Member Info for Globex

If you want to ramp this rather than making things up you'd be better off saying something like how great padel tennis is lol

Very misleading thread, they've had this license since 2021 https://www.lse.co.uk/rns/MODE/mode-secures-emi-licenceamld5-registration-fca-vcl39u5xmw2rxfs.html

Company has announced they are changing to "sports services" focusing on "sports such as Padel Tennis" - nothing to do with financial services.

Kelso were also vocal about separating Ingenuity so when it happened wasn't much left for them to make noise about. What it looks like they did not consider was detail. That gave Moulding the open goal to tether the plc entirely to Ingenuity. Rest is history and we have this shambolic conflicted interest of the plc effectively funding his private company for the foreseeable, rather than being free to go into market and seek alternatives to Ingenuity like any other normal company. Not to mention lumbering the plc with vast majority of debt.

True in the sense that not many multi billion dollar US pharma companies have overseen a share price loss since IPO of more than 99%

100% agree management need to totally gutted and replaced with fresh blood. It's not rocket science, if you think about it to have a CEO + head of the two major divisions (also called CEO) between them not having any actual working at another plc that is not THG, let alone delivering shareholder value, it's actually a bit insane.

When you look at the big FTSE turnaround stories in recent years like Rolls Royce and M&S the initial catalyst is always appointment of new leader. After this track record coming on for 5 years being listed, clearly if they carry on with same faces doing same thing, market will rightly expect the exact same underperformance.

It's the other way round, Ingenuity not the one likely to go into distress because it has watertight multi-year long contracts. As long as THG plc is alive it can continue to cream cash from it. Aside from term loan provider, Ingenuity is Remainco's biggest creditor so in the worse case scenario of Remainco entering distress it has far more power than vice versa.

Based on previous form, newsflow will go a bit like this:

1) June - Interims.

2) Late summer - Rampy but ultimately commercially insignificant RNS. This part key to get people juiced up again for next stage.

3) September - Time for another placing.

Best not to overthink it, plainly speaking he's a blagger and a charlatan

Key thing to watch is £32m RCF. Where it gets tricky for company is that it's fully used up and weak trading means they are at risk of covenant breach. Banks are ones truly calling the shots as the RCF needs to be increased or covenants to be waived. Banks will require minimum cash buffer. Where this leaves the equity is anyone's guess but you have to assume it's not looking great. Whoever's offered has struck close to point of maximum pain for the company.

That just about sums it up Japinto, he's a rotter and a wrongun.

Took a look at his Linkedin for first time after his recent purge of wrongthink (ie sensible comments from shareholders). All a bit sinister now it's been heavily censored, how all that's left is only all the glowing comments about him. You wonder who on earth these people are, singing his praises? Must either be on the payroll or are sucking up to him in hope of a job/contract but it's totally shameless. Or have don't care about share price as they get shares for free regardless. It's totally cult like.

"I work in food so I know"

Someone stacking shelves in Tesco could make same claim, suggest you get off your high horse. This is story about MyProtein that made the news, it is perfectly valid to discuss here whether you like it or not.

Thanks for pointing this out, looking it up there was a Food Standards Agency alert on it https://www.food.gov.uk/news-alerts/alert/fsa-aa-26-2025 and story made the Mail, Mirror and Sun, so it is relevant for investors to be fair.

What is not ideal is that currently heading up nutrition and named CEO of it we have someone promoted from the THG graduate scheme. If nothing else it is a reminder you can't p*ss about with foodstuffs imo. Guarantee if they instead headhunted an external candidate with food industry experience, market would react positively. Plenty of hugely successful names they could poach from, Danone, Unilever, Holland & Barratt, you name it.

Dropping out of the FTSE250 so fast after multi-year long promises of a premium listing, then after they made such a song and dance over it when it did get indexed, would be truly humiliating to most management teams. But fact they did a capital raise day it joined showed true contempt they have for usual norms.

These third party tools are notoriously inaccurate. Ask anyone working in ecom/webdev. Analytics with actual traffic metrics internal only.

Couple of other telling about this update is 19/06 bid deadline, same date full year accounts scheduled. Inability to sign off as a going concern may well be what's forced their hands forcing their hands now, especially in light of no news on extension to the £32m RCF. Banks playing hardball. Overall debt situation and weak trading means they'll be very close to breaching covenants, if they haven't already. Make no mistake, this is a proper distress situation.

Something semi related is takeover code now applying at Revb will require 1%+ shareholders to disclose holdings. Potentially applies to MM as we know he bought in to it at one stage. One of his many great investments. Anyway if there's a Revb RNS with his name, safe to say he'll have taken a massive haircut on that.

That was the point I made re McGeorge.

The funny thing is they still maintain control of the process by also appointing yes man Iain McDonald. So there's still just as much of a conflict. Notice how when listing other boards McDonald is on, they leave out the most obvious one that happens to be Revb's major shareholder. Subtle these guys aren't.

A proper process would see them actually disclose the amount they are offering, but it's clear their strategy is to stack cards against potential competing bidders.

Alistair McGeorge was one of the Boohoo appointees, so him curiously stepping down at this point can only really mean one thing about who the offer came from.

I'd say it's quite natural if people want to use this platform to share views critical of management. It's good to talk and all that and by most measures value has been destroyed here.

There will always be that age old counter you see across these boards consisting of variants of 'why don't you just sell then' - but it is possible to see value in the underlying assets while also viewing management as the thing holding back that value being realised. That's what most shareholder activism is about.

Yes MM will probably get waved through again as he has cultivated the register with actions like employee trust plus a lot of sensible people sold a long time ago, so we're getting distilled down to the die hards, and the most compliant IIs. At the same time, it is not totally futile to register a protest vote. We had some activism publicity around ousting chair last year, albeit without the numbers in the end. Iain McDonald is a more concrete example - he would still be on the board if it hadn't been for shareholder pressure.

Anyone with shares unhappy with management definitely should vote accordingly and don't be fooled into thinking there's no point. Those in power will always benefit from apathy. Every vote counts.

Seems the pump and dump crew have a hold of this now, careful.

There's a very good reason why this hit an all time low this morning. As always, ignore the rampers and instead check cash burn vs revenue, coupled with history of placings and long term chart to see where this is going.