentiment.

THG need to establish // maintain position with sellers as a premium fulfilment service with end-to-end coverage; knowing their customer because they are a customer -&- thus differentiate from the Borg! (Amazon) and a middle-person (WPP).

This is all sentiment. Good that it is positive -but- it may equally turn. I can’t see THG smoothly going up in SP : there is going to be a stonking day on back of announcement or absolute sea-change in sentiment if revenues or similar kick-off…. I’m trying to patiently wait for this : I can’t easily (famous last words) see us back in the 70s

Waga Camden quieter today but the deliveroo guys were queuing up and have their own special entrance; very efficient.

Where do people sit?
I’m going with :
No buy-out // SoftBank exercise adjusted option // open a new one with additional capital. Value ingenuity around 400p.
News flow in June. To allow other corporate structuring. -&- Chair to prepare statement alongside premium listing.

This is a quiet Discussion Board. For those watching and near a Waga : can we have a person on the street view please? Camden waga is busy in restaurant and w deliveries. My feeling is tough times ahead but waga in the ‘affordable luxury / treat’ space and well positioned.

Preference for SoftBank to simply exercise a version of its option. Take out another option and separate out entities. That way value is more clearly seen. I would struggle to see why buy out will be below IPO. I could understand it being bang on. Separately, buy out has to be high enough to prevent PE’s coming in over the top. High enough by a margin ie clear blue water.
The bit I don’t understand well here is the ability to hold of stock (in a big way not PI way) and £-value in doing so (over long term : ie access to future cashflows) vs what one is optically seen as fair value in the market. The SP has clearly see-sawed down. Will it see-saw up if an II decides to build big stake or PE attempts take out… or are we all drinking too much kool-aid and is fair value around 230p (lol when i invested a big chunck so as not to miss out !?)

I am concerned for have considerable shareholding now and sense tougher times will fully in effect Q3/Q4. Hoping THG price point / health focussed / everyday luxury // helps with sales and the arguable over investment in kit / IT etc helps it ride out storm as others (it is competitive) take more of a beating. I could really do with cashing out 2023. Let’s see.

Bentham makes a good point. No conspiracy. Just a market that cannot figure out THG and thus discounting it. THGs responsibility to resolve this. Results a good opportunity to start.