Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
On LinkedIn, the brand Director left two days ago, after 3yrs with the business. Not sure if that is a good sign of a potential sale, as I assume made redundant which seems a strange move shortly before administration. Maybe they know they don’t need brand/marketing team?
Tiny volume. Everyone is sat watching the roulette wheel spin. GLA
I just did a quick tally of the RNS on ADFVN since June. Seven have held their investment, two new and two sold.
Not a bad sign most have held, assuming updated RNS would have been submitted.
Key shareholders - Total c. 41%
Octopus 13.59%
Paul Pinder 6.02%
4 Ventures 4.59%
DN Capital 4.2%
Alan R 2.99% (new)
John B 2.99%
Directors 2.3%
Gurmiel S 2.24% (new)
Fabrice 2.2%
Sold
Kuba W 1.8%
Finn Cap 0%
Given little debt, not sure why they would pre-pack, it would just screw suppliers who they’d want to maintain a relationship.
Hopefully there’s a couple of parties interested that value the brand, but can quickly realise cost synergies, especially marketing.
Definitely a gamble still, especially in the current market.
Ahh, just seen why, someone hoovering up…
Nothing available to buy for the last 30 minutes…
Got to be a bargain for DFS or Dunelm, even in the current market, +£20m of sales and lots of cost synergies.
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It’s just weird. Multiple THG forums hadn’t picked up on this. But Mr Shah knew ‘A small group is preparing an online petition. Draft wording circulating’
Flim flam. Matt needs a comms team that builds relationships with the press or take it private.
Oliver Shah - The Times - Moulding's golden oldie
Matt Moulding's self-awareness didn't seem to blossom over the summer.
The founder of creaking e-commerce construct THG, formerly The Hut Group, returned from his break and posted an Instagram video. Set to Sam Smith's Money on My Mind (lyrics: "I don't have money on my mind / I do it for the love"), it showed his family splashing around in a sun-kissed location before announcing: "Back to the grind."
Sure enough, normal service was resumed a fortnight later, when the latest sales and profits warning knocked shares in THG once again. At 40p, they are now down more than 90 per cent from their 2020 float price.
Many shareholders are nearing a sense of humour failure, especially after the dismissal of takeover offers at 170p in May Broker Liberum cut its price target from 380p to 45p this month, with a sum-of-the-parts target of 236p making a break-up look appealing.
Meanwhile, some investors are frustrated that Moulding shows no sign of relinquishing his "golden share", which, in
effect, gives him total control, despite having promised to do so almost a year ago. They think this governance boo-boo is hanging over the share price.
A small group is preparing an online petition. Draft wording circulating suggests scrapTHGgoldenshare.com will tell Moulding to give it up "immediately, without delay". If he doesn't, the group aims to "use the power of the holders
together to help effect this change".
Sources close to THG insist that its boss still intends to drop the golden share and move to a premium stock market listing this year. He has three months to deliver a story shareholders would welcome
Here you go Oke - Oliver Shah, THG’s biggest fan at the Times, shared the site last night…. https://www.thetimes.co.uk/article/whats-that-pitter-patter-mutinous-tory-donors-are-returning-to-the-fold-9mn6tz5zr
Does anyone know who Alan Rosenthal is? Seems pretty confident.