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Where's the 40p coming from Crowman... is it simply an update per guidance (and then re-rate up?). I was thinking that since we've never had a straight forward +ve update w/o shenanigans that a 'bad' update is priced in. On that reading, then yeah... I'm with you hopefully 40p. £1 next year however?? Need some more entity sales and to get lucky with whey prices : AND no more hairbrained MM ideas or poor goverance.... a lot to ask for!! Yet at the same time, so little.

Gatecrasher, I've been doubling down since 200's. And sounded as sure-footed in my mind as you shared previously.

GaryEllandRoad you are an absolute dreamer. £2! More chance of TGL holding MM to account

As mad as this sounds (and I am no fan of MM or GLA) re-reading RNS -IF- market share and market grow for FY26 and whey prices moderate - then nutrition should throw out a lot of cash (ingenuity out; price insulation out; market share up). It’s just it has become derigguer for MM to throw a clanger in and state its in best interests

Gary there are NOT many investment groups holding more than MM. That is incorrect. MM is a major shareholder and may have a greater allocation if loan converts. What there isn’t is challenge from Sofina and Frasers (at least not anything we’ve seen).

That said : I too very much want to get out and move on. Here’s to 75p soonish … though this is more hope than expectation

The issue is no one can get at the sum of the parts whilst MM in place; who is gradually diluting everyone else whilst running down valuation. Watch a low ball offer to take private endorsed by BoD : and the heist completes.

In all seriousness how does one make a complaint about Chair - is it to the senior independent director, Susan Farr? Guess it would need to be a letter. I’ve never had a response from IR.

How do you go about removing the Chair? Did not recieve overwhelming support at AGM. Does one have to wait until the next. When MM has an even bigger stake!

Do you mount a public campaign.

Do you appeal to Frasers (significant holding).

Do you make a complaint : ie conduct around THG/Ingenuity (but expected this has all been boiler plated by solicitors).

I don’t know. But expect it is easier to remove Chair than it is MM.

With new management etc?

Setting aside MM / GLA / BoD abject failure to execute or practice objective governance (I cannot see how MM is both CEO and majority owner of major supplier)… the business is not in a worse position than recent dilution… ergo.. it ‘should’ at the very least get back to that level. MA etc are still underwater having only just entered. Surely it’s relatively low risk to mid 40’s : but that it is not moving demonstrates the complete absence of confidence in the current team. Get rid of them.

Below is spot on. Lord Allen should step down. Did not receive support at AGM. Has failed as a Chair. Flim-flam.

This is the exact reason why the share price is where it is. The markets don’t trust MM or the chairman. If they were gone the share price would rise drastically.

1pencil, I think the concern (certainly mine and perhaps more widely held) is that eventually margin cannot be sacrificed for market share (or rebrand in support of, especially if market share is being maintained by softening of pricing). And furthermore THG Exec have not demonstrated a consistent ability to execute well on strategy (often retrospectively provided; recent RNS being a welcome change) or deliver on guidance. My hope is that there are more BU sales and there is a change in leadership. MM is conflicted in being the majority owner and founder of the principle supplier (who cares not about THG margin, just volume).

So conflicted it is blindingly obvious to all but the Chairman

What’s the view?

I’m thinking of squirrelling away a sum every month into this for long - long term gains 🤞 - as in +10yrs. Concerned w/o I don’t have exposure to what are high growth : high risk vehicles.

What’s the investment rationale for others invested please

Unsure. But I did Hmmm today. I thought SP would be stable-ish today - despite having seen the SP gyrations over the last few years, I did think news of last week, especially the value achieved for sale would have materially moved SP. It clearly hasn’t. £447m as a market cap feels low on a sum of the parts calculation. Jeez the purchase of Cult Beauty alone is 66%+ of it - and though it was probably overpaid for it is not worth Zero. Sense until MM moves on and a seasoned FMCG CEO arrives this will drift. Here’s to hoping for that

I'd take 300p now and walk off with absolute delight. Frankly bliss

At yespsb… I agree but hopefully someone comes across with an offer that the BoD convince MM cannot be refused or at least causes some shareholder activism. I would take 170p now in a flash. Who wouldn’t.

I know… that’s all the debt gone (Cult beauty at £291m) plus some cash…. Bonkers

For example I wonder how much Perricone MD - £51M purchase, would fetch now? It wouldn't take that many sales to completely clear debt.

£6 isn't really realistic is it?

It would be a bonkers market cap.

Surely only there with Southern basin (even then an absolute stretch).

Nearer term I hope there is some FOMO following FID from more risk averse investors that takes us into the 100p range. At 150p I'll be seriously thinking of checking out. Life changing amount of money and life is what we live not the share account