Member Info for Franalex

Individuals comparing potential IPO values of other businesses with the current THG market cap, should remember what THG was at IPO; looked absurd at the time and has proved to be so.

Agree. Holder for over 20 years and think I will attend the next AGM and ask the Board to provide some evidence that any of their actions since the Carlyle bid (£20 plus in todays terms) was rejected have been in the best interests of shareholders. The share price and dividend policy suggest the market thinks not.

I am more concerned about the similarities with NMC than Burford. In that situation it was a FTSE100 business and the Muddy Waters attack, continually rejected by the Board, turned out to have substance.

Received mine in HL, 69p per share.

Worya,

With you on this as did fair amount of research before investing. Unfortunately when I see an RNS like that posted this morning, my mind goes back to almost identical releases from the Board of former FTSE100 company, NMC PLC following a collapse in share price. Still scarred from that experience which never got the coverage it merited due to Covid but this board was full of optimists to the very end.

Market must be anticipating some very bad news and a large dividend cut. Yield is now absurd.

In addition, Next is a much better run business than ASOS, with both High St presence and a good online offering and not burdened with a demographic that orders large amounts only to return most of them.

Only about a year ago someone was posting to sell both BP and Shell and buy these Shares as a lower risk option. Wonder what his view is now. I have got all 3 and wish I had got out when they announced the share consolidation as it has never worked well for me. Divide both Nat West and Renewi by their consolidation multiples and just seems to provide an option for bigger price falls.

It is their business model that results in this behaviour which is absolutely their responsibility and a major reason why their shares, once over £60 are now struggling to hit £4. The model has a major flaw that they should have foreseen.

Getting my seasonal reminder of why this stock continues to struggle. Daughters and their friends once again ordered a large amount of items to try on for Christmas parties. Every item gone back. You can not run a sustainable business on this behaviour from you key demographic group.

Agree. Wonder if they bothered to compare the two. Acting in the best interests of shareholders, I think not.

Can see absolutely nothing in either the numbers or commentary to back the judgement of the Board to turn down the recent bid.

“Come back in 12 to 24 months”

I remember someone posting exactly that comment a couple of years ago. Anyone following that advice would be in for a nasty shock.

Their business model has looked flawed for years. As I have posted several times before, I watch my daughters and their friends buying hundreds of pounds worth or clothes in various sizes and colours, trying them on and sending almost everything back.

Lost a lot of money on this a few years ago when it did look like the future but sold, took a big loss and then followed it down from £20 using IG index and made far more than I had lost. My last position closes at £3.20 which now looks distinctly possible.

A purchase at 9p was before the share consolidation although still a decent profit at the current equivalent price of c17p.

Bit like deja vu from Carlyle bid in 2010. Share price fall shows exactly what the market thinks about the Board’s ability to deliver value over and above the Macquarie bid which seems to be off the table. Good luck with the AGM, if you are lucky enough to get to ask a question the answer will be waffle about what they plan to do. History suggests it will be a long time before £7 is seen again unless another bid emerges.

Having watched the share price collapse after the last bid fiasco I decided to sell a third of my holdings this time when it hit 35p. When a bidding war seemed on the cards I thought that looked a big mistake, I am now not so sure it was. Bought at 12p so a decent profit anyway.

As a very long term holder who saw the Board reject an offer from Carlyle over 10 years ago at around £5 more than the current offer, because it did not reflect the value of the business, I am fed up with the jam tomorrow promises. Dividend slashed, woeful share performance, share consolidation to make the price look better; around 25 years ago the price was over £20 adjusted for the consolidation. I will take what is on offer.

Great based on recent lamentable performance but the equivalent of about £5 a share less than the Board rejected over 10 years ago when Carlyle bid, because “it did not adequately reflect the vale of the company”.

Ironically, I recall individuals saying this was a takeover target when it fell below £10 a share.

I agree with you on the target market and my two daughters and their friends fall into exactly that group. The problem is that they return over 80% of the items they order. The end of university Prom is a classic example. They (daughter and friends) ordered large amounts to try on, amounting to several hundreds of pounds of product each, but absolutely every one was returned and they all went on a shopping trip to the local city and bought outfits there. As I have said before, how do you create a viable business from that behaviour?