Member Info for Globex

Interesting cheers. Tough from an employee point of view, it's a particularly cut throat sector.

From a shareholder point of view, to be fair these actions have been signposted, eg in at half year they announced headcount down 12% year on year and that they'd continue "to take cost action". Hopefully morale/operations not hit too hard - but financially probably a necessary evil. No company can carry on spending more than it makes forever.

The relevant part the RNS here states: "Frasers confirmed their intention to make a strategic investment of £10 million in THG."

As with most a lot of things people will read into that whatever they like, but until the separation legally takes place and they actively opt for more/less/equal combinations of NewCo/RemainCo, just like every other THG plc shareholder right now they effectively own a bit of both.

Strange thread title.

I'm not sure you realise what 'more than good friends' usually means. Unless you are trying to say they are lovers?

This Hamak deal was particularly woeful even by the standards of this board. And they still have more than 10% to dump, it's like a never ending car crash.

Brokers that sold Vela this deal must have had to work hard to contain their laughter the board fell for it.

Unfortunately there are incentives for trusts like this to overstate values of private companies, it happens. Some are worse than others. But by all means if it gives you comfort put it down to communication problems.

The cash realisations should indeed count towards NAV (after expenses). But if these sales are being used an explanation for reducing portfolio value that implies a difference between value recorded on financial statements and the actual value, which in the case of private companies as we know is only truly revealed on IPO or point of sale.

In other words it indicates they've been overstating some values.

Interims due next, from last update: "The Group will publish its results for the six months ended 31 August 2024 in early November 2024."

And inevitably now they stop the buyback it's an immediate rugpull because company buying was in effect the only thing supporting the share price.

If the current salesman is inadequate that's not the responsibility of shareholders though. Staff are already being rewarded extremely generously, there's no way anyone here should to volunteer to do free marketing for them.

The big problem is we're talking about a medical product, this isn't like selling a consumer widget. It needs proper clinical validation before anyone serious will consider buying it. Without FDA or Nice approval it's a non-starter.

That approval won't come without a widespread clinical trial, but the company's key strategic mistakes was they decided not to bother with any of that. They thought they could blag the medical community and instead blew through over £10m last year alone on things like a brand new lab, facilities in 3 different continents, £550k on CEO etc.

Now they are about to run out of money so it's game over I'm afraid.

I'm also not sure the beer analogy cuts it.

Might as well substitute for any other mass consumed product. Like there are lot of biscuits, therefore there can be nothing structurally wrong with MyProtein? Doesn't really work does it.

Anyway off to the pub later on, I'll be ready to ask the good barman for a pint of his finest Creatine Monohydrate.

@stanleyb

I suspect this type of discussion is above your level, but if you're going to call posts nonsense I'm sure you'll be happy to share your own analysis for why nutrition numbers are in decline?

The big challenge is protein market is now absolutely saturated. Amazon now have a frankly overwhelming number of different brands. With anyone being able to buy standard grade whey wholesale, such low barriers to entry are a bit of a killer.

The more retailers there are fighting for same business obvs marketing gets more expensive but you have no choice to pay to get noticed, eroding margins further still.

MyProtein were at a crossroads a couple of years ago where they could have gone more premium like Glanbia. Instead the decision was made to target lower end with moves like heavy discounting and 'Essential' sub-brand which could be seen as downgrading perceptions of range as a whole.

Better strategy I would argue would have been instead to go for a halo type premium/more expensive offering alongside the everyday range. Instead it's now entered a bit of a race to the bottom with all the other players with no USP to defend itself.

*realise it's not Aim yet btw but same playbook applies

For clues about newsflow timing, the cash situation as good an indicator as anything else.

The company have been quite transparent that they have enough working capital only up to December, so it will be necessary to raise money soon. Based on the usual playbook of loss-making Aim micro caps in need of cash to release positive news before a placing, should expect something over next month or so.

Share price performance says it all, it's not looking good is it.

Hopefully not too many got suckered in by some of the disgraceful ramping from certain regulars on this board.

Blimey his thought police must really be having a day off

He does seem to spend a fair bit of time on these chit chats, considering company is supposed to be in all hands on deck turnaround mode.

To be fair at least this time it's with a national publication rather than a youtuber for a few dozen views. Shame it's mostly about politics and workplace pet policies. Oh well can't have it all.

Quite telling the company has had two requisition notices now in last 18 months from very different activists. This is not normal. Whether this one works out as any more successful than the last who knows, but if nothing else it does speak volumes about shareholder dissatisfaction.

When they last did a placing, they said: "The net proceeds from the Fundraising will ensure that the Company has sufficient funds for its immediate needs until December 2024."

December is now only 5 weeks away, so for anyone still holding there's good logic to exiting - or at least de-risking in meantime. Always option to rebuy if/when there is more certainty over funding.

Hard to imagine him going voluntarily. Based on all we've seen to date, he doesn't seem type to willingly give up control, even if it would be for the greater good.

His rants about the markets/this being publicly traded a pretty good indicator of his mindset. Seemed to be rooted in his discomfort over lack of control that comes with territory of being a plc- over how market values it/what media say etc.

People can go weird with a bit of power, and some really don't like losing it.