Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Manifesto - mike Ashley is southern
City pie - I think we all know that but I just want him to clarify his trading strategy in his world of make believe . All my opinion
Wild tiger you do talk utter nonsense- Thg had 500 million in facilities available at the last results and said they would be getting out of none core assets . I suggest you start learning simple facts rather than pretending you’re some kind of hot shot trader . You haven’t answered my question yet what do
You trade ? Do you spread bet , options , CFDs or buy the stock . All my opinion
Wild tiger - with all this trading in and out what do you trade options , spread bets or just buy the stock ? I think personally you should change your profile from wild tiger to Walter Mitty . All my opinion
Polish you do talk some nonsense. Brian Kennedy is probably not behind Matt and would like to sell so would I as I have a low average but if Matt has the majority which he has then it’s pointless . I believe there is another deal being worked on and that is well known by a lot of the big investors. Sofina I believe are still very on board with Matt as they have a board seat and have been a shareholder pre float . All my opinion
Rock - totally agree . I just think Thg is at the wrong stage in its growth to be listed . Although you can’t feel sorry for Matt as it’s his decision to list , I do feel he gets a slight rough ride when the city is flip flopping from growth stocks to value and one minute the don’t mind FCF negative and then want you to just turn on the FCF positive. Personally I think Matt would be better taking this private build it a up bit further and get to FCF positive then re list either here or the states and he and the company would get better treated , still think the end game for this as a listed company for now is very close . All my opinion
Rock - maybe they meet in the middle or Matt already has his deal just a matter of time . All my opinion
Rock - I wouldn’t be so sure a pe deal won’t happen . It’s all about negotiation. KKR are every bit as big if not bigger than apollo and they were willing in the early days to give Matt control so it’s been done before . I suggest we watch this space and see who is next at the table . Remember unless it leaks and affects the price then Thg do not have to confirm or deny talks so can be done behind closed doors without a put up or shut up deadline . All my opinion
Admission and immediately following Admission are set out below.
Immediately prior to Admission(1)
Percenta ge of
Number of issued Ordinary Ordinary
Shares Shares
89,543,487 11.38 29,506,960 3.75
66,748,455 8.49
2,885,269 0.37 43,291,458 5.50
8,927,529 1.13
1,236,570 0.16
8,670,088 1.10 16,987,029 2.16 692,939 0.09 3,208,739 0.41 3,710,824 0.47 1,191,870 0.15
17,720,970.0 2.25
294,322,187 37.41
Number of Ordinary Shares to be sold in the Global Offer(1)
Immediately following Admission(1)
Number of Ordinary Shares
89,543,487 10,501,056
56,712,933
1,153,559 10,833,112
4,599,959
308,876
927,000 3,396,157 426,049 1,019,700 1,236,247 1,087,633
10,528,230
192,273,998
Percenta ge of
issued Number of Ordinar Ordinary y Shares Shares
11.38 - 1.33 19,005,904
7.21 10,035,522
0.15 1,731,710 1.38 32,458,346
0.58 4,327,570
0.04 927,694 0.12 7,743,088 0.43 13,590,872 0.05 266,890 0.13 2,189,039 0.16 2,474,577 0.14 104,237
1.34 7,192,740
Percentage of Ordinary Shares
- 1.96
1.03
0.18 3.34
0.45
0.10 0.80 1.40 0.03 0.23 0.25 0.01
-
KKR Gym (Cayman) Limited(2) .............................. West Coast Capital(3) ............ Zedra Trust Company (Jersey) Limited(4) ................. D.C. Thomson & Company Limited(5) .............................. FIC Shareco Limited(6).......... Belerion I L.P. Incorporated(7)....................... Meadowside Nominees Limited(8) .............................. Angus Monro(9)..................... Terry Leahy(9) ....................... Carl Houghton(9) ................... Iain McDonald(9) ................... Terry Green(9) ....................... John Gallemore(9).................. Other Individual Selling Shareholders(10) ..................... Total .....................................
(2) KKR Gym (Cayman) Limited is an entity indirectly owned by investment funds and other entities affiliated with Kohlberg Kravis Roberts & Co. L.P.. The business address of KKR Gym (Cayman) Limited is PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands. KKR Gym (Cayman) Limited has also agreed to transfer 41,291,838 Ordinary Shares to the Founder and certain underlying investors in KKR Gym (Cayman) Limited. Further details are set out in paragraph 21 of Part XI (Additional Information – Related Party Transactions).
(3) Includes 112,424 B ordinary shares held by West Coast Capital Assets Limited and 21,000 B ordinary shares held by West Coast Capital Holdings Limited. The business address of each of West Coast Capital Assets Limited and West Coast Capital Holdings Limited is Marathon House, Olympic Business Park, Drybridge Road, Dundonald, KA2 9AE.
(4) The business address of Zedra Trust Company (Jersey) Limited is 50 La Colomberie, St Helier, Jersey, JE2 4QB.
(5) The business address of D.C. Thomson & Company Limited is Courier Buildings, 2 Albert Square, Dundee, Scotland,
DD1 9QJ.
(6) FIC Shareco is a Guernsey special purpose vehicle incorporated by the Founder (through a wholly ow
Polish - Iain macdonald had around 10 million shares via his belerion fund in guernsey and around 4 million in his private name at the time of the float . He sold off around 24 million pounds worth of i remember right please look at the prospectus . His english companies are just back office stuff his fund is based offshore . All my opinion
https://dl8hes3yo0qpy.cloudfront.net/wp-content/uploads/2020/09/10153258/THG-Prospectus-1.pdf
Take note of the kelso post on LinkedIn that if there were other suitors/approaches Thg donot have to inform the market unless it’s price sensitive . All my opinion
Hi all
Remember not all the major shareholders are happy , this is the report that supposedly made the takeover panel make Thg announce the interest from Apollo. https://www.thisismoney.co.uk/money/markets/article-11975939/amp/Hut-Group-boss-told-house-order-losses-mount.html
I don’t think they will be the last , but money still on MM and qia taking it off the market . All my opinion
Manifesto - that’s your opinion that he should of engaged with apollo for a quick buck as that would of suited you but he has the golden share and we all have known that from the off and will only suit himself until it’s gone . He also would not entertain apollo if he had his own deal lined up and just use them for price comparisons. All my opinion
Manifesto- Matt is more than simply an employee he is the major shareholder and founder . Being the founder cause it’s his baby. He can make a choice do an mbo or start hitting the numbers . If he hits the numbers the shares will re rate on their own and it really doesn’t matter what he says . All my opinion
If sorry predictive text
Hi all , I see the bb has been busy today . The way I see it is Matt can say what he likes as long as the golden share is there and to be honest he can keep doing it if he hits the numbers which currently they are not , although green shoots do seem to be forming . I personally believe he has a deal in place to take this off the market before he is prey to hedgies and pe . I can see some of his points as this is his baby and he has grown it from scratch but he either needs to do an mbo or start playing the city game , dump the useless chairman , get someone who the city likes like a Stuart rose or even Terry leahy is a shout and get on hitting the numbers . One good thing about the rant of he does do an mbo he better pay more than 2.50 as he has said that is cheap . All my opinion and good luck all
Brandon - predictive text
Manifesto - if you believe that rubbish then you will believe anything. You don t make 4billion pounds like Brandon without boring sharp . All my opinion
Cantona - Still think this plays out like we said , MM take private with QIA before sept when Matt will be vulnerable. He can now tell the market he has exhausted all options and value isn’t be reflected in the share price so He will justify taking it for 220-250 sotp . Hopefully I’m wrong and he starts creating free cash flow and share price moves up accordingly. All my opinion
Hi all
Disappointed to not get the buyout however. I do think Thg is seriously in play for corporate action with the activists now involved and the possibility of Matt taking this private . Look you don’t have one of the worlds biggest sovereign wealth funds involved and partnering to buy out SoftBank to be bullied by a low ball highly leveraged pe bid . All my opinion